- 123jump.com Staff
- 25 Jul, 2007
- New York City
Stocks in Shanghai advanced to a new high on better than expected earnings from airlines and renewed buying in bank and financial services stocks. Hong Kong closed a fraction lower dragged by banks and oil companies. Aluminum companies soared to the daily limit of 10% on the speculation that metal prices will rise. HSBC continues to trade lower on sub-prime worries. New brokerage accounts in the first three weeks in July jump 30% from a year ago in China.
- 123jump.com Staff
- 25 Jul, 2007
- New York City
Nikkei 225 Index declined 0.8% at close after recovering from a loss of 1.5% at mid-day. Nintendo earnings, sharply higher than expected lifted the average from its worst level in the day. Nintendo earings and revised annual earnings forecast lifted the market. Exporters declined in sympathy with losses in New York trading but shipping companies recovered at the close. Nomura reports earnings jump of more than three-fold.
- 123jump.com Staff
- 24 Jul, 2007
- New York City
Nervous market lead to a sell-off in New York dragging with it other markets in Europe and South America. Three popular averages in New York fell nearly 2% prompting a similar declines in European exchanges. Brazil fell nearly 4%. Subprime worries got a new life after sharp declines in earnings reported by Countrywide Financial. Asian markets at the open will follow similar declines. Amazon.com, after the close reported earnings jump of 257% on revenue gain of 35%.
- Elena
- 24 Jul, 2007
- New York City
European stock markets posted steep losses Tuesday, with financials and energy firms leading decliners. Disappointing earnings from U.S. mortgage lender Countrywide Financial pressured financial shares like Axa and HSBC. London closed down 1.9%, as the worst floods in 60 years weighed on retailers. France and Germany followed suit, each falling 1.7%.
- Elena
- 24 Jul, 2007
- New York City
U.S. stocks moved steeply lower Tuesday, reflecting disappointing quarterly earnings from DuPont Co. and American Express, as well as renewed subprime concerns. Dow member DuPont fell 5.3% after the chemicals giant reported flat Q2 profit as higher sales offset the cost of energy and research. Company''s earnings missed the average analyst expectations. Another blue-chip, American Express dropped 4% as the company posted 12% profit growth in Q2, but also reported an 85% jump in loss provisions.
- 123jump.com Staff
- 24 Jul, 2007
- New York City
Sensex in India closed up to a fifth record in a row. The index closed at 15,794, an increase of 0.5%. The earnings report from several companies dominated the trading sentiment. Earnings of Castrol India jumped 31%, Jindal Stainless soared 62%, and that of Indiabulls Financial soared 110%. NTPC and Asia Development Bank are in a joint venture to build a renewable energy plants company. ABG Shipping received order for 12 ships from Thailand based company.
- Elena
- 24 Jul, 2007
- New York City
U.S. stock futures were indicating a lower opening on Tuesday, dragged by continuous jitters in credit markets, as well as Q2 earnings drop and a soft outlook from chip maker Texas Instruments. Among other companies posting Q2 results, Lockheed Martin said its Q2 earnings rose 34% on higher sales across most of its businesses. AT&T reported 61% jump in Q2 net income, while PepsiCo posted Q2 profit rise to 94 cents a share, beating estimates.
- Elena
- 24 Jul, 2007
- New York City
The company said Q2 net income was $610 million, or 42 cents per share, down from $2.39 billion, or $1.50 per share. Quarterly revenue stood at $3.42 billion, down from $3.7 billion last year, due to a weaker demand for a broad range of products. The financial results met the average analyst expectations of earnings of 42 cents per share on $3.45 billion in revenue. Company''s shares fell 3.3% in pre-market trading.
- 123jump.com Staff
- 23 Jul, 2007
- New York City
Global markets advanced led by a steady gain in New York and European markets. Takeover news worth $35 billion dominated the trading in two regions. Latin markets closed higher following the lead of New York. GlobalSanta Fe and Transocean have agreed to merge. Barclays agreed to sell 19% stake to Asian investors to raise funds for its bid for ABN Amro. United Rentals agreed to be acquired by private equity group for $4 billion. Yen fell to a record low. India and Korea close at a record high.
- Elena
- 23 Jul, 2007
- New York City
European stock markets closed higher on Monday, driven by merger deals in the financial sector with British banking giant Barclays and insurer Friends Provident in the spotlight. Barclays advanced 3% after it agreed to sell a 19% stake to China Development Bank and Singapore''s Temasek Holdings in order to fund an improved bid of 67.5 billion euros for Dutch bank ABN Amro. Germany advanced 0.9%, France also added 0.9%, and the U.K. gained 0.6%.
- Elena
- 23 Jul, 2007
- New York City
U.S. market averages rallied in late Monday trading, driven by several multibillion-dollar deals in various sectors. Opsware surged 36% after Hewlett-Packard said it will buy the automation software maker for $1.6 billion to enhance its portfolio of business technology optimization software. United Rentals, equipment rental company, agreed to be taken private by Cerberus Capital Management for $6.6 billion. The Dow Jones rose more than 100 points, moving towards 14,000 points.
- 123jump.com Staff
- 23 Jul, 2007
- New York City
Infrastructure and real estate stocks led the rally despite weakness in other Asian markets. Larsen & Toubro, GMR Infra, DLF, Untech and Mahindra Gesco jumped. ICICI Bank fell after 25% increase in earnings. UTI Bank priced it IPO in London at a discount and raised $220 million. Suryachakra IPO in Mumbai jumped 14% on relatively low oversubscription. Auto stocks surged on the hope that interest rates are not likely to rise in the near future.
- Elena
- 23 Jul, 2007
- New York City
Wall Street opened higher, benefiting from robust profits in the pharmaceutical sector and news of a takeover in the oil services industry, financial and equipment-rental sectors. The Dow was led higher by drug giant Merck which rose 6% after it posted better-than-expected 12% earnings increase in Q2 and lifted its annual earnings forecast. Rival Schering-Plough added 1% as both its quarterly revenue and earnings beat expectations.
- Elena
- 23 Jul, 2007
- New York City
U.S. stock futures moved to the upside on Monday, boosted by a multibillion-dollar deal in the oil drilling sector as well as stronger-than-expected earnings from drug makers Merck and Schering-Plough. In buyout news, Transocean and GlobalSantaFe said that they agreed to combine to form a $53 billion drilling contractor. Pharmaceutical giant Merck climbed 4.5% in pre-open trade amid 12% increase in Q2 profit. Schering-Plough rose 3.7% after it said its Q2 profit more than doubled.
- Elena
- 23 Jul, 2007
- New York City
The new company will be named Transocean. Under the terms of the deal, Transocean shareholders will receive $33.03 in cash and 0.6996 shares of the combined company for each Transocean share they hold. At the same time, GlobalSantaFe stockholders will get $22.46 in cash and 0.4757 shares of the combined company for each GlobalSantaFe share they hold.