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TI, Altera Drop. Asian Markets Open Lower
Mar 06, 10:10 PM EST |
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| Yield on 10-year rose to 4.742% and utilities, small cap stocks and housing stocks took dive. RIM rose and Google fell $10. Gold and Copper fell. |
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| It was a day when rising yield in bond market made investors worried of coroprate profits. Utilities, small cap stocks and interest sensitive housing sector fell. Gold and copper fell. Education Development jumped 12% on a deal to sell the company. GM rose 3%. AT&T,Bell South merger may cut 10,000 jobs. Brazil and Mexico dropped 2.2% and 1% respectively. Asian markets open lower on Tuesday. |
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Markets on the Decline
Mar 06, 2:40 PM EST |
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| Rising bond market yields to 4.73% overshadowed the merger news from AT&T and BellSouth for $67 billion. Crude oil declines. |
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| Three large merger deals, rising bond market yields and falling crude oil prices take the broader averages lower in the afternoon trading. General Motors rose 1.7% and Caterpillar lost 1.9%, the best and worst peformers in the DOW. On light trading volume on NYSE markets are on the delcine. Casino stocks traded higher on the news that Wynn Resorts sold developments rights for $900 million to an Australian company. |
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Europe Closes Off Highs
Mar 06, 1:15 PM EST |
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| The Department of Commerce reported a notable decrease in factory orders which fell 4.5% in January. Economists expected a decline of 5.4%. |
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| European markets closed in the positive but off intraday highs, reflecting U.S. stocks decline. London FTSE 100 was the biggest gainer, up 0.7% after reaching a fresh four-year high at mid-day. U.S. stocks slightly declined as shares of oil majors declined on 2% oil prices drop, following an indication that OPEC would not cut production. The 10-year yield rose 3.4 basis points to 4.718%, reaching its highest level since mid-2004. |
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Settlement Lifts RIM 14%
Mar 06, 11:29 AM EST |
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| The Department of Commerce reported a notable decrease in factory orders which fell 4.5% in January. Economists expected a decline of 5.4%. |
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| U.S. stocks advanced lifted by AT&T acquisition of BellSouth Corp. for $67 billion, GM stake-sale plans and brokerage upgrade of Intel. General Motors announced plans to sell a 17.4% equity stake in Japanese Suzuki Motor Corp., or about 92.36 million shares, for an estimated $2 billion. Citigroup upgraded Intel to buy from hold. Research in Motion rose 14% after it reached a settlement in its patent litigation with NTP. |
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Stocks Rise on GM, Intel, AT&T
Mar 06, 10:45 AM EST |
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| Education Management Corp agreed to be acquired for $3.4 billion by Providence Equity Partners and the investment arm of Goldman Sachs. |
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| U.S. stocks advanced at opening lifted by AT&T acquisition of BellSouth Corp. for $67 billion, GM stake-sale plans and brokerage upgrade of Intel. General Motors announced plans to sell a 17.4% equity stake in Japanese Suzuki Motor Corp., or about 92.36 million shares, for an estimated $2 billion. Citigroup upgraded Intel to buy from hold. Research in Motion rose 13% after it reached a settlement in its patent litigation with NTP. |
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AT&T Lifts Premarket Sentiment
Mar 06, 9:36 AM EST |
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| Citigroup upgraded Intel Corp. to buy from hold. The brokerage also raised its rating on Nucor Corp. to buy from hold. |
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| Stock futures indicated a positive start of Monday session, following the lackluster trading at the end of last week. A number of merger deals, led by AT&T acquisition of BellSouth Corp. for $67 billion, lifted sentiment. Other telecommunications stocks are expected to rise on speculations of further consolidation in the sector. Research in Motion is expected to open 10% higher on the settlement of a prolonged patent fight. |
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Telecoms Lift Europe
Mar 06, 9:29 AM EST |
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| Oil prices retreated to $63.42 ahead of two key meetings in Vienna. European gold declined. The dollar rose vs. the euro and yen. |
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| European averages advanced at mid-day dealings on telecom-consolidation news. London FTSE 100 rose 0.9% to reach a new four-year high at 5910. Asian-Pacific benchmarks finished largely in the positive with the Nikkei rising 1.5% on data showing increased capital investment. Singapore Straits Times rose 0.8% to hit a fresh six-year high. Indian market jumps 1%. |
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Asia Closes Largely Higher
Mar 06, 9:28 AM EST |
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| Oil prices retreated to $63.42 ahead of two key meetings in Vienna. European gold declined. The dollar rose vs. the euro and yen. |
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| Asian-Pacific benchmarks finished largely in the positive with the Nikkei rising 1.5% on data showing increased capital investment. Singapore Straits Times rose 0.8% to hit a fresh six-year high. Indian market jumps 1%. European averages advanced at mid-day dealings on telecom-consolidation news. London FTSE 100 rose 0.9% to reach a new four-year high at 5910. |
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