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Intel and Dell Drive Market Higher
Nov 13, 4:29 PM EST |
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| Intel and Dell supported a steady upward drift in Nasdaq average. Motorola received $1.6 billion order from China. |
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| Upgrades on Intel and Dell helped to rally semiconductor and tech stocks in general. Broader averages gained on comments fom the Fed President of Dallas. His assertion that the economy is expanding forcefully helped market to further gains in large cap stocks. Intel rose 1.9%, Dell gained 3% and Tyson Foods gained 4% on profit forecast in 2007. Wynn Resorts to issue a special dividend of $6 per share. |
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Telecoms Send Europe Higher
Nov 13, 1:25 PM EST |
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| French power and transportation infrastructure group Alstom jumped 8.5% after the company said first-half net profit rose 67% to 227 million euros. |
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| European stock markets closed in the green territory Monday, helped by telecoms stocks and solid gains for Alstom. The German DAX 30 advanced 0.57%, boosted by 2.6% gain for Deutsche Telekom. The French CAC 40 rose 0.8%, led by engineering group Alstom. London FTSE 100 added 0.23%, with gains limited by miners BHP Billiton, Rio Tinto and drug maker Novartis. |
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Dell, Intel Boost Nasdaq
Nov 13, 11:51 AM EST |
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| Dell climbed 1.85% after Deutsche Bank raised its price targets on the personal computer giant. |
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| U.S. stocks extended earlier gains into a solid advance on speculations that key economic data, due out this week, will show strength in the economy with tame inflation. A positive economic view of a Fed official along with a decline in the price of oil further lifted sentiment. The Dow was led higher by gains for Intel and Merck. Intel jumped 1.7% as Citigroup upgraded the chip sector, while Merck added 1.1%, benefiting from a regulatory setback for rival Novartis. |
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Record Sensex, India on Buying
Nov 13, 10:48 AM EST |
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| Strong foreign funds inflows and an upward revision in earnings estimates drove the Sensex to a new all-time high. |
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| Select large-caps and a surge in small-caps and mid-caps helped the benchmark index jump more than 100 points today. NTPC led the gainers, Bharti Airtel, Reliance Energy and Infosys also advanced. Hero Honda, Tata Steel were among the biggest decliners. Reliance Industries ended flat, failing to capitalize on the upbeat market sentiment. Wheat sowing in India has grown sharply, the farm ministry announced on Monday. |
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Intel Gains on Chip Stocks Upgrade
Nov 13, 10:18 AM EST |
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| ISIS Pharmaceuticals rose 29% after the drug maker said data from two Phase II trials showed its drug, ISIS 301012, reduces LDL, or bad, cholesterol. |
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| Stocks opened mixed Monday ahead of retail sales and inflation data later in the week. Intel was an early gainer, up 1.1%, lifted by an upgrade for the chip sector from Citigroup. SanDisk fell 2.2% after UBS downgraded the company to neutral from buy. Tyson Foods reported a Q4 loss vs. a year-earlier profit. Revenue fell from a year ago, but matched forecasts. The stock rose 2.2% in early trading. |
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London Gains on M&A
Nov 13, 9:40 AM EST |
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| London stocks traded higher on Monday as merger and acquisition activity offset losses in the mining sector. |
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| Bid developments pushed life insurer Resolution higher after it confirmed it was in discussions with various parties concerning a wide range of possible transactions, including a possible offer for the group. Scottish Power was also strong as the market awaits developments following the approach by Iberdrola last week. On the downside, copper futures fell to a five month low, sending all the miners into the red. In late morning, the FTSE 100 was up 7.6 points, or 0.1%, at 6,216.3. |
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Tyson Posts Wider Q4 Loss
Nov 13, 9:12 AM EST |
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| SanDisk was downgraded to neutral from buy at UBS, with the broker citing expectations for a likely oversupply in flash memory chips in 2006-2007. |
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| Stock futures turned flat, as crude oil retreated from an early rally toward $60, falling 77 cents to $58.82. Tyson Foods Inc. reported a wider-than-expected Q4 loss to 17 cents per share, compared with a profit of 33 cents per share last year, missing estimates of a 4-cent loss. The wider loss was attributed to one-time charges and losses in the chicken and beef sectors. |
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Futures Predict Positive Start
Nov 13, 8:18 AM EST |
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| Crude oil futures gained 10 cents to $59.69 a barrel. The U.S. dollar edged higher. Gold futures were steady, while silver declined. |
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| Stock market futures moved slightly higher Monday morning, with investors shifting their focus from election news toward inflation and key data later this week. In corporate news, KB Home announced late Friday that CEO Bruce Karatz is leaving after the conclusion of a stock-option grant price probe. IBM is reportedly joining a consortium led by Citigroup that is bidding for China''s Guangdong Development Bank. |
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Japan Leads Asian Markets Lower
Nov 13, 7:32 AM EST |
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| Asian markets ended mostly lower Monday, with Japanese stocks leading the decline, while Hong Kong shares fell as property companies. |
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| Japanese stocks fell, led by banks, machinery stocks and commodity-related issues ahead of July-September gross domestic product data. In Hong Kong, property companies weighed on the market after developer Henderson Land placed shares over the weekend. South Korean shares finished flat, with strong gains in technology shares offsetting losses in shipbuilders. Australia declined as miners plunged while in Taiwan shares dipped due to tech stocks. |
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Europe Advances on Earnings
Nov 13, 6:31 AM EST |
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| European markets moved higher on Monday as earnings news helped offset declines for mining stocks. |
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| Mining stocks, weakened in response to lower commodity prices. Top of the earnings pile on Monday was Alstom, the French engineering group. It reported a 27% rise in first-half operating profit. Miners were the biggest weight to the downside on worries that a slowdown in the global economy would hurt demand for metals. In early trade, the FTSE 100 in London climbed 0.2%, Frankfurt Xetra Dax gained 0.1%, and the CAC 40 in Paris added 0.3%. |
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