- Elena
- 30 Jul, 2007
- New York City
U.S. stock futures pointed modestly higher Monday, with markets trying to recover from heavy losses and four-year lows amid continued concerns in the credit market. Among pre-market highlights, American Home Mortgage dropped 43% after the company delayed the payment of its quarterly dividend. In earnings news, ValueClick fell 16% after it cut its earnings outlook, Verizon posted an in-line 6% profit rise and Humana said its earnings more than doubled.
- 123jump.com Staff
- 30 Jul, 2007
- New York City
Market averages in Europe trade lower across the region ahead of New York opening. Telefonica, HSBC, and Statoil earnings news dominated in local exchanges. Higher steel stocks in Japan lifted select metals stocks in European trading. HSBC earnings jump 24% on 23% rise in revenue. Telefonica earnings gain on one time sale of assets. Latin American divison led in the revenue gains for the company. Germany and Spain led the indexes lower across the region.
- 123jump.com Staff
- 30 Jul, 2007
- New York City
CSI 300 Index in Shanghai led the rebound in the region with a gain of more than 2%. Singapore, Hong Kong, and Korea led the advancing markets in the region. Thailand and Taiwan remained weak. Liberal Democratic Party loss of control in the upper house election may create more legislative chaos in Japan. HSBC rerported first half earnings gain of 24% on 23% increase in sales. Korea based Doosan Infracore has agreed to purchase construciton vehicle business from Ingersoll Rand.
- Elena
- 30 Jul, 2007
- New York City
Verizon Communications announced Monday it agreed to acquire Rural Cellular Cop. in a deal worth $2.7 billion, or $45 a share. The transaction represents a premium of $13.19, or 41% over Rural Cellular''s Friday close of $31.81 a share. Verizon also reported positive Q2 2007 financial results on higher margins and rising revenue in wireless, broadband, data, video and global IP markets.
- 123jump.com Staff
- 30 Jul, 2007
- New York City
Nikkei index fell nearly 1.5% in the morning hours trading but managed to close at fractional loss. The earnings from steel companies Nippon Metal, Nippon Steel, JFE Holdings lifted the sentiment. The companies reported rising sales and solid improvement in earnings for the first quarter results. Mitsubishi Electric reported earnings gain of 87% on 6% rise in sales. Export sensitive stocks led by Canon and Sony fell.
- Elena
- 27 Jul, 2007
- New York City
U.S. stock futures were pointing lower Friday, despite data showing better-than-expected gross domestic product and a drop in core inflation in Q2. The Commerce Department said that the U.S. economy was strong in Q2 as the drag from the housing sector lessened. GDP advanced 3.4%, slightly higher than the 3.3% growth expected by economists.
- 123jump.com Staff
- 27 Jul, 2007
- New York City
Asian markets fell in sympathy with a decline in Europe and New York. Several market analysts encouraged investors in India, Brazil, and Turkey to take advantage of this sell-off on promising outlook on earnings. Domestic economy remains healthly in most emerging markets on low cost of borrowing, rising exports, and increasing domestic wages. Turkey fell 1.35% at the end of mid-day session after falling 4.2%,leading the global decline on Thursday. Taiwan, Korea suffered similar declines.
- Elena
- 27 Jul, 2007
- New York City
The transaction represents a 32% premium to Kyphon''''s closing price of $53.68 on Thursday. The deal is expected to close in the first quarter of 2008. It is not expected to contribute to earnings in the first full year after the deal and provide a boost to the bottom line after that.
- 123jump.com Staff
- 27 Jul, 2007
- New York City
It was a repeat of sell-off what Wall Street and European markets faced a day ago. All market sectors reflected in the index declined. The recent sell-off nearly wiped out the gains of the year so far. June retail sales fell 0.4% in japan dragging retail sales with it.Canon and Fujitsu fell more than 5%.
- 123jump.com Staff
- 26 Jul, 2007
- New York City
Markets around the world tumbled but for different reasons. New York fell sharply on the worries that mortgage market problems will drag several highly leverage deals and will lower the preminums ofered by the leverage buyout companies. Europe fell on lower earnings from insurance companies. South American markets were dragged lower by a sharp decline in New York. Shipping and resources stocks fell in Japan and Australia. Cement stocks fell in India and steel stocks plunged Korea.
- Elena
- 26 Jul, 2007
- New York City
European stock markets posted Thursday the second biggest one-day drop of the year, dragged down by continued worries about the credit market and subsequent heavy losses in the shares of insurers. Legal & General fell 8.2%, Aviva dropped 5.4%, and Admiral Group lost 5%. Resource companies also showed considerable weakness. The U.K. posted the steepest decline, down 3.2%, followed by France, down 2.8%, and Germany losing 2.4%.
- Elena
- 26 Jul, 2007
- New York City
U.S. market averages posted steep declines, as some strong earnings failed to offset continued worries about credit markets and the housing sector. The Commerce Department said that sales of new homes dropped 6.6% in June to a seasonally adjusted annual rate of 834,000 units, the largest percentage drop since January. Oil prices hovering round $77 a barrel also weighed.
- Elena
- 26 Jul, 2007
- New York City
D.R.Horton swung to a Q3 loss of $2.62 a share, from net income of 93 cents a share a year ago. The stock dropped 4.5%. Among other companies releasing quarterly results, Dow Chemical reported that its net income increase to $1.07 a share, from $1.05 a share last year, with sales rising 6% to $13.27 billion. The results beat analyst expectations, but the stock dropped 4.3%.
- 123jump.com Staff
- 26 Jul, 2007
- New York City
Shanghai CSI 300 Index edged up a fraction on earnings optimism. Moodys revised debt rating of China and Hong Kong on large and growing foreign exchange reserves. Baidu.com reported earnings and sales revenue growth of more than 100%. The company ADR in New York jumped 17%. Baidu.com revised its annual earnings and sales guidance. Haitong Securities, one of the three Shanghai listed brokerage firm reported earnings surge on rising stock market.
- Elena
- 26 Jul, 2007
- New York City
Oil giant Exxon Mobil posted an unexpected drop in Q2 profit, hurt by lower natural gas prices. However, the company released net income of $10.26 billion, the fourth-largest quarterly profit recorded by a publicly traded U.S. company. On a per-share basis, Exxon Mobil earned $1.83 a share, up from $1.72 from a year ago, missing forecast of $1.96 a share. Company