- Elena
- 24 Apr, 2007
- New York City
European stock markets finished in the negative on Tuesday, dragged down by sharp declines in Spanish construction stocks and weaker-than-expected U.S. consumer confidence and housing data. In Spain, shares of Sacyr Vallehermo slipped 7.8%, Acciona dropped 5%, Fomento Construction lost 6.8% and ACS fell 4.4%. The U.K.''s FTSE 100 slid 0.8%, the German DAX 30 dropped 0.9% and the French CAC-40 lost 0.5%
- Elena
- 24 Apr, 2007
- New York City
Wall Street advanced at opening on Tuesday, with the Dow Jones moving towards the 13,000 level, on well-received earnings outlook from chip giant Texas Instruments which surged 8.5%. IBM was the biggest gainer among blue chips, rising 3% after the company raised its quarterly dividend and increased its stock buyback plan by $15 billion. DuPont also supported the blue-chip average, rising 1.5% after its earnings topped expectations.
- Ivaylo
- 24 Apr, 2007
- New York City
London stocks swung from early gains on Tuesday as concern about the real estate sector in Spain weighed on the FTSE100 index. Yell plunged on a warning of slower than expected growth in the US while banks declined as the market questioned some of the cost savings projected by Barclays deal with ABN Amro yesterday. By mid-day trading, the FTSE 100 lost 51.2 points to 6,428.5.
- Ivaylo
- 24 Apr, 2007
- New York City
Asian markets closed mixed on Tuesday, with Japan edging lower on worries over increasing oil prices, while Hong Kong closing a bit higher on advances in the property sector. Crude-oil prices sent shares lower earlier in the day as investors worried about how higher motor-fuel costs might affect consumer spending in the U.S. China, South Korea and Taiwan finished also higher, while Australia ended lower.
- Elena
- 24 Apr, 2007
- New York City
U.S. stock market futures pointed to a higher opening Tuesday, boosted by gains in the shares of Texas Instruments and Alcatel-Lucent which managed to offset negative sentiment, generated by lowered sales forecast from Target and some caution from Juniper Networks. Texas Instruments surged 9.1% in pre-open trading after the microchip maker posted a strong outlook, saying that its business was improving after two straight quarters of falling sales.
- Elena
- 24 Apr, 2007
- New York City
Texas Instruments Inc. announced after the closing bell on Monday that its Q1 profit dropped 12% from a year ago, due to the sale of a business unit and weaker demand for its chips. The company said it earned 35 cents per share, down from 36 cents per share last year. Revenue fell to $3.19 billion from $3.33 billion a year ago. However, Texas Instruments issued a robust Q2 forecast and said its business is improving after two straight quarters of declining sales.
- Ivaylo
- 24 Apr, 2007
- New York City
The benchmark index opened with a negative bias and dipped in morning deals on weak global markets. But after the Reserve Bank of India announced it will keep keep its policy rates unchanged this year, the market rallied. Banks, auto stocks led the rally with SBI the best performer, while tech stocks ended lower on the stronger rupee against the dollar. RBI left its benchmark overnight lending rate unchanged to support slowing economic growth.
- Ivaylo
- 24 Apr, 2007
- New York City
European markets slumped on Tuesday, led by Spain Ibex index, as mounting fears over the financial stability of real estate company Astroc led to sharp falls in the property and construction sectors. Also, Alcatel-Lucent posted an operating loss and Yell Group said U.S. revenue growth will slow. In Paris, the CAC 40 fell 0.6%, Frankfurt Xetra Dax lost 0.9% and London FTSE 100 shed 0.7%.
- Ivaylo
- 24 Apr, 2007
- New York City
Arabica coffee futures slipped to nine-month lows on the New York Board of Trade Monday, in spite of a forecast of a small Brazilian crop. Raw sugar in foreign ports slid to 21-month lows as funds sold, while gold and silver futures finished mixed, with neither making a big move since the dollar was steady. Copper bounced from early weakness to finish with a modest gain.
- 123jump.com Staff
- 23 Apr, 2007
- New York City
Global deal making reached a new high with more than $125 billion of deals announced. U.S. stocks fell after oil prices climbed and concern mounted that home loan defaults will accelerate, overshadowing the biggest day for takeovers since 2000. Earnings news continued to roll in. Hasbro reported first-quarter profit amid strong performance across the toy product lines,stock rose 8.4%. Kimberly-Clark reported a 64% increase in quarterly profit and gained 7.8%.
- 123jump.com Staff
- 23 Apr, 2007
- New York City
Stocks retreated as rising oil prices chilled investor enthusiasm for strong earnings reports and new takeover activity. Though the U.S. economy has been slowing and the dollar has been weakening, the takeover activity remains robust, giving investors reason to believe U.S. companies will keep finding ways to pull in profits. Whole Foods jumps to two-month high and Bausch & Lomb surges 8% on buyout rumors.
- Elena
- 23 Apr, 2007
- New York City
European stock markets closed in the negative on Monday, despite positive news from Swiss giants Novartis and Nestle. The banking sector weighed as investors digested a 67-billion-euro bid launched by Barclays to buy ABN Amro. Shares of ABN Amro turned lower to close down 1.4% after a potential bidding consortium cancelled talks they were due to have with the Dutch bank on Monday. Barclays shares lost 2.3%. The French CAC-40 fell 0.4%, the U.K. FTSE 100 lost 0.1%, the German DAX 30 lost 0.1%.
- Elena
- 23 Apr, 2007
- New York City
U.S. stocks traded in a lackluster fashion, with the Dow a little off the 13,000 mark weighed down by Pfizer. The company lost 1.4% following a brokerage downgrade on its stock. Hasbro, the No. 2 U.S. toymaker, climbed 7% after it reported quarterly profit well above analyst estimates. Biotech stocks were the most notable gainers, driven higher by surging MediImmune on the back of a $15.6 billion buyout offer from AstraZeneca.
- Elena
- 23 Apr, 2007
- New York City
Merger deals in the bank sector were the leading market drivers on Monday. After Barclays reached an agreement to acquire ABN Amro in a deal worth $91 billion, Bank of America said Monday it agreed to buy LaSalle Bank Corp. for $21 billion. Fortis, Royal Bank of Scotland and Santander said they cancelled talks with ABN Amro that were due to be held on Monday.
- Elena
- 23 Apr, 2007
- New York City
Wall Street posted modest gains at opening on Monday, reflecting some profit taking after last-week strong gains, as well as news of two mega mergers, including the UK''s Barclays which agreed to buy Dutch bank ABN Amro for $91 billion in the biggest bank deal in history. In another deal, drugmaker AstraZeneca agreed to pay $15.6 billion for U.S. biotech company MedImmune. AstraZeneca shares lost 4.3%, while MedImmune surged 17.5%.