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Market Update : 
Disappointing Q4 Outlooks
Author: Elena Todorova
123jump.com
Last Update: 9:35 AM EDT October 25 2005


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Asian-Pacific markets closed largely higher on Wall Street gains and the new Fed Reserve Chairman nomination of Ben Bernanke. The Nikkei surged 1.3%. European stock markets also advanced at mid-day, led by the German DAX 30, up 0.4%. On the earnings news front, semiconductor Texas Instruments posted a disappointing fourth-quarter outlook. Chemical maker DuPont Corp. reported a third-quarter loss, citing tax and hurricane-related charges. Lockheed Marin released Q3 39% net income jump.

 
Ameritrade Holding Corp. (AMTD: chart), securities brokerage services firm, announced its Q4 net income jumped to 23 cents a share, up from 14 cents a share a year ago on revenue growth, beating analyst estimate by a penny. Average client trades per day amounted to 146,000. The company stated it is in discussions with the SEC concerning """"""""accounting for and disclosure of its prepaid variable forward contracts with respect to its investment in approximately 7.9 million shares of Knight Capital Group, Inc.

Coventry Health Care Inc. (CVH: chart), care products and services provider, posted Q3 earnings of 81 cents a share, up from 64 cents per share in the year-ago period on revenue growth, in line with analyst estimate for a profit of 81 cents a share.. The company stated that, as of Sept. 30, its total health plan membership stood at 2.51 million, a rise of 61,000 members over the year-ago period.
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