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Amazon Advances, BP Warns
Oct 24, 5:02 PM EDT |
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| Market averages gained with earnings gains from Netflix, Kraft, Lucent, Alcatel and BP. |
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| Ahead of Fed meeting tomorrow, market averages rose despite interst rates related nervousness and Fed meeting beginning tomorrow. Nasdaq fell on TI earnings of 46 cents for the quarter but on weak revenue in the quarter and weaker revenue guidance for the fourth quarter. Lucent rose 7% on earnings of 7 cents per share beating the expectations of 4 cents. Amazon reported profit of 5 cents on revenue rise of 24%, stock in the after hours rose 10%. |
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London Gains, France Declines
Oct 24, 2:48 PM EDT |
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| Alcatel closed up 7.19%, helped by strong results from U.S. merger partner Lucent. |
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| European stock markets finished mixed due to cautious trading ahead of the Fed Reserve’s decision on interest rates. London FTSE 100 gained 0.27% to 6,182.50 points, hitting a new record high since 2001. The German DAX 30 added 0.07% to finish at 6,247.52 points. The French CAC 40 fell 0.13% to close at 5,404.54 points. |
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Lockheed Martin Profit Jumps 47%
Oct 24, 10:13 AM EDT |
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| Dow component Pfizer was off 1.8% after UBS downgraded the pharmaceutical group to neutral from buy. |
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| U.S. stocks opened in the red Tuesday, as investors grew cautious ahead of the Fed Reserve''s policy meeting. A weak sales outlook from Texas Instruments also hurt sentiment, but shares of DuPont rallied after the chemicals giant posted strong quarterly results. Lockheed Martin reported a 47% gain in Q3 earnings to $1.46 per share, up from 96 cents per share a year ago, beating estimates of $1.24 per share. |
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Another Quiet Afternoon for FTSE
Oct 24, 9:31 AM EDT |
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| London stocks were little changed on Tuesday on yet another subdued trading session in the market. |
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| Nerves before the busy reporting season had London large-cap stocks struggling by the afternoon, as weak metal prices led the miners down. Trading volumes were light, as they had been in the previous session.The muted performance was despite the U.S. market hitting an all-time high overnight. The FTSE 100 shed 0.4 points to trade at 6,165.9 by mid-day. |
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TI Disappointing View Weighs
Oct 24, 9:08 AM EDT |
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| Crude oil futures fell 34 cents to $58.47 a barrel. The dollar moved higher versus the euro and the yen. |
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| U.S. stock market futures moved lower on Tuesday. The negative mood was generated by cautiousness ahead of Fed Reserve interest-rate decision and a disappointing view from microchip maker Texas Instruments. TI shares dropped on slower-than-forecast 13% sales growth and warning that Q4 semiconductor growth will be below the seasonal average. Lockheed Martin reported a 47% gain in Q3 earnings to $1.46 per share, up from 96 cents per share a year ago. |
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Sales Lift DuPont to Profit
Oct 24, 8:02 AM EDT |
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| Chemicals giant Dupont Co. said Tuesday that it swung to a Q3 profit, helped by improved sales and lower fixed costs. |
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| The company reported Q3 earnings rise of 52 cents a share, compared to a loss of 9 cents a share last year. Total revenue increased 7.5% to $6.31 billion from last year''s $5.87 billion. The Dow component confirmed its forecast for earnings of about $2.86 a share for 2006, in line with the average analyst estimates. |
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Japan Falls, China Gains
Oct 24, 7:33 AM EDT |
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| Asian markets closed mixed Tuesday, with Japan falling due to drops in the shares of the largest mobile operators while Shanghai rose. |
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| The Nikkei 225 fell on Tuesday as shares of of NTT DoCoMo and KDDI both plunged on worries that a nearing price war could hurt profits. The Composite Index in Shanghai jumped due to new share buying after investors got refunds from the strongly oversubscribed offering to the Industrial & Commercial Bank of China. Hong Kong, South Korea and taiwan all advanced, but Australia dipped as mining stocks declined. |
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Higher Dollar Presses Gold Lower
Oct 24, 5:31 AM EDT |
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| A stronger U.S. dollar and lower prices of crude oil resulted in sharp losses for gold on Monday. |
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| The inability of gold to stay above $600 an ounce late last week, together with a stronger U.S. dollar and weaker crude oil weighed heavily on gold on Monday. Liquidation emerged early in the day, when sell stops were hit. Other precious metals were also under fire and declined. Copper fell in harmony with the rest of the metals complex and witnessed a heavy selling after a weak close on Friday. |
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