- Elena
- 18 Aug, 2006
- Frankfurt
European markets posted modest losses Friday with little economic and corporate news to give direction to the market. Yet, London FTSE 100 finished up 0.05%, supported by gains for the tobacco and energy sectors. Imperial Tobacco gained 2.3% and British American Tobacco rose 0.4%. The German DAX 30 lost 0.28%, while the French CAC 40 fell 0.18%.
- Elena
- 18 Aug, 2006
- New York City
U.S. market averages traded below the flat line. However, strong gains by Altria and Microsoft limited the downside for the Dow. Altria rose 3.7%, benefiting from a favorable court ruling, while Microsoft moved 2.2% higher after announcing that it increased its share buyback plan by about $16.2 billion.
- Elena
- 18 Aug, 2006
- Mumbai
After the sharp surge in recent trading session, profit taking seized the market. The benchmark index witnessed a lot of volatility on Friday, before it recouped some losses to end with a minor loss. Falling oil prices helped the auto sector and refineries, while metal stocks, banking shares and consumer goods sector declined the most. Engineering, pharma and software stocks also gained.
- Elena
- 18 Aug, 2006
- New York City
Microsoft Corp. announced that it increased its share buyback plan by about $16.2 billion, lifting its total repurchase authorization to $36.2 billion through June 30, 2011. Ford Motor said that it is planning to partially shut down plants in the U.S. and Canada in the fourth quarter due to reduced production in North America. The company said Q4 production would be down 21%, and Q3 production will be 20,000 units below what was previously announced. Company''s shares dropped 3.2%.
- Elena
- 18 Aug, 2006
- New York City
After four consecutive sessions if gains, U.S. stock equity futures indicated a flat opening. Altria Group and Reynolds American are expected to rise after a judge''s ruling held that tobacco companies violated federal racketeering laws. Tech stocks are expected to fall after Dell reported a 51% net income drop in Q2 and revealed SEC probe regarding accounting issues. Company''s shares dropped 6.7%. Gap Inc. posted Q2 profit drop of 53% on lower margins.
- Ivaylo
- 18 Aug, 2001
- New York City
Asian markets were mixed Friday as exporters, such as Sony Corp, gained strength from U.S. advances and airlines jumped on an overnight slip in crude-oil prices, while profit-taking drew other shares lower after strong gains earlier in the week. The gains were on U.S. markets, advancing for a fourth consecutive day after economic data suggested slowing inflation and boosted confidence about the health of the economy of the largest export market of Asia.
- Ivaylo
- 18 Aug, 2006
- Frankfurt
Inflationary concerns were back as the latest manufacturing data from the Philadelphia Federal Reserve were unexpectedly strong. That influenced an already thin by volume August trade. The FTSE 100 in London was backed by defense stocks and tobacco shares but other markets slumped. The U.K. FTSE 100 index added 0.2%, while the German DAX Xetra 30 index lost 0.1% and the French CAC-40 index fell 0.1%.
- Ivaylo
- 18 Aug, 2006
- Metals
Gold closed under the $630 level on Thursday, tracking the fall of oil prices, reflecting the relatively calmed international relations, easing the precious metal significance as the last resort to traders. Some analysts are of the opinion, though, that gold is building a base now for new heights that would hit the market later in the year. Silver, platinum, palladium and copper followed suit and also fell.
- 123jump.com Staff
- 17 Aug, 2006
- New York City
The luxury retailer Nordstrom reported second quarter earnings of 67 cents per share beating the estimate of 65 cents. The company revised the full year earnings guidance to $2.30 and $2.39 per share and third quarter earnings to 40 and 45 cents range. The company also received one time settlement payment from Visa/MasterCard for $5.8 million. The stock fell $1.00 in the after hours trading on earnings report.
- 123jump.com Staff
- 17 Aug, 2006
- New York City
Dell reported 46% fall in earings in the second quarter as it battled sever price discounting in the U.S. and market share struggle in the Asia Pacific region. The comapany also reported operating earnings margin of 4.3% of revenue in the quarter. The company managed to eke out mere 1% rise in sales in the U.S. and hold on to its market share leadereship with 34.2%. The company managed to gain sales in the Western Europe in a declining market.
- 123jump.com Staff
- 17 Aug, 2006
- Metals
For the third day in a row market averages spent the entire trading day in the positive range. The 2.5% drop in oil price and similar drops in gasoline and gas price kept broader averages rising. Internet, banks, construction and home builders eked out small gains. Energy related stocks fell. Gold fell close to $14. Merck lost two separate trials related to Vioxx.
- Elena
- 17 Aug, 2006
- Frankfurt
European markets ended in the positive after a lackluster trading session with no major data reports and little corporate news. Still, sharply lower oil prices provided support for the market. Among advancing stocks, truck maker Volvo rose 5%, automaker Renault gained 2.8%, while Van der Moolen added 2.1%. The German DAX 30 gained 0.4%, the French CAC 40 edged up 0.2%, and London FTSE 1200 inched up 0.1%.
- Elena
- 17 Aug, 2006
- New York City
Stronger-than-expected earnings from Hewlett-Packard and a sharp decline by the oil price helped stocks rebound from earlier weakness on profit taking. Hewlett-Packard shares rose more than 5% to $36.26, reaching a five-year high. Broadline retailer Sears Holdings said its Q2 earnings surged 83% to $1.88 a share from 98 cents last year, due to lower expenses and an increase in gross margin. Despite the upbeat results, shares of the company declined 3.4%.
- Elena
- 17 Aug, 2006
- Mumbai
The Sensex Index recorded seven straight days of gains, advancing more than 6% in that period. Strong trading in blue-chip stocks helped the market finish higher. The trading was highly volatile and the market-breadth was negative due to strong buying in small-cap and mid-cap stocks. Auto, engineering, and telecom sectors led the advancers, while aluminum, banking, energy and steel stocks dropped the most.
- Elena
- 17 Aug, 2006
- New York City
The Department of Labor reported that jobless claims in the week ended August 12 fell more than expected. Initial jobless claims fell to 312,000 from the previous week''''s revised figure of 322,000. Economists had expected a decline to 315,000 from the 319,000 originally reported for the previous week.