- Elena
- 14 Sep, 2006
- New York City
Market averages kept trading in the negative mood, hurt by price data which revived fear that the U.S. rate-tightening cycle is not over. Oil and gas stocks reversed from earlier gains as crude prices retreated and U.S. reported that natural gas supplies fell to a two-year low. Bear Stearns declined 57 cents at $135.65, despite reporting better-than-expected earnings and revenue increase.
- Elena
- 14 Sep, 2006
- New York City
Stock markets made a weak opening, depressed by inflation worries and brokerage downgrades of two major Dow components. General Electric was downgraded by UBS to neutral from buy and had its price target cut to $38 from $40. UBS also downgraded Boeing Co, moving its rating to reduce from neutral, and its price target to $74 from $85. Boeing shares slid 1%, while GE shares lost 0.6%.
- Ivaylo
- 14 Sep, 2006
- New York City
Confirmation from AWG that it had received a preliminary approach that could lead to an offer for the firm boosted the sector. Resources stocks also helped boost the FTSE on the back of a strong performance in base and precious metals. BHP Billiton, Rio Tinto, Anglo American and Kazakhmys all advanced. By mid-day, GMT, the FTSE was up 31.1 points, or 53%, at 5,923.3.
- Elena
- 14 Sep, 2006
- New York City
Stock futures declined on renewed concerns about the strength of U.S. economy. Retail sales added 0.2% in August, lifted by an unexpected gain in auto sales that offset lower gasoline prices. August import prices rose by a greater-than-expected 0.8% in August, hinting at inflation pressures. Bear Stearns posted Q3 profit jump of 16% to $3.02 a share compared to $2.69 a share last year, beating estimates of $2.87 a share. Revenue for the quarter was $2.13 billion versus $1.81 billion a year ago.
- Elena
- 14 Sep, 2006
- New York City
The acquisition includes production assets in Western Canada producing around 358 million cubic feet of natural gas and 9,300 barrels of crude-oil per day. The deal is expected to increase cash flow by 24 cents a share in 2006 and 99 cents a share in 2007 but the impact on earnings is seen neutral.
- Elena
- 14 Sep, 2006
- New York City
Once the transaction is completed, GE will receive a 10% ownership stake in the combined company and hold $400 million of notes. Wayne Hewett, who is in charge of the Advanced Materials business for GE, will serve as president and CEO of the new business.
- Ivaylo
- 14 Sep, 2006
- New York City
Asian stocks closed mostly higher on Thursday, led by the Nikkei Average in Japan where an upbeat earnings outlook for office-equipment maker Canon Inc. and a stronger finish on U.S. markets lifted sentiment. Australia and South Korea also ended positive. Hong Kong and Taiwan were the only major markets to finish in the red.
- Ivaylo
- 14 Sep, 2006
- New York City
European stocks gained ground on Thursday, supported by a higher end on U.S. markets overnight and by updates from retailers like Swiss luxury-goods group Richemont. The U.K. FTSE 100 index advanced 0.3% to 5,912, The German DAX Xetra 30 index rose 0.1% to 5,914, the French CAC-40 index increased 0.3% to 5,150.
- Ivaylo
- 14 Sep, 2006
- New York City
The gold futures bounced back from technical support as dollar was slightly weaker on the day, although minimally, but at least allowing that some advance the in metals. The general commodities trend of being down lately maybe subsided on Wednesday, with crude-oil prices being up.Palladium, silver and copper also gained.
- 123jump.com Staff
- 13 Sep, 2006
- New York City
Market averages opened higher and kept the upward bias during the trading session. Higher than expected earnings from Lehman Bros, weak sentiment in oil trading and 14% decline in budget deficit helped market sentiment. Trading volume remaied weak. Oil stock rose despite weak oil. Oil has dropped $13 from its peak. Lehman, Nordstrom and Google gained more than 3% at close. Peabody Energy surged nearly 10%.
- 123jump.com Staff
- 13 Sep, 2006
- New York City
Market averages retained a potive bias. Oil dropped below $64 and Treasure Department reported 14% lower deficit than a year ago. Lehman Bros rose on better than expected revenue and solid earnings. Advanced Micro and Google led the gainers in the tech sector. Valero and Conoco Phillips led energy sector.
- Elena
- 13 Sep, 2006
- New York City
European markets finished mostly in the positive, supported by merger-and-acquisition talk in the truck-making sector. Swedish truck maker Scania jumped 8.2% on expectations that Germany''s Man AG will make a bid for the company. The German DAX 30 climbed 0.6%, the French CAC 40 added 0.2%, while London FTSE 100 lost 0.1%.
- Elena
- 13 Sep, 2006
- New York City
Stocks traded in a lackluster manner Wednesday morning following a strong market rally in the previous session. Hewlett Packard dropped 2.4% after California''s attorney general warned that company officials involved in a scandal over leaks to the media could face criminal charges. Sears Holdings gained $1.24 to $157.08 after approving plans to buyback up to $500 million in stock.
- Elena
- 13 Sep, 2006
- New York City
The market jumped for a second straight day, but erased some of the early gains as Sensex reached key resistance level near 12,000. Banks gained as declining oil price offered hopes that the Reserve Bank may keep short term rates steady. Bharti Airtel, NTPC, ICICI Bank, SBI, Maruti led the advancers on BSE. Reliance Communications, Hindalco and Tata Steel led the decliners.
- Elena
- 13 Sep, 2006
- New York City
U.S. stocks opened lower to turn mixed shortly afterwards on negative news from Merck and recovering oil prices after seven sessions of steep losses. Shares of Merck fell more than 2% after two new studies indicated that withdrawn pain reliever Vioxx carries an increased risk of kidney and heart arrhythmia problems.