|
|
|
Weak Oil, Lower Deficit, Solid Lehman
Sep 13, 4:26 PM EDT |
|
| Activities in oil trading affected trading in stocks and bonds. Budget deficit was 14% lower for the year and Lehman reported strong earnings. |
|
| Market averages opened higher and kept the upward bias during the trading session. Higher than expected earnings from Lehman Bros, weak sentiment in oil trading and 14% decline in budget deficit helped market sentiment. Trading volume remaied weak. Oil stock rose despite weak oil. Oil has dropped $13 from its peak. Lehman, Nordstrom and Google gained more than 3% at close. Peabody Energy surged nearly 10%. |
|
|
Full Story... |
Budget Deficit Declines 14%
Sep 13, 3:33 PM EDT |
|
| Market averages retain a positive bias with less than one hour of trading. Techs and energy stocks lead gainers. |
|
| Market averages retained a potive bias. Oil dropped below $64 and Treasure Department reported 14% lower deficit than a year ago. Lehman Bros rose on better than expected revenue and solid earnings. Advanced Micro and Google led the gainers in the tech sector. Valero and Conoco Phillips led energy sector. |
|
|
Full Story... |
Truck Makers Push Europe Up
Sep 13, 12:32 PM EDT |
|
| Gemalto, maker of smart cards, dropped 16.2% after its first-half net income fell 47%. Airline Alitalia fell 10% on wider first-half income loss. |
|
| European markets finished mostly in the positive, supported by merger-and-acquisition talk in the truck-making sector. Swedish truck maker Scania jumped 8.2% on expectations that Germany''s Man AG will make a bid for the company. The German DAX 30 climbed 0.6%, the French CAC 40 added 0.2%, while London FTSE 100 lost 0.1%. |
|
|
Full Story... |
Hewlett-Packard Turns to Losses
Sep 13, 11:54 AM EDT |
|
| Crude oil inventories fell 2.9 million barrels in the week ended Sept 8, while gasoline inventories showed a week-over-week increase 100,000 barrels. |
|
| Stocks traded in a lackluster manner Wednesday morning following a strong market rally in the previous session. Hewlett Packard dropped 2.4% after California''s attorney general warned that company officials involved in a scandal over leaks to the media could face criminal charges. Sears Holdings gained $1.24 to $157.08 after approving plans to buyback up to $500 million in stock. |
|
|
Full Story... |
Sensex Up 2%
Sep 13, 10:33 AM EDT |
|
| Sensex jumps 2% Wednesday, as strong Asian markets and falling global crude oil prices lifted refiners, automobile and aviation firms. |
|
| The market jumped for a second straight day, but erased some of the early gains as Sensex reached key resistance level near 12,000. Banks gained as declining oil price offered hopes that the Reserve Bank may keep short term rates steady. Bharti Airtel, NTPC, ICICI Bank, SBI, Maruti led the advancers on BSE. Reliance Communications, Hindalco and Tata Steel led the decliners. |
|
|
Full Story... |
Merck Contributes to Weak Opening
Sep 13, 10:13 AM EDT |
|
| Oil prices rose 44 cents to $64.20 a barrel ahead of a report on crude inventories Wednesday. |
|
| U.S. stocks opened lower to turn mixed shortly afterwards on negative news from Merck and recovering oil prices after seven sessions of steep losses. Shares of Merck fell more than 2% after two new studies indicated that withdrawn pain reliever Vioxx carries an increased risk of kidney and heart arrhythmia problems. |
|
|
Full Story... |
London Off Early Gains
Sep 13, 9:40 AM EDT |
|
| Early gains were pared in the wider market in mid-afternoon. Next jumps to the top of the benchmark index. |
|
| Up more than 17 points mid-morning, the FTSE 100 was trading flat in late afternoon. The number of Britons claiming jobless benefit dropped sharply last month, but it was no surprise to markets. The rise in retailers led by Next and Marks & Spencer failed to inspire as a dull performance from large-cap mining and oil stocks weighed. |
|
|
Full Story... |
Lehman Bros Exceeds Expectations
Sep 13, 8:44 AM EDT |
|
| Automaker Ford announced it is planning to cut its white-collar costs by nearly a third. |
|
| Lehman Brothers reported Q3 profit increase to $916 million, or $1.57 a share from $864 million, or $1.47 a share last year, supported by higher trading revenue. The company''s revenue in the quarter totaled $4.18 billion, compared to $3.85 billion. Company’s quarterly results exceeded expectations of 1.50 a share, on revenue of $4.01 billion. |
|
|
Full Story... |
Ford to Slash Costs
Sep 13, 8:32 AM EDT |
|
| Crude oil futures rose 21 cents to $63.97 a barrel in electronic trading. The U.S. dollar slipped against the Japanese yen. |
|
| Stock market futures traded mixed ahead of third-quarter earnings release by investment-banking giant Lehman Brothers. Analysts expect Lehman to report net income of $1.49 a share. The broker upgraded Gap Inc. to overweight from equal-weight. Automaker Ford rose 3% in Frankfurt on reports it is planning to cut its white-collar costs by nearly a third. |
|
|
Full Story... |
Chip-Makers Lead Asia Higher
Sep 13, 7:31 AM EDT |
|
| Asian stocks finished higher Wednesday due to Japanese chip makers, which recorded strong gains. |
|
| Asian shares were higher on Wednesday, though, markets retreated from early gains. Japan Nikkei Average gained on separate reports from blue chip Bridgestone Corp. and truck maker Hino Motor Ltd. which stated that they will expand their international sales operations. Indexes in Shanghai and Hong Kong led advancers, with property stocks and energy-sensitive issues in focus. |
|
|
Full Story... |
1
2
 |
|
