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At Mid-Day Market Rebounds
Nov 07, 1:27 PM EST |
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| Medical-device maker Guidant Corp sued Johnson & Johnson to force completion of a $25 billion merger of the two companies. |
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| Crude oil fell below $59 and natural gas dropped 2% on mild weather forecasts and eased fears over fuel supplies. Shares of oil companies were sent lower. Exxon Mobil shed 1.3%. ConocoPhillips fell 1.1%. Natural gas producer El Paso Corp. fell 7% on a larger third-quarter loss, hurt by a large charge and declining revenue. |
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Oil Falls Below $60
Nov 07, 11:17 AM EST |
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| Tivo and Yahoo plan to make an agreement that will connect Yahoo's online service to TiVo's set-top boxes. TiVo jumped 13%, Yahoo gained 1%. |
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| El Paso Corp, natural gas producer, reported a larger third-quarter loss of 55 cents vs. 33 cents a year ago, hurt by a large charge and 30% revenue decrease. Analysts had expected net income of 15 cents per share. Sierra Pacific Resources posted Q3 net earnings of 33 cents a share, down from 49 cents a share in the same period a year ago. Radica Games posted surging Q3 earnings of 67% on 30% sales growth. |
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Earnings in the Focus
Nov 07, 9:19 AM EST |
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| Oil pricers declined further below $60 a barrel on warmer weather. Gold advanced in European trading. The U.S. dollar was mixed. |
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| Asian-Pacific markets closed in the red led by Hong Kong''s Hang Seng, down 1.5%. The Nikkei lost 0.1% but held above key 14,000 points. The Indian markets surged 1.7%. European stocks traded mostly higher on deal talk and stronger dollar. Natural gas producer El Paso Corp. reported a larger third-quarter loss of 55 cents a share, hurt by charges and 30% revenue decrease, misses estimates of a profit of 15 cents per share. |
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