- Elena
- 03 May, 2007
- New York City
CBS added 0.6% after it said quarterly profit fell 5.9%, hurt by a tax charge selling radio stations and lower TV syndication income. At the same time, its adjusted earnings per share were slightly above analyst expectations. Martha Stewart Living Omnimedia posted a wider Q1 loss, weighed down by a charge associated with production of its syndicated TV program. Company''s stock dropped 1.7%.
- Elena
- 03 May, 2007
- New York City
Wall Street started trading moderately higher on Thursday, as stronger-than-expected Q1 productivity growth and a modest increase in labor costs helped generate some optimism about the outlook for interest rates. However, the upside move was limited by 3% decline for General Motors amid 90% profit drop. In corporate news, Russia''s Norilsk Nickel, the world''s largest nickel producer, offered to buy Canada''s LionOre Mining International for $4.8 billion.
- Ivaylo
- 03 May, 2007
- New York City
London equities reached a six-year high on Thursday morning, buoyed by strong results from Unilever, Royal Dutch Shell. Oil company Royal Dutch Shell soared after first quarter earnings rose 17%, while consumer goods large-cap Unilever posted strong gains as first quarter pre-tax profit surged compared with the previous year on improved operating margins. By mid-day, the FTSE 100 index was up 30.6 points to 6,515.2.
- Elena
- 03 May, 2007
- New York City
U.S. stock futures advanced Thursday after data showing a bigger-than-expected rise in labor productivity in Q1, and lower-than-anticipated unit labor costs. The Labor Deapartment said that productivity of the U.S. non-farm business sector rose 1.7%, much higher than the expected 0.8% increase. Unit labor costs at an annual rate of 0.6%, well-below expectations of a 2.1% gain.
- Ivaylo
- 03 May, 2007
- New York City
Asian markets closed on record-setting note Thursday, as technology and banking sectors were in focus after the release of positive U.S. economic data. Benchmark indices in Australia, Singapore, Malaysia, Indonesia and New Zealand rallied, while financial markets in Japan and China were closed for public holidays. China Mobile led the advance in Hong Kong, while BHP Billiton was the top performer in Australia.
- Elena
- 03 May, 2007
- New York City
The auto maker said its Q1 earnings were $62 million, or 11 cents a share, down from a profit of $602 million, or $1.06 a share a year ago. The company blames the disappointing results to its financial services unit''s exposure to the non-prime sector of the residential mortgage business. The company''s stock fell 1.6% to $31.90 in premarket trade.
- Ivaylo
- 03 May, 2007
- New York City
After a two-day break, the benchmark index opened with a positive bias Thursday and remained in positive territory throughout the session on strong global markets and robust earnings results from large-caps. Reliance Industries and Bajaj Auto led the advancers, while Tata Motors and HDFC Bank were the worst performing stocks. HDFC on Thursday reported 29% jump in fourth-quarter net profit for the current fiscal year.
- Ivaylo
- 03 May, 2007
- New York City
European markets were mostly lower mid-morning on Thursday as weakness in automakers and technology companies countered some well-received earnings from oil company Royal Dutch Shell and food group Unilever. Also, UBS, the world biggest asset manager, and German carmaker BMW posted earnings that missed analysts estimates. The German DAX Xetra 30 index lost 0.2% and the French CAC-40 index slipped 0.1%. However, the U.K. FTSE 100 index rose 0.4%.
- 123jump.com Staff
- 02 May, 2007
- New York City
U.S. market averages rose as steady drumbeat of earnings supported a rise. Master Card, CB Richard Ellis, Nortel, Jones Lang La Salle, Yum Brands, and others reported rising earings on gains in international sales. Dow Jones is likely to receive at least two bids from private equity groups, sources in the industry confirm. European markets advanced led by a rise in Norway and UK. Brazil reported April trade surplus of $4.2 billion. HSBC stock attracts Middle-Eastern investors.
- 123jump.com Staff
- 02 May, 2007
- New York City
A familar theme of earnings this quarter was playout again today. Falling dollar and rising international sales contributed to the fortunes of some of the largest companies in America. Nortel, Yum Brands, Master Card and CB RIchard Ellis earnings report confirmed this trend today. Investors lifted these stocks in the hope that these earnings trend will continue. Master Card jumped nearly 10%, CB Richard rose 14%, Yum Brands advacned 6% on the news.
- Elena
- 02 May, 2007
- New York City
European stock markets closed higher on Wednesday, boosted by strength among media stocks. Shares in satellite broadcaster British Sky Broadcasting rose more than 5%, while Dutch publisher Wolters Kluwer gained 2.8%. The U.K. FTSE 100 climbed 1% to 6,484.50, the German DAX Xetra 30 rose 0.6% to 7,455.93 and the French CAC-40 gained 0.5% to 5,990.13.
- Elena
- 02 May, 2007
- New York City
The three major stock averages rallied on Wednesday, driven by strength in the deal sector amid deal speculation, Q1 financial results released by Time Warner, and stronger-than-expected factory data. Time Warner rose 2.5% after the media posted higher-than-expected quarterly earnings. Chipotle Mexican Grill jumped 16% after the restaurant chain reported a profit rise above foreacsts.
- Elena
- 02 May, 2007
- New York City
Cablevision Systems Corp. jumped 8% after the cable TV provider said it struck a $10.3 billion deal to be taken private by its controlling shareholders, the Dolan family. In other deal news, Citigroup agreed to buy financial services outsourcing company Bisys Group for $1.45 billion in cash.
- Ivaylo
- 03 May, 2007
- New York City
On the Chicago Board of Trade corn futures continued their rally Wednesday, helped by forecasts of wetter weather late next week and into the following week. Gold declined, having been on correction mode since the June futures stalled just shy of the $700-an-ounce level on April 20 and 23. In energy stocks, crude oil fell, as did heating oil and gasoline, while natural gas bucked the trend and climbed.
- Elena
- 02 May, 2007
- New York City
U.S. stocks opened higher on Wednesday, lifted by deal news in the media sector and better-than-expected corporate profits. Master Card surged 10% after reporting 70% earnings rise to $1.57 per share from 94 cents per share a year ago, beating estimates of $1.15 a share. Revenue climbed 24% on favorable currency exchanges and stronger use of its brand overseas.