- Elena
- 12 Jan, 2006
- New York City
U.S. stocks traded lower Thursday morning on rising oil and downgrades of Dow components Coca-Cola and J.P. Morgan Chase. Investors preferred consolidating recent gains to taking advantage of the upbeat economic news released. Trade deficit in November declined by 5.7% to $64.2B after hitting a record of $68.1B in October. Economists had expected a narrower deficit of $66 B. The number of initial jobless claims rose by 17,000 last week to 309,000 vs. expectations of an increase by 24,000.
- Elena
- 12 Jan, 2006
- New York City
Stocks opened lower on rising oil and downgrades of Dow components Coca-Cola and J.P. Morgan Chase. Investors preferred consolidating recent gains to taking advantage of the upbeat economic news released. Trade deficit in November declined by 5.7% to $64.2B after hitting a record of $68.1B in October. Economists had expected a narrower deficit of $66 B. The number of initial jobless claims rose by 17,000 last week to 309,000 vs. expectations of an increase by 24,000.
- Elena
- 12 Jan, 2006
- New York City
The Commerce Dept. reported improved trade deficit in November declining by 5.7% to $64.2B after hitting a record of $68.1B in October. Economists had expected a narrower deficit of $66 B. The Labor Dept. said that the number of initial jobless claims rose by 17,000 last week to 309,000 vs. expectations of an increase by 24,000. Guidant said it reached a new deal to be acquired by J & J which bid up $23.2 B. The increased value is still below Boston Scientific''s offer of $25 B.
- 123jump.com Staff
- 11 Jan, 2006
- New York City
Tech stocks led broader averages rise during the day. Computer hardware, semis and large cap tech stocks led rally. Oil gyrated after the weekly energy report. financial services and brokerage stock rallied for the second day in a row. Gold rose in projections of $600 price before the year end. Casino stocks were intense focus of speculation as estimates on Macau related gambling were revised.
- Elena
- 11 Jan, 2006
- New York City
Lowered fourth-quarter profit guidance from DuPont and BP PLC sent stocks below the unchanged mark. However, brokerage upgrades on Apple Computer and Hewlett-Packard provided support. Banc of America Securities and UBS raised their price target on the stock. Apple climbed 3.4% extending a multi-year high, boosted by its decision to use Intel''s microprocessors. Boeing signed its largest satellite contract in nine years with the deal worth between $550 M and $1 B.
- Elena
- 11 Jan, 2006
- New York City
U.S. stocks opened below the flat line on lowered Q4 profit guidance from DuPont and BP PLC. However, brokerage upgrades on Apple Computer and Hewlett-Packard provided support. Banc of America Securities raised its Apple price target to $87 from $78 and UBS raised its price target on the stock to $100 from $86. Apple climbed 3.4% extending gains on new products announcements and positive revenue. The stock hit a new multi-year high.
- Elena
- 11 Jan, 2006
- New York City
Asian-Pacific markets closed mostly strong on upbeat economic data from China with the Nikkei in the lead, rising 1.5% to 16.363.59. Among the losers, China Shanghai Composite dropped 0.8% and South Korean Kospi dropped 0.2%. European shares advanced at mid-day supported by merger-and-acquisition activity, led by the DAX 30, up 0.6%.
- 123jump.com Staff
- 10 Jan, 2006
- New York City
Market averages were mostly in mild decline but Dow managed to close above 11,000 for the second day in a row. Dow, S&P and Nasdaq traded near four-year high. Apple share advanced 6% on new products release, 14 million iPod unit sales and better-than-expected revenue. AMD advanced on analyst upgrade and hope that the company meeting with Dell will lead selection of its chips for Dell computers.
- 123jump.com Staff
- 10 Jan, 2006
- New York City
Apple released Intel chip based Macintosh computer four months ahead of schedule. The company released several other products at Macworld Expo and Steve Jobs said that revenue for the Q1 reached $5.7 billion. investors wasted little time in bidding up stock 6% as Mr. Jobs spoke at the gathering on trading volume more than three times than normal. Intel-Mac allince is expected to add $500 million in revenue for Intel in 2006.
- Elena
- 10 Jan, 2006
- New York City
U.S. stocks were weak Tuesday morning on profit taking after a rally in the first days of 2006 and disappointing start of the fourth-quarter earnings season with Alcoa reporting a 16% drop of 24 cents a share, missing estimates of 37 cents a share. Phelps Dodge fell 4.9% after it cut its Q4 earnings outlook from the range of $4.15 to $4.40, sharply down to the range of $1 to $1.30 a share, citing higher copper prices, production and sales decrease.
- Elena
- 10 Jan, 2006
- New York City
Stock averages started lower Tuesday on profit taking after a rally in the first five trading days of 2006 when all three major indexes hit four-and-a-half year highs. Phelps Dodge cut its Q4 earnings outlook from the range of $4.15 to $4.40, sharply down to the range of $1 to $1.30 a share, citing higher copper prices, production and sales decrease. Alcoa posted disappointing Q4 earnings of 24 cents a share vs. 39 cents a year ago, or a 16% drop, missing estimates of 37 cents a share.
- Elena
- 10 Jan, 2006
- New York City
Most Asian-Pacific benchmarks closed lower on profit taking, led by the Nikkei, down 1.9% to 16,124.35, followed by South Korea, falling by 0.9% and Taiwan, down 0.5%. Shanghai Composite and Hong Hong''s Hang Seng gained 0.4% each. European stocks traded lower at mid-day on gains consolidation. Aluminum giant Alcoa posted disappointing Q4 earnings of 24 cents a share vs. 39 cents a year ago, or a 16% drop, missing estimates of 37 cents a share.
- 123jump.com Staff
- 09 Jan, 2006
- New York City
Broader averages and tech heavy Nasdaq staged rally in the morning and closed up for the day. Copper, gold and silver closed near record high. Gold crossed $550 for the first time in two decades. Natural gas and oil fell as traders paid attention to weather patterns in the North American cities. IBM fell on downgrade in an otherwise strong tech sector. GM closes up on Goldman recommendation. Tokyo opened lower as financial stocks fell.
- Elena
- 09 Jan, 2006
- New York City
U.S. stocks traded slightly higher Monday morning with investors awaiting the first flood of Q4 earnings reports to provide further upward momentum for stocks to continue their rally. Alcoa is expected to kick off the new earnings season, reporting Q4 results after the bell. A brokerage upgrade for General Motors to in-line from underperform boosted the Dow. Boston Scientific Corp. said it formally bid to acquire medical device maker Guidant for $25 billion, or $72 a share in cash and stock.
- Elena
- 09 Jan, 2006
- New York City
U.S. stocks opened flat Monday with investors awaiting the first flood of fourth-quarter earnings reporsts to provide further upward momentum for stocks to continue their rally. Aluminum Alcoa is expected to kick off the new earnings season. In corporate news, Tyco International Ltd. is planning to split off from the $60 billion conglomerate both its electronics and health-care businesses in tax-free transactions.