- Elena
- 19 Jun, 2007
- New York City
U.S. stocks turned in a lackluster performance, reflecting mixed housing data showing that May home construction fell roughly in line with estimates, while building permits rose more than expected. Quarterly earnings decline posted by electronics retailer Best Buy weighed on the sentiment, raising concerns about consumer spending. In other earnings news, Carnival added 1% after the world''s largest cruise group posted a 3% profit increase in Q2.
- Elena
- 19 Jun, 2007
- New York City
Expedia, online travel site operator, surged 16% after the company said it will repurchase up to 42% of its common stock for $3.5 billion. The company is considering repurchase of as many as 116.7 million shares for at least $27.50. In other corporate news, Home Depot agreed to sell its supply division to three private equity firms in a deal worth approxiamtely $10 billion.
- Elena
- 19 Jun, 2001
- New York City
Wall Street opened below the flat line after data showing a smaller-than-expected drop in home construction failed to offset disappointing earnings from Best Buy, as well as concerns about rising crude oil prices. In corporate news, Blackstone Group is expected to price its long-awaited IPO on Thursday. The private equity fund plans to sell investors a 12.3% equity stake in its management business for about $4 billion, with shares expected to price between $29 to $31.
- Ivaylo
- 19 Jun, 2007
- New York City
Tesco and Vodafone led the UK market lower in mid-day trading. Tesco, the biggest retaler in the UK, reported disappointing Q1 same-store results and Vodafone weighed as there were reports that American giant AT&T was not interested in bidding for the British company. Capita led gainers on broker comment, while the rise in oil prices boosted BP. The benchmark index, FTSE 100, lost 0.4% to 6696.9.
- Elena
- 19 Jun, 2007
- New York City
U.S. stock futures recovered from earlier weakness following a report that showed a slightly smaller-than-expected drop in the pace of May home construction. The Commerce Department said that housing starts fell by 2.1% to a seasonally adjusted annual pace of 1.47 million in May, as building permits for new construction rose 3%. However, disappointing quarterly results reported by Best Buy prevented stock futures from getting into the positive territory.
- Ivaylo
- 19 Jun, 2007
- New York City
Asian markets advanced Tuesday with industrial stocks gaining in South Korea and Japan, while China was boosted by property development shares. Leading gainers in Japan were Kawasaki Heavy, Oji Paper and Tokushi Tokai, and in South Korea Daelim Industrial and Daewoo Engineering & Construction. Stock markets in Hong Kong and Taiwan were closed for holidays.
- Elena
- 19 Jun, 2007
- New York City
The electronics retailer said its quarterly profit fell to $192 million, or 39 cents per share, from $234 million, or 47 cents per share a year ago. Revenue rose 14% to $7.93 billion, from $6.96 billion last year. Quarterly results came in below earnings estimates of 49 cents a share, but topped revenue expectations of $7.85 billion.
- Ivaylo
- 19 Jun, 2007
- New York City
The benchmark index rallied Tuesday buoyed by the FPO of ICICI Bank which was fully subscribed within an hour of sale opening. Intense buying in large-caps ONGC, Reliance Industries, Tata Steel also aided the rally. Infosys led IT stocks lower on further appreciation of the rupee. SBI was the top performer on the market, while Satyam was the worst. Sterlite Industries sold $1.75 billion of stock through the issue of American depository shares.
- Ivaylo
- 19 Jun, 2007
- New York City
European stocks gained slightly on Tuesday morning supported by oil exploration companies on the strength of oil prices hovering above $69 a barrel and on Bayer as the pharmaceutical company upped its earnings outlook. The only disappointment came from Tesco, which missed market estimates. The U.K. FTSE 100 index rose 0.2%, the German DAX Xetra 30 index increased 0.4% and the French CAC-40 index advanced 0.3%.
- Ivaylo
- 19 Jun, 2007
- New York City
Gold futures advanced slightly Monday for the third straight day as the market kept a close eye on the U.S. dollar dipping against the euro and Treasury yields holding steady. Platinum and copper prices also gained, boosted by labor unrest at major producers. Crude oil prices surged to levels unattained since September after labor unions in Nigeria called for a general nationwide strike.
- 123jump.com Staff
- 18 Jun, 2007
- New York City
Merger talks in New York, Europe and Asia helped weak averages in New York trading, but at close, market averages declined. BHP is reported to consider reviving buyout plans for Alcoa. In Europe, Imperial Chemical received a bid of $14 billion. In Asia, the yen rose to a seven-year high against dollar and euro. Hong Kong and Korea closed at new high. Brazilian currency, the Real gained ground against dollar. Yahoo, in the after hours rose 9%. Terry Semel, CEO of the company resigned.
- Elena
- 18 Jun, 2007
- New York City
European stock markets finished slightly lower on Monday, despite merger-and-acquisition activity, with Akzo Nobel and rival paint producer Imperial Chemical Industries in focus. ICI jumped 15.6% after rejecting a 600-pence takeover approach from Akzo Nobel whose shares dropped 1%. The German DAX 30 rose 0.1%, while the U.K.''s FTSE 100 lost 0.4%, and the French CAC 40 fell 0.3%.
- Elena
- 18 Jun, 2007
- New York City
Stock market averages turned in a lackluster performance in late morning trading, unable to sustain the earlier gains made on the heels of merger-and-acquisition new. Market failed to extend last-week rally, despite a report that BHP Billiton is planning a bid for Alcoa. Shares of the aluminum giant rose 2.5%. Worries about the subprime sector reignited on news that a group of hedge fund managers at Bear Stearns try to line up new investors to keep a fund invested in subprime assets afloat.
- Elena
- 18 Jun, 2007
- New York City
Shares of Genesco climbed 8.3% after the footwear and accessories retailer agreed to be acquired by Finish Line in a cash-deal worth $1.5 billion. In other deal-related news, BHP Billiton is reportedly reviewing plans to make a $40 billion offer for Dow component Alcoa. Shares of the aluminum giant rose 1.8% on the news.
- Elena
- 18 Jun, 2007
- New York City
U.S. stock market advanced at opening Monday, trying to extend last-week rally on the back of deal-making news. Dow component Alcoa gained 2% after a report said that BHP Billiton was considering a $40 billion acquisition bid of the aluminum producer. Boeing also drew attention as the Paris Air Show began and the airline carrier signed two small contracts. The stock lost 0.3%.