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Nasdaq Up 1%, Microsoft Earnings Up 11%
Oct 26, 5:54 PM EDT |
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| Nasdaq gained on strength on Comcast. Microsoft earnings rose 11%. Clear Channel rose 9.7% after the company put itself for sale. |
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| New homes sales rose for the second month in a row but median home sales price fell to $217,000. ExxonMobil profit rose 5.7% to $10.9 billion and Shell profit fell 34% on problems in Nigeria. Microsoft profit jumped 11% on strong sales in XBox. Microsoft earned in the quarter 35 cents vs. 29 cents compared to a year ago. Navteq rose 16% and Chicos gained 7%. |
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Telecoms Lift France, Drug Stocks Drag U.K.
Oct 26, 1:17 PM EDT |
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| Business Objects gained 6.6% after Q3 sales for the French business software company rose 19%. Safran shares ended 6.3% higher. |
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| European stock markets closed mixed on Thursday, reflecting disappointing news from major drug companies, losses in the metals sector, and positive earnings news from other companies like Royal Dutch Shell and telecoms provider France Telecom. London FTSE 100 finished down 0.48%, dragged by AstraZeneca and GlaxoSmithCline. The German DAX 30 gained 0.31%. The French CAC 40 rose 0.21%. |
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Red Hat Tumbles 26%
Oct 26, 11:41 AM EDT |
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| Red Hat fell 26% after Oracle said it would offer full technological support for Red Hat's Linux operating system at a lower price than Red Hat's. |
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| U.S. stocks turned lower as investors turned to profit taking, but Exxon Mobil Corp. helped limit the downward trend on a strong earnings report. The latest report on the housing sector offered a mixed picture. The government reported that new homes sales unexpectedly rose 5.3% in September, the most in three months, while median sales prices dropped to a 36-year low of 9.7%. |
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Banks, Short Covering Boost Sensex
Oct 26, 10:39 AM EDT |
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| Fresh buying in the banking sector and short covering in derivatives helped the benchmark index reverse the downward trend. |
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| Banks rallied today, supported by strong second-quarter results. The surge in the sector was also buoyed by the decision of the Fed to leave interest rates intact. Rates hikes draw capital to the U.S. economy, thus leaving emerging markets out of investment flows. Another factor contributing to the rise was short covering in derivatives due to expiry of October 2006. ICICI Bank and SBI led the advancers today, while the main decliners were ranbaxy and Hindustan Lever. |
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Dow Extends Recent Gains
Oct 26, 10:07 AM EDT |
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| Crude oil futures gained 12 cents to $61.52. The U.S. dollar dropped to a three-week low vs. the euro. Gold futures rose. |
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| U.S. stocks extended gains Thursday, helped by strong results from Exxon Mobil and upbeat economic data. Exxon Mobil rose 1.5% after the oil giant posted better-than-expected quarterly results, buoyed by higher crude-oil and natural-gas realizations and improved marketing. The Commerce Department reported capital spending continued to rise as durable goods orders jumped to a six-year high of 7.8%. |
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Pharma Stocks Weigh FTSE down
Oct 26, 9:45 AM EDT |
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| Despite a good strart, the FTSE was flat in early afternoon after pharma stocks AstraZeneca and GlaxoSmithKline gave it a headache. |
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| GlaxoSmithKline and AstraZeneca suffered setbacks with their most-advanced experimental treatments. Their shares had their steepest declines in almost two years. Banks also traded in the red. Northern Rock, Royal Bank of Scotland and Lloyds TSB in trouble, while miners gave back early gains. Anglo American, Lonmin and Rio Tinto are lower, although, Vedanta Resources is still in the blue. The FTSE 100 in London is almost flat in the afternoon, at 6,217, or 0.03% higher. |
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Exxon Mobil Tops View
Oct 26, 9:00 AM EDT |
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| Sony posted a 94% profit decline on its massive battery recall, higher costs for the PlayStation 3 console and rising marketing costs. |
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| U.S. stock futures indicated a higher opening on the back of stronger-than-expected earnings and steady interest rates. A bigger-than-expected jump in durable goods orders and higher weekly jobless claims had little effect on futures. Exxon Mobil reported Q3 earnings rise of $10.49 billion, or $1.77 per share, up from a year-ago profit of $9.92 billion, or $1.58 per share, exceeding expectations of $1.59. |
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H-P Further Extends Mercury Offer
Oct 26, 8:06 AM EDT |
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| Hewlett-Packard announced late Wednesday that it was further extending its tender offer for the shares of software-maker Mercury Interactive. |
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| Hewlett-Packard agreed to acquire the software maker in late July for $4.5 billion, or $52 a share, with the offer being extended until October 27. H-P is extending the offer again, this time until November 1. H-P said that approximately 38.9 million Mercury Interactive shares had been tendered as of October 24, short of the 50.1% majority it needs to complete the deal. |
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Hong Kong Sets New Record High
Oct 26, 7:37 AM EDT |
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| Asian markets ended higher Thursday, led by surging stocks in Hong Kong and Japan supported by FOMC decision to hold interest rates steady. |
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| Hong Kong led the advance in Asian markets on Thursday, with the benchmark index hitting a record closing high on gains in China Mobile and offshore oil and gas producer CNOOC on higher crude-oil prices. In Japan, the rally was led by commodity stocks helped by higher oil prices and gains in auto makers. Telecommunication and technology companies boosted South Korean shares. Australia, Taiwan and Shanghai also recorded gains. |
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Earnings, Oil Boost Europe
Oct 26, 6:32 AM EDT |
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| European markets advance Thursday powered by strong earnings and higher oil and metals stocks as commodity prices surged. |
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| European shares rose to new five-year highs on Thursday morning, after the U.S. Federal Reserve allayed U.S. economic growth fears, keeping rates on hold and after some strong third-quarter financial results from Continental and U.K. companies including oil company Royal Dutch Shell and telecommunications provider France Telecom. In early trade, the FTSE 100 in London climbed 0.4%, Frankfurt Xetra Dax added 0.4%, and the CAC 40 in Paris gained 0.5%. |
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