- 123jump.com Staff
- 16 Oct, 2007
- New York City
IBM, Intel, Yahoo, and CSX were some of the companies releasing earnings after the close of regular trading. IBM reported earnings rise og 6.3% on 7% rise in sales. Intel reported revenue rise of 15% and earnings grwoth of 43%. Yahoo earnings declined on revenue increase of 12%. CSX reported revenue rise of 3% and earnings increase of 24%. Intel, yahoo, and CSX rose in the after hours of trading.
- 123jump.com Staff
- 16 Oct, 2007
- New York City
U.S. stocks fell after comments on housing markets from the Treasury Secretary Paulson put investors in a cautionary mood. Averages fell as Paulson said that the U.S. housing market poses a significant risk to the wider economy. He also admitted that the problems in the housing market are likley to persist longer than anticipated. After the close Intel reported earnings rise of 43% and at IBM rose 6.3%. Yahoo earnings were flat compared to a year ago of 11 cents per share.
- 123jump.com Staff
- 16 Oct, 2007
- New York City
Treasury Secretary Henry Paulson remarks suggested a sharp reversal in the U.S. administration''s approach in tackling the ongoing correction in the housing market. He said that it is the regulated banks that are facing the crisis rather than the hedge funds and the depth of the problem is still undetermined. He expressed real uregency in tackling the housing industry and mortgage related issues. He admitted that the current problems in the housing market are likely to persist beyond 2008.
- 123jump.com Staff
- 16 Oct, 2007
- New York City
U.S. stocks declined after a barrage of earnings warnings sent a mixed signal and oil crossed $87 per barrel. Wells Fargo and Johnson & Johnson reported better than expected earnings. Ericsson fell 24% after reporting a shortfall in the quarterly earnings. D R Horton said that orders declined sharply in the fourth quarter.
- 123jump.com Staff
- 16 Oct, 2007
- New York City
Tokyo stocks fell along with a decline in other Asian markets. Financial stocks led the declners after Nomura Holdings reported its first quarterly loss in four years. investors worried that the U.S. mortgage market problems are likely to persist and may be deeper than early estimates suggested. Mizuho Financial and Mitsubishi UFJ fell more than 5%. J Front reported sales and earnings rise but failed to meet the forecast. Oil closed at a record high.
- 123jump.com Staff
- 15 Oct, 2007
- New York City
U.S. stocks declined on the worries that credit market problems are likely to linger longer tha anticipated. Citigroup reported 57% decline in earnings on more than $3 billion in losses in the fixed income area. Eaton Corp reported higher earnings but lowered annual earnings outlook. In Japan, Nomura Holdings reported preliminary qurterly losses on the account of $1.2 billion in subprime mortgage losses and deicded to leave the business. Philips Electronic reported sharply lower earnings.
- 123jump.com Staff
- 15 Oct, 2007
- New York City
Australian stocks fell as investors showed caution ahead of earnings season. AGL Energy fell 17% after it cut its annual earnings guidance. The goverment offered to lower taxes by A$34 billion over the next five years, if reelected. Nyrstar, a joint venture betwen Zinifex and Umicore, agreed to offer 70 million shares between 18 and 23 euros or raise up to 1.6 billion euros.
Markets in Asia rose sharply led by a surge in India, Shanghai, Hong Kong, and Indonesia.
- 123jump.com Staff
- 15 Oct, 2007
- New York City
In the early trading in New York stock are trending lower after earnings from Citigroup and Eaton Corp. Citigroup reported third quarter earnings per share of 47 cents compared to $1.01 a year ago and Eaton Corp reported earnings of $1.71 compared to $1.62. Danaher offered $2.8 billion for Tektronix, 34% premium on closing price on Friday. India, Hong Kong, and Shanghai surged. European markets trend lower. Philips Electronics earnings dropped 80%.
- 123jump.com Staff
- 15 Oct, 2007
- New York City
Stocks in Tokyo closed higher after facing a morning trading decline.
The Bank of Japan said in a quarterly regional economic report that export sector is expanding and capital investment is still rising moderately. The Bank of Japan governor said that the economy is likely to expand at a moderate pace. Rising prices of metals, agricultural commdities, and energy lifted stocks in shipbuidling and mining sectors. Mitsui Engineering anf Mitsui OSK gained more than 2%.
- 123jump.com Staff
- 12 Oct, 2007
- New York City
U.S. stocks edged higher on retail sales and inflation report. Retail sales in September rose 0.6% and producer price index increased 1.1% in the month. Core rate of inflation rose 0.1%. Oracle offered $6.6 billion cash or $17 per share for BEA Systems. Oil reached a new reocrd on the worries that Turkey may invade Northern Iraq. General Motors surged more than 10% in the week. Asian markets hovered at record levels. European markets edged lower.
- 123jump.com Staff
- 12 Oct, 2007
- New York City
Sensex in Mumbai, India trading fell 2% after rising sharply in the last three days. Of the 30 stocks 26 declined in the Sensex index. The Finance Minister Chidambaram said that current value of rupee in the international market is trading outside the comfort zone. He also suggested that the economy is capable of 9% annual growth. Reliance Industries plans to invest up to $9 billion in Jamnagar refinery and plans to invest $4 billion in domestic oil exploration.
- 123jump.com Staff
- 12 Oct, 2007
- New York City
Stocks in early trading in New York reached higher after reports on retail sales and inflation. Retail sales increased 0.6% September on strong auto sales on top of 0.3% rise in August. Producer Price Index in the month increased 1.1% and core PPI increased 0.2%. General Electric reported 14% increase in earnings on 12% rise in sales. Centex plans to take $1 billion in charges. European markets fell. India and Taiwan led the decliners in Asia.
- 123jump.com Staff
- 12 Oct, 2007
- New York City
Oracle offered to purchase BEA Systems for $6.6 billion in cash or $17 per share, 25% premium from the close on Thursday price. BEA has attracted interest of Carl Ichan who is known for his agressive tactics with company management. He recently raised his stake int the company to 13% and pushed management to look for a buyer. Oracle cash offer lifted the stock in early trading to $18.
- 123jump.com Staff
- 12 Oct, 2007
- New York City
September consumer confidence was flat in Japan. Households face stagnant wages, rising prices, and higher cost of food and energy, dampening sentiment for months. The malaise in pension records is also affecting the sentiment. The producer price index or wholesale inflation rose 1.7% in September after gaining 2% in August. Stocks in Tokyo trading fell on weak tech and financial sectors.
- 123jump.com Staff
- 11 Oct, 2007
- New York City
Stocks in New York closed lower after tech stocks declined in the afternoon trading. Same stores sales for the September month were mixed. Target, J C Penney, Kohls, Limited, and Nordstrom fell after they lowered earnings guidance for the quarter. Wal-Mart raised the estimate for the third quarter. UK led the gainers in Europe. Asian markets closed higher. Australia, Hong Kong, India, Indonesia, and Korea closed at a record high.