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Market Update : 
Barnes Revenue Up 20%, EFunds Up 12%
Author: 123jump.com Staff
123jump.com
Last Update: 3:08 PM EDT May 09 2007


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Barnes Group, metal maker and distributor, revenue rose 20% and earnings rose to 50 cents per share from 36 cents a year ago. The company revised its annual earnings outlook. EFunds, electronic payment solution provider reported earnings of 22 cents but said that it has been approached by investment banks to explore strategic alternatives. Leap wireless earnings fell on higher customer acquisition cost but stock jumped 6%.

 
Alcatel-Lucent, supplier of telecommunications equipment, slid 0.9%. Infineon Technologies AG, Europe second-largest maker of semiconductors, slipped 0.4%.

Commodities

Crude oil traded little changed in New York, near $62 a barrel, after Chevron said four contractors were kidnapped in Nigeria, raising concern supplies from the largest producer in Africa would be disrupted. Crude oil for June delivery was trading at $62.16 a barrel, down 10 cents, in after-hours trading on the New York Mercantile Exchange. Gasoline for June delivery was up 0.12 cents at $2.2057 a gallon in after-hours trading in New York.

Gold for immediate delivery was little changed at $685.62 an ounce in early trade in London . Silver dropped 1 cent to $13.495 an ounce.

Currencies

The dollar was mixed against other major currencies in European trading Wednesday morning. The euro traded at $1.3542, down from $1.3545 late Tuesday in New York. The British pound traded at $1.9918, up from $1.9889. The dollar bought 119.93 Japanese yen, down from 119.95.
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