Nasdaq Up 4.3%, S&P 500 Up 4.5%
Apr 30, 4:52 PM EDT |
|
| Major averages gained during the trading in the month supported by a steady positive news on earnings. Verizon profit declined. |
|
| Market averages closed lower as worries of inflation overshadowed earnings. Nasdaq closed lower led by a weakness in tech stocks but managed to close 4.3% up in April, S&P 500 gained 4.5% and Dow jumped 5.7% in the month. The broader market paid attention to lower than expected rise in personal income and speding report released by the Commercce Deaprtment. China raised its reserve requirement for banks to cool the fast growing economy and Indian rupee surged 5% in April against dollar. |
|
|
Full Story... |
U.S. Movers: Humana, Hilton, Wrigley
Apr 30, 2:49 PM EDT |
|
| Market averages in the U.S. traded lower despited strong earnings and lower oil prices. |
|
| Market averages traded sideways after the morning report of lower than expected grwoth in personal spending and disposal income in March. Humana reported lower but better than expecte earnings in steady increase in medicare plan memberships. Wrigley, gum maker, reported 30% rise in earnings on 27% advance in sales outside the U.S. Hotel operator Hilton reported 29% increase in revenue. ICICI Bank, Indian bank slumped 8% in New York trading on a plan to raise $4.5 billion. |
|
|
Full Story... |
Energy, Telecom Stocks Help Europe
Apr 30, 1:31 PM EDT |
|
| Next shares rose 2% after Morgan Stanley upgraded the company to overweight from equal-weight and raised its target price. |
|
| European stock markets finished in the green on Monday, driven higher by gains in the shares of Cable & Wireless and strength among energy-producing conglomerates and utility companies. Eni rose 0.6% after the Italian oil group agreed to buy Gulf of Mexico fields from Dominion for $4.8 B. The German DAX 30 increased 0.4%, the French CAC-40 advanced 0.5%, and the U.K.''s FTSE 100 rose 0.5%. |
|
|
Full Story... |
ISE up 42% on $2.8 B Bid Speculation
Apr 30, 12:10 PM EDT |
|
| Dominion Resources agreed to sell its Gulf of Mexico fields to Eni for $4.76 billion. |
|
| U.S. market averages traded mixed in late morning trading amid economic reports which revealed tame inflation, as well as weak spending, manufacturing and construction data. The Dow hit another record high, boosted by optimism over corporate profits. 3M and Procter & Gamble led gainers, rising 1% and 2%, respectively. In merger-and-acquisition news, International Securities Exchange surged 42% amid reports that it is in talks to be acquired by Deutsche Boerse for $2.8 billion. |
|
|
Full Story... |
Delta Air Lines Down 66%
Apr 30, 11:13 AM EDT |
|
| Delta Air Lines tumbled 66% as the U.S. air carrier emerged from Chapter 11 bankruptcy protection a year ahead of schedule. |
|
| In merger-and-acquisition news, International Securities Exchange surged 41% amid reports that it is in talks to be acquired by Deutsche Boerse for $2.8 billion. In another deal, Dominion Resources agreed to sell its Gulf of Mexico fields to Eni for $4.76 billion. |
|
|
Full Story... |
Merrill Lynch to Repurchase $6 B Shares
Apr 30, 10:14 AM EDT |
|
| Crude oil was up 6 cents at $66.52 a barrel. The U.S. dollar gained 0.2% vs. the yen. Gold futures rose $1.30 at $683.10 an ounce. |
|
| Wall Street opened in the negative on Monday, as investors digested data which showed tame inflation and spending growth. Upbeat earnings from Verizon Communication and a share buyback from Merrill Lynch failed to give a strong boost. Verizon quarterly results topped expectations but the stock added only 0.2%. Merrill Lynch inched up 0.2% on plans to buy back up to $6 billion of its own stock under a new share repurchase program. |
|
|
Full Story... |
UK Rides Higher on C&W
Apr 30, 9:51 AM EDT |
|
| The FTSE is higher at mid-day Monday after a poor start, on talks surrounding Cable & Wireless and steady miners. |
|
| The UK benchmark index is steady after an unsettled morning session, with break up talk cementing Cable & Wireless position as the leading large-cap stock, while strong metal prices are helping miners. The leading index had got off to a weak start as dealers focused on US and China growth concerns, but stocks soon surged tracking the C&W rumours in the weekend press. The FTSE 100 was 0.65% higher at 6,460. |
|
|
Full Story... |
Inflation Data Lead Market to Higher Opening
Apr 30, 9:23 AM EDT |
|
| The Commerce Department said that U.S. consumer spending grew 0.3% in March while inflation pressures declined. |
|
| U.S. stock futures moved slightly higher, lifted by upbeat earnings reports and data which showed that core inflation declined. RadioShack posted Q1 earnings rise on lower costs. The electronics retailer said net income jumped to 31 cents per share, up from 6 cents a year earlier, beating estimates of a profit of 14 cents per share. In economic news, personal income rose 0.7% in March, higher that the 0.6% expected by analysts. Core inflation was flat in March. |
|
|
Full Story... |
China Hits New Record
Apr 30, 9:03 AM EDT |
|
| Chinese stocks hit a record high Monday, while economies around the region ended on a mixed note. |
|
| Asian markets finished mixed on Monday, with export-oriented economies closing on a weaker note on worries over the U.S. growth outlook, while China struck a new record and Australia settled higher on advances in natural-resource stocks. The markets in Hong Kong and South Korea egded lower. Financial markets in Japan are closed Monday, Thursday and Friday for public holidays. |
|
|
Full Story... |
Verizon Q1 Profit Declines
Apr 30, 8:20 AM EDT |
|
| Verizon Communications posted Q1 earnings of $51 cents a share, compared with a year-ago profit of 56 cents a year ago. |
|
| Verizon said its operating revenue rose 6.4% to $22.58 billion from $21.23 billion a year ago. Analysts had been expecting a profit of 53 cents a share on revenue of $22.49 billion. The company said its Verizon Wireless operations helped increase the company''s total number of customers by 14.5% to 60.7 million. The stock added 1.2% in pre-market trading. |
|
|
Full Story... |
|
|
1
