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Apple and AMD Advance
Jan 10, 5:21 PM EST |
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| Tech stocks and broader averages barely budged but Apple Computer and Advanced Micro jumped 6% and 5% respectively. Gold, oil and natural gas fell. |
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| 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. |
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Apple Revenue at $5.7 B
Jan 10, 5:18 PM EST |
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| Apple Computer said that revenue for the fiscal first quarter will be $0.7 billion more than previously estimated on sale of 14 million iPods. |
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| 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. |
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GM Lowers Prices
Jan 10, 1:17 PM EST |
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| General Motors said it will lower the prices on 57 of its 76 models in North America to boost its weakening market share. |
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| 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. |
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At Open Markets Consolidate
Jan 10, 11:16 AM EST |
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| Home Depot agreed to buy Hughes Supply, a distributor of construction, repair and maintenance products, for $3.47 B, assuming $285 million in debt. |
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| 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. |
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Alcoa Slips 16% in Q4
Jan 10, 8:21 AM EST |
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| Oil prices rose to $64 on worries about pressure on oil producer Iran. European gold climbed. The dollar was weak vs. the yen and pound. |
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| 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. |
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