- Elena
- 31 Oct, 2006
- New York City
U.S. stock market futures traded higher Tuesday, boosted by uplifted earnings outlook at Procter & Gamble on a better commodity and energy cost forecast. The consumer products maker reported higher-than-expected Q1 profit jump of 33% to 79 cents a share, up from 77 cents last year, boosted by 27% revenue.
- Elena
- 31 Oct, 2006
- New York City
Sirna is a small biotechnology company developing drugs based on new technology, the so-called RNA interference technology. Merck''s $13-per-share offer is almost a 102% premium over Sirna''s closing price of $6.45. Sirna''s stock surged 98% to $12.74 in after-hours trading.
- Ivaylo
- 31 Oct, 2006
- New York City
In Japan, investor disappointment over profit guidance impacted sentiment negatively. Machinery and large-cap stocks countered the displeasure of investors at the lack of upward revised forecasts from companies. South Korea stocks were led higher by strong gains from Lotte Shopping and other retail stocks. Elsewhere in the region, Hong Kong, Taiwan and New Zealand gained while Australia slipped.
- Ivaylo
- 31 Oct, 2006
- New York City
Banks reversed earlier losses and also insurers made strong earnings-driven gains. Carmakers recovered some of the previous losses, with DaimlerChrysler leading the advance on speculation it may sell its poorly-performing US Chrysler group. UBS, the biggest wealth manager in the world, impacted the market negatively as it posted a worse-than-forecast 21% drop in third-quarter net profit. By mid morning, the FTSE 100 rose 0.3%, Frankfurt Xetra Dax added 0.4%, the CAC 40 in Paris climbed 0.1%.
- Ivaylo
- 31 Oct, 2006
- New York City
The December gold futures rose above the 50-day moving average, which as of the close stood around $602.20. A lot of it was technical buying in nature. The market put in a better performance despite weaker energy, divorcing itself from that. Copper futures pared steep losses from early Monday when bargain hunting emerged after the metal had initially plunged due to softer energy prices.
- 123jump.com Staff
- 30 Oct, 2006
- New York City
Core rate of inflation of in Sept rose 0.2%, excluding food energy prices, down from 0.3% in August. Annual core inflation index PCE index measure for the year so far is running at 2.4%, higher than 2% target rate for the Central Bankers rate. Verizon reported Q3 revenue lower than expected on soft revenue in land-line business. Recent acquisitions and rise in wireless unit helped the total earnings.
- Elena
- 30 Oct, 2006
- New York City
European stock markets closed down on Monday, as investors turned to profit taking mainly in the mining and auto sectors. Negative mood on Wall Street in early trading further pushed stocks down. Germany''s DAX Xetra 30 index closed lower 0.07%, while the French CAC 40 slipped 0.63%. London FTSE 100 finished down 0.55%.
- Elena
- 30 Oct, 2006
- New York City
A steep drop by the oil price helped U.S. stocks recover from earlier weakness, generated by lingering concerns about the strength of the economy and news from Wal-Mart of much-weaker-than-expected October same store sales growth. Energy stocks moved notably down as crude oil dropped 3%, or $1.95 to $58.80 a barrel. At the same time, the price decrease contributed to significant strength in the oil-sensitive airline sector.
- Elena
- 30 Oct, 2006
- New York City
The Indian benchmark index closed at an all-time high above the 13,000 level as earnings results continue to be strong. The record level comes ahead of the Reserve Bank of India review of interest rates Tuesday. Investors expects the bank to keep a key short-term rate unchanged. Stocks of private sector banks, refiners, and index large-caps Infosys, Reliance Industries and ONGC helped the barometer index rally. Tata Motors, SAIL, ABB and ITC declined on Q2 results.
- Elena
- 30 Oct, 2006
- New York City
U.S. stocks started trading lower Monday, as lackluster same-store sales figures released by Wal-Mart reignited worries about the condition of the U.S. economy. In addition, the Commerce Department reported the smallest consumer spending rise of 0.1% in September. In earnings news, Verizon Communications posted Q3 profit above analyst forecasts on 26% revenue increase. The company reported earnings rise of 66 cents per share, up from 68 cents per share last year. The stock fell 2%.
- Ivaylo
- 30 Oct, 2006
- New York City
Pearson declined despite reporting nine-month total sales up 11% and operating profit up 26%. News that Cadbury Schweppes will maintain its current revenue growth target from 2007 but will drop a specific target for operating margins, took its toll. BHP Billiton, Vedanta Resources and Lonmin also retreated. Oil large-caps BP and Royal Dutch Shell are down as crude prices slipped more than a dollar this morning. At mid-day, the FTSE 100 index was 39.1 points lower to 6,121.8.
- Elena
- 30 Oct, 2006
- New York City
Stock market futures indicated a weak opening, as Wal-Mart reported lower-than-forecast October sales which added to concerns about the health of the U.S. economy. The retailer said same-store sales gained just 0.5% in October, its smallest rise in nearly 6 years. Meanwhile, Yahoo shares offered support, rising 2% after Merrill Lynch upgraded its stock to buy from neutral. American Power Conversion climbed more than 26% due to an acquisition offer.
- Ivaylo
- 30 Oct, 2006
- New York City
Weaker-than-anticipated U.S. economic-growth data caused investors to sell stocks. Investor sentiment also suffered by a 0.7% drop in Japan industrial production in September from August, the first fall in two months, and the dollar weakening against the yen. In South Korea, technology stocks and brokerage shares led the decline. HK also lost, while Australia gained, boosted by construction stocks.
- Ivaylo
- 30 Oct, 2001
- New York City
European stocks retreated from recent gains on Monday following lower-than-expected gross domestic product data Friday from the largest economy in the world and as investors took to profit-taking, particularly in the auto sector. Companies such as Dutch bank ABN Amro and publisher Pearson also traded lower after updating investors on progress. By mid morning, the FTSE 100 in London lost 0.6%, Frankfurt Xetra Dax fell 0.7%, and the CAC 40 in Paris shed 0.9%.