|
|
|
New Homes Sales Drop
Mar 24, 6:07 PM EST |
|
| News homes sales drop the most in nine years and durable goods orders rose but averages traded lackluster. Gold and silver rise. Crude crosses $64. |
|
| Market averages traded in erratic fashion on economic news. New homes sales dropped the most in nine years but durable goods orders rose more than expected. Broader averaged lost of most the gains by learly afternoon and failed to recover for the rest of the session. Lucent is in talks to be acquired by Alcatel and investors sell 90% of the offered shars in the IPO of Tim Hortons on 38% gain at the opening. |
|
|
Full Story... |
Tim Hortons IPO Up 30%
Mar 24, 5:34 PM EST |
|
| Hortons's jumps 38% at the opening but trades lower after 70% of shares change hand at mid-day. The Canadian chain is valued at $7 billion. |
|
| Restaurant IPOs have not always delivered returns that investors see on the first day, however there are exceptions such as Chipotle Mexican Grill, Mortons Restaurants Group. The Grill doubled on its debut but Mortons rose only 5%. Canadian chain has generated better operating margin and cash flow then its parent Wendys. The company plans to have more than 3,500 locations in Canada and 500 location in the U.S by the year 2008. |
|
|
Full Story... |
Mergers Send Europe Higher
Mar 24, 1:16 PM EST |
|
| After the sharp fall this week, Microsoft rose 8 cents on news it will release the latest version of its ubiquitous Office software in October |
|
| European markets advanced Friday, reflecting merger-and-acquisition activity among drug and telecom stocks and U.S. markets gains. German drug maker Bayer rose 1.9% offering 16.3 billion euro to Schering. French telecom company Alcatel was also in the spotlight on talks with Lucent Technologies about a prospective merger deal. The German DAX 30 gained 0.4%, the French CAC 40 rose 0.5%, and London FTSE 100 climbed 0.7%. |
|
|
Full Story... |
Oil, Gold Stocks Advance
Mar 24, 12:26 PM EST |
|
| After the sharp fall this week , Microsoft rose 8 cents on news it will release the latest version of its ubiquitous Office software in October. |
|
| Stocks recovered from initial weakness, boosted by disappointing new home sales data which erased interest-rate concerns but the steeper-than-expected drop of 10.5% raised concerns about the housing market. In addition, news that Google will be added to the benchmark index S&P 500 sent the stock up 8.3%, providing further lift to the sentiment. Lucent Technologies also rose 10.6% after its French peer Alcatel confirmed that it was in merger talk with the company. |
|
|
Full Story... |
New Home Sales Drop
Mar 24, 11:14 AM EST |
|
| February durable goods orders jumped 2.6%, following an 8.9% drop last month, exceeding expectations of 1.5% increase. |
|
| Stocks recovered from initial weakness, boosted by disappointing new home sales data which erased interest-rate concerns but the steeper-than-expected drop of 10.5% raised concerns about the housing market. In addition, news that Google will be added to the benchmark index S&P 500 sent the stock up 8.3%, providing further lift to the sentiment. Lucent Technologies also rose 10.6% after its French peer Alcatel confirmed that it was in merger talk with the company. |
|
|
Full Story... |
Lucent Jumps 10% on Deal
Mar 24, 10:17 AM EST |
|
| February durable goods orders jumped 2.6%, following an 8.9% drop last month, exceeding expectations of 1.5% increase. |
|
| Stocks opened mixed with tech stocks rising on news that Google will be added to the benchmark index S&P 500 on March 31. The company stock rose 8.3%. Lucent Technologies also rose 10.6% after its French peer Alcatel confirmed that it was in merger talk with the company. |
|
|
Full Story... |
Google to Join S&P 500
Mar 24, 9:48 AM EST |
|
| Crude oil prices slightly retreated after spiking Thursday on shrinking oil supplies. The dollar gained on strong data. Gold prices rebounded. |
|
| Stock futures pointed to a positive start Friday, boosted by news that Google will be added to the benchmark index S&P 500 on March 31. The company stock rose 9%. Lucent Technologies also rose after its French peer Alcatel confirmed that it was in merger talk with the company. In economicnews, February durable goods orders jumped 2.6%, following an 8.9% drop last month, exceeding expectations of 1.5% increase. |
|
|
Full Story... |
India Gains 1%
Mar 24, 9:00 AM EST |
|
| Sensex rose 1% on the strength in steel and construction companies. Foreign investors led the buying for the week. |
|
| For the week market consolidated and gained 0.8%. Construction, metals and mining and banking stocks enjoyed sharp gains. Steady demand of stocks from local and foreign investor kept index at record levels. Index crossed for the first-time 11,000 this week and gained last 1,000 points in less than 30 trading days. Previous rise of 1,000 points took 48 trading days. |
|
|
Full Story... |
Bayer, Alcatel Lift Europe
Mar 24, 8:26 AM EST |
|
| German drugmaker Bayer rose 1.3% after making a bid for Schering, while rival company Merck KGaA fell 0.7%. |
|
| European stocks traded higher at mid-day supported by merger-and-acquisition talk among drug makers and telecom-equipment companies. The German Bayer offered 16.3 billion euro to Schering, exceeding the bid from its rival Merck. The French Alcatel is reportedly in talk with Lucent Technologies for a potential deal. The German DAX 30 gained 0.2%, the French CAC 40 rose 0.4%, and London FTSE 100 climbed 0.6%. |
|
|
Full Story... |
Property Stocks Lead Japan
Mar 24, 8:02 AM EST |
|
| The biggest property developer Mitsui Fudosan gained 0.4%, while Sumitomo Realty & Development climbed 2.6%. |
|
| Asian-Pacific benchmarks finished mostly in the positive. The Nikkei rose 0.4% on real-estate stocks which were boosted by economic data, showing that commercial land prices rose for the first time in 15 years. South Korean Kospi reversed from early losses to rise 0.7%, Taiwan Weighted index added 0.2% on steel stocks, while Shanghai composite fell 0.6% and Hong Kong Hang Seng dropped 0.4% on interest-rate concerns. |
|
|
Full Story... |
1
 |
|
