- 123jump.com Staff
- 07 Aug, 2007
- New York City
In early trading in Tokyo Nikkei gained close to 1%. In the afternoon trading market average lost its gain and closed a fraction higher. Fall in oil and commodities trading related stocks and banks led the decliners. Banks and brokerage stocks opened sharply higher, nearly 3%, but lost most of the gain by the end of the day. Trend Micro, Internet security provider, revised its sales guidance for the second quarter by 11% and earings by 68%. Emerging markets in the region closed higher.
- Elena
- 07 Aug, 2007
- New York City
Harrah''s Entertainment posted 85% earnings jump in Q2 to $237.5 million, or $1.25 per share, vs. $128.6 million, or 69 cents per share a year ago, boosted by strong results in Las Vegas and Atlantic City. Quarterly results beat analyst estimates of 98 cents per share. The casino operator posted revenue increase of 14% to $2.7 billion from $2.37 billion last year.
- 123jump.com Staff
- 06 Aug, 2007
- New York City
New York averages rebounded in the final hour of trading on the belief that the next Fed move will be to cut interest rates rather leave them unchaged. The rally powered by bargain hunters lifted stocks of financials, banks, retail and insurance companies. European markets closed lower and in overnight trading several markets in Asia closed 3% or more lower. Akzo Nobel and ICI are a step closer to complete their merger. Banks in Australia, Japan, and Hong Kong fell.
- Elena
- 06 Aug, 2007
- New York City
U.S. stock averages were volatile Monday, reflecting nervousness about credit markets and the impact of subprime mortgages on financial institutions. Bear Stearns, which has lost 35% of its stock market value in 2007, laid off Co-President Warren Spector, due to credit-market weakness and decreasing investor confidence at the second-biggest underwriter of securities tied to the slumping U.S. housing market. The board of the firm greed that 57-year-old Alan Schwartz will become sole president.
- 123jump.com Staff
- 06 Aug, 2007
- New York City
Sensex in Mumbai trading closed 1.6% lower after recovering from a near 3% loss in the market. Banks, real estate, software exporters led the decliners. Bharti Group and Wal-Mart have formed a joint venture to build and operate network of retail stores by the end of next year. Banks fell for the third day in a row. Wipro is reported to be in a deal to acquire New Jersey based Infocrossing for $600 million or $18.70 per share.
- 123jump.com Staff
- 06 Aug, 2007
- New York City
European markets fell across the region. UK and Germany bucked the trend. Akzo Nobel and Henkel are close to acquire chemical company ICI for 6.70 pounds per share or 8 billion pounds. Fortis shareholders agree to merge with ABN Amro Bank. Spain and Switzerland fell dragged by a weakness in European markets. Asian markets closed lower across the region. Internatioal Power of UK acquires wind farms in Germany and Itlay for 1.2 billion euros.
- Elena
- 06 Aug, 2007
- New York City
Wall Street rallied at opening Monday but shortly afterwards erased gains amid growing concerns over credit markets and the impact of subprime mortages on financial institutions. Credit worries were underlined by American Home Mortgage which dropped 36% after bankruptcy filing. Bear Stearns fell 4% after defending its actions in the credit market and laying off a key executive. Merrill Lynch traded near the flat line after UBS upgraded the stock to a buy rating.
- Elena
- 06 Aug, 2007
- New York City
U.S. stock futures advanced slightly on Monday, lifted by gains in the troubled financial services sector and speculations that the Fed Reserve will decide on interest-rate policy that will be favorable to the economy
- 123jump.com Staff
- 06 Aug, 2007
- New York City
Asian markets across the region fell between 1% and 4% with only Shanghai Index managed to buck the regional trend. Japan fell as much as 1.7% before recovering near the close. Singapore and Indonesia dropped nearly 4%. Australia fell 1.7% with a sharp sell-off in banks, resources and energy stocks. Metal stocks gained in Shanghai trading.
- 123jump.com Staff
- 06 Aug, 2007
- New York City
Nikkei closed 0.4% lower but fell as much as 1.7% during the day. Asian markets across the region fell with Singapore and Indonesia leading the decliners. Banks and brokerage stocks led the decline on the worries of hidden liablities related to U.S. mortgage bonds. Yen advanced as carry trade unwinding continued. Mitsubishi Electric jumped 6% on falling oil prices.
- 123jump.com Staff
- 03 Aug, 2007
- New York City
New York Averages were in the gravitational pull, and it got only tighter in the last hour of trading. Market averages fell further in the last thirty minutes of trading. Three popular averages fell more than 2.5% at close, the worst level of the day. Brazil dropped more than 3% and Mexico fell 2.4%. S&P put Bear Stearns on credit watch list with a negative outlook. Toyota Motors reported earnings rise of 32%. Crude oil fell 2% but gold jumped 1.5%.
- Elena
- 03 Aug, 2007
- New York City
European stock markets closed in the negative territory, pressured by fears of slowing U.S. economy amid a weaker-than-expected jobs data. The economy-related concerns offset the positive sentiment generated by strong earnings reports from companies like British Airways. France led decliners with a 1.5% drop, followed by Germany, losing 1.3% and the U.K. falling 1.2%.
- 123jump.com Staff
- 03 Aug, 2007
- New York City
Sensex in India recovered but fell for the second week in a row. Real estate, banks, infrastructure, and cement stocks led the rally. Wholesale inflation declined at the end of the third week in July but remaied above the target range. JSW Steel reported 18% increase in July steel production. Banks gained for the second day in a row on the news that SBI is planning a stake sale in its asset management unit. Sensex is up 12% for the year so far.
- Elena
- 03 Aug, 2007
- New York City
Weaker-than-expected economic data and continuing credit market jitters weighed stocks down Friday. U.S. market averages posted a steeper decline in late morning trading, receiving additional pressure from 4% drop in the shares of Bear Stearns Cos. after Standard & Poor''s downgraded its outlook for the company to negative. As a result the financial and brokerage sectors declined, with Lehman Brothers falling 3% and Merrill Lynch losing 1.5%.