Friday, November 16, 2007
U.S. stocks close with weekly gains after volatile week
DJIA
13,176
+66.74
S&P
1,458
+7.59
NASDAQ
2,637
+18.73
10Yr
4.15%
-0.009
U.S. stocks close with weekly gains after volatile week
NEW YORK
U.S. stocks shifted gears yet again Friday to close with modest weekly
gains as an erratic market closed a roller coaster ride focused on the
credit crunch and its impact on the financial sector and the overall
economy.
The myth of the strong British pound
LONDON
Ed Yardeni, the prominent U.S. economist, made a trip to Britain
recently and was startled by the prices he saw.
The Fed: Fed's Kroszner: rates low enough to help with 'rough patch'
WASHINGTON
Interest rates are low enough to get the economy through a coming "rough
patch," said Federal Reserve Governor Randall Kroszner on Friday.
Starbucks shares scalded by lowered targets
NEW YORK
Starbucks Corp. shares fell Friday after the coffee-shop operator posted
a rise in quarterly profit but trimmed its fiscal-year forecast.
U.S. stocks down again after early bounce sputters
DJIA
13,122
+12.11
S&P
1,451
+0.16
NASDAQ
2,622
+3.57
10Yr
4.15%
-0.011
U.S. stocks down again after early bounce sputters
NEW YORK
U.S. stocks on Friday turned heels on an early rebound Friday after the
government reported U.S. industrial production declined 0.5% in October
and FedEx Corp. and Starbucks Corp. lowered their earnings forecasts,
capping an early advance.
The Fed: Fed's Kroszner: rates low enough to help with 'rough patch'
WASHINGTON
Interest rates are low enough to get the economy through a coming "rough
patch," said Federal Reserve Governor Randall Kroszner on Friday.
Starbucks shares scalded by lowered targets
NEW YORK
Starbucks Corp. shares sank as much as 9% early Friday after the
coffee-shop operator posted a rise in quarterly profit but trimmed its
fiscal-year forecast.
AMD gets $622 million investment from Middle East firm
SAN FRANCISCO
Advanced Micro Devices Inc. said Monday it has received a $622 million
Middle Eastern investment in a move that could help the loss-making
chipmaker handle rising costs.
Huntington to take $300 million hit on loan loss write-off
NEW YORK
Huntington Bancshares said Friday that it would take up to a $300
million charge in the fourth quarter, becoming the latest financial
institution to report the impact of mortgage loan losses.
Thursday, November 15, 2007
U.S. stocks close down amid worries about economy
DJIA
13,110
-120.96
S&P
1,451
-19.43
NASDAQ
2,618
-25.81
10Yr
4.16%
-0.110
NEW YORK
U.S. stocks intensified losses Thursday to close a third day of declines
this week as investors found dark spots in economic data and
credit-related anxieties lingered.
J.C. Penney's lower outlook adds to retail holiday jitters
NEW YORK
J.C. Penney Co. reported Thursday a 9.1% drop in third-quarter profit,
hurt by sweeping discounts to clear unsold merchandise. The
department-store operator cut forecasts for the fourth quarter and the
full year, citing macroeconomic concerns.
Amazon sell-off cleans out 'renters,' says broker
SAN FRANCISCO
Amazon.com has seen its market value take a cut of more than 20% since
its last earnings report, which analyst Scott Devitt believes has
cleaned out the "renters" who jumped into the stock as it surged towards
the $100 mark last month.
Bush says military will free up U.S.airspace to reduce congestion
WASHINGTON
In an effort to curb flight delays, President Bush said Thursday that
the U.S. military was making some restricted airspace along the East
Coast available to commercial carriers over the busy Thanksgiving travel
period.
Newsweek hires Karl Rove as contributor
CHICAGO
Newsweek magazine has hired Karl Rove, the former White House deputy
chief of staff, to contribute occasional opinion pieces to the print and
online versions of the publication.
U.S. stocks turn positive as market considers data
DJIA
13,223
-7.24
S&P
1,466
-4.22
NASDAQ
2,641
-3.17
10Yr
4.24%
-0.031
U.S. stocks turn positive as market considers data
NEW YORK
U.S. stocks on Thursday tentatively turned higher as investors weighed
early economic data, weak forecasts from Applied Materials Inc. and
retailer J.C. Penney Co., and more trouble in the credit markets.
Economic Report: Energy boosts consumer prices; CPI up 0.3%
WASHINGTON
Led by energy prices, U.S. inflation increased 0.3% for the second month
in a row in October.
Barclays to write down $2.7 billion on subprime hit
LONDON
Britain's Barclays on Thursday became the latest bank to disclose
write-downs from subprime lending and the related credit crunch, taking
a charge of 1.3 billion pounds ($2.7 billion), a far lower provision
that rumors in the markets had suggested.
J.C. Penney shares down 4% on lower profit, weaker forecast
NEW YORK
J.C. Penney Co. posted a 9.1% drop in third-quarter profit on Thursday,
hurt by sweeping discounts to clear unsold merchandise, and cut its
forecasts for the fourth quarter and the full year, citing macroeconomic
concerns.
Heineken and Carlsberg lift bid for Scottish & Newcastle
LONDON
Heineken and Carlsberg on Thursday increased their offer for Scottish &
Newcastle by 4% to 7.3 billion pounds ($15 billion) in a bid that is
still under the stock-market value of the U.K. brewer of Kronenbourg
1664, John Smiths and Newcastle Brown.
Markets November 15, 2007
DJIA
13,220
-10.33
S&P
1,465
-5.10
NASDAQ
2,638
-5.96
10Yr
4.23%
-0.044
Wednesday, November 14, 2007
NYSE Euronext CEO John Thain confirms in televised interview that he will head up Merrill Lynch.
NYSE Euronext CEO John Thain confirms in televised interview that he
will head up Merrill Lynch.
U.S. stocks close down after late-session selling
DJIA
13,223
-83.16
S&P
1,470
-10.47
NASDAQ
2,644
-29.33
10Yr
4.27%
+0.013
U.S. stocks close down after late-session selling
NEW YORK
U.S. stocks closed sharply lower Wednesday, with selling accelerating in
the final moments of trade, as investors mulled reduced odds of another
Federal Reserve interest-rate cut in light of positive economic data
that included benign wholesale inflation.
Delta Air CEO says not in merger talks with United Airlines
Delta Air Lines Inc.'s Chief Executive Officer Richard Anderson said
Wednesday the carrier is not talking to United Airlines about a merger,
throwing cold water on merger speculation that caused a brief spike in
both carriers' shares.
Financial Stocks: Bear Stearns, Lehman comments lift brokers
NEW YORK
U.S. brokerage stocks ended off the day's highs Wednesday, but still
posted gains as Bear Stearns Cos. said it will write down another $1.2
billion for bad mortgage assets on its books but that it has cleaned up
its balance sheet since a messy third-quarter earnings report.
Buffