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Volatile Markets
Jan 26, 7:38 AM EST |
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| Near Unchanged indexes do not reflect volatility in stock prices during the session. Google jumps $8 and then drops $18 to close down $10. |
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| Weekly oil inventory report was overshadowed by the December monthly existing-home sale report. Industry association, which released the report cautioned that housing market is slowing. Guidant agreed to be acquired by Boston Scientific for $27 billion. Housing stocks contnued their slide on monthly report. Railroads, miners, retailers and restaurants, Crude oil declined close to 2%. Markets in Brazil, India and Germany advance close to 2%. |
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Stocks Lack Direction
Jan 25, 1:22 PM EST |
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| Crude inventories fell 2.3 million barrels the week ended Jan 20, gasoline stocks rose 3.2 million barrels. Existing home sales in Dec. fell 5.7%. |
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| Stocks traded in a lackluster fashion Wednesday morning, although oil declined and major companies generated optimism about earnings and merger deals. ConocoPhillips and Netflix posted sharply higher Q4 profits. Colgate-Palmolive and Amerada Hess released better-than-expected Q4 earnings. Bristol-Myers and Kerr-McGee also posted higher Q4 profits. Walt Disney agreed to acquire Pixar for $7.4 billion. Guidant accepted Boston Scientific''s higher offer of $27.2 billion. |
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Crude Oil Inventories Decline
Jan 25, 12:08 PM EST |
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| Crude inventories fell 2.3 million barrels the week ended Jan 20, gasoline stocks rose 3.2 million barrels. Existing home sales in Dec. fell 5.7%. |
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| Stocks advanced at opening as major companies generated optimism about earnings and merger deals. ConocoPhillips and Netflix posted sharply higher Q4 profits. Trucking company CNF posted 59% rise in Q4, but missed estimates. DST Systems reported lower net income, but in line with estimates. Ryland exceeded expectations, posting record-high results with 53% profit jump. CheckFree posted tripled Q2 profit, beating estimates. Rediff priced an offering of 3M American depositary shares. |
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ConocoPhillips Jumps
Jan 25, 9:35 AM EST |
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| Crude oil prices fell below $67 a barrel on mild weather and expectations of fuel inventories rise. European gold rose. The dollar gained vs. the yen. |
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| Asian markets closed higher, led by South Korean Kospi and Taiwan Weighted index, each rising 1.2%. The Nikkei finished flat, while Hong Kong was the only decliner with a loss of 0.07%. European averages gained ground with the U.K.''s FTSE 100 in the lead, rising 0.8%. In earnings news, Bristol-Myers posted higher Q4 profits, citing a lower tax rate. Colgate-Palmolive reported profit above estimates. Kerr-McGee''s Q4 profit jumped on rising energy prices and gains from asset sales. |
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