- Elena
- 10 Jan, 2007
- New York City
The improved bid followed a rejection of the first bid valued at $8.4 billion. It amounts to $5 billion in cash and 89.5 million shares of US Airways stock, higher than the original offer including 78.5 million shares of US Airways stock and $4 billion in cash.
- 123jump.com Staff
- 09 Jan, 2007
- New York City
News of job cuts at Sprint Nextel and earnings revision from other companies kept market averages under check. Oil dropped to an eight months low failed to excite traders. Apple released new mobile phone with features of iPod. Venezuela plans to nationalize largest TV network and electric utility. The news dragged the local market index down 19%. Asian markets rebounded after a two-day drop.
- Elena
- 09 Jan, 2007
- New York City
European stocks closed mixed, reflecting losses for major oil companies and some positive broker upgrades across several sectors. Heavyweight BP declined 3.1%, Total''s shares sank 1.3%, Statoil declined 3.1% and Norsk Hydro lost 1.2%. French CAC 40 rose 0.3%, the German DAX added 0.1%, while London FTSE 100 inched up 0.03%.
- Elena
- 09 Jan, 2007
- New York City
U.S. market averages turned mixed in late morning trade, reflecting a steep decline in crude oil prices and optimism about the technology sector. Tech stocks were among the biggest drivers in the session with news coming from the annual Macworld Expo in San Francisco and Consumer Electronics Show in Las Vegas. Apple Computer rose 1.9% on expectations the company will announce its first mobile phones.
- Elena
- 09 Jan, 2007
- New York City
The new issue, Cairn India, priced below its expected price range and fell further on the first day in trading. IT stocks came under pressure ahead of the start of third quarter earnings season. Investors are worried that rupee appreciation may affect profits. Gujarat Ambuja led the advancers with TCS and ICICI Bank, while Satyam and Reliance Communications led the decliners. The government may cut petrol and diesel retail prices if the decline of oil prices continues.
- Elena
- 09 Jan, 2007
- New York City
U.S. stocks opened slightly higher Tuesday as a continuous slide in crude oil prices and gains for the tech sector helped offset the negative sentiment generated by Sprint Nextel Corp.''s warning that its Q4 results will miss expectations. A barrel of light sweet crude fell to $54 a barrel. Shares of both Apple and AT&T rose 1% in early trading.
- Ivaylo
- 09 Jan, 2007
- New York City
Banks advanced following Credit Suisse positive comment on the sector, as the Swiss bank believes the threat from regulation, interest rates and even unsecured asset quality has diminished. A rebound in metal prices supported mining stocks as copper advanced 1% after a three-day decline. Upbeat broker comment gave also satellite TV group BSkyB a boost. BP plunged as it reported production of oil and gas fell in Q4 of 2006. By late morning, the FTSE 100 was up 0.4%.
- Elena
- 09 Jan, 2007
- New York City
U.S. stock market futures advanced, indicating a higher opening of Tuesday trading session ahead of the new earnings season and new product announcements from the two biggest technology shows of the year. Apple Computer rose 1.2% in pre-market trading as the computer maker is expected to showcase new products at its annual Macworld expo. Motorola said it is developing set-top boxes that can send home television to phones.
- Elena
- 09 Jan, 2007
- New York City
In a financial update released after the close on Monday, Sprint Nextel said that its cell phone business suffered a net loss of 300,000 monthly subscribers in Q4 and that the company will reduce workforce by 5,000 jobs to just below 60,000 positions. Most of the job cuts are expected in Q1 of the new fiscal year.
- Ivaylo
- 09 Jan, 2007
- New York City
Most Asian markets ended higher Tuesday, led by China which hit a record closing high in the wake of stronger-than-anticipated debut of China Life on the Shanghai Stock Exchange. Japanese stocks advanced on bargain-hunting on domestic demand-sensitive issues such as banks and insurance companies, while in HK, sustained profit-taking in Chinese financial companies pushed the market below the psychologically important 20,000 level. South Korea and Australia also closed higher.
- Ivaylo
- 09 Jan, 2007
- New York City
Saint Gobain led the advancers in Europe, as the stock is in demand for a second session in a row as brokers are becoming aware of the potential value that restructuring could deliver for the French building materials group. Gains from travel stocks and mining companies also helped, although declines from oil giant BP kept sentiment in check. The U.K. FTSE 100 index rose or 0.3%, while the German Xetra Dax gained 0.7%, and the French CAC 40 added 0.7%.
- Ivaylo
- 09 Jan, 2007
- New York City
March copper had slipped to a nine-month low on Monday. It traded higher during the session on Monday, but then dropped again. Copper sold off in connection with the retreat in the crude oil market. Gold prices advanced modestly, with some dealers saying that physical demand appeared in the spot market during quiet trading conditions after the sell-off on Friday.
- 123jump.com Staff
- 08 Jan, 2007
- New York City
Consumer borrowing rose at three-month high rate ahead of holiday season spending. Consumer debt as a percentage of total in income in Novmber held steady at 21.5% and is down from 22.5% in October. Healthy job market has supported a steady rise in retail sales. Tech and financial sectors advanced. NCR plans to spin-off is data warehousing unit, Teradata. Asian markets closed lower. Latin American markets rebounded on rise in precious metals prices.
- Elena
- 08 Jan, 2007
- New York City
European stocks closed mixed on Monday as a reversal in the shares of oil giants and weakness for drug companies offset strength generated by resource stocks, technology and telecommunications companies. London FTSE 100 slipped 0.4%, with BP falling 0.8% as volatile oil prices dropped back to $55.10 after reaching as high as $56.36. German DAX 30 ended up 0.2%, supported by the technology sector, with shares in software provider SAP rising 3.4%. The French CAC 40 ended flat at 5,519.59.
- Elena
- 08 Jan, 2007
- New York City
Stock averages traded down in late morning on cautiousness ahead of Q4 earnings and volatile oil. A brokerage downgrade of Wal-Mart S and profit warnings also pressured stocks, offsetting the positive influence of merger-and-acquisition news. Wal-Mart was downgraded by Goldman Sachs, with the broker cutting its price target to $51 from $53. Shares of the retailer lost 0.6%. Molex fell 3.9%, while Schnitzer dropped 6.4% as the manufacturers warned quarterly profits might be disappointing.