- Ivaylo
- 09 May, 2007
- New York City
Gold and silver declined Tuesday on a higher U.S. dollar and as investors turned their attention to the Federal Reserve policy meeting on Wednesday. Precious metals were under pressure as the euro slipped against the dollar ahead of several central bank meetings this week. The Fed meets Wednesday, while the European Central Bank and the Bank of England meet on Thursday. Platinum and palladium also settled lower, while copper rose.
- 123jump.com Staff
- 08 May, 2007
- New York City
U.S. stocks were lower hurt by some disappointing earnings news and economic data. Stocks also dropped on speculation Federal Reserve policy makers tomorrow will say its interest-rate decision. Tyco second-quarter earnings dropped 13% on costs to split into three independent companies. AK Steel Holding rose more than 10% on takeover news. Cisco net income gained 34% and revenue rose 21% to $8.87 billion.
- 123jump.com Staff
- 08 May, 2007
- New York City
U.S. stocks slipped as investors turned cautious the day before a Federal Reserve interest-rate decision helped by some disappointing earnings. Merrill Lynch shares fell 1.5%, JPMorgan Chase''s shares shed 0.5% and shares of Goldman Sachs dropped 1.1%. Shares of Marsh & McLennan dropped 1.4%, while Lazard''s stock lost 2.4%. HP shares rose 2.4%. and Motorola fell 2.3%. Microstrategy dropped 11% on lower earnings.
- Elena
- 08 May, 2007
- New York City
European stock markets lost ground on Tuesday, dragged down by cyclical stocks ahead of central bank decisions around the globe. Losses on Wall Street before Fed Reserve
- Elena
- 08 May, 2007
- New York City
U.S. stocks continued to post losses as investors turned to consolidation of recent gains, awaiting the Fed Reserve''s decision on interest rates. Economic data released today added further pressure to stocks, as the Commerce Department said wholesalers'' inventories grew at a slower rate in March, coming in below expectations.
- Elena
- 08 May, 2007
- New York City
Among earnings-related movers, Warner Music Group inched up after posting a wider Q2 loss, hurt by restructuring costs and a decline in revenue. Warner Music lost 19 cents per share, compared with a loss of 5 cents a year ago, missing expectations of 9 cents loss. Pharmacy services provider CVS/Caremark announced Q1 earnings increase of 24% on strong revenue growth. Net income grew to 43 cents per share from 39 cents per share a year ago, missing expectations of 45 cents a share.
- Elena
- 08 May, 2007
- New York City
Wall Street opened in the negative on profit-taking ahead of the Fed Reserve''s meeting on interest rates. However, Dow member Hewlett-Packard helped limit losses, rising 2% after the computer maker raised its Q2 earnings and revenue outlook. In deal news, AK Steel climbed 15% amid reports that Arcelor Mittal is in talks to buy the U.S. steel producer in a $4.5 billion, or $40 a share, deal.
- Ivaylo
- 08 May, 2007
- New York City
The market in U.K. retreated from a six-year high on Tuesday despite strong gains for Reuters. The news and information group added to the sharp rise on Friday after it gave details of a deal with Thomson Financial of Canada. Also, a mixed mining sector weighed on the market. Having closed at its highest level since September 2000 on Friday, the FTSE 100 shed 36.3 points to 6,567.4 in late morning trade.
- Elena
- 08 May, 2007
- New York City
U.S. stock futures indicated a lower opening Tuesday, hurt by cautiousness ahead of the Fed Reserve''s interest rate policy decision on Wednesday. On the economic news front today, March wholesale inventories figures are due out after the open. Among pre-market highlights, Motorola lost 2.1% after it said its shareholders re-elected the company''s board but didn''t elect Icahn who failed to receive support from major investment funds.
- Ivaylo
- 08 May, 2007
- New York City
Most Asian markets ended lower Tuesday, with Japan declining slightly while China reached a record high on gains in retailers and property developers. Although Australia set an intraday record earlier in the session, the market in Sydney retreated and ended with a loss. The markets in South Korea and Taiwan also declined. A day after ending at a record high HK dipped today.
- Elena
- 08 May, 2007
- New York City
The companies released details of the proposed deal which values Reuters at $17.7 billion. According to the agreement, Thomson would offer 0.16 of its own shares and 352.5 pence in cash for each share in Reuters, which at Monday''s prices would value the company at 697 pence a share, or 8.76 billion pounds. Reuters'' stock lost 0.7% in pre-market trading.
- Ivaylo
- 08 May, 2007
- New York City
The benchmark index opened with a positive bias but soon plunged in negative territory on a decline in IT and banking stocks. The market recovered in noon deals on strength in cement and metal shares but finished lower on selling pressure in final hour trading. SBI and Hero Honda were the worst performing stocks, while ACC led the advancers. The government has not made a decision to allow let Foreign Direct Investment in retail sector.
- Ivaylo
- 08 May, 2007
- New York City
European markets fell on Tuesday as investors took profits from recent strong gains. Royal KPN reported earnings that missed analysts estimates and chemical maker Clariant profit dropped on higher energy costs. By mid morning, Frankfurt Xetra Dax shed 0.5%, the CAC 40 in Paris lost 0.4% and London FTSE 100 fell 0.4%.
- Ivaylo
- 08 May, 2007
- New York City
Platinum surged in New York on Monday on fund buying on a day when global activity was lighter than usual as the market in U.K. was closed for public holiday. Gold and silver edged higher but held in narrow ranges, supported by the continuing weakness of the U.S. dollar. Copper futures ended lower after a strike ended in Peru and some traders took profits.
- 123jump.com Staff
- 07 May, 2007
- New York City
Higher commodity prices and cheap credit continues to fuel a wave of mergers. Alcoa launched a hostile bid for Alcan. ABN Amro said it had received a $24.5 billion conditional bid for LaSalle Bank from a consortium led by RBS. Liberty Mutual Groups agreed to buy competitor Ohio Casualty Corp. for $2.7 billion in cash, or $44 a share. Chilean government forecasted GDP growth rate of 5.7% in 2007. Brazil based Banco Bradesco earnings jumped 11%.