- 123jump.com Staff
- 09 Jan, 2008
- New York City
U.S. stocks rebounded in the afternoon rally after Warren Buffett of Berkshire Hathaway said that he may invest in bond insurers. The comments lifted bond insurers from the lows of the day. On the back of the commnets financial services and brokerage firms rallied. Merrill Lynch, Morgan Stanley, and Goldman Sachs advanced. Dupont jumped 5% after lifting earnings estimate for 2007 and raised guidance for 2008.
- 123jump.com Staff
- 09 Jan, 2008
- New York City
MBIA, the bond insurer, suffered one of the worst losses today after it revealed a plan to raise $1 billion and cut quarterly dividend to 13 cents from 34 cents. MBIA has suffered heavy losses related to asset based lending and sub-prime lending. The company hopes that this recapitalization move will save its AAA rating. In total $652 billion of bonds could suffer in value if MBIA loses its AAA rating.
- Elena
- 17 Apr, 2007
- New York City
U.S. stocks turned flat after opening lower on Tuesday. Market sentiment was helped by a rise in home construction and a mild reading on consumer inflation, but a falling dollar and industrial output limited buying interes. The Federal Reserve said that industrial output dropped 0.2% in March as utility production fell 0.7%, offsetting a rise in factory production. Investors were also cautious ahead of a new batch of earnings reports.
- Ivaylo
- 17 Apr, 2007
- New York City
Profit-taking pulled UK stocks down on Tuesday as a sharp increase in inflation raised the prospect of a May interest rate rise. Inflation had jumped undermining the government target of 2%. It also sent the value of sterling above $2 for the first time since the UK was forced to exit the European Exchange Rate Mechanism. The FTSE 100, which hit a six-and-a-half year high in the previous session, eased 45.7 points to 6,470.5 in a broad-based decline.
- Elena
- 17 Apr, 2007
- New York City
U.S. stock futures rebounded on Tuesday, lifted by tame consumer inflation data, a higher-than-expected rise in housing starts and strong earnings repots from blue chip companies Coca-Cola and Johnson & Johnson. The closely watched CPI rose 0.6% in March, driven by big increases in the cost of gasoline and other energy products. Energy prices surged by 5.9%. Core inflation, which excludes volatile energy and food, posted 0.1%, the smallest increase in three months.
- Ivaylo
- 17 Apr, 2007
- New York City
Asian markets ended mostly lower Tuesday, losing momentum which boosted several markets to records with Japanese stocks declining as investors took profits on recent advancers. The surge yesterday was maybe too sudden and investors are taking advantage of the high prices to cash out. All major markets fell, except for Hong Kong which bucked the downtrend and advanced.
- Elena
- 17 Apr, 2007
- New York City
The company said it earned $1.26 billion, or 54 cents a share, compared to a profit of $1.11 billion, or 47 cents a share a year ago, beating analyst estimates of 53 cents a share. Excluding one-time items, Coca-Cola said it earned $1.29 billion, or 56 cents in the first quarter. Revenue rose 17% to $6.10 billion, compared to $5.23 billion in the same quarter a year ago. In pre-market trading, Coca-Cola shares rose nearly 1%.
- Ivaylo
- 17 Apr, 2007
- New York City
The benchmark index opened with a positive bias but slipped into negative territories on a sharp slide in tech stocks on fears of rising rupee agaianst the dollar. Satyam led the decliners, extending its losses from yesterday. Bajaj Auto was the best performing stock as well as cement stocks with ACC and Gujarat Ambuja in the lead. Goldman Sachs announced it was planning to invest $1 billion in India as part of an expansion strategy.
- Ivaylo
- 17 Apr, 2007
- New York City
European markets declined on Tuesday as strong economic growth in the eurozone and UK buoyed concerns over inflation and hiking interest rates. In Germany, the ZEW index of business sentiment surged in April prompting faster economic growth over the next six months and in the UK consumer price inflation increased to 3.1% in March. By midday, Frankfurt Xetra Dax shed 0.5%, the CAC 40 in Paris lost 0.6% and London FTSE 100 slid 0.7%.
- Ivaylo
- 17 Apr, 2007
- New York City
Gold futures ended higher on Monday, boosted by a softer dollar. There was a lot of physical buying underneath the market. Overall the sentiment remained very bullish and the uptrend was certainly intact. Platinum and palladium, though, were supported by news that exchange-traded funds will be launched for the white metals next month in Switzerland, despite the fact that palladium closed lower for the day on profit-taking.
- 123jump.com Staff
- 16 Apr, 2007
- New York City
U.S. stocks gained with a lower crude-oil price and good earnings news from financials helping. Commerce Department said March retail sales increased 0.7%, more than expected. Sallie Mae agreed to be sold in a $25 billion deal. Also, Google added 1.8% as it agreed to acquire digital marketing company DoubleClick for $3.1 billion in cash. Citigroup reported a 15% rise in revenue and an 11% drop in first-quarter profit.
- 123jump.com Staff
- 16 Apr, 2007
- New York City
U.S. stocks rallied helped by Citigroup strong financial results and a $25 billion buyout deal of student loan company Sallie Mae. Google gained 2% on the purchase of DoubleClick, an online advertising network and lifter Aquantive 8%. Amazon advanced 6% on broker upgrade and Parlux Fragrances fell 10% on higher than expected operating costs.
- Elena
- 16 Apr, 2007
- New York City
European stock markets hit new multi-year highs on Monday, benefiting from strength in the banking sector, generated by deal talk involving Dutch bank ABN Amro. The Dutch bank giant surged 5.7% after it said it will exceed its 2007 earnings target. The company also stated that it received a letter of interest from Royal Bank of Scotland, Banco Santander Central Hispano and Fortis.The German DAX 30 climbed 1.8%, the French CAC-40, advanced 1.3%, and the U.K.''s FTSE 100 rose 0.8%.
- Elena
- 16 Apr, 2007
- New York City
U.S. market averages moved sharply higher on Monday morning, building on last-week gains. The sentiment was driven by Citigroup, which rose 2.8% on higher-than-expected earnings and a $25 billion buyout deal for Sallie Mae, sending its shares up 18%. Slightly stronger-than-expected rise in March retail sales helped push the Standard & Poor''s 500 index to 6-1/2-year highs.
- Elena
- 16 Apr, 2007
- New York City
Eli Lilly & Co. said its Q1 profit fell 39%, but the company''s adjusted profit came in above expectations. The drug maker also reported a rise in revenue, and lifted its full-year sales and earnings guidance. The stock gained 2%. Shares of ABN Amro climbed 6% amid higher Q1 earnings and news that European peers Royal Bank of Scotland, Banco Santander Central Hispano and Fortis are interested in making a joint bid for the Dutch bank.