- Elena
- 18 May, 2007
- New York City
Microsoft announced Friday an agreement to acquire Aquantive in an all-cash deal, valuing the company at approximately $6 billion. Microsoft offered to buy the shares of the digital marketing technology provider at $66.50 each, a healthy premium to Thursday''s close at $35.87. The transactions is expected to complete in the first half of fiscal 2008.
- Ivaylo
- 18 May, 2007
- New York City
The benchmark index was highly volatile Friday, opening with a negative bias on weak global markets. IT stocks helped the index regain lost territory at noon, but it was banking stocks which performed the best in late trading. HDFC Bank and ICICI Bank led the advancers, while Bajaj Auto led the decliners. Reliance Industries hit a record high. The wholesale inflation this week was lower than last week.
- Ivaylo
- 18 May, 2007
- New York City
European markets reached six-and-a-half-year highs on Friday as merger talk drove advances in the oil sector, while aerospace group EADS was boosted by rumours of the sale of a stake. Oil stocks were higher, both by crude prices surging back towards $70 a barrel, and by merger talk between Royal Dutch Shell and BP. By late morning, Frankfurt Xetra Dax added 0.8%, the CAC 40 in Paris added 0.8% and London FTSE 100 climbed 0.8%.
- Ivaylo
- 18 May, 2007
- New York City
A combination of bearish fundamental influences came together and weighed on copper futures Thursday. According to investors, the market is entering a period when demand tends to slow on a seasonal basis. Much of the building wire and other copper-related products used for the U.S. construction season is purchased in the spring. Some of the pressure on gold and silver spilled over from the second straight day of sharp drops in copper prices.
- 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.