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Stocks Run out of Inspiration
Nov 20, 11:56 AM EST |
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| Ann Tayolor Stores reported Q3 doubled profit on 12% sales growth, topped estimates. Walt Disney's Q4 profit fell 25%, exceeded analyst expectations. |
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| At mid-day stocks settled at the unchanged mark. Merger-and-acquisition news has been the major market driver in early going. Cisco Systems Inc announced plans to buy Scientific-Atlanta Inc for $6.9 billion. Another giant, General Electric said it will sell most of its Insurance Solutions reinsurance division to Swiss Re for $8.5 billion. The company made that decision after losing $700 million from the insurance business over the last five years. |
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GE, HP, Cisco Lift Market
Nov 20, 11:55 AM EST |
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| Media giant Walt Disney posted fourth-quarter 25% profit drop on underperforming films, but exceeded analyst expectations. |
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| Merger-and-acquisition news has been the major market driver in early going. Cisco Systems Inc announced plans to buy Scientific-Atlanta Inc, the top U.S. maker of cable television set-top boxes, for $6.9 billion. Another giant, General Electric said it will sell most of its Insurance Solutions reinsurance division to Swiss Re for $8.5 billion. The company made that decision after losing $700 million from the insurance business over the last five years. |
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GE Raises Outlook
Nov 18, 10:29 AM EST |
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| Crude oil prices advanced on cold U.S. weather after falling to a five-month low yesterday. Gold hit an 18-year high. The dollar gained ground. |
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| Asian-Pacific benchmarks advanced on economic optimism, Wall street rally and falling oil with the Nikkei hitting a new five-year high of 1.5% to 14,623,12. European stocks also gained at mid-day on automotive and airline sectors with each average rising 1.1%. In corporarte news, Cisco Systems Inc announced plans to buy Scientific-Atlanta Inc, the top U.S. maker of cable television set-top boxes, for $6.9 billion. |
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