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 : 
U.S. Stocks Trend Lower on Weak Techs
Author: 123jump.com Staff
123jump.com
Last Update: 3:27 PM EDT May 07 2008


(Continued)

Email article | Print article

U.S. stocks turned negative after the release of weekly crude oil inventory report and index of pending home sales. The crude oil inventories were slightly lower but the inventories of gasoline and distillate were unchanged at the end of the last week. An index of pending home sales in March fell on difficult lending conditions.

 
Foster Wheeler (FWLT: chart) stock gained $1.24 to $67.64.

Marsh & McLennan Companies, Inc, insurance and risk manager reported first quarter revenues rose 8% to $3 billion from $2.8 billion a year ago. Net loss in the quarter declined to $210 million or 40 cents per diluted share compared to net income of $268 million or 47 cents per share, a year ago.

Marsh & McLennan (MMC: chart) stock rose 77 cents to $28.35.

Transocean Inc, an offshore contract driller reported first quarter revenues rose 138% to $3.1 billion from $1.3 billion a year ago. Net income in the quarter of $1.1 billion or $3.71 per diluted share compared to net income of $553 million or $2.62 per share, a year ago. Transocean, largest offshore drilling contractor reported revenue jumped 138% on day rates across the fleet rose 15%. Ultra deepwater floater day rate jumped 25% to $380,000.

Transocean (RIG: chart) stock rose 50 cents to $158.35.

Cognizant Technology Solutions Corporation, a provider of information outsourcing services reported first quarter revenues rose 40% to $643.1 million from $460.3 million a year ago. Net income in the quarter was $101.9 million or 34 cents per diluted share compared to net income of $75.4 million or 25 cents per share, a year ago.

Cognizant (CTSH: chart) stock fell $3.27 to $30.46.

Asian markets review

In Tokyo Nikkei 225 Index closed higher 53.22 or 0.38% to 14,102.48, in Hong Kong Hang Seng index decreased 651.92 or 2.48% closed to 25,610.21. In Australia ASX 200 index lower 33.00 or 0.58% to close 5,668.40. In Malaysia KL Composite index increased 11.06 or 0.87% closed to 1,287.15.

In South Korea Kospi Index decreased 5.05 or 0.27% to close at 1,854.01, in Thailand SET index closed higher 2.88 or 0.34% to 848.71 and Indonesia JSE Index edged increased 10.87 or 0.46% to 2,382.70. Sensex index in India decreased 33.70 or 0.19% to 17,339.31.
  1  2 More: Market Update Archive

 



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