- Elena
- 20 Oct, 2006
- New York City
European stock markets closed mostly higher, with retreating oil prices helping to erase some of the earlier gains. The oil-sensitive London FTSE 100 ended down 0.01% at 6,155.20. Across the region, the German DAX 30 closed up 0.41% at 6,202.82. In Paris, the CAC 40 gained 0.29% at 5,375.35.
- Elena
- 20 Oct, 2006
- New York City
SanDisk tumbled 20% amid concerns about pricing pressure and oversupply for the company''s flash memory storage technology used in consumer electronic gadgets. Company''s stock was downgraded at Citigroup and Oppenheimer to hold from buy. On Thursday, SanDisk reported Q3 profit drop of 4% to 51 cents a share, despite 27% revenue growth.
- Elena
- 20 Oct, 2006
- New York City
In after-the-close release, Reliance Industries posted yesterday better-than-anticipated results. In trading today, though, the Sensex finished lower in a highly volatile session due to a last-minute selling pressure which broke the otherwise solid trend in earlier hours. Reliance led the advancers, Bharti Airtel and Tata Steel followed suit. Satyam led the decline, together with Bajaj Auto. Corus, the Anglo-Dutch accepted the proposed bid by Tata Steel. Wholesale Price Index remains unchanged.
- Elena
- 20 Oct, 2006
- New York City
Stocks traded in a lackluster fashion at opening, with the Dow erasing gains on disappointing Caterpillar results a day after breaking through 12,000 for the second day in a row. The Dow component dropped 10.6% after warning that costs, a slowing housing market and lower sales would negatively affect its earnings by the end of 2006 and 2007. However, the decline was limited by 2% gain for 3M and 1.3% for Merck after they reported better-than-expected Q3 earnings.
- Ivaylo
- 20 Oct, 2006
- New York City
Heavy truck maker Caterpillar failed to mpost results in line with expectations and led U.S. futures lower. The London benchmark index also followed suit. Corus, which has agreed to a deal from Indian Tata Steel, also declined. Next and media company SMG sank as well. Wolfson Microelectronics plummeted after the company said full-year revenues would fall below expectations. Hanson advanced despite profit warnings from Martin Marietta and ITV rose too. The FTSE 100 declined 1.4 points, or 0.02%.
- Elena
- 20 Oct, 2006
- New York City
U.S. stock futures moved to the downside, hurt by disappointing earnings and guidance from blue chip equipment maker Caterpillar. Rebounding crude oil prices also weighed. Caterpillar slipped 8% in preopen trading on disappointing Q3 earnings of $1.14 a share, up from 94 cents a year ago, but missing expectations of $1.35. In contrast, Google Inc. climbed 7.5% after the Internet search giant reported a 92% profit jump.
- Elena
- 20 Oct, 2006
- New York City
Under the terms of agreement Corus stockholders will receive 455 pence in cash for each of their shares. The offer is at a 26.2% premium to the 12-month average closing price for Corus shares, but it came in below their market price. Corus shares fell 1.6% in London. Tata Steel rose 1.4% in Bombay.
- Ivaylo
- 20 Oct, 2006
- New York City
Japan and Australia led Asian stocks higher on Friday, as investors were upbeat, tracking a record-high close for the U.S. market while recovering oil prices after newly-announced production cuts by OPEC nations gave a boost to Inpex Holdings Inc., PetroChina and other energy companies. South Korea ended higher with diplomatic efforts still continuing to defuse the North Korean nuclear crisis.
- Ivaylo
- 20 Oct, 2001
- New York City
European markets hit new five-year highs in early trading on Friday morning, as companies gained strength from overnight upbeat close on U.S. markets and as oil producers advanced after the OPEC oil cartel agreed on a deeper-than-anticipated production reduction. OPEC agreed on a cut of 1.2 million barrels a day, topping the forecast 1 million barrels. The U.K. FTSE 100 gained 0.44%, the German DAX 30 rose 0.4%, the French CAC 40 advanced 0.5%.
- Ivaylo
- 20 Oct, 2006
- New York City
Traders commented that a buy signal appeared at the $599.10 an ounce level while at the same time, crude oil rose after comments from the oil minister of Saudi Arabia hinting that OPEC could make further reductions to stop the recent decline in the oil market. The Saudi comments boosted oil prices which in turn pushed gold higher. All the other precious metals rallied as well.
- 123jump.com Staff
- 19 Oct, 2006
- New York City
Citigroup, Bank of America and Bank of NY reported mixed earnings growth, owever shares of all three stocks fell. Citigroup operating earnings rose 6% on a slight decline in revenue in the third quarter. Bank of America reported earnings of $1.18 vs. 95 cents a year ago on revenue rise of 32%. Bank of NY reported earnings of 46 cents vs 51 cents a year ago. After the close Google reported earnings of $2.36 vs $1.32 a year ago.
- Elena
- 19 Oct, 2006
- New York City
European stock markets finished near the unchanged mark Thursday, as weakness sparked by earnings and sales figures from Nokia, SAP and Nestle was offset by gains from Ericsson and strength among mining stocks. The German DAX 30 closed down 0.1%. The French CAC 40 ended flat at 5,359.74. London FTSE 100 added 0.1% at 6,156.00, helped by resource stocks.
- Elena
- 19 Oct, 2006
- New York City
U.S. stocks reversed from earlier weakness, lifted by better-than-expected earnings of blue chips Coca-Cola Co. and Pfizer Inc., which helped offset concerns about weak results of some tech companies. The Dow broke through the historical height of 12,000 for a second straight day. Coca Cola gained 1.6% on better-than-forecast earnings and revenue. Pfizer gained about 0.9% after reporting 112% earnings jump.
- Elena
- 19 Oct, 2006
- New York City
The Sensex finished lower for a third straight day in a highly volatile trading on Thursday. Profit-booking emerged on the market, as a consequence of weak results from some large-caps. Bajaj Auto led the decline as its earnings results failed to meet market expectations. Reliance Communication, Ranbaxy and ITC were the other main decliners. Grasim led the advancers as its results exceeded expectations. Indian economy will continue to grow at 8% annually.
- Elena
- 19 Oct, 2006
- New York City
Stocks opened weaker Thursday as investors were cautious amid mixed results from tech stocks like Apple Computer Inc. and Advanced Micro Devices Inc. Advanced Micro Devices plunged 11.6% after its results raised worries about falling profit margins. Mobile telephone maker Nokia Corp. dropped 3.12% on disappointing Q3 profit. At the same time, Apple jumped 6.6% on strong Q4 earnings, driven by iPod sales rise.