Friday, September 28, 2007
U.S. stock indexes end with daily losses, monthly gains
DJIA
13,895
-17.31
S&P
1,526
-4.63
NASDAQ
2,701
-8.09
10Yr
4.58%
+0.006
U.S. stock indexes end with daily losses, monthly gains
NEW YORK
U.S. stocks on Friday closed mildly lower, but with the major indexes
netting monthly, quarterly and year-to-date gains, after a slew of
economic data fell largely in line with expectations and investors
looking for clues as to whether the Federal Reserve would cut interest
rates again next month.
3Com to be sold to Bain, Huawei in $2.2 billion deal
WASHINGTON
3Com Corp. said Friday it's agreed to sell itself for $2.2 billion to
Bain Capital Partners LLC and Huawei Technologies Co., the largest
networking company in China.
Alcatel-Lucent CEO Russo under pressure to deliver
LONDON
Alcatel-Lucent Chief Executive Patricia Russo has been given a month to
devise an emergency restructuring plan for the board after the
telecommunications-equipment giant issued its third profit warning under
her leadership earlier this month, according to a media report.
Third quarter ends with a thud; Dow and other major gauges end slightly down after a strong week for Wall Street.
Third quarter ends with a thud; Dow and other major gauges end slightly
down after a strong week for Wall Street.
Personal income up less than expected in August; spending up more than forecast, Dow Jones reports.
Personal income up less than expected in August; spending up more than
forecast, Dow Jones reports.
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Dollar plunges on tame inflation data, hits fresh low vs. euro
DJIA
13,896
-16.83
S&P
1,527
-4.05
NASDAQ
2,702
-6.81
10Yr
4.54%
-0.036
Dollar plunges on tame inflation data, hits fresh low vs. euro
SAN FRANCISCO
The dollar dropped across the board Friday, marking the seventh straight
trading session in which it's sunk to a record low against the euro,
after tame core inflation data suggested that the Federal Reserve could
further cut interest rates.
Market Snapshot: U.S. stocks lower, with investors poised to listen to
Fed talk
NEW YORK
U.S. stocks were lower Friday with a slew of economic data falling
largely in line with expectations and investors looking to Federal
Reserve speakers for clues as to whether central bankers would cut
interest rates again when they next meet.
3Com to be sold to Bain, Huawei in $2.2 billion deal
WASHINGTON
3Com Corp. said Friday it's agreed to sell itself for $2.2 billion to
Bain Capital Partners LLC and Huawei Technologies Co., the largest
networking company in China.
Apple, Qualcomm, Oracle shift lawyers
SAN FRANCISCO
Friday morning saw a game of musical chairs among the top lawyer jobs at
Apple Inc. and Qualcomm Inc. -- each of which have had a colorful legal
record of late.
The Fed: Housing-market bottom 'a ways off': Fed's Lockhart
WASHINGTON
The bottom of the housing market may not be reached until the second
half of 2008 or later, according to Dennis Lockhart, the new president
of the Atlanta Federal Reserve Bank.
Thursday, September 27, 2007
U.S. stocks close higher on diminished recession fears
DJIA
13,912
+34.79
S&P
1,531
+5.96
NASDAQ
2,709
+10.56
10Yr
4.57%
-0.047
U.S. stocks close higher on diminished recession fears
NEW YORK
U.S. stocks advanced on Thursday after a government report cast positive
light on the labor market and helped offset recessionary worries.
AMR investor pushes spin-off of frequent-flier program
SAN FRANCISCO
AMR Corp. should spin off its frequent-flier program as a means of
helping boost the American Airlines parent's downtrodden stock price, an
Icelandic investor group that owns over 9% of the company said
Thursday.
Jennifer Openshaw: The 15-minute tip: The math on compact fluorescent
bulbs
NEW YORK
By now you've seen -- and probably tried -- the so-called compact
fluorescent bulbs designed to replace the 100-year old incandescent
technology. But how do you apply "Millionaire Zone" logic to the
conversion decision?
Palm shares jump as new Centro smart phone debuts
SAN FRANCISCO
After being bruised in the heavily competitive smart-phone market, Palm
Inc. unveiled a new device Thursday that the company hopes will appeal
to a broader base of cell phone buyers.
New-home sales plunge 8.3% to seven-year low
DJIA
13,886
+8.70
S&P
1,527
+2.08
NASDAQ
2,705
+6.23
10Yr
4.60%
-0.018
New-home sales plunge 8.3% to seven-year low
WASHINGTON
Sales of new homes dropped 8.3% in August to a seasonally adjusted
annual rate of 795,000, the slowest sales pace since June 2000, the
Commerce Department estimated Thursday.
