|
|
U.S. Stocks Trend Lower on Weak Techs
May 07, 3:27 PM EDT |
|
| Tech stocks fell after Cisco, Cognizant and EXL Services reported earnings. Cognizant and EXL fell more than 10%. |
|
| U.S. stocks turned negative after the release of weekly crude oil inventory report and index of pending home sales. The crude oil inventories were slightly lower but the inventories of gasoline and distillate were unchanged at the end of the last week. An index of pending home sales in March fell on difficult lending conditions. |
|
|
Full Story... |
U.S. Stocks Flat; Disney Up, Cisco Down
May 07, 3:26 PM EDT |
|
| Cisco and Tesoro declined after the earnings report. Disney gained on rising earnings and revenues. |
|
| U.S. stocks wavered with a negative bias after one hour of trading. First quarter productivity rose at 2.2% across the economy and surged 4.1% in manufacturing sector. Cisco fell a fraction after quarterly earnings declined but sales rose in the latest quarter. Disney earnings rose 22% on 11% rise in revenue. An index of pending home resale fell in March as buyers find it difficult to get financing. Asian markets closed mixed and European markets edged higher. |
|
|
Full Story... |
Refiners, Airlines Fall
May 06, 5:39 PM EDT |
|
| Rising crude oil prices hurt stocks of refineries and airlines. Prices of copper, zinc and aluminum fell on falling imports from China. |
|
| Hong Kong stock indexes ended fractionally up in volatile trading as rising oil prices dragged stocks of airlines and oil refiners. Hang Seng Index rose 0.30% to 26,262.13, and the China Enterprises Index of Hong Kong-listed mainland companies, or H shares, increased 0.18% to 14,651.29. In Shanghai trade, CSI 300 Index fell 1.1% to 4,010.89. Crude oil futures reached a record high in Shanghai and Hong Kong trading dragging stocks of refineries and airlines. |
|
|
Full Story... |
Swiss Re, UBS Lead Stocks Lower
May 06, 5:12 PM EDT |
|
| European markets closed lower across the region on the weakness in financial stocks. UBS fell as much as 4.5%. |
|
| Stocks in Europe closed lower after UBS reported a loss of 11.5 billion francs and Swiss Re missed its target. UBS also decided to elimiate 5,500 positions and raise caiptal to bolster its weak tier-1 capital ratio. NYSE Euronext earnings rose sharply on higher derivative revenues. Adidas first quarter earnings rose after the purchase of rival Reebok. |
|
|
Full Story... |
Fannie Mae Lifts Stocks; Cisco Sales Up 10%
May 06, 4:40 PM EDT |
|
| Crude oil jumped above $122 a barrel as China and the U.S. demand remains high. Cisco net sales rose 10% to $9.8 billion and earnings were $1.8 b. |
|
| U.S. stocks reversed their earlier losses and traded higher. Fannie Mae reported sharply higher than expected losses, trimmed its dividend and plans to raise $6 billion. The largest lender will also be allowed to operate with only 10% of restricted capital by the end of the second quarter. separately, the Swiss bank UBS reported a larger than expected loss and said it will elimiate 5,500 jobs. Crude oil traded at a new record above $122 a barrel. |
|
|
Full Story... |
Tullow Oil Surges, Service Index Falls
May 06, 3:48 PM EDT |
|
| Tullow Oil and other mining and energy stocks gained as crude oil crossed $122 per barrel. |
|
| UK stocks closed nearly unchanged after the service index in April fell to a five year low. Of the 102 FTSE 100 stocks 26 gained, 74 declined and 2 were unchanged. Tullow Oil led advancers in the index shares with a rise of 24% after crude oil prices jumped to $122 per barrel, boosted by further supply disruptions. British Land fell after Morgan Stanley lowered its rating on the company. |
|
|
Full Story... |
U.S. Stocks Rebound, Fannie Up, Oil at $122
May 06, 2:07 PM EDT |
|
| U.S. stocks rebounded from morning slump on rising crude oil and natural gas prices. Financial stocks rebounded as stocks of Fannie Mae and NYSE rise. |
|
| U.S. stocks rebounded from the morning slump after investors focused on reduced capital requirement for Fannie Mae and a steady rise in crude oil and natural gas prices. Fannie Mae will be allowed to operate with capital control ratio of as low as 10% by the third quarter of this year. Crude oil traded above $122. NYSE Euronext Group reported a sharp rise in revenue and earnings on higher revenues in derivative products. D R Horton revenue slumped 65%. |
|
|
Full Story... |
Losses at UBS and Fannie Mae
May 06, 4:40 PM EDT |
|
| The loss at UBS and Fannie Mae dragged financial stocks and broader market averages lower. Stocks in coal, energy, and metals sector rose. |
|
| U.S. stocks fell in the morning trading after the release of earnings from Fannie Mae and UBS. Fannie Mae swung to first quarter 2008 loss of $2.2 billion compared to profit of $961 million. The mortgage lender also cut its dividend to 25 cents per share and announced a plan to raise $6 billion to meet capital requirements. Separately, Swiss bank UBS reported a loss of SFr 11.54 billion and a plan to eliminate 5,500 jobs. |
|
|
Full Story... |
UBS, Deutsche Telekom in Fcous
May 05, 5:41 PM EDT |
|
| UBS is expected to announce layoff of as many as 10% of its staff tomorrow. The Swiss bank is expected to report weak earnings tomorrow. |
|
| European markets closed unchanged in a quiet trading. Markets in UK were closed. Crude oil surged 3% on the continued worries related to Nigerian oil supply. Natural gas, crude oil and precious metals rebounded. Gold, Silver and several food commodities clossed higher. Deutsche Telekom is liklely to bid for Sprint. Deutsche Post said that it has met its first quarter operating profit target. |
|
|
Full Story... |
Yahoo, Countrywide Fall; Sprint, Oil Rise
May 05, 5:09 PM EDT |
|
| The latest Fed survey suggested record tight lending conditions for businesses and individuals. Oil surged above $120 a barrel. |
|
| U.S. stocks opened and closed lower. Yahoo and Microsoft were $4 per share apart and called off merger talks. Sprint is likley to initiate merger talks with Deutsche Telekom. Sprint surged 10%. Separately, Arcelor Mittal is in preliminary talks with the second largest steel company Angang Steel in China. Countrywide plunged 10% on the speculation that the Bank America purchase terms may be revised substantially. |
|
|
Full Story... |
1
2
3
4
5
6
7
8
9
10
 |
|
