|
|
|
Nasdaq Up 5.2%, Dow Up 2.7%
Aug 18, 4:34 PM EDT |
|
| Market averages climbed every day of the week. Dell fell 9% but closed only 2.6% lower. Altria gained 4%. Oil managed to gain. |
|
| For the day and for the every day of the week, market averages rose. For the week Nasdaq gained 5% and Dow rose 2.65%. Earnings disappointments from Gap and Dell did not sway buyers. Dell fell 9% at opening but managed to recover at close. Ruling on tobacco case helped Altria to gain 4%. Gap lost 3% on earnings news and traded near one-year low. |
|
|
Full Story... |
Europe Posts Modest Losses
Aug 18, 12:34 PM EDT |
|
| BAE Systems rose 2.6% in London, after securing a $19 B deal to provide Saudi Arabia with fighter jets. Media and advertising group WPP rose 2.1%. |
|
| European markets posted modest losses Friday with little economic and corporate news to give direction to the market. Yet, London FTSE 100 finished up 0.05%, supported by gains for the tobacco and energy sectors. Imperial Tobacco gained 2.3% and British American Tobacco rose 0.4%. The German DAX 30 lost 0.28%, while the French CAC 40 fell 0.18%. |
|
|
Full Story... |
Microsoft Lifts Share Buyback by $16.2 B
Aug 18, 11:41 AM EDT |
|
| J.M. Smucker reported Q1 profit fell 4% to 28.72 million from $29.90 million a year ago, while earnings fell 2% to 50 cents a share from 50 cents. |
|
| U.S. market averages traded below the flat line. However, strong gains by Altria and Microsoft limited the downside for the Dow. Altria rose 3.7%, benefiting from a favorable court ruling, while Microsoft moved 2.2% higher after announcing that it increased its share buyback plan by about $16.2 billion. |
|
|
Full Story... |
Falling Oil Helps Auto Stocks in India
Aug 18, 10:39 AM EDT |
|
| Sensex on BSE retreated slightly today amid volatile trading. Refineries and auto sector stocks advanced. |
|
| After the sharp surge in recent trading session, profit taking seized the market. The benchmark index witnessed a lot of volatility on Friday, before it recouped some losses to end with a minor loss. Falling oil prices helped the auto sector and refineries, while metal stocks, banking shares and consumer goods sector declined the most. Engineering, pharma and software stocks also gained. |
|
|
Full Story... |
Ford Cuts Jobs, Production
Aug 18, 10:00 AM EDT |
|
| Light, sweet crude rose 68 cents to $70.74 a barrel in electronic trading on the New York Mercantile Exchange. |
|
| Microsoft Corp. announced that it increased its share buyback plan by about $16.2 billion, lifting its total repurchase authorization to $36.2 billion through June 30, 2011. Ford Motor said that it is planning to partially shut down plants in the U.S. and Canada in the fourth quarter due to reduced production in North America. The company said Q4 production would be down 21%, and Q3 production will be 20,000 units below what was previously announced. Company''s shares dropped 3.2%. |
|
|
Full Story... |
Dell Falls on Earnings and SEC Probe
Aug 18, 8:43 AM EDT |
|
| Light, sweet crude gained 64 cents to $70.70 a barrel.The dollar declined vs. the yen after China's central bank lifted interest rates. |
|
| After four consecutive sessions if gains, U.S. stock equity futures indicated a flat opening. Altria Group and Reynolds American are expected to rise after a judge''s ruling held that tobacco companies violated federal racketeering laws. Tech stocks are expected to fall after Dell reported a 51% net income drop in Q2 and revealed SEC probe regarding accounting issues. Company''s shares dropped 6.7%. Gap Inc. posted Q2 profit drop of 53% on lower margins. |
|
|
Full Story... |
Europe Sinks On Profit Taking
Aug 18, 6:48 AM EDT |
|
| European stocks declined Friday as volumes were low and investors took profits after economic data from the US Fed caused new inflation worries. |
|
| Inflationary concerns were back as the latest manufacturing data from the Philadelphia Federal Reserve were unexpectedly strong. That influenced an already thin by volume August trade. The FTSE 100 in London was backed by defense stocks and tobacco shares but other markets slumped. The U.K. FTSE 100 index added 0.2%, while the German DAX Xetra 30 index lost 0.1% and the French CAC-40 index fell 0.1%. |
|
|
Full Story... |
Gold Ends At Seven-Week Low
Aug 18, 6:15 AM EDT |
|
| Gold futures closed at a seven-week low following the weakness in prices as the crisis in the Middle East subsided. |
|
| Gold closed under the $630 level on Thursday, tracking the fall of oil prices, reflecting the relatively calmed international relations, easing the precious metal significance as the last resort to traders. Some analysts are of the opinion, though, that gold is building a base now for new heights that would hit the market later in the year. Silver, platinum, palladium and copper followed suit and also fell. |
|
|
Full Story... |
1
 |
|
