- Elena
- 31 Jan, 2007
- New York City
European stocks finished lower on Wednesday, reflecting cautiousness ahead of a U.S. interest rate decision, weakness in the technology sector and losses for car makers after a jump in oil prices. Chipmaker Infineon Technologies shed 1.8%, STMicroelectronics dipped 0.8%. Shares in Peugeot fell 2.4% and DaimlerChrysler AG slipped 1.7%. The U.K. FTSE 100 fell 0.6%, the French CAC 40 declined 0.7%, while the German DAX 30 ended flat at 6,789.11.
- Elena
- 31 Jan, 2007
- New York City
Altria will distribute the 89% of the company it owns to its shareholders on March 30. Each Altria shareholder will get 0.7% of a share of Kraft for each share of Altria they own as of March 16, and they will receive cash in lieu of fractional shares for amounts of less than one Kraft share with an exact distribution ratio to be determined later. Kraft Foods slipped 1.7%.
- Elena
- 31 Jan, 2007
- New York City
The three major market averages were mixed in early trading hours, awaiting the Fed Reserve
- Elena
- 31 Jan, 2007
- New York City
U.S. stocks opened mixed on Wednesday, with blue-chip stocks led higher by Boeing Co. The aerospace giant rose 4.5% after it said Q4 profit doubled on 26% revenue increase and boosted its outlook. SanDisk weighed on the Nasdaq with a decline of 9%, as it swung to a Q4 loss from a year ago, hurt by acquisition-related charges. The company reported a net loss of 17 cents a share, compared with net income of 68 cents last year. It said sales surged 55%, but released a soft sales forecast.
- Ivaylo
- 31 Jan, 2001
- New York City
The market in UK declined on Wednesday in spite of the takeover battle for Corus which ended on a positive note for the shareholders in the Anglo-Dutch steelmaker. However weakness in financial stocks dragged the benchmark index lower as F&C Asset Management gave a warning that it would reconsider its dividend on a sharp decline in assets. The FTSE 100 was trading lower 23.3 points at 6,218.7 by mid-day on Wednesday.
- Elena
- 31 Jan, 2007
- New York City
U.S. stock futures moved to the downside, but data showing faster-than-expected drowth of U.S. economy in Q4 helped to limit losses. The Department of Commerce said that GDP grew at an annual rate of 3.5% in Q4 compared to the 2% rate of growth that was seen in Q3, faster than the 3% growth, anticipated by economists. Investors were also awaiting the Fed''s decision on interest rates and the statement on the interest rate outlook. Economists expect rates to stay at 5.25%.
- Ivaylo
- 31 Jan, 2001
- New York City
The market started on a positive note Wednesday, supported by S&P decision to upgrade India sovereign rating to investment but then dived ahead of RBI review of its credit policy. Despite winning the bid for Corus, Tata Steel pulled the market lower in afternoon trade as investors considered it has overvalued Corus in its offer. Tata led the decliners, while Gujarat Ambuja led the gainers. The Reserve Bank of India hiked its short-term lending rate in an effort to curb inflation.
- Elena
- 31 Jan, 2007
- New York City
The media giant earned $1.75 billion, or 44 cents a share, up from $1.3 billion, or 28 cents, earned in the same period a year ago. Quarterly revenue rose to $12.47 billion from $11.52 billion last year, reflecting gains in its cable-television and networks divisions. Time Warner
- Ivaylo
- 31 Jan, 2007
- New York City
Asian markets finished lower on Wednesday dragged lower by Chinese benchmark index, which declined 4.9. Pprofit-taking pushed markets lower across the region. In Japan, investors were worried about the prospects for a sustainable turnaround in the earnings of Sony. Shares closed lower in South Korea, pulled down by Korea Electric Power and Hynix, while profit-taking in China Mobile led HK lower. Profit-booking was also the reason of the decline in Australian market.
- Ivaylo
- 31 Jan, 2007
- New York City
Tata Steel won the battle for Corus and that news buoyed the metal sector, but European markets remained flat on Wednesday as Commerzbank sank and weighed on the stocks. Banco diPopolare di Verona e Novara advanced on upgrade. Novo Nodisk, the Danish pharmaceutical company, bucked the downward trend in pharma stocks and advanced. By mid morning, the FTSE 100 in London lost 0.1%, Frankfurt Xetra Dax shed 0.3% to and the CAC 40 in Paris slid 0.4%.
- Ivaylo
- 31 Jan, 2007
- New York City
Gold edged higher on Tuesday, trading within a narrow range as investors remained on the sidelines as the Federal Reserve met to discuss interest rates. The FOMC is widely expected to hold the fed funds rate steady at 5.25%, as it has at each of its past four meetings since August. February gold rose as high as $646, but failed to hold that level as many traders held back ahead of the Fed decision. Copper prices advanced after gaining support from a decrease in copper stockpiles.
- 123jump.com Staff
- 30 Jan, 2007
- New York City
Uneven trading only reflcted cross currents of information in the market today. 3M earnings disappointed market and stock fell 5%. Motorola jumped 7% on the news that Carl Ichan is seeking to join the company board. Crude oil jumped 5% and natural gas rose 11% on harsher winter conditions in the Northern U.S.European markets closed higher led by Germany.
- Elena
- 30 Jan, 2007
- New York City
European stocks closed higher, led by airline stocks. Moves were limited as European investors awaited the Fed Reserve''sa interest-rate decision. Airline companies attracted the most attention, with Alitalia rising 3.8% after the Italian government said it received 11 bid offers. Air France-KLM shares gained 6.7%, as the company didn
- Elena
- 30 Jan, 2007
- New York City
U.S. stocks turned modestly higher, with investors cautious before the Fed Reserve''s decision on interest rates. The Dow reversed from earlier weakness, although 3M fell 4.4%, Procter & Gamble fell 1.1%, and Merck lost 1% on quarterly results. Photography and imaging company Getty Images was a notable gainer, rising 8%, despite 29% profit drop in Q4 on restructuring and other costs. The company earned 50 cents per share, down from 64 cents last year. Excluding items, profit beat estimates.
- Elena
- 30 Jan, 2007
- New York City
Wall Street saw a mixed performance at opening on Tuesday, with the Dow pressured by 6% decline for 3M Co. on a disappointing profit outlook. Merck also weighed on the blue-chip average, falling even after its earnings, excluding special items, matched forecasts. Similarly Procter & Gamble fell 1.4%, despite raising its earnings outlook. Investors weighed its organic sales growth, which came in at the lower end of its guidance.