- Elena
- 10 Jul, 2007
- New York City
European stock markets closed in the negative on Tuesday, pressured by weak dollar and a record foreign-exchange high for the euro. Profit warning from retailer Home Depot sparked new concerns about the struggling U.S. housing market. BHP Billiton dropped 3.9%, Anglo American dropped 3.6%, and Rio Tinto Group tumbled 2.9%. Germany and France led decliners, posting a drop of 1.4%.followed by the U.K. with a decline of 1.2%.
- Elena
- 10 Jul, 2007
- New York City
U.S. stocks regained some ground in late morning trading, as investors turned to bargain hunting. However, the three major averages continued to trade below the flat line, due to significant weakness among airline, housing, and retail stocks. Sears dropped 7%, sending Wal-Mart Stores and Target down 1.7% each. Subprime worries weighed on financial companies, with Lehman Bros falling 2.5% and Bear Stearns, down 1.6%.
- Elena
- 10 Jul, 2007
- New York City
Among companies posting positive results, Pepsi Bottling Group rose 4% after it raised its outlook for full-year earnings and said Q2 profit rose 9.5% to 70 cents a share, beating estimates. Dow component Home Depot rose 1.3% although it cut its full-year earnings forecast, due to sluggish housing market. The company launched a tender offer for 250 million of its shares.
- Elena
- 10 Jul, 2007
- New York City
Wall Street opened lower on Tuesday amid unimpressive start of Q2 earnings season given by Alcoa''s earnings and slashed profit outlooks at Home Depot and Sears. Sears dropped 7% after warning that Q2 profit will decline, due to weaker sales. General Motors bucked the downward trend, rising 1.5% on a new upgrade from J.P. Morgan. Investors were also cautious ahead of speech by Federal Reserve Chairman Ben Bernanke on housing and inflation.
- Ivaylo
- 10 Jul, 2007
- New York City
The UK market is trading sharply lower as investors took profits as US futures show that Wall Street will slip at the start after Home Depot lowered earnings estimates. Miners, cruise operator Carnival and British Airways are all down, while retailers are bucking the downtrend as Marks & Spencer leads the sector higher. The benchmark index FTSE 100 lost 0.87%, and is trading at 6,654 in mid-afternoon session.
- Ivaylo
- 10 Jul, 2007
- New York City
Asian markets finished in a mixed mode on Tuesday with Japan falling as real estate stocks leading the decline on fears of a rise in interest rates. Indexes in South Korea and Hong Kong advanced as banking stocks were strong and aided the rally, while China declined on profit-taking. Australia also closed lower as resource stocks retreted from recent gains.
- Elena
- 10 Jul, 2007
- New York City
U.S. stock futures pointed to a lower opening Tuesday, reflecting unimpressive start to Q2 earnings season and worries about corporate earnings, due to lowered profit outlooks from two retail companies. Renewed housing and inflation concerns ahead of a speech from Fed Reserve Chairman Ben Bernanke also weighed. Alcoa added 0.7% in the pre-open after posting in-line-with-estimate 4% profit decline.
- Ivaylo
- 10 Jul, 2007
- New York City
The market opened higher and until mid-day trading was steady. In the afternoon session profit taking emerged which weighed on banking, cement and telecom shares, while auto and IT stocks saw intense buying. Tata Motors led the advancers with Infosys also advancing. Reliance Comms and HDFC Bank led the decliners. The Indian rupee edged higher towards a nine-year high. Infosys Technologies releases its Q1 results on Wednesday, July 11 2007.
- Ivaylo
- 10 Jul, 2007
- New York City
European markets declined for the first time in three days on Tuesday after Home Depot cut its profit guidance, raising concern the U.S. housing market is weighing on the economy. Foodmakers limited the decline, though, as Groupe Danone offered to buy Royal Numico for $16.8 billion, rekindling takeover speculation in the industry. By region, the U.K. FTSE 100 shed 0.2%, the German DAX 30 lost 0.3% and the French CAC 40 dipped 0.3%.
- Ivaylo
- 10 Jul, 2007
- New York City
Gold futures gained Monday on a softer dollar, higher energy prices and worries over recent world political events. Other commodities markets ended mixed. In the energy market, gasoline finished higher as BP PLC''s shutdown of a large oil-processing unit raised supply concerns. In Chicago, corn prices decloined amid forecasts for wetter, cooler weather in the Midwest.
- 123jump.com Staff
- 09 Jul, 2007
- New York City
Alcoa kicks-off the second quarter earnings with a gain of 5% from Q1 2007 and drop of 4.8% from a year ago. Analysts were looking for the company to increase earnings between 4% and 5%. For the six months company revenue jumped nearly $1 billion to $15.9 billion and earnings of $1.37 billion or at $1.56 per share. After nearly three years of double digit earnings growth, earnings this year are likely to slow down amid rising energy costs, falling housing market and declining dollar.
- 123jump.com Staff
- 09 Jul, 2007
- New York City
U.S. market averages traded up but appeared in a holding pattern ahead of earnings season start with the earnings from Alcoa. Buybacks of $10 billion from J&J and $15 billion from ConocoPhillips lift stocks. Terex jumped 9% on a broker upgrade. Google purchases software security firm. European stocks closed higher on takeover and rising metal prices. India, South Korea, Brazil, and Hong Kong close at record levels. Japan near seven-year high.
- Elena
- 09 Jul, 2007
- New York City
European stock markets closed in the positive on Monday, boosted by strength among resource companies,food and beverage shares, as well as telephone companies. Miners led advancers, with Antofagasta and Kazakhmys rising more than 2.7%. BHP climbed 1.8%. Sugar maker Tate & Lyle jumped 4.7% on upgrade by Credit Suisse. The German DAX Xetra 30 added 0.4%, the U.K.''s FTSE 100 gained 0.3%, and the French CAC-40 finished virtually flat at 6,104.66.
- Elena
- 09 Jul, 2007
- New York City
U.S. market averages turned in a lackluster performance, losing direction after the initial gains. The downward move by the Nasdaq was due to weakness in the tech sector, following a profit warning from Lexmark. The stock dropped 6%. Strong gains by General Motors and Boeing, respectively 2% and 1.2%, helped keep the Dow above the flat line. Housing, health care provider, and retail stocks posted strength, while hardware and telecoms stocks declined.
- Elena
- 09 Jul, 2007
- New York City
Diversified industrial manufacturing firm Sequa Corp. agreed Monday to be bought by the Carlyle Group in a deal worth $2.7 billion. Under the terms of the agreement, Carlyle will acquire all of the outstanding Class A and Class B shares of Sequa for $175.00 per share in cash. The transaction is a premium of 54% to the closing prices of Sequa''''s Class A and Class B shares on July 6.