- Elena
- 20 Apr, 2007
- New York City
European stock markets rebounded to close sharply higher Friday. The positive sentiment was generated by merger speculation in the banking sector, a bidding war for pharmacy chain Alliance Boots, and stronger-than-expected profit for technology group SAP. Shares in Societe Generale surged 7.7% on speculations that the bank is in merger talks with Italy''s UniCredit. Shares of UniCredit rose 3.9%. The German DAX 30 climbed 1.4%, and the French CAC-40 gained 1.9%, and the U.K. FTSE 100 rose 0.7%.
- Elena
- 20 Apr, 2007
- New York City
U.S. markets continued to post gains, benefiting from stronger-than-expected earnings from Dow members like Caterpillar, Honeywell, American Express which boosted the index toward its first assault on the 13,000 mark. The Nasdaq and S&P''s 500 were both at six-year highs. In deal news, the largest U.S. shoes retailer Foot Locker made an unsolicited $1.2 billion bid for Genesco to gain footwear chains including Journeys and Johnston & Murphy.
- Elena
- 20 Apr, 2007
- New York City
Honeywell International rose over 3% on better-than-expected Q1 profit and lifted full-year forecast. Among other earnings-related movers, American Express rose 3% after posting stronger-than-expected quarterly earnings.
- Elena
- 20 Apr, 2007
- New York City
U.S. stock averages posted solid gains at opening Friday, with the Dow Jones hitting another record high, boosted by a sharp rebound in Asian markets, upbeat earnings at Caterpillar and Google, as wel as an H&R Block deal to sell its mortgage lending unit. Caterpillar rose 5% after the company said its Q1 net income fell below the year-earlier level, but exceeded estimates.
- Ivaylo
- 20 Apr, 2007
- New York City
FTSE has powered forward as the battle for Alliance Boots has turned into a full-scale auction for the chemist chain between KKR and Stefano Pessina and private equity group Terra Firma. Vodafone traded higher on speculation about the possible sale of its Verizon Wireless stake. Boots was the biggest advancer in the FTSE 100, which was up 45.8 points to 6,486.0.
- Ivaylo
- 20 Apr, 2007
- New York City
Asian markets rallied Friday, recovering from sharp drops in the previous session caused by worries that economic growth in China could lead to additional interest-rate hikes. Japanese markets gained on Toyota Motor and other exporters helped by a weaker yen and firm trading in overseas markets. All the major indices advanced.
- Elena
- 20 Apr, 2007
- New York City
U.S. stock market futures advanced on Friday, boosted by a rebound in global markets, as well as strong earnings reports from technology bellwethers Google, Advanced Micro Devices and industrial companies Honeywell and Caterpillar. Google gained 4% in the pre-open on 69% profit jump in Q1, while AMD rose 2% although it swung to Q1 loss of $1.11 a share. Dow members Caterpillar and Honeywell rose 5.8% and 2.9%, respectively on better-than-expected Q1 profit.
- Elena
- 20 Apr, 2007
- New York City
Pfizer said its net income fell to $3.39 billion, or 48 cents per share, down from $4.11 billion, or 56 cents per share, a year ago. However, excluding one-time items, the company reported adjusted profit of $4.8 billion, or 68 cents per share, up from $4.35 billion, or 59 cents per share, beating estimates of 57 cents. The drug maker also cut its adjusted earnings per share for 2007 by 10 cents.
- Ivaylo
- 20 Apr, 2007
- New York City
The benchmark index opened with a positive bias Friday and continued its rally throughout the day on intense buying in Reliance Industries, Bharti Airtel, ONGC and SBI. Satyam led the advancers on strong fourth-quarter results and higher guidance. The market sentiment was upbeat even as inflation figures showed an increase. The market-breadth was strong and there were only three declining stocks in the Sensex. Inflation was up to 6.09% in the first current fiscal week.
- Ivaylo
- 20 Apr, 2007
- New York City
European markets advanced on Friday morning as the miners rebounded from the yesterday
- Ivaylo
- 20 Apr, 2007
- New York City
Copper declined Thursday on worries that China is likely to try to slow down its booming economy and on weakness in the precious metals complex. Gold dipped on profit-taking, while platinum was originally boosted overnight by news that ETF Securities will launch five new physically backed exchange-traded commodities on the LSE Tuesday. Crude oil futures plunged to a one-week low Thursday as the return of a key pipeline that supplies the U.S. with Canadian crude pressured prices.
- 123jump.com Staff
- 19 Apr, 2007
- New York City
The flood of earnings continued after the market close. Google reported 63% rise in revenue and 69% increase in profit. Advanced Micro reports a loss on restructuring charges and price war for the low end of microprocessors. Bank America reported 5% rise in profit on 3% rise in revenue. American Express earnings rose 21%. Harley Davidson profit declined on lower revenue due to three week long strike.
- 123jump.com Staff
- 19 Apr, 2007
- New York City
A drop in Chinese stock prices rattled markets across Asia and undercut prices in Europe and the U.S. First-quarter profit news bolstered the stock market. Schering-Plough net income climbed 52%, shares leapt 8.6%. First-quarter net profit at Nokia declined by 6.6%, but the stock jumped 3.5%. Merck rose 1.2% on a 12% higher profit, while Altria declined 0.8%. Honeywell International gained 1.5% and Intel rose 2%.
- 123jump.com Staff
- 19 Apr, 2007
- New York City
Stocks were higher as investors juggled upbeat economic data, divergent earnings reports and a pullback in Chinese stocks. EBay Inc.''s first-quarter earnings surged 52%, though lower taxes and a decrease in outstanding shares gave a boost to results. Nokia first-quarter net profit declined by 6.6%, shares climbed 3.6%. Altria Group first-quarter profit fell 21% as the company saw weakness in domestic cigarette sales.
- Elena
- 19 Apr, 2007
- New York City
European stock markets closed lower on Thursday, as weakness among mining companies and worries that China will hike interest rates offset upbeat margin news from Nokia and hopes for pharmaceutical-sector earnings. Nokia rose 3.5% after the mobile phones maker posted market share gains and a better-than-expected gross margin. Drugmakers AstraZeneca and GlaxoSmithKline rose 1% after strong earnings from Merck. The German DAX 30 fell 0.5%, the French CAC 40 and the U.K.''s FTSE 100 lost 0.1%.