Market Snapshot: U.S. stocks prune advance as new home sales disappoint
NEW YORK
U.S. stocks on Thursday clipped their gains after housing sales data
proved even worse than anticipated, countering earlier data that shed a
positive light on the labor market, offsetting recessionary worries.
Economic Report: GDP revised down to 3.8% in second quarter
WASHINGTON
U.S. economic growth accelerated in the second quarter to the fastest
pace in more than a year, the Commerce Department reported Thursday in
its final estimate measuring gross domestic product for the
April-through-June interval.
Economic Report: Jobless claims fall to lowest level since May
WASHINGTON
First-time applications for unemployment benefits fell by 15,000 in the
latest week to 298,000, the lowest since the week ended May 12, the
Labor Department said Thursday.
KB Home posts loss and sees housing worsening into 2008
BOSTON
KB Home swung to a third-quarter loss as the builder took a big
land-related charge and sees housing market conditions continuing to
deteriorate into 2008, financial results showed Thursday.
Wednesday, September 26, 2007
Bear jumps on report bank is in talks to sell minority stake
DJIA
13,878
+99.50
S&P
1,525
+8.21
NASDAQ
2,699
+15.58
10Yr
4.62%
+0.006
Bear jumps on report bank is in talks to sell minority stake
SAN FRANCISCO
Bear Stearns Cos. shares jumped almost 8% on Wednesday after the New
York Times reported that the investment bank is in talks to sell a
minority stake to investors including Warren Buffett.
Deal for Sallie Mae threatened, but company pursues closure
WASHINGTON
The group of investors that agreed to buy SLM Corp. has said that it
can't close the deal under the agreed-upon terms, the giant student
lender announced Wednesday.
Merrill Lynch's profit seen sharply lower over credit losses
BOSTON
Analysts at Goldman Sachs cut their earnings forecasts for Merrill Lynch
on Wednesday, citing expected losses stemming from the turmoil in the
credit markets.
Chevron Corp. to buy back up to $15 billion in stock
NEW YORK
Chevron Corp. on Wednesday announced plans to buy back up to $15 billion
in stock as the energy giant moved to return to shareholders some of its
windfall from higher oil prices.
GM shares rise as much as 10% on settlement with union
SAN FRANCISCO
General Motors Corp. shares jumped as much as 10.7% on Wednesday after
the Detroit automaker hammered out a deal with the United Auto Workers,
marking an end to a two-day strike and allowing production to resume.
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GM-UAW deal pushes U.S. stocks higher
11:50 am ET
DJIA
13,859
+81.13
S&P
1,526
+9.63
NASDAQ
2,706
+23.17
10Yr
4.66%
+0.042
GM-UAW deal pushes U.S. stocks higher
NEW YORK
U.S. stocks climbed higher Wednesday, with the early gains tied largely
to a tentative deal ending a two-day United Auto Workers strike against
General Motors Corp. that could set the stage for other automakers to
cut health-care costs.
Economic Report: Capital spending softens as durable-goods orders fall
4.9%
WASHINGTON
Businesses reduced their orders for capital equipment from U.S.
factories in August, another sign that capital spending and exports may
not be strong enough to offset weakness in other areas of the economy.
GM shares rise as much as 7% on settlement with union
SAN FRANCISCO
General Motors Corp. shares jumped as much as 7.4% early Wednesday after
the Detroit automaker hammered out a deal with the United Auto Workers,
marking an end to a two-day strike and allowing production to resume.
Chevron Corp. to buy back $15 bln in stock
NEW YORK
Chevron Corp. on Wednesday set plans to buy back up to $15 billion in
stock as the oil giant moved to return to shareholders some of its
windfall from higher oil prices.
Northern Rock shares jump 13% after approaches received
LONDON
Shares of Northern Rock jumped as much as 13% Wednesday, rallying as the
company said it has received preliminary approaches from a number of
interested parties about a prospective transaction involving the
troubled U.K. mortgage lender.
Durable goods orders weaker than expected in August, Dow Jones reports.
Durable goods orders weaker than expected in August, Dow Jones reports.
Oil prices retreat on surprise increases in inventories.
Oil prices retreat on surprise increases in inventories.
Tuesday, September 25, 2007
U.S. stocks finish mixed to higher; tech stocks gain
DJIA
13,778
+19.59
S&P
1,517
-0.52
NASDAQ
2,683
+15.50
10Yr
4.61%
-0.010
U.S. stocks finish mixed to higher; tech stocks gain
NEW YORK
U.S. stocks finished mixed to higher Tuesday with the Nasdaq leading
tech-fueled gains, but with some weakness seen in the broad market after
reduced sales forecasts from two major retailers and
better-than-expected existing home sales for August.
