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Market Update : 
Lowe's Tops Views
Author: Elena Todorova
123jump.com
Last Update: 9:32 AM EST February 27 2006


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Asian markets broadly rallied on continuing strong fund flows. The Nikkei rose 0.5%, South Korean Kospi climbed 0.6%, and India stock Exchange sensitive index gained 0.7%. European stocks traded positive at mid-day, supported by overtake news in the utility sector. In deal news, National Grid announced it agreed to acquire KeySpan for $7.3 billion, or $42 per share to create the third-largest energy delivery utility in the U.S. Lowe''''s Cos posted Q4 profit rise above estimates.

 
American Financial Realty Trust, (AFR: chart), real estate investment trust, reported that its Q4 net loss was down to $21 million, or 17 cents a share, from $6.3 million in the year-ago period despite 22.7% revenue growth. The company announced a loss of 20 cents a share from continuing operations and funds from operations at 17.5 cents a share in Q4, compared to 27.1 cents a share in the same period of 2004.

Harvest Natural Resources Inc, (HNR: chart), oil and gas company, reported Q4 net earnings of 27 cents a share, down from 39 cents in the same time the prior year period on a decline quarterly, reflecting lower oil and natural-gas production, but in line with analyst predictions. The company also said it is expecting average oil deliveries of about 21,000 barrels a day for Q1, down from the pace of 22,000 barrels a day at the end of 2005.
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