- 123jump.com Staff
- 22 Nov, 2006
- New York City
General Motors stock dropped 4.7% on the news that Kirkorian controlled investment vehicle has cut its GM holding by 25%. The billionaire investor has sold 14 million shares and cut its holding down to 42 million shares, representing only 7.4% stake in GM. The U.S. dollar dropped on the job report showing more people filing for unemployment report. Initial jobless claims increased by 12,000 to 321,000.
- Elena
- 22 Nov, 2006
- New York City
European stock markets finished mixed as disappointing U.S. economic data offset gains in the airline sector. Airlines showed strength on bid speculation. Deutsche Lufthansa rose 1.9%, shares of British Airways rose 2.1%, and Air France-KLM shares gained 3.2%. The German DAX 30 advanced 0.2%, supported by Techem which climbed 7.8%. The French CAC 40 edged down 0.1%, while London FTSE 100 moved notably down 0.7%.
- Elena
- 22 Nov, 2006
- New York City
U.S. stocks turned to a lackluster performance after weaker-than-expected consumer sentiment data offset upbeat Q3 earnings from computer giant Dell. Dow component General Motors also weighed with a drop of 2.6%, extending this-week losses on speculation its biggest shareholder is moving capital to other investments and on concerns the giant automaker headed toward a tough round of contract talks with its biggest union.
- Elena
- 22 Nov, 2006
- New York City
The Sensex finished for the first time above the 13,700 level in an across the bourd rally. Capital goods and auto stocks surged on sustained buying by funds and retail investors. Satyam, Hero Honda, Reliance Energy led the gainers. Bank continued to rally as ICICI and UTI Bank both gained. HDFC Bank was the main decliners, Infosys lost, as its ADR sank. Commercial ties between China and India are set to surge as the two countries focus on development.
- Elena
- 22 Nov, 2006
- New York City
Dell climbed 10% on better-than-expected profit rise of 12% in Q3. Brocade jumped 8% after it reported Q4 net income of 7 cents a share compared with breakeven in the year-earlier period. J Crew Group rose 5% as Q3 earnings rose to $26 million from $3 million in the year-earlier period, helped by 23% revenue increase and comparable-store-sales growth of 19%. Alcoa gained 2% after the world''s biggest aluminum company unveiled a broad restructuring that will cut 5% of its workforce.
- Ivaylo
- 22 Nov, 2006
- New York City
London equities were higher at mid-day on Wednesday following steady sessions in the US and Asia overnight. ICI shares surged after it announced the sale of one of its departments. Firmer metal prices gave strength to the mining sector with Vedanta Resources and Xstrata leading the gainers. Airline stocks were given a boost following news of a possible merger. By mid-day, the FTSE 100 in was up 9 points to 6,211.9.
- Elena
- 22 Nov, 2006
- New York City
U.S. stock futures moved to the upside Wednesday, boosted by better-than-expected Q3 results reported by Dell Inc. Trading is likely to be subdued ahead of the Thanksgiving holiday. The Labor Department reported that in the week ending November 18, initial claims advanced to 321,000, an increase of 12,000 from the previous week''s revised figure of 309,000.
- Elena
- 22 Nov, 2006
- New York City
The computer giant said that net income rose to $677 million, or 30 cents a share, up from $606 million, or 25 cents in the year-ago quarter, exceeding estimates of 24 cents a share. However, the computer giant called the results preliminary and subject to change due to an ongoing probe by federal securities regulators into its accounting practices. Dell shares jumped 9% in pre-open trading.
- Ivaylo
- 22 Nov, 2006
- New York City
Asian markets advanced Wednesday, with the Nikkei 225 in Japan closing higher as investors bought in Mitsubishi UFJ Financial Group, Softbank Inc. and other large-caps that were heavily sold earlier in the week, while a recovery in oil prices lifted a commodity-focused Australian index. The benchmark for China stocks in Hong Kong, the China Enterprises Index, surged, led by gains in property and banking shares.
- 123jump.com Staff
- 21 Nov, 2006
- New York City
Market averages lost its mid-day trading momentum as oil gained. Oil rose and settled above $60. Weather conditions in Alaska prevented oil tankers loading. Deere & Co stock rose 6.55% on 19% jump in earnings on higher farm equipment prices. Google gained $14.60 to close at $509.65. Niche apparel retailers rose in anticipation of better holiday sales. Nordstrom gained 4.5% on earnings.
- Elena
- 21 Nov, 2006
- New York City
European stock markets finished modestly higher Tuesday, as weakness in the auto sector offset gains in financial-services stocks. Oil producers BP and Total also lent support, gaining on higher crude prices. London FTSE 100 ended flat at 6,202.60, with shares in British Land rising 1.1%. The German DAX 30 edged up 0.12%, with Deutsche Boerse, up 3%. The French CAC 40 ended up 0.08%, supported by 1.9% gain for food group Danone.
- Elena
- 21 Nov, 2006
- New York City
U.S. stocks declined in late morning, as trading slowed ahead of the Thanksgiving holiday. However, gains by Boeing Co. provided support for the Dow. Company''s shares rose 1% after winning a $5.5 billion order for 25 planes from Korean Air Co. Google topped $500 for the first time after the Internet search engine announced discounts for online shoppers, using its payment service during the holiday season. It traded up 1.7% at $503.50.
- Elena
- 21 Nov, 2006
- New York City
The markets rose to a record close on Tuesday as investors bought cement and software stocks on hopes of good profit growth, with a strong debut for Info Edge also boosting sentiment. ITC led the gainers, together with Bharti Airtel and Reliance Energy. Infosys and HDFC led the decliners. Several small-caps and mid-caps also surged today. India and China signed a number of trade agreements today. The number of telecom subscribers in India will reach 250 million by end of 2007.
- Elena
- 21 Nov, 2006
- New York City
Stocks opened little changed Tuesday, with Boeing Co. supporting the Dow after the aerospace company received a $5.5 billion order for planes from Korean Air which is buying 25 passenger and freighter aircraft. The stock rose 78 cents to $89.90. Medtronic was upgraded by a number of analysts after the company reported its quarterly profit came in above expectations. The stock jumped 7%.
- Ivaylo
- 21 Nov, 2006
- New York City
Lonmin was a leading advancers in London on Tuesday, as platinum hit a new high. The increase was due to talk that a new exchange traded fund was being created in platinum that will allow the metal to be traded more easily. Utility stocks also gained on reports that Spanish utility Iberdrola was set to make a takeover bid for Scottish Power. Demand from jewellers also rises in the run up to Christmas. In afternoon trade, the FTSE 100 was up 18.2 points, or 0.3%, to 6,222.7.