- 123jump.com Staff
- 10 Oct, 2005
- New York City
After the bell, Alcoa released third quarter earnings of 33 cents compared to 34 cents a year ago and beating lowered estimates of 29 cents. Market during the day rose and then fell as inflation concerns took over market sentiments. Delphi bankruptcy, lowered earnings outlook from Northrop and revenue outlook from chip maker Xilinx hurt the trading sentiment.
- Elena
- 10 Oct, 2005
- New York City
Insurance provider Lincoln National Corp. agreed to buy Jefferson-Pilot Corp. for $7.5 billion in cash and stock in a deal that will create one of the nation's biggest public life-insurance companies. General Motors fell 4.2% after auto parts maker Delphi was pressed to file under Chapter 11 of federal bankruptcy on Saturday.
- Elena
- 10 Oct, 2005
- New York City
Insurance provider Lincoln National Corp. agreed to buy Jefferson-Pilot Corp. for $7.5 billion in cash and stock in a deal that will create one of the nation's biggest public life-insurance companies. General Motors fell 4.2% after auto parts maker Delphi was pressed to file under Chapter 11 of federal bankruptcy law on Saturday.
- Elena
- 10 Oct, 2005
- New York City
Asian-Pacific markets finished mixed with the Nikkei closed for a national holiday, while South Korea's Kospi climbed 2%. European stocks advanced on telecom equipment shares, led by the German DAX 30, up 0.9%. The earnings season is expected to begin with the world's biggest aluminum maker Alcoa, reporting after the bell. The company has lowered its Q3 earnings forecast to the range of 27 to 31 cents a share, blaming hurricanes and energy costs.
- 123jump.com Staff
- 09 Oct, 2005
- New York City
It seems that Fed is active these days in convincing market that it is ready to fight inflation. It will be more comvincing if Fed shows a similar dispay of conviction and resolve telling the U.S. Congress to observe fiscal discipline. Fed's bark in the recent weeks may be directed at the wrong tree. Under the watchful eyes of Fed when the interst rates have touched 41-year low of 1%, federal budget surplus of the nineties has turned to a growing deficit.
- 123jump.com Staff
- 07 Oct, 2005
- New York City
Friday's job report left market in a state of wanting more data on employment situation. Retailers, miners, energy and utilities stocks charged ahead for the day. Research in Motion stock faces turbulence on losing Court of Appeals motion. For the week the Dow down 2.6%, the S&P down 2.7% and the Nasdaq down 2.9%. Alcoa, Genentech an Infosys to report on Monday.
- Elena
- 07 Oct, 2005
- New York City
Alcoa Inc., the world's biggest aluminum maker, will start the new earnings season on Monday after closing the bell. The company lowered its Q3 earnings forecast to the range of 27 to 31 cents a share, blaming hurricanes and energy costs. The stock fell 23% Thursday. Nonfarm payroll data release showed that 35,000 jobs were lost in September following an upwardly revised increase of 211,000 in August.
- Elena
- 07 Oct, 2005
- New York City
Nonfarm payroll data release showed that 35,000 jobs were lost in September following an upwardly revised increase of 211,000 in August. Wholesale inventories in August were $354.5 billion, up 0.5% from July and up 7.7% from a year ago. Sales were $302.5 billion, up 1.3% from July and up 7.6% from August 2004.
- Elena
- 07 Oct, 2005
- New York City
Asian markets closed down on weak U.S. markets and expectations of nonfarm payroll data. The Nikkei was the biggest decliner, down 1%. European stocks slightly declined at mid-day after two straight sessions of heavy losses, with the German DAX falling by 0.5%. Nonfarm payroll report is expected. Economists forecast that 143,000 jobs were lost in September.
- 123jump.com Staff
- 06 Oct, 2001
- New York City
Dallas Fed president's speech led market to believe that interest rates may be rising in bigger increment than the current measured pace. Same-store sales from sixty retailers indicated that holiday sales may be a cause of concern. Initial claims of unemployment rose for the previous week.
- Elena
- 06 Oct, 2005
- New York City
In a day of retail companies same-store sales reports, a few stand out with heavy gains. Target posted 5.6% same-store sales increase in September, meeting its projections. Wal-Mart posted September comparable sales rise of 3.8, followed by BJ's Wholesale, also reporting same-store sales increase of 3.8%. Costco posted 20% net income rise for the fourth quarter with earnings of 73 cents a share on higher revenue, beating expectations.
- 123jump.com Staff
- 05 Oct, 2005
- New York City
Down down 1.2%, S&P down 1.5% and Nasdaq down 1.7%. Inflation scare, lack of progress in the restart of energy production in the Gulf of Mexico and survey indicating slowing service sector of the economy caused a steep decline for the second day in a row. Mortgage application and energy inventories declined in the previous week. All sectors suffered decline in the market.
- Elena
- 05 Oct, 2005
- New York City
Crude-oil inventories dropped by 300,000 barrels last week after a decline of 2.4 million barrels in the previous week. Gasoline inventories posted a decline of 4.3 million barrels vs. last-week
- Elena
- 05 Oct, 2005
- New York City
The Mortgage Bankers Association revealed that its market composite index of mortgage loan application volume decreased by a seasonally-adjusted 1.1% for the week ended September 30, dropping to 713.5 from 721.2 in the previous week. Yum Brands, fast food restaurants operator, posted Q3 earnings rise of 72 cents a share vs. 61 cents a year ago on higher revenue, beating estimates. The company raised its full-year profit outlook to $2.64 a share.
- Elena
- 05 Oct, 2005
- New York City
Asian-Pacific markets closed down on speculations of interest-rate increases with the Nikkei down 0.4%, South Korea falling 1.2%, and Hong Kong down 1.4%. European markets also traded lower at mid-day on U.S. market losses. Yum Brands, fast food restaurants operator, posted Q3 earnings rise of 72 cents a share vs. 61 cents a year ago on higher revenue, beating estimates. The company raised its full-year profit outlook to $2.64 a share.