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Delphi, GM and Inflation
Oct 10, 8:47 PM EDT |
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| Broader averages and oil fell during the session. Delphi bankruptcy jolted market mood. Alcoa reports 33 cents, 4 cents higher than the estimates. |
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| After the bell, Alcoa released third quarter earnings of 33 cents compared to 34 cents a year ago and beating lowered estimates of 29 cents. Market during the day rose and then fell as inflation concerns took over market sentiments. Delphi bankruptcy, lowered earnings outlook from Northrop and revenue outlook from chip maker Xilinx hurt the trading sentiment. |
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GM Drops 4.6% on Delphi's Bankruptcy
Oct 10, 1:25 PM EDT |
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| Alcoa will kick off the earnings season after the bell. The company has lowered its Q3 earnings forecast to the range of 27 to 31 cents a share. |
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| Insurance provider Lincoln National Corp. agreed to buy Jefferson-Pilot Corp. for $7.5 billion in cash and stock in a deal that will create one of the nation's biggest public life-insurance companies. General Motors fell 4.2% after auto parts maker Delphi was pressed to file under Chapter 11 of federal bankruptcy on Saturday. |
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Lincoln Buys Jefferson-Pilot for $7.5 Billion
Oct 10, 11:34 AM EDT |
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| Alcoa will kick off the earnings season after the bell. The company has lowered its Q3 earnings forecast to the range of 27 to 31 cents a share. |
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| Insurance provider Lincoln National Corp. agreed to buy Jefferson-Pilot Corp. for $7.5 billion in cash and stock in a deal that will create one of the nation's biggest public life-insurance companies. General Motors fell 4.2% after auto parts maker Delphi was pressed to file under Chapter 11 of federal bankruptcy law on Saturday. |
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Third-Quarter Earnings Ready to Hit
Oct 10, 9:25 AM EDT |
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| Oil prces rose near $62 a barrel on approaching winter season. Gold climbed over $477 in Europe. The U.S. dollar traded mixed. |
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| Asian-Pacific markets finished mixed with the Nikkei closed for a national holiday, while South Korea's Kospi climbed 2%. European stocks advanced on telecom equipment shares, led by the German DAX 30, up 0.9%. The earnings season is expected to begin with the world's biggest aluminum maker Alcoa, reporting after the bell. The company has lowered its Q3 earnings forecast to the range of 27 to 31 cents a share, blaming hurricanes and energy costs. |
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