- 123jump.com Staff
- 25 Sep, 2005
- New York City
Refineries in Texas have been spared the feared heavy damage but it may take weeks or even a month to bring oil production, refining, and pipeline infrastructure back to normal. Eight ports in the region transporting more than 55% of farm exports may take couple weeks to restart. Lack of electric and man power may slow recovery.
- Yordanka
- 24 Sep, 2005
- New York City
The traditional summer IPO slowdown finally ends at the end of September. Ikanos managed a strong debut and traded 10% above offer price on Thursday. Global Cash Access jumps 7% and North Pointe Holdings closes flat.
- 123jump.com Staff
- 23 Sep, 2005
- New York City
Refinery storm Rita, at the end of the week, has managed to shut down 99% of oil and 72% of gas production in the Gulf of Mexico region. Total loss of production for both the hurricanes is likely to exceed 8% of annual output for oil and natural gas. Regardless of the strength of Hurricane Rita, gasoline prices at pump are likely to rise in the next two weeks.
- Elena
- 23 Sep, 2005
- New York City
European stocks closed up led by the German DAX 30 and CAC 40 both up 0.7%. Oracles, software supplier, posted 1Q profit of 10 cents a share on 25% higher revenue, but released disappointing 2Q revenue forecast. Alcoa, aluminum maker, projected 3Q earnings 39% below estimates. JLG Industries, equipment maker, posted doubled 4Q earnings of 69 cents a share on record-high revenue, but projected 2006 profit below expectations. Mexico's central bank reduced its benchmark rate to 9.25% from 9.50%.
- Elena
- 23 Sep, 2005
- New York City
European stocks gained ground on oil prices drop, led by the German DAX 30 up 0.4%. Oracles, software supplier, posted 1Q profit of 10 cents a share on 25% higher revenue, but released disappointing 2Q revenue forecast. Alcoa, aluminum maker, projected 3Q earnings 39% below estimates. JLG Industries, equipment maker, posted doubled 4Q earnings of 69 cents a share on record-high revenue, but projected 2006 profit below expectations.
- Elena
- 23 Sep, 2005
- New York City
Asian-Pacific markets closed broadly lower on profit-taking with South Korea's Kospi down 2% and Japan's Nikkei closed for a national holiday. European stocks gained ground on oil prices drop, led by the German DAX 30 up 0.4%. Oracles, software supplier, posted 1Q profit of 10 cents a share on 25% higher revenue, but released disappointing 2Q revenue forecast. Alcoa, aluminum maker, posted 3Q earnings 39% below estimates.
- 123jump.com Staff
- 22 Sep, 2005
- New York City
Hurricane Rita remains in focus. Rita, one of the strongest hurricanes to hit the Gulf of Mexico region, could cause severe damage to more than 25% of nation's oil production and refining facilities. The 23% of domestic refining capacity is shut down with the unknow damage to the oil platforms in the region. KB Home earnings powered the home builders rally.
- Elena
- 22 Sep, 2005
- New York City
About 18 Texan oil refineries are threatened by Hurricane Rita, with a combined production capacity of about 4 million bpd, the U.S. Energy Information Administration said. The Labor Dept. released initial jobless claims in the week ended Sept. 17, showing that claims rose to 432,000 from the previous week's revised figure of 424,000. Economists had expected claims to rise to 450,000.
- Elena
- 22 Sep, 2005
- New York City
The Labor Dept. released weekly jobless claims for the week ending Sept. 17, showing an increase of 8,000 to a seasonally adjusted of 432,000 people. The initial claims were highest since July 2003 but came below expectations of 440,000. KB Home rose 2% on 3Q earnings of $2.55 a share, beating expectations of $2.39. General Mills posted strong 1Q income of 64 cents on higher sales.
- Elena
- 22 Sep, 2005
- New York City
Asian markets closed mostly lower with the Nikkei down 0.3% and Hong Kong down 0.3%. European stocks sharply declined at mid-day with German DAX 30 being the biggest loser , down 0.7%. The Labor Dept. released weekly jobless claims for the week ending Sept. 17, showing an increase of 8,000 to a seasonally adjusted of 432,000 people, vs. expectations of 440,000.
- 123jump.com Staff
- 21 Sep, 2005
- New York City
Broader averages declined one percent as oil rose by the same. The decline in averages was led by broad sell-off in retail, techs, consumer staples, casinos, and home buiders. Weekly oil report suggested that crude oil inventories fell but that of gasoline and distillate inventories rose. 10-year note yield fell by 0.06 percent to 4.18%.
- Elena
- 21 Sep, 2005
- New York City
FedEx reported 1Q income of $1.10 a share vs. $1.08 on 10% revenue growth. The company raised its 2006 outlook to $5.25 to $5.50. Morgan Stanley posted 3Q 83% earnings drop of 13 cents a share vs. 76 cents a year ago. Retailers, casinos and airlines decline, while energy stocks gain. The Energy Department reported a crude inventories drop of 300,000 barrels for the week ending Sept.16.
- Elena
- 21 Sep, 2005
- New York City
Japan's Nikkei reached a new four-year high of 13,196 and South Korea's Kospi hit a record of 1,196. European markets lost ground at mid-day on raised U.S. interest rates. Avon Products lowered earnings guidance on weak sales. ConAgra Foods posted 1Q earnings of 68 cents a share, beating estimates of 23 cents. FedEx reported 1Q income of $1.10 a share vs. $1.08 on 10% revenue growth. The company raised its 2006 outlook to $5.25 to $5.50.
- Elena
- 21 Sep, 2005
- New York City
Japan's Nikkei reached a new four-year high of 13,196 and South Korea's Kospi hit a record of 1,196. European markets lost ground at mid-day on raised U.S. interest rates. Avon Products lowered earnings guidance on weak sales. ConAgra Foods posted 1Q earnings of 68 cents a share, beating estimates of 23 cents. FedEx reported 1Q income of $1.10 a share vs. $1.08 on 10% revenue growth. The company raised its 2006 outlook to $5.25 to $5.50.
- Elena
- 21 Sep, 2005
- New York City
Asian markets finished mixed with Japan's Nikkei reaching a new four-year high of 13,196 on domestic economu confidence and South Korea's Kospi also up to a record of 1,196. European markets lost ground at mid-day on raise U.S. interest rates. Avon Productsowered guidance on low sales.