- Elena
- 26 Sep, 2006
- New York City
U.S. stocks started trading mixed, awaiting data expected to show an improvement in consumer sentiment, but a profit warning from home builder Lennar Corp. built on worries about a slowing housing market. The tech-heavy Nasdaq declined, with Apple, Dell, and Cisco Systems contributing to the weakness. PMC-Sierra dropped 8% after the chip maker warned its sales would fall short of its expectations.
- Ivaylo
- 26 Sep, 2001
- New York City
Hanson was the leading advancer in London on Tuesday as takeover rumours hit new heights. Bid speculation has continued to surround the group, with Cemex, the Mexican cement giant that owns RMC, seen as a leading suitor. The other bid story today concerned Amvescap, as talk of a takeover sent its higher. By mid-day, the FTSE 100 advanced 43 points, or 0.75, to 5,841.3.
- Elena
- 26 Sep, 2006
- New York City
Stock futures moved higher Tuesday, with investors optimistic about the consumer confidence growth, helped by a decline in energy prices. Home builder Lennar reported a 39% profit drop in the most recent quarter, and warned its Q4 earnings would range between $1 and $1.30 a share, well below expectations of $1.60.
- Ivaylo
- 26 Sep, 2006
- New York City
Export-related stocks and techs shares pushed Asian markets down on Tuesday. The rebounding oil prices fueled worries that a slowdown in the U.S. would weigh on corporate profits. The Nikkei 225 Average dipped, ignoring a change in political leadership after incoming Prime Minister Shinzo Abe revealed the first details of his new Cabinet. Singapore and Australia bucked the downtrend and advanced.
- Ivaylo
- 26 Sep, 2001
- New York City
European stocks advanced Tuesday on positive sentiment coming from U.S. markets, while shares of Europe leading utilities moved higher after Acciona interfered into the bid war for Endesa. By mid morning, European markets had extended their gains following Ifo business confidence data in Germany that came in line with expectations. London FTSE 100 gained 0.7%, while Frankfurt Xetra Dax added 0.6% and the CAC 40 in Paris climbed 1%.
- Ivaylo
- 26 Sep, 2006
- New York City
The energy sector has taken a lot of the inflation fears out of the market as oil was below $60 earlier in the session and took the metals down with it. However, after trading to a 10-month low overnight, November crude oil had surged back to $62 as gold was closing. Some of the strength in the copper, gold and silver is all related to the turnaround in the oil markets.
- 123jump.com Staff
- 25 Sep, 2006
- New York City
Market averages rebounded in the afternoon trading to the high for the day. Tech stocks led the charge with Apple and semi-conductor stocks gaining up more than 3%. Existing home sales fell 0.5% to an annual rate of 6.3 million and median home price fell to $225,000 in August. The fisrt median home price decline in ten years. Class action status was awarded to a light cigarette case by a U.S. federal court judge. Indexes rose despite 4% decline in Altria, parent of Philip Morris USA.
- Elena
- 25 Sep, 2006
- New York City
European markets closed mixed Monday, reflecting sharply lower crude oil futures. Continuing consolidation in the pharmaceutical sector provided some help. The German DAX 30 gained 0.3%, boosted by automakers like BMW and Volkswagen which rose 1% on weak oil prices. The French CAC 40 added 0.1%, while London FTSE 100 slipped 0.4%, dragged by weak commodities futures.
- Elena
- 25 Sep, 2001
- New York City
Stocks lost direction, hurt by existing home sales data, showing that sales fell to a seasonally adjusted annual rate of 6.30 million units, slightly down from expectations. The National Association of Realtors reported that the median home price for August was $225,000, compared with a revised $230,000 in July, marking the fist median price decline since 1995. The drop was the second-biggest in the survey''s 38-year history.
- Elena
- 25 Sep, 2006
- New York City
The impending expiry of September derivative-contracts on Thursday swayed traders away from buying stocks. Selling was seen in consumer goods and IT stocks. Metal and oil & gas stocks witnessed buying interest. Tata Steel led the advancers, together with Bharti Airtel, Tata Motors, HDFC Bank and Reliance Industries. Grasim led the decliners. India will soon have its first home-grown CDMA handset maker following a licensing deal announced Monday with Qualcomm Inc.
- Elena
- 25 Sep, 2006
- New York City
Among early movers, Warrior Energy Services Corp. surged 67% after Superior Energy Services agreed to buy it for $175 million in cash and 5.3 million Superior Energy common shares. Walgreen Co. fell 2.5% after reporting Q4 net income rose on higher sales. The drug store operator said it earned 41 cents a share compared to 32 cents a share last year, meeting expectations.
- Ivaylo
- 25 Sep, 2006
- New York City
Initial weakness across mining stocks and a surprise placing in Wolseley held the benchmark index up on Monday, offsetting gains in the pharma sector. SSL International drew the attention in London on Monday amid talk of a imminent takeover approach. The company rose on speculation that Procter & Gamble of the US was about to table a bid. The FTSE was 7.9 points higher at 5,830.2 by mid-day on Monday.
- Elena
- 25 Sep, 2006
- New York City
U.S. stock market futures recovered from Friday''s losses, boosted by retreating crude oil prices. Corporate news at Hewlett-Packard also contributed to the positive mood. The company is expected to be in the spotlight again after announcing late Friday that CEO Mark Hurd will take on Patricia Dunn''s role as chairman.
- Elena
- 25 Sep, 2006
- New York City
The deal is the third multibillion-dollar takeover in the European pharmaceutical industry for the past few days. Bid offers by Germany''s Merck KGaA to buy Swiss Serono for $13.3 billion, and Denmark''s Nycomed to buy the pharmaceutical operations of Germany''s Altana for $5.8 billion have helped to lift the price of Schwarz Pharma.