S&P 500 1,982.77 -11.52
Gold$1,223.50 $6.10
Nasdaq 4,508.69 -19.00
Crude Oil $66,510.00      $0.00
  
Market Update

U.S. Stocks Gain; U.S. Steel, Amgen Rise


Author: 123jump.com Staff
ticker.com
Last Update: 10:08 AM ET July 29 2008

9:30AM New York – Merrill Lynch reported $8.5 billion in stock sale and took a charge of $5.7 billion for the third quarter.

Merrill Lynch plans to raise $8.5 billion in capital and sell $30 billion of its troubled loans at a steep discount. Merrill Lynch stock fell $1.48 to $22.84. Merrill Lynch will also take $5.7 billion in asset write-down in the third quarter. So far Merrill has taken $41 billion in asset write-down since the credit crisis began a year ago.

Europe Markets Review

In London FTSE 100 Index traded higher 25.70 or 0.48% to 5,338.30, in Paris CAC 40 Index decreased 46.46 or 1.07% to 4,277.99 and in Frankfurt DAX index traded lower 33.69 or 0.53% to 6,317.46. In Zurich trading SMI decreased 38.64 or 0.55% to 6,930.29.

Asian Markets Review

The Nikkei 225 Index in Tokyo closed lower 194.33 or 1.46% to 13,159.45, Hang Seng index in Hong Kong decreased 429.21 or 1.89% closed to 22,258.00. ASX 200 index in Australia decreased 74.70 or 1.52% to close 4,847.40. The KL Composite index in Malaysia decreased 3.29 or 0.29% closed to 1,150.80.

The Kospi Index in South Korea decreased 31.09 or 1.95% to close at 1,567.20, SET index in Thailand closed lower 8.80 or 1.28% to 676.73 and JSE Index in Indonesia increased 3.01 or 0.13% to 2,278.68. The Sensex index in India decreased 557.57 or 3.89% to 13,791.54.

Earnings Review

The Hartford Financial Services Group, Inc, one of the nation''s largest diversified financial services companies said second quarter net income fell 13% to $543 million or $1.73 per diluted share compared to net income of $627 million or $1.96 per share, a year ago.

The Hartford Financial Services Group, Inc (HIG) in the last one year traded as high as $99.21 in October 2007 and as low as $53.20 in July 2008. Based on the yesterday’s closing price the company has a market cap of $18.34 billion.

Rent-A-Center, Inc, the nation’s largest rent-to-own operator said second quarter revenues decreased 0.72% to $719.0 million from $724.2 million a year ago. Net income in the quarter falls 9.54% to $37.7 million or 56 cents per diluted share compared to net income of $41.3 million or 58 cents per share, a year ago. Same store sales increased 0.9%.

Rent-A-Center, Inc (RCII) in the last one year traded as high as $24.96 in July 2007 and as low as $11.67 in January 2008. Based on the yesterday’s closing price the company has a market cap of $1.57 billion.

BE Aerospace, Inc, the world''s biggest supplier of aircraft interior products reported second quarter sales rose 31.1% to $522.2 million from $398.2 million a year ago. Net income in the quarter increased 47.30% to $53.9 million or 59 cents per diluted share compared to net income of $28.4 million or 31 cents per share, a year ago.

BE Aerospace, Inc (BEAV) in the last one year traded as high as $54.09 in December 2007 and as low as $20.62 in July 2008. Based on the yesterday’s closing price the company has a market cap of $2.31 billion.

Group 1 Automotive, Inc, one of the largest auto retailers reported second quarter revenues fell 7.1% to $1.5 billion from $1.6 billion a year ago. Net income in the quarter decreased 31.35% to $18.5 million or 82 cents per diluted share compared to net income of $24.3 million or $1.02 per share, a year ago.

Group 1 Automotive, Inc (GPI) in the last one year traded as high as $40.00 in September 2007 and as low as $14.53 in July 2008. Based on the yesterday’s closing price the company has a market cap of $399.28 million.

Martha Stewart Living Omnimedia, Inc, a media and merchandising company reported second quarter revenues rose 5% to $77.1 million from $73.4 million a year ago. Net income in the quarter was $328,000 or $0.01 per diluted share compared to net loss of $6.7 million or 13 cents per share, a year ago.

Martha Stewart Living Omnimedia, Inc (MSO) in the last one year traded as high as $15.48 in August 2007 and as low as $5.22 in January 2008. Based on the yesterday’s closing price the company has a market cap of $414.33 million.

The McGraw-Hill Companies, Inc, a global information services provider serving the financial services reported second quarter revenues slipped 2.6% to $1.67 billion from $1.72 billion a year ago. Net income in the quarter slipped 23.4% to $212.3 million or 66 cents per diluted share compared to net income of $277.1 million or 79 cents per share, a year ago.

The McGraw-Hill Companies, Inc (MHP) in the last one year traded as high as $61.62 in July 2007 and as low as $33.91 in March 2008. Based on the yesterday’s closing price the company has a market cap of $11.96 billion.

$47.26
-2.29%
$37.33
-1.24%
$25.19
0.00%
$74.47
-2.55%
$43.85
-2.97%
click on symbol for profile

  1  2
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc