Established 1999
123jump.com - U.S. Financial Information Archive: 90,000 Annual and 10-K reports – 20,000 Global news stories - 3,500 IPO reports - 1,700 - Earnings Calls – 320 Fund Interviews – 10-year Annual earnings on 4,500 stocks – 20 Quarterly earnings on 3,600 stocks – 1,800 IPO prospectuses – 1,200 Economic data releases
     
   
 
Market Update : 
GM Hits a New Low
Author: 123jump.com Staff
123jump.com
Last Update: 9:14 PM EST December 20 2005

(Continued)

Email article | Print article

Better than expected decline at wholesale level inflation and stable housing construction report failed to excite the market. November PPI drops 0.7% and core PPI rose only 0.1%. Reflecting healthy construction market single family housing starts for November show robust gains. Nike and Morgan Stanley deliver strong earnings. General Motors shares drops below $20 for the first time since 1987.

 
The U.S. dollar climbed against its major counterparts in European trading. The euro fell to $1.1883 from $1.2010. The dollar bought 116.82 yen, up from 115.97. The British pound traded at $1.7602, down from $1.7628.

EARNINGS NEWS

Morgan Stanley (MWD: chart), brokerage services company, reported Q4 net income of $1.68 a share, up 49% from $1.09 a share in the year-earlier period on 28% revenue growth, topping analyst estimate of $1.08 a share.

Progress Software Corp (PGRS: chart), software company, reported Q4 net income of 33 cents a share, up from 28 cents a share in the year-earlier period on 12% revenue growth, missing analyst estimate of 37 cents a share. Pro forma earnings were 38 cents a share. The company announced it would pay $68 million to buy Neon Systems.

Park Electrochemical Corp. (PKE: chart), printed circuit boards manufacturer, reported Q3 earnings per share before special items of.41 cents, up from 21 cents in the same period last year. The company topped analysts’ expectations of 34 cents per share. Earnings per share were 48 cents up from 38 cents per share for the comparable period.

FactSet Research Systems (FDS: chart), provider of financial and economic data, reported Q1 earnings of 38 cents a share, up from 33 cents a share in the year-ago period. On a non-GAAP basis, the company earned 38 cents a share. Revenue advanced 21.1%. The company beat the analysts’ estimates for earnings of 35 cents a share.

Park Electrochemical Corp.], (PKE: chart), printed circuit boards manufacturer, reported Q3 earnings per share before special items of.41 cents, up from 21 cents in the same period last year The company topped analysts’ expectations of 34 cents per share. Earnings per share were 48 cents up from 38 cents per share for the comparable period.
  1  2 More: Market Update Archive

 
 
© 1999-2008 123jump.com. All rights reserved