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Whirlpool and Maytag Merge
Aug 22, 2:50 PM ET |
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| J. M. Smucker 1Q earnings disappoint, Heinz beats views, Oil dropped from the day’s high of close to $66. Copper is up 2.5 cents. |
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| Maytag finally agreed to merge with Whirlpool but at a significantly higher price of $21 per share compared to the first bid received at $14 per share from Triton. Triton is not crying, for less than three months of work and simply for offering to buy Maytag it got break up fee of $40 million. |
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Semis and Oil Lead
Aug 22, 12:43 AM ET |
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| J. M. Smucker 1Q earnings disappoint, Heinz beats views, Oil advances toward $66 on concerns of possible supply disruptions in the Middle East. |
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| Mergers and acquisitions news is driving the market higher, as there are no economic reports scheduled for today. CP Ships, PetroKazakhstan and SBS Broadcasting have each climbed to new 52-week highs on M&A news. Emmis Communications has also reached a new peak on the news that the company has agreed to sell 9 TV stations. |
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Opening Weakens on Oil
Aug 22, 11:23 AM ET |
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| J. M. Smucker 1Q earnings disappoint, Heinz beats views, oil advances toward $66 on concerns of possible supply disruptions in the Middle East. |
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| Market breadth was positive at the opening though oil prices varied. With only a few earnings reports due to be released and no economic news on the calendar, fresh merger and acquisition activity is in the spotlight Monday. CNPC Intl. said it has agreed to buy PetroKazakhstan for $4.18 billion. SBS Broadcasting agreed to be acquired for $2.6 billion by two private equity companies. |
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Market to Rise on Deals
Aug 22, 8:36 AM ET |
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| Tokyo index hit a 4-year high, Europe also higher, dollar fell vs. yen, euro, oil above $65, J. M. Smucker 1Q earnings disappoint, Heinz beats views. |
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| With only a few earnings reports due to be released and no economic news on the calendar, fresh merger and acquisition activity is in the spotlight Monday. CNPC Intl. said it has agreed to buy PetroKazakhstan for $4.18 billion. SBS Broadcasting agreed to be acquired for $2.6 billion by two private equity companies. Germany's TUI AG has reached a deal to buy CP Ships Ltd. in a $2 billion deal to create the world's No.5 container shipping company. |
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Dollar to Climb
Aug 21, 2:54 PM ET |
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| The U.S. dollar has gained 12% against euro this year and may sustain its advance in the coming weeks. Oil prices will be watched closely by trades. |
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| Despite rising oil prices, the U.S. economy has delivered positive news on labor, housing and GDP front. However trade and budget deficits are another stories. In the coming week market will be watching oil, dollar and earnings from BHP, Heinz, Toro, Petsmart, Intuit, and home builder Toll Bros. |
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Rally Fades in Rising Oil
Aug 19, 4:14 PM ET |
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| Oil rebounds close to 4% for the day, 5% for the week and 58% for the year. Market fought the rising oil all day and gained barely to stay positive. |
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| Texas Jury awards $230 million in punitive damages in Voixx trial, dragging down Merck and other pharmaceutical stocks with it. Retailers cautious outlook contniued as Ann Taylor and Gap released earnings. Asian and European markets closed lower. Gold and Platinum were trading lower. Autodesk deliver stellar earning growth. |
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Large Caps Lead the Averages
Aug 19, 12:46 AM ET |
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| U.S. markets are trading higher in the morning session on the back of the giant companies Coca Cola and IBM which spike on analyst upgrade. |
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| Light sweet crude bounced back to $64.40 rising $1.13 on refinery fire in Venezuela, Ecuador Protests and Iran’s nuclear ambitions. Oil has been volatile throughout the week falling almost $3 Wednesday and trading at $63.27 a barrel Thursday session. On Aug 12 oil hit an all-time peak of $67.10. Year to date crude-oil has risen 55.69%. |
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Modest Opening
Aug 19, 10:26 AM ET |
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| U.S. markets are trading higher after a nervous Thursday trading session, the dollar is on a 2-month rise against the euro, up 2.2%, oil rose $1. |
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| Ann Taylor reported a sharp 2Q earnings decline with same-store sales down 6.1%, Gap posted 39% profit jump but lowered full-year earnings outlook. |
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Market Lacks Direction
Aug 18, 6:01 PM ET |
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| Oil bounced back close to a dollar from the day's low, bond market rebounded from yesterday's sell-off. |
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| Directionless market meandered for the entire session and in the end closed at flat level. The rebound of oil prices, more warnings from retailers, and dollar strength in Europe was all that market had to digest. Apparel retailer, Limited delivered yet another quarter of disappointment. JDS Uniphase delayed earnings filing for the quarter. |
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Market Lacks Vigor
Aug 18, 12:56 AM ET |
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| U.S. averages trade lower on renewed oil rise and disappointing jobless claims numbers. The dollar climbs. Salesforce, Medtronic report. |
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| The index of leading indicators increased slightly in July as the Conference Board reported, following a sharp increase in June, which keeps it on a slightly rising trend. Google plans a new share offer. |
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