Mittal Launches $23 B Bid for Arcelor
Jan 27, 9:35 AM EST |
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| Oil prices were pushed back above $67 a barrel on continuous tensions in Nigeria and Iran. European gold advanced. The U.S. dollar strengthened. |
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| Asian-Pacific benchmarks rallied Friday, led by huge gains in the Nikkei which rocketed 3.6% to 16,460, posting the biggest one-day rise in four-years. The index jumped 556.66 points, lifted by record-high results released by Sony. European averages gained on Mittal Steel''s bid for Arcelor with the German DAX 30 up 1%. Microsoft posted Q2 profit rise of 34 cents a share on 9% revenue growth. Procter & Gamble posted 29% profit growth in Q2, raised 2006 outlook. |
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Defense and Financial Stocks Lead
Jan 26, 5:08 PM EST |
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| Rise in durable goods orders, fall in oil price and stronger than expected earnings led averages to rise. Microsoft report 34 vs 32 cents a year ago. |
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| Market early rise was supported by strong earnings from defense, financials and tech stocks. Of more than 100 companies to report earnings today, 60% reported better than expected earnings. GM posted Q4 profit loss of $8.45 a share and a loss of $15.13 per share for 2005. Honeywell posted Q4 earnings in line with estimates. First Data rose 7% after it said it will spin off its Western Union business. Chipotle Mexican Grill prices 7.88 million shares at $22, the stock jumps 100%. |
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Chipotle IPO Doubles
Jan 26, 1:38 PM EST |
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| Rise in durable goods order and strong earnings momentum supported gains in averages. Mexico and Brazil jump for the third day. |
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| Stocks rallied Thursday morning, lifted by better-than-expected earnings and positive durable goods orders. GM posted Q4 profit loss of $8.45 a share and a loss of $15.13 per share for 2005. Honeywell posted Q4 earnings in line with estimates. First Data rose 7% after it said it will spin off its Western Union business. Chipotle Mexican Grill prices 7.88 million shares at $22, the stock jumps 100%. |
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GM Posts Heavy Losses
Jan 26, 11:29 AM EST |
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| Durable goods orders rose 1.3% in Dec, vs. an increase of 5.4% in Nov, below the expected rise of 1.5%. Initial jobless claims rose 11,000 last week. |
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| Stocks opened higher on upbeat economic data and strong earnings from major companies, including Caterpillar, despite General Motor''s heavy losses in the fourth quarter and full-year. The automaker posted Q4 profit loss of $8.45 a share vs. a loss of 18 cents a year ago and a loss of $15.13 per share for 2005 vs. net income of $4.92 in 2004. Eli Lilly swung to profit in Q4. Caterpillar posted 54% profit jump in Q4, above estimates. Honeywell posted a Q4 earnings rise in line with estimates. |
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Durable Goods Orders Rise
Jan 26, 9:53 AM EST |
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| Crude oil prices rose over $66 a barrel on supply concerns. European gold traded above $562. The dollar was strong vs. the euro and yen. |
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| Asian-Pacific benchmarks closed higher on stronger dollar and retreating oil. The Nikkei climbed 1.2%, followed by Taiwan Weighted index, also up 1.2%. European averages advanced on Siemens and Deutsche Telecom, led by the German DAX 30, up 0.9%. In earnings news, Danaher beat estimates by a penny, posting a Q4 profit rise of 81 cents a share. Eli Lilly swung to profit in Q4, posting earnings of 64 cents a share. Caterpillar posted 54% profit jump in Q4, surpassing estimates. |
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Volatile Markets
Jan 26, 7:38 AM EST |
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| Near Unchanged indexes do not reflect volatility in stock prices during the session. Google jumps $8 and then drops $18 to close down $10. |
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| Weekly oil inventory report was overshadowed by the December monthly existing-home sale report. Industry association, which released the report cautioned that housing market is slowing. Guidant agreed to be acquired by Boston Scientific for $27 billion. Housing stocks contnued their slide on monthly report. Railroads, miners, retailers and restaurants, Crude oil declined close to 2%. Markets in Brazil, India and Germany advance close to 2%. |
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Stocks Lack Direction
Jan 25, 1:22 PM EST |
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| Crude inventories fell 2.3 million barrels the week ended Jan 20, gasoline stocks rose 3.2 million barrels. Existing home sales in Dec. fell 5.7%. |
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| Stocks traded in a lackluster fashion Wednesday morning, although oil declined and major companies generated optimism about earnings and merger deals. ConocoPhillips and Netflix posted sharply higher Q4 profits. Colgate-Palmolive and Amerada Hess released better-than-expected Q4 earnings. Bristol-Myers and Kerr-McGee also posted higher Q4 profits. Walt Disney agreed to acquire Pixar for $7.4 billion. Guidant accepted Boston Scientific''s higher offer of $27.2 billion. |
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Crude Oil Inventories Decline
Jan 25, 12:08 PM EST |
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| Crude inventories fell 2.3 million barrels the week ended Jan 20, gasoline stocks rose 3.2 million barrels. Existing home sales in Dec. fell 5.7%. |
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| Stocks advanced at opening as major companies generated optimism about earnings and merger deals. ConocoPhillips and Netflix posted sharply higher Q4 profits. Trucking company CNF posted 59% rise in Q4, but missed estimates. DST Systems reported lower net income, but in line with estimates. Ryland exceeded expectations, posting record-high results with 53% profit jump. CheckFree posted tripled Q2 profit, beating estimates. Rediff priced an offering of 3M American depositary shares. |
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ConocoPhillips Jumps
Jan 25, 9:35 AM EST |
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| Crude oil prices fell below $67 a barrel on mild weather and expectations of fuel inventories rise. European gold rose. The dollar gained vs. the yen. |
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| Asian markets closed higher, led by South Korean Kospi and Taiwan Weighted index, each rising 1.2%. The Nikkei finished flat, while Hong Kong was the only decliner with a loss of 0.07%. European averages gained ground with the U.K.''s FTSE 100 in the lead, rising 0.8%. In earnings news, Bristol-Myers posted higher Q4 profits, citing a lower tax rate. Colgate-Palmolive reported profit above estimates. Kerr-McGee''s Q4 profit jumped on rising energy prices and gains from asset sales. |
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Pixar and Disney in $7.4B Deal
Jan 24, 4:50 PM EST |
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| Computer Associates earnings nearly doubles but stock fell. Corning surprises with one-time charge of 24 cents. Netflix delivers earning,subs growth. |
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| Market traded in the positive zone for the most of the session as fresh batch of earnings from railroad, industrial and select tech companies met or exceeded earnings guidance.Late in the day Disney and Pixar released the details of the most awaited deal. Steve Jobs to become largest shareholder of Disney. Disney will issue 2.3 share for every Pixar stock and Disney will boost its stock buyback from 225 million to 400 million. |
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