|
|
|
Nasdaq Drops 1%
Apr 11, 4:33 PM EDT |
|
| Tech stocks decline led major averages to fall at close. Oil trades near $70 and gold falls. Gasoline rises. |
|
| Market averages declined on worries stemming from commodities prices and stubborn oil prices. Bond yields stayed near 5%. Gold traded near $600 and silver and copper gained. European stocks fell led by a sharp decline in Italy. Emerging markets declined led by Brazil, Argentina and Korea. Bausch & Lomb is now 45% below peak price of $89 in mid-year 2005. |
|
|
Full Story... |
Pakistan leads Emerging Markets Gains
Apr 11, 3:31 PM EDT |
|
| Steady rise of index in Pakistan continued as Karachi Index rose 0.5% at close. With market cap of $50 billion the index has gained 1,100% in 5 yrs. |
|
| Emerging markets in general declined with the sharpest declines registered in Brazil, Argentina and Korea. Pakistan market index climbed another 0.5% and has gained more than 1,100% in the last five years of trading trailing only Russia and India with gains of 3,300% and 180%. Russian Central Bank reported trade surplus of $12 billion in February matching January surplus of $12.12 billion. Brazil and Mexico declined ahead of Easter holidays. |
|
|
Full Story... |
Bausch & Lomb and McGraw Hill Trade Opposite
Apr 11, 2:20 PM EDT |
|
| Bausch & Lomb suffers a second day of decline. McGraw Hill trades nears record high. |
|
| Bausch & Lomb declines close to 45% from July 2005 peak of $89. Stock has been in steady decline and suffered heavy losses in the last two days of trading erasing all the gains since 2003. On the other hand, McGraw Hill is trading near all-time high of $59. The company stock has made a steady climb of 90% in the last five years. |
|
|
Full Story... |
Italian Shares Slip 2%
Apr 11, 12:41 PM EDT |
|
| Nokia rallied 4% after the world's largest maker of mobile phones said that the average selling price of its handsets rose to 103 euros in Q1. |
|
| European stocks steeply dropped at close. The Italian MIB-30 stock exchange dropped 2% on diminished prospect for economic reforms as opposition leader Romano Prodi claimed a very thin election victory over Premier Silvio Berluskoni. The German DAX 30 dropped 1.6%, the French CAC 40 fell 1.5%, while London FTSE erased earlier gains to trade down 0.8%. |
|
|
Full Story... |
Nasdaq Down 1%
Apr 11, 11:42 AM EDT |
|
| Swiss banking firm UBS AG agreed to buy Piper Jaffray Cos.' U.S. network of private client branches for $500 million in cash. |
|
| U.S. stocks fell sharply as surging oil prices renewed fears about the impact of energy costs on corporate profits and consumer spending. Concerns about higher fuel costs overshadowed better-than-expected earnings from Alcoa. Technology, airline and housing stocks moved to the downside. Oil stocks like Exxon Mobil, Chevron and ConocoPhillips advanced. |
|
|
Full Story... |
Bausch Slides 17%
Apr 11, 10:53 AM EDT |
|
| Swiss banking firm UBS AG agreed to buy Piper Jaffray Cos.' U.S. network of private client branches for $500 million in cash. |
|
| Another rise in oil and gasoline prices generated negative sentiment and dragged the broader market lower. A barrel of light crude jumped over $69 on the Nymex where gas traded at $2.03 per gallon and investors grew anxious of higher energy costs and their impact on corporate profits. Shares of Bausch & Lomb slipped 17% on reports that the company''s contact lens solution caused eye infections. |
|
|
Full Story... |
Whole Foods Gains
Apr 11, 10:15 AM EDT |
|
| Oil prices jumped to $69.70 on supply concerns. European gold, silver and copper hit record highs on strong buying.The dollar gained vs. the yen. |
|
| U.S. stocks opened slightly higher as stronger-than-expected quarterly results from Alcoa offset negative sentiment, brought by rising oil prices. Alcoa posted more-than-doubled quarterly income on surging metal prices and robust demand from manufacturers. The company earned 69 cents per share on 16% sales growrth, beating estimates of 51 cents. |
|
|
Full Story... |
Alcoa at Record Level
Apr 11, 9:06 AM EDT |
|
| Oil prices jumped to $69.70 on supply concerns. European gold, silver and copper hit record highs on strong buying.The dollar gained vs. the yen. |
|
| U.S. stocks recovered from earlier weakness and looked poised for strong opening after the world''s largest cell phone maker Nokia announced that it was selling phones at higher-than-expected prices. After market close, Alcoa posted more-than-doubled quarterly income on surging metal prices and robust demand from manufacturers. The company earned $260 million, or 30 cents per share on 16% sales growrth. |
|
|
Full Story... |
European Shares Drop
Apr 11, 8:22 AM EDT |
|
| British department-store retailer Marks & Spencer surged 3.8% on Q4 same-store sales increase of 6.8%. |
|
| European stocks dropped at mid-day. The Italian MIB-30 stock exchange fell sharply down to 0.9% on uncertainty over the result of the weekend’s leadership elections. The German DAX 30 dropped 0.7% on disappointing economic data, the French CAC 40 fell 0.5%, London FTSE reversed from early gains to trade down 0.1%. |
|
|
Full Story... |
Asia Locks in Profit
Apr 11, 7:49 AM EDT |
|
| At close in Tokyo, chip-related stocks Advantest dropped 2.8%, Elpida Memory fell 3.6%, and Kyocera lost 0.6%. |
|
| Asian markets finished mostly in the negative, reflecting general weakness among technology and semiconductor stocks. The Nikkei moved lower for a second day in a row on cautiousness ahead of earnings reports and news that BOJ decided to leave benchmark interest rate at zero percent. South Korean Kospi dropped 0.9% on profit taking, Hong Kong Hang Seng lost 0.3%, while Australia All Ordinaries rose 0.8% on mining stocks. |
|
|
Full Story... |
1
 |
|
