- Elena
- 02 Aug, 2006
- New York City
Stocks advanced at opening on better-than-anticipated results from Time Warner, although climbing oil prices limited early gains. Time Warner rose 3% on $1 billion profit in Q2. Procter & Gamble climbed 4% on 36% profit rise in Q4. Ford Motor Co. gained 2.9% on reports that the company launched a strategic review of ailing business units that could lead to a sale of those divisions or broader strategic alliances with other automakers.
- Elena
- 02 Aug, 2006
- New York City
U.S. stock futures pointed to a bullish start, with Time Warner and Procter & Gamble reporting higher-than-expected quarterly results. Time Warner Inc. reported a Q2 profit of $1 billion in contrast to a loss of $409 million a year earlier, citing cable TV business growth. Revenues edged up 1% to $10.7 billion. P&G said its Q4 profit grew 36% to 55 cents per share from 52 cents per share last year on 25% revenue increase.
- Elena
- 02 Aug, 2006
- New York City
The Wall Street Journal said the deal may be worth more than eight billion euros, or $10.26 billion, citing people familiar with the matter. Since 2005 Philips has been seeking a separate legal structure for its chip unit, which had 2005 sales of 4.62 billion euros, or $5.8 billion and makes products for mobile phones and cars.
- Ivaylo
- 02 Aug, 2006
- New York City
Stocks declined in morning trading as U.S. stocks t fell overnight after worries about inflation sent stocks down in New York for a second straight day. In Japan, stocks rebounded moderately as investors traded pulp-paper, pharma and beer company stocks amid a takeover battle among two Japanese paper manufacturers. Oji Paper of Japan began a hostile bid for Hokuetsu Paper Mills in a deal that would create the world No. 5 paper maker.
- Ivaylo
- 02 Aug, 2006
- Frankfurt
European markets gained ground on Wednesday brushing off the interest-rate rise worries that pressured U.S. markets to a lower finish overnight. Strong earnings outlooks from companies such as Danone and Cadbury Schweppes helped the rise as well as the results from Credit Suisse and BNP Paribas. The U.K. FTSE 100 index gained 0.5%, the German DAX Xetra 30 index rose 0.7% and the French CAC-40 index climbed 0.8%.
- Ivaylo
- 02 Aug, 2006
- Metals
The dollar had lost ground and suggested a strong round of buying in gold. The growing tension between Israel and Hezbollah also made prices rise. Silver rose to a high, before settling down, but was up on the day. Copper futures failed to take out the peak on Monday, its best level since July 19. Crude oil finished on the rise too.
- 123jump.com Staff
- 01 Aug, 2006
- New York City
Fears of inflation were back on market with the release of consumer spending report. Commerce Department reported that consumer prices are up 2.4% from a year ago so far for this year, highest since inflation rate in April 1995. Another month and another loss of a market share for domestic auto makers. Ford and Chrysler reported a steep decline in auto sales in July from a year ago. Oil climbed back above $75 per barrel. Vodafone refused to sell its take in Verizon back to the company.
- 123jump.com Staff
- 01 Aug, 2001
- New York City
Fears of inflation were back on market with the release of consumer spending report. Commerce Department reported that consumer prices are up 2.4% from a year ago so far for this year, highest since inflation rate in April 1995. Another month and another loss of a market share for domestic auto makers. Ford and Chrysler reported a steep decline in auto sales in July from a year ago. Oil climbed back above $75 per barrel. Vodafone refused to sell its take in Verizon back to the company.
- 123jump.com Staff
- 01 Aug, 2006
- New York City
Fears of inflation were back on market with the release of consumer spending report. Commerce Department reported that consumer prices are up 2.4% from a year ago so far for this year, highest since inflation rate in April 1995. Another month and another loss of a market share for domestic auto makers. Ford and Chrysler reported a steep decline in auto sales in July from a year ago. Oil climbed back above $75 per barrel. Vodafone refused to sell its take in Verizon back to the company.
- Elena
- 01 Aug, 2006
- Frankfurt
European markets finished steeply lower on interest rate concerns and mixed earnings reports. Among movers, Dutch telecom KPN climbed 5.6%, Deutsche Bank shares fell 4.7%, and low-cost airline Ryanair also dropped 3.5%. The German DAX 30 slid 1.5%, the French CAC 40 fell 1.2%, and London FTSE 100 lost 0.8%.
- Elena
- 01 Aug, 2006
- New York City
Stocks continued to trade lower on inflation worries, sparked by strong economic data. The ISM''s manufacturing index added to investor interest rate worries, as the index rose to 54.7 in July, far better than the 53 reading economists had expected. In another report, the Commerce Department said that construction spending rose 0.3%, exceeding expectations of 0.2% growth.
- Elena
- 01 Aug, 2006
- Mumbai
The benchmark Sensex experienced extreme volatility during the day but bounced back after news that international rating agency has upgraded India''s sovereign ratings to investment grade on an improvement in public finances. IT shares, banks and cement stocks finished higher in the latter part of trade. Auto and pharma stocks were down.
- Elena
- 01 Aug, 2006
- New York City
Stocks opened lower following a government report which helped renew concerns about the pace of inflation and interest rates. The Commerce Department released a report showing that consumer prices, excluding food and energy prices, rose at an annual rate of 2.4% compared to the 2.2% rate seen in the two previous months. Core personal consumption expenditures rose 0.2% in June.
- Elena
- 01 Aug, 2006
- New York City
Verizon reported Q2 earnings of $1.6 billion, or 55 cents a share, down from $2.1 billion, or 75 cents a share last year, citing charges and merger integration costs. Eastman Kodak said Q2 loss widened to $282 million, or 98 cents per share from $155 million, or 54 cents per share a year ago on restructuring charges and rising silver prices.
- Elena
- 01 Aug, 2006
- New York City
That move is likely to lead the bankrupt airline to unilaterally impose a new, cost-cutting contract on the union, but the airline''s 9,300 flight attendants warned that any attempt by the airline to enforce new work rules will lead to random mini-strikes aimed at hampering the carrier''s operations.