- Elena
- 19 Apr, 2007
- New York City
U.S. stocks regained some ground after the initial drop but remained in the negative territory. In earnings news, D.R. Horton posted Q2 profit drop of 85% to 16 cents a share from $1.11 a share a year earlier, missing estimates of 27 cents. Home-building revenue dropped to $2.62 billion from $3.53 billion in the year-ago period. Shares of the home builder added 1%.
- Elena
- 19 Apr, 2007
- New York City
UnitedHealth posted better-than-expected Q1 earnings on an adjusted basis, and raised its full-year earnings estimate, but revenue fell shy of forecasts sending company''s shares down 4%. Altria fell 1.7% after the company posted Q1 profit drop, but beat analyst expectations on an adjusted level. Altria also raised its profit forecast from continuing operations for the year to a range of $4.20 to $4.25 a share.
- Elena
- 19 Apr, 2007
- New York City
Wall Street opened in the red, reflecting steep declines in Asian and European markets. Shanghai Composite tumbled 4.5% amid higher-than-expected economic growth and inflation. A flood of earnings reports also attracted attention. Schering-Plough reported a 52% rise in Q1 profit to $565 million, or 36 cents a share, topping estimates. Merck & Co. said its Q1 profit jumped 12% to 78 cents per share on strong sales.
- Ivaylo
- 19 Apr, 2007
- New York City
The FTSE 100 declined sharply for a second session in a row on Thursday tracking losses in Asian markets overnight. Chinese economy growth had increased by 11% in the first quarter sparking fears that the country would boost interest rates further, triggering a sell-off not only in Shanghai but also in Japan and Hong Kong. The news pullled the FTSE 100 42.7 points, or 0.7% , lower to 6,406.0.
- Ivaylo
- 19 Apr, 2007
- New York City
Shanghai Composite Index led Asian stocks sharply lower Thursday. The Chinese benchmark index plunged on renewed worries that rapid growth may lead to higher interest rates. A softer dollar also weighed on Asian exporters including Canon Inc. and Samsung Electronics Co., while lower metals prices contributed to slides in miners. All major market indices finished lower.
- Elena
- 19 Apr, 2007
- New York City
U.S. stock futures dropped Thursday, weighed down by Asian and European declines, amid concern that China will raise interest rates, prompted by data showing higher-than-expected economic growth and inflation. Another batch of earnings data was also in focus. Bank of America said Q1 net income climbed to $1.16 a share from $1.07 a share. Adjusted earnings were $1.17 a share, two cents ahead of estimates.
- Ivaylo
- 19 Apr, 2007
- New York City
The benchmark index opened with a strong negative bias Thursday, tracking weak Asian markets, and then plunged into negative territory in morning deals. Intense buying in banking stocks and select large-caps helped the Sensex recover lost ground in late trading. SBI and ICICI Bank led the advancers, while ACC and Satyam were the worst performing stocks. India
- Elena
- 19 Apr, 2007
- New York City
Merrill Lynch said it earned $2.16 billion, or $2.26 a share, compared with $475 million, or 44 cents a share a year ago, topping estimates of $1.97 a share. Kraft Foods Inc. posted a 30% profit decline in Q1, its last under the control of Altria Group Inc. Net income for Q1 was $702 million, or 43 cents per share, down from $1 billion, or 61 cents per share a year ago. Excluding certain items, the company
- Ivaylo
- 19 Apr, 2007
- New York City
European markets declined significantly on Thursday, as global interest rates were the main focus of worries after strong Chinese growth prompted slowing demand if the country decides to cool its economy. Oil and mining stocks slumped the most after Chinese premier Wen Jaibao announced the country was in need of taking timely measures to prevent economic overheating. By mid morning, Frankfurt Xetra Dax shed 1.3%, the CAC 40 in Paris lost 1.1% and London FTSE 100 slid 0.8%.
- Ivaylo
- 19 Apr, 2007
- New York City
Platinum futures surged Wednesday, fueled by fund buying, expectation of an exchange-traded fund, and a weaker U.S. dollar. Much of the increase was connected to buying ahead of the launch of an exchange-traded fund set for May 10 by Zurich Cantonal Bank. Other precious metals also rose, such as gold and palladium, while silver dipped. In base metals trading, copper fell, while in energy trading crude oil futures ended little changed.
- 123jump.com Staff
- 18 Apr, 2007
- New York City
EBay reported 52% rise in earnings on 27% gains in revenue. The stock jumped 6% in the after hours of trading. Kraft Food reported 6% rise in revenue but diluted earnings fell 30%. Money Gram earnings dropped on higher operating cost. Spansion loss widened. ETrade Financial lowered earnings guidance for the year. Novellus revenue declined.
- 123jump.com Staff
- 18 Apr, 2007
- New York City
Financial stocks lifted averages in New York trading, barely. Shares of J.P. Morgan rose 4%, Citigroup and Bank America rose 1%. Yahoo reported an 11% drop in first-quarter profit, while IBM posted an 8% increase. After the reports Yahoo plunged 12% and IBM lost 2.5%. Motorola swung to a profit and advanced 2.2%. EBay reported 52% rise in profit after the close.
- 123jump.com Staff
- 18 Apr, 2007
- New York City
U.S. stocks fell on mixed earnings reports. Investors pulled back from tech stocks after Yahoo posted an 11% drop in its first-quarter profit. Seagate fell 5.9%, IBM fell 2.5%, and Motorola reported a first-quarter loss due to sluggish sales but company
- Elena
- 18 Apr, 2007
- New York City
European stock markets closed in the negative on Wednesday, dragged down by weaker mining and automotive stocks which offset gains from chip-equipment maker ASML and Swiss drug maker Roche. Miners BHP Billiton and Rio Tinto fell 2.6% and 1%, respectively on lower copper prices and weaker dollar. The record-low dollar also hurt exporter stocks. BMW slipped 1.3%, while Porsche also lost ground. The German DAX 30 fell 0.90%, the French CAC 40 lost 0.38%, and the U.K. FTSE 100 lost 0.7%.
- Elena
- 18 Apr, 2007
- New York City
U.S. market averages turned mixed in late morning trading, reflecting upbeat earnings at JP Morgan Chase & Co. and Intel Corp. and concerns about the technology sector, raised by lower-than-expected earnings at Yahoo and a downgrade of IBM. J.P.Morgan and Intel led the Dow higher, posting an advance of 4.1% and 1.7%, respectively. IBM was the biggest drag on the Dow, falling 2.5%. The tech-heavy Nasdaq was weighed down by 12% drop for Yahoo.