Fed Signals Pause, Stocks Fall, Brazil Record
Apr 30, 7:54 AM EDT |
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| The Fed signal of future rate cut after 0.25% cut today dragged stocks lower. Brazil real and stock market surges on rating revision. |
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| The Federal Reserve lowered its key interest rate by 0.25% to 2% and indicated that it may pausse for a while, however, the Bank of Japan left its key rate at 0.5%. China reported a surge in its crude oil imports and consumption as production rose only 2% in the first quarter. Hong Kong retail sales surged in March and in the first quarter. Brazil debt rating was raised to investment grade by S&P as it improves its balance of payment situation lifting Real and Bovespa stock index. |
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GDP 0.6%, GM and PG Earnings; Stocks Up
Apr 30, 9:25 AM EDT |
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| U.S. stocks edged higher after the release of better than expected economic growth in the first quarter. GM and P&G trade up on earnings. |
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| U.S. stocks edged higher on the release of first quarter GDP data. The economy in the quarter rose at annual rate of 0.6%, same rate as in the fourth quarter of 2007. Higher investment in inventory contributed to the mild gain. Citigroup revised its stock offering plan to $4.5 billion from $3 billion. General Motors reported narrower than expected loss. Procter & Gamble earnings rose 7.9% on rising demand in China, India and Latin America. |
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Stocks Decline on Confidence, Home Prices
Apr 29, 5:06 PM EDT |
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| Merck led decniers in Dow Jones Index and S&P 500 with a loss of 10% after FDA rejected its cholesterol treatment drug. |
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| U.S. stocks fell ahead of rate decision, a decline in consumer confidence and falling home prices. Home prices in February fell 12.7% after falling 10.7% in January. Consumer confidence in April fell on rising commodities and food prices and falling home values. On the earnings front MasterCard surged 13% and Visa increased 7% after they reported surge in earnings. Countrywide Financial reported first quarter loss but loan origination and deposit base rose. Brazil stocks fell 2.8%. |
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U.S. Stocks Rise on Wrigley, Ford
Apr 28, 6:10 PM EDT |
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| U.S. stocks edged higher after Mars agreed to buy Wrigley for $23 billion. Ford Motor jumped 9% after Kerkorian made an offer for 20 million shares. |
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| U.S. stocks traded in a tight range ahead of a rate decision from the Fed on Wednesday. Mars agreed to acquire Wrigley for $80 per share or $23 billion in cash. The deal will be financed by Goldman Sachs, Berkshire Hathaway and the company. Verizon and Humana closed higher after the earnings. RadioShack and AlbertoCulver fell after the earnings. Visa fell in the after hours trading after it reported 39 cents per share or 52 cents per share on adjusted basis. Southern Copper Peru declined. |
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Mars Buys Wrigley for $23 B
Apr 28, 9:36 AM EDT |
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| Mars has agreed to pay $23 billion or $80 per share in a deal partly funded by Warren E. Buffett and Goldman Sachs. |
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| Wrigley has agreed to be acquired by Mars for $80 per share or $23 billion. The deal will be partly financed by Goldman Sachs and Berkshire Hathaway. Wrigley offer is 28% premium from Friday closing price. On the earnings front Humana reported revenue and earnings rise of 12%. RadioShack first quarter sales declined 4% and earnings fell to 30 cents per share. Royal Bank of Scotland is likely to eliminate 25% of its staff. |
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Oil Up $2, Techs Down, Financials Rally
Apr 25, 5:27 PM EDT |
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| Crude oil futures rebounded after trouble in the Middle East, oil supply disruption in Nigeria and BP pipeline closure. |
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| U.S.stocks traded in a tight range after a hectic day of earnings. Microsoft earnings declined and issued a cautious guidance for the rest of the year. American Express earnings and revenue declined but international markets showed healthy gains. Energy producers rose after oil and commodities rebounded. Dollar traded firm against euro and pound. |
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American Express, Baidu Rise; Microsoft Declines
Apr 25, 5:09 PM EDT |
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| American Express jumped after it reported lower than expected decline in revenue and earnigs and lifted stocks of Visa and MasterCard. |
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| Tech stocks fell after a cautious outlook from Microsoft. Microsoft earnings declined 11% to $4.39 billion on nearly flat revenue of $14.45 billion. Weak guidance for the current quarter dragged the stock lower 6%. However, American Express surged 4% after it reported 11% decline in revenue and earnings. Baidu.com revenue soars 108% from a year ago. |
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Apple, Credit Suisse Spark Broad Rally
Apr 24, 4:43 PM EDT |
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| Stcoks rallied after techs, consumers, financials and insurance companies edged higher. Apple, Credit Suisse and Merrill Lynch jumped more than 5%. |
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| U.S. stock market averages rose after a rally in financials, insurance and select tech stocks. Apple lifted tech stocks after it reported sharply higher sales and earnings. Credit Suisse reported higher than expected loss but said for now it does not need to reaise capital. Merrill Lynch is not planning to cut its dividend. T Rowe Price, Aflac and Travelers rose after earnings. In Asia China surged 9% and Switzerland led gainers in Europe. |
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Financials Lift Dow and S&P 500
Apr 24, 4:33 PM EDT |
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| Insurance companies and investment bankers edged higher after Credit Suisse reported a loss. Aflac and Travelers earnings lifted the sector. |
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| U.S. stock averages advanced after a steady rise in financials and insurance stocks. Merrill Lynch surged 10% after it said that it will not cut dividend. Credit Suisse edged 5% higher after it swung to $2.2 billion loss and said that for now it may not need to raise capital. Stocks of T. Rowe Price and Aflac gained on better than expected earnings. |
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Starbucks Plunges 10%, Stocks Decline
Apr 24, 9:57 AM EDT |
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| Stocks declined at the opening on mixed earnings, a fall in durable goods orders and weekly jobless claims. |
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| U.S. stocks edged lower after durable goods order fell 0.3% in March. Mixed earnings from several companies also weighed on the market. Amazon.com fell after earnings rose 30% to 34 cents per share. Apple edged lower after earnings missed the analysts target and Starbucks plunged 11% on weak same store sales and weaker earnings outlook for the year. FMC declined after it reported earnings surged to $1.23. Fidelity National Title fell on weak housing market and earnings slide. |
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