- Elena
- 20 Jun, 2007
- New York City
U.S. stocks advanced in pre-open trading on Wednesday, boosted by higher-than-expected earnings from Morgan Stanley and lower bond yields. Morgan Stanley advanced 2.2% after posting 40% earnings increase, beating analyst estimates. Positive sentiment was also generated by a $22.5 billion share buy-back from Home Depot. The Dow component shares jumped 6.2% in the pre-open.
- Ivaylo
- 20 Jun, 2007
- New York City
Asian markers ended on a mixed note with Japan finishing higher on advances in auto and electronics stocks and Hong Kong ending up, supported by strong gains in Chinese oil producers, while the Chinese benchmark index declined on weakness in steel producers. South Korea also dipped as brokerage stocks plunged. Australia hit a record high on strong financials.
- Elena
- 20 Jun, 2007
- New York City
Morgan Stanley announced that its Q2 net income rose 40% to $2.58 billion, or $2.45 a share, from $1.84 billion, or $1.75 a share a year ago. Company
- Ivaylo
- 20 Jun, 2001
- New York City
The market finished higher for a second straight session in firm trading. Volatility was seen only in the latter part of trading. Banks led the advance as Goldman Sachs boosted their recommendation for India''''s financial sector and successful secondary offering of shares by ICICI lifted the market. Gujarat Ambuja and the State Bank of India led the advancers, while Ranbaxy and TCS were the worst performing stocks.
- Ivaylo
- 20 Jun, 2007
- New York City
European markets advanced for the first time in three days as a declining in borrowing costs in the U.S. and Europe buoyed insurers and banks. Advancers in mining and autos also offset weakness from retailers H&M and DSG International. The German DAX index rose 0.9% after striking a seven-year high of 8,104.39 early in the session. The French CAC-40 index advanced 0.5% and the U.K. FTSE 100 index climbed 0.5%.
- Ivaylo
- 20 Jun, 2007
- New York City
Gold futures advanced for the fourth day in a row Tuesday, edging higher on weakening U.S. Treasury yields and a softer U.S. dollar. It was a mixed day overall for commodities, with grains retreating sharply as investors took profits from last week significant advance, and crude oil declining and then rebounding on labor unrest in Nigeria and Brazil.
- 123jump.com Staff
- 19 Jun, 2007
- New York City
In New York, averages rose in cautious trading on weak housing starts. May starts fell 2.1%, hurting builder stocks, dollar and copper in commodities trading. Home Depot agreed to sell its division to private equity group for $10.3 billion and said that it plans to spend $22.5 billion to purchase its stock. Expedia rose 14%, company announced to buyback 42% of its stock. Tesco in London fell 5% on slower growth. India gained 1.5% on $8 billion of IPO. Korea and Shanghai close at record level.
- Elena
- 19 Jun, 2007
- New York City
European stock markets finished in the red on Tuesday, led by weakness in retail and airlines stocks. British supermarket giant Tesco fell 4.9% after it reported weaker sales. U.K. rivals J Sainsbury and William Morrison also moved to the downside, while France''s Carrefour lost 1.5%. The U.K.''s FTSE 100 fell 0.8%, the French CAC-40 declined 0.3%, and the German DAX Xetra 30 edged down 8,033.52.
- Elena
- 19 Jun, 2007
- New York City
U.S. stocks turned in a lackluster performance, reflecting mixed housing data showing that May home construction fell roughly in line with estimates, while building permits rose more than expected. Quarterly earnings decline posted by electronics retailer Best Buy weighed on the sentiment, raising concerns about consumer spending. In other earnings news, Carnival added 1% after the world''s largest cruise group posted a 3% profit increase in Q2.
- Elena
- 19 Jun, 2007
- New York City
Expedia, online travel site operator, surged 16% after the company said it will repurchase up to 42% of its common stock for $3.5 billion. The company is considering repurchase of as many as 116.7 million shares for at least $27.50. In other corporate news, Home Depot agreed to sell its supply division to three private equity firms in a deal worth approxiamtely $10 billion.
- Elena
- 19 Jun, 2001
- New York City
Wall Street opened below the flat line after data showing a smaller-than-expected drop in home construction failed to offset disappointing earnings from Best Buy, as well as concerns about rising crude oil prices. In corporate news, Blackstone Group is expected to price its long-awaited IPO on Thursday. The private equity fund plans to sell investors a 12.3% equity stake in its management business for about $4 billion, with shares expected to price between $29 to $31.
- Ivaylo
- 19 Jun, 2007
- New York City
Tesco and Vodafone led the UK market lower in mid-day trading. Tesco, the biggest retaler in the UK, reported disappointing Q1 same-store results and Vodafone weighed as there were reports that American giant AT&T was not interested in bidding for the British company. Capita led gainers on broker comment, while the rise in oil prices boosted BP. The benchmark index, FTSE 100, lost 0.4% to 6696.9.
- Elena
- 19 Jun, 2007
- New York City
U.S. stock futures recovered from earlier weakness following a report that showed a slightly smaller-than-expected drop in the pace of May home construction. The Commerce Department said that housing starts fell by 2.1% to a seasonally adjusted annual pace of 1.47 million in May, as building permits for new construction rose 3%. However, disappointing quarterly results reported by Best Buy prevented stock futures from getting into the positive territory.
- Ivaylo
- 19 Jun, 2007
- New York City
Asian markets advanced Tuesday with industrial stocks gaining in South Korea and Japan, while China was boosted by property development shares. Leading gainers in Japan were Kawasaki Heavy, Oji Paper and Tokushi Tokai, and in South Korea Daelim Industrial and Daewoo Engineering & Construction. Stock markets in Hong Kong and Taiwan were closed for holidays.
- Elena
- 19 Jun, 2007
- New York City
The electronics retailer said its quarterly profit fell to $192 million, or 39 cents per share, from $234 million, or 47 cents per share a year ago. Revenue rose 14% to $7.93 billion, from $6.96 billion last year. Quarterly results came in below earnings estimates of 49 cents a share, but topped revenue expectations of $7.85 billion.