- Elena
- 21 Dec, 2005
- New York City
A raft of merger-and-acquisition news lifted market sentiment. Tech stocks gained after computer hard-drive maker Seagate said it will pay $1.9 billion in stock for rival Maxtor Corp. In earnings news, FedEx posted 33% net income rise for the Q2, well above expectations. The company lifted its full-year earnings outlook. Nike Inc reported that Q2 profit advanced 15% to $1.14 a share on 10% revenue growth, beat estimate.
- Elena
- 21 Dec, 2005
- New York City
The U.S. economy grew at fastest pace in a year and a half according to a report, released by the Commerce Dept. The third-quarter GDP rose at an annual rate of 4.1%, despite surging oil prices and hurricanes, following a 3.3% rise in Q2. In earnings news, athletic footwear, Nike Inc reported that Q2 profit advanced 15% to $1.14 a share on 10 revenue growth, beating analyst estimate. ATI Technologies reported an 88% decline in quarterly profit, despite revenue growth, exceeding expectations.
- 123jump.com Staff
- 20 Dec, 2005
- New York City
Better than expected decline at wholesale level inflation and stable housing construction report failed to excite the market. November PPI drops 0.7% and core PPI rose only 0.1%. Reflecting healthy construction market single family housing starts for November show robust gains. Nike and Morgan Stanley deliver strong earnings. General Motors shares drops below $20 for the first time since 1987.
- Elena
- 20 Dec, 2005
- New York City
Strong quarterly results from Morgan Stanley and better-than-expected wholesale inflation data supported market in early going, raising hopes for more buying but investors locked in before-year-end gains and stocks turned mixed, dragged by weak tech stocks, General Motors drop, and oil prices rise.
- Elena
- 20 Dec, 2005
- New York City
According to a report, released by the Labor Department Producer price index declined 0.7% in November, seasonally adjusted, following a 0.7% rise in October and a 1.9% gain in September. The Commerce Department said that housing starts rose to an annualized rate of 2.123 million homes in November, up from October''s rate of 2.014.
- Elena
- 20 Dec, 2005
- New York City
Producer price index declined 0.7% in November, seasonally adjusted, following a 0.7% rise in October and a 1.9% gain in September. Asian markets finished mostly higher with the Nikkei up 1.6% on on news that AIG will buy Tokyo property for $3.5 billion. European stocks declined on tech and construction stocks.
- 123jump.com Staff
- 19 Dec, 2005
- New York City
Market played to a familiar tone of morning rally followed by a late afternoon sell-off. Tech stocks rallied in the morning only to face few semiconductor stocks downgrades. Retailers advanced on strong weekend buying from consumers. Gold rose, oil fell but natural gas rose at close. Google rose to all-time high of $446 before tracking all the way back to $426. Google was added to Nasdaq 100 index.
- Elena
- 19 Dec, 2005
- New York City
Stocks traded mixed Monday morning, despite a strong initial boost from merger and corporate news. Pfizer rose 11% after exclusivity of two of its patents was upheld. FPL Group confirmed a deal to buy Constellation Energy Group for $11 billion, creating one of the nation''''s biggest energy suppliers. Google gained 3.2% on a reported 5% stake in Time Warner''''s AOL division for $1 billion, pacing out Microsoft Corp.
- Elena
- 19 Dec, 2005
- New York City
European pharma stocks advanced, boosted by Pfizer which rose 11% after the exclusivity of two of its patents was upheld. In corporate news, FPL Group and Constellation Energy Group agreed to merge, forming a company with a market capitalization of about $28 billion. Google gained 3.2% on a reported 5% stake in Time Warner''s AOL division for $1 billion, pacing out Microsoft Corp.
- Elena
- 19 Dec, 2005
- New York City
Asian-Pacific benchmarks finished higher with the Nikkei rising 1.4% on bargain hunting and exporter issues. European stocks traded mixed with the German DAX 30 down 0.2%, while averages in France and the U.K. gained each 0.1%. In corporate news, FPL Group and Constellation Energy Group agreed to merge, forming a company with a market capitalization of about $28 billion. Pfizer rose after the exclusivity of two of its patents was upheld.
- 123jump.com Staff
- 18 Dec, 2005
- New York City
FPL is reported to buy Constellation Energy for $11 billion. The first deal to be completed since the utility industry deregulation by Congress. A flood of economic reports await investors in the last week before the holiday period begins. Reports on housing market, PPI, durable goods orders are just a few of many economic reports that investors will have to digest during this week. Investors will also closely watch earnings from Morgan Stanley, FedEx, Nike and General Mills.
- 123jump.com Staff
- 16 Dec, 2005
- New York City
Google wants to protect 10% of its revenue, generated by AOL and is reported to be willing to invest $1 billion in AOL unit of Time Warner. Slight fall in third quarter current account deficit failed to excite the market. Near record deficit of $195.8 billion in the quarter was largely caused by deficit in international goods trade. For the year the deficit is likely to reach $780 billion.
- Elena
- 16 Dec, 2005
- New York City
An oil prices decline below $60 a barrel, healthy U.S. economic data and news from GM sent averages higher at the start of Friday session, but the expiration of key options and futures caused volatility to the market. In corporate news, natural gas distributor Southern Union agreed to buy Sid Richardson Energy Services Co. along with a related energy marketing business, for $1.6 billion in cash.
- Elena
- 16 Dec, 2005
- New York City
An oil prices decline below $60 a barrel and news from the CEO of General Motors that the company will raise its 2006 revenue sent averages higher at the start of Friday session, but the expiration of key options and futures are likely to cause volatility to the market. Natural gas distributor Southern Union agreed to buy Sid Richardson Energy Services Co. along with a related energy marketing business, for $1.6 billion in cash.
- Elena
- 16 Dec, 2005
- New York City
The deficit in the U.S. current account narrowed in the third quarter to a total of $195.8 billion, down 1% from the deficit in the April-June quarter of $197.8 billion. Asian benchmarks closed mixed with the Nikkei down 0.5%, falling for a third straight day on profit-taking and weaker dollar. European stocks rose at mid-day on utility stocks. General Motors raised 2006 revenue. Oracle reported 16% increase in Q2 earnings of 19 cents a share on higher revenue, met estimates.