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  • 123jump.com Staff
  • 17 May, 2007
  • New York City

U.S. market averages consolidated after gaining to a record level yesterday. Alliance Data agreed to be bought by Blackstone for $7.4 billion and 24,7 Right Media was purchased by WPP Group. J C Penney, Kohl and Nordstorm reported rising sales and earnings. Oil jumped more than 3% on worries that gasoline supplies may not meet the demand. Bernanke comments on mortgages and current boom in leveraged buyout restrained traders. Weak metals trimmed market averages in Latin America.

  • 123jump.com Staff
  • 17 May, 2001
  • New York City

Stocks dipped as rising crude oil prices and a positive report on business conditions in the mid-Atlantic region suggested the Federal Reserve may be less likely to cut interest rates. GE shed 0.8% and Sun Microsystems rose 4.5% on share buyback program. J C Penney income in the first quarter rose 13%. New York Times ad sales in April dropped 2.2%.

  • Elena
  • 17 May, 2007
  • New York City

European stock markets gained ground on Thursday, boosted by gains for oil giants such as Royal Dutch Shell and advancers on the back of broker upgrades like British Airways and Old Mutual. However, weakness on Wall Street helped limit gains. Cairn Energy climbed 3.7% on takeover speculation and Shell rose 3%. British Airways shares rose 2.4% on positive comments from Goldman Sachs. The U.K. FTSE 100 rose 0.3%, the German DAX 30 added 0.2%, and the French CAC 40 improved 0.2%.

  • Elena
  • 17 May, 2007
  • New York City

U.S. stocks continued to trade in the negative territory as investors locked in profit taking after the recent strong rally. Market also digested data that signaled slower economic conditions in the coming months. Micron Technology weighed on tech shares, losing 3.7% after filing to sell $1.1 billion in convertible notes. However, Sun Microsystems provided support, posting an advance of 4.3% after it announced its board authorized a buyback of up to $3 billion.

  • Elena
  • 17 May, 2007
  • New York City

Alliance Data Systems surged 26% after the provider of transaction, credit and marketing services agreed to be acquired by Blackstone Group in a deal worth $7.8 billion. The private-equity firm is paying $81.75 a share, a 30% premium to Wednesday''s closing price of Alliance Data, including debt. In other deal news, Acxiom surged 16% after the company agreed to be acquired by Silver Lake and ValueAct Capital for $3 billion, or $27.10 per share in cash, including debt assumption.

  • Elena
  • 17 May, 2007
  • New York City

U.S. stocks opened lower on Thursday, with investors taking profit after recent rally ahead of data on leading economic indicators. Wall Street also awaited a speech by the Fed Reserve Chairman Ben Bernanke that could provide clues to whether problems with subprime mortgage loans could affect the broader economy. An increase by the oil price also weighed on market sentiment, as light sweet crude rose 47 cents to $63.02 on the Nymex.

  • Ivaylo
  • 17 May, 2007
  • New York City

London equities were trading in positive territory by mid-day on Thursday as the oil sector advanced on increasing crude prices and amid speculation of more takeover activity. Credit-checking firm Experian was one of the best perfomers, while Prudential powered ahead on talks that it may be broken up. The FTSE 100 rose 12 points, or 0.2%, to 6,571.9 in lunchtime exchanges.

  • Elena
  • 17 May, 2007
  • New York City

U.S. stock futures declined Thursday following solid gains in the previous session. Market sentiment was hurt by profit taking amid expectations for a quiet day of economic news. In corporate news, Hewlett-Packard gained 1.7% in the pre-open after it posted Q2 results that included well-received extra $3 billion in sales. Sun Microsystems rose 3.3% after announcing its board approved a buyback of up to $3 billion in outstanding shares.

  • Ivaylo
  • 17 May, 2007
  • New York City

Asian markets closed mostly higher, although Japan bucked the trend and slipped after the government posted gross-domestic product figures that were below expetations. Not surgprisingly, the Bank of Japan left its key interest rate at 0.5%. Japanese exporter shares were bolstered by news from the U.S. that factory production advanced 0.7% in the past month. All other major regional indices finished higher.

  • Elena
  • 17 May, 2007
  • New York City

Hewlett-Packard said net income was $1.78 billion, or 65 cents per share, vs. $1.90 billion, or 66 cents per share, including a tax settlement gain of 15 cents. Second-quarter revenue for HP rose by 13% to $25.5 billion. HP projected Q3 revenue of $23.7 billion to $23.9 billion, and narrowed its forecast range for Q3 earnings per share to 64 cents to 65 cents from a prior 63 cents to 65 cents. Company''s shares rose 1.3% in pre-market trading.

  • Ivaylo
  • 17 May, 2007
  • New York City

The market was firm throughout Thursday on a strong performance mainly from banking stocks and a rally in Reliance Industries. Bajaj Auto was in focus today as lack of clarity on the demerger issue pushed the share sharply lower at close. SBI and Reliance Industries led the advancers today, while Bajaj Auto was the worst performing stock. The government said licenses of cable operators will be cancelled if they overcharge.

  • Ivaylo
  • 17 May, 2007
  • New York City

European markets advanced in early trading on Thursday, with U.K. insurer Prudential leading gainers on talk that it may be bought out and by conglomerates including Siemens and Philips Electronics. Volumes were low in Europe with many traders on vacation for the Ascension Day holiday. The U.K. FTSE 100 gain 0.3%, the German DAX 30 advanced 0.5% and the French CAC 40 improved 0.4%.

  • Ivaylo
  • 17 May, 2007
  • New York City

Gold and silver futures plunged Wednesday, pulled down by the firmer U.S. dollar and technical selling. The most-active July copper contract dipped also injured by the the stronger dollar, news about a decline in building permits and chart-based factors. On the Chicago Board of Trade, soybean futures closed sharply higher after climbing to 6-week highs on aggressive fund buying interest.

  • 123jump.com Staff
  • 16 May, 2007
  • New York City

U.S. stocks advanced after billionaire investors Buffett, Lampert and Carl Icahn increased their holdings of drug companies, banks and railroads. Bausch & Lomb jumped 9% after it agreed to be acquired by Warburg Pincus for $65 per share. Agile Software rose 13% on agreement to be bought by Oracle for $495 million. Applied Materials slid 3.4% after forecasting flat sales in third quarter. Brazilian currency rose on debt rating upgrade. HP reported earnings fall of 7% on revenue gain of 13%.

  • 123jump.com Staff
  • 16 May, 2007
  • New York City

U.S. stocks advanced mainly on a mixed reading on the housing sector that had briefly helped send stocks lower. Citigroug rose 4% after billionaire hedge fund manager Ed Lampert said he acquired more than 15 million shares of the financial services conglomerate. Dell Inc. rose 4.2%.