Economic Report: Glut of unsold homes rises to 18-year high even as
prices fall
WASHINGTON
In a sign that the housing slump is far from over, home resales slipped
for the sixth month in a row in August as the credit squeeze forced many
sales to fall through, the National Association of Realtors reported
Tuesday.
Lowe's to continue expansion despite weaker housing market
NEW YORK
Lowe's Cos. is keeping its expansion plans on track, with a focus on
opening new stores in cities and surrounding areas as it struggles with
the weak housing market and cautious consumers.
Target cuts sales forecast; analysts prune estimates
NEW YORK
Target Corp. slashed its forecast for September sales at stores open
more than a year, citing weaker-than-expected traffic, prompting some
analysts to trim forecasts for the discount retailer.
Low-cost carriers add lounges, leather seats to woo high fliers
LONDON
Lounges, leather seats, extra leg room, speedy boarding and
frequent-flyer miles: new-style, low-cost airlines aren't skimping on
the extras in their effort to woo high fliers.
Existing home sales at lowest level in 5 years, consumer confidence at lowest level in nearly 2 years, AP reports.
Existing home sales at lowest level in 5 years, consumer confidence at
lowest level in nearly 2 years, AP reports.
Monday, September 24, 2007
U.S. stocks close lower as Fed-fueled rally ends
DJIA
13,759
-61.13
S&P
1,517
-8.02
NASDAQ
2,667
-3.27
10Yr
4.62%
-0.008
U.S. stocks close lower as Fed-fueled rally ends
NEW YORK
U.S. stocks fell on Monday, save for pockets of strength among
technology shares, as investors consolidated strong gains seen last week
after the Federal Reserve's hefty rate cut.
Strike shuts down GM as labor talks grind on
SAN FRANCISCO
United Auto Workers walked off their jobs Monday at General Motors Corp.
after more than a week of intense negotiations failed to produce a new
labor contract.
Housing market may face more bad news in data, builder earnings
BOSTON
The housing market will again be in focus this week as investors brace
for expected reports on August new- and existing-home sales, while two
of the nation's largest home builders are slated to report financial
results that will likely include quarterly losses and write-downs.
BHP gains on optimism over potential for big gold discovery
LONDON
Shares of BHP Billiton climbed to a record high in Sydney on Monday and
traded strongly in London on a report that the mining giant was expected
to announce what's the potentially largest gold resource in the world at
its Olympic Dam mine in South Australia.
Markets Monday, 09/24/2007
| Dow : 13759.06 down 61.13
| S & P : 1517.73 down 8.02
| NASDAQ: 2667.95 down 3.27
| Bond (10Y): 4.63%, 100.91
MARKETS:
After the rally, a retreat
Stocks slide as investors take a breather after last week's big
Fed-inspired rally; GM and AMR in focus.
Stocks close slightly lower as investors struggle to remain positive after last week's big Fed-inspired rally.
Stocks close slightly lower as investors struggle to remain positive
after last week's big Fed-inspired rally.
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Breaking News: UAW workers strike at GM plants
DETROIT - Workers began picketing Monday outside some General Motors
plants after the 11 a.m. United Auto Workers strike deadline passed.
UAW sets 11 a.m. ET strike deadline at GM for its 73,000 members; contract talks continue.
UAW sets 11 a.m. ET strike deadline at GM for its 73,000 members;
contract talks continue.
U.S. stocks most higher in extending best rise since March
DJIA
13,855
+35.77
S&P
1,527
+1.56
NASDAQ
2,686
+15.32
10Yr
4.64%
+0.006
U.S. stocks most higher in extending best rise since March
NEW YORK
U.S. stocks pulled higher Monday, as investors remained upbeat about the
Federal Reserve's surprise half-percentage point interest-rate cut last
week that helped propel Wall Street's biggest rise since March.
BHP gains on optimism over potential for big gold discovery
LONDON
Shares of BHP Billiton climbed to a record high in Sydney on Monday and
traded strongly in London on a report that the mining giant was expected
to announce what's the potentially largest gold resource in the world at
its Olympic Dam mine in South Australia.
Credit crunch to slow, not stop, global growth: IMF report
WASHINGTON
The financial markets' turmoil and the credit crunch will likely slow
the global economic expansion but won't be sufficient to bring it to a
halt, the International Monetary Fund said in a report released Monday.
Japan's Fukuda is set to become next prime minister
TEL AVIV Yasuo Fukuda, a moderate on international affairs, won the
leadership of Japan's ruling Liberal Democratic Party, positioning him
to become the country's next prime minister, according to media
reports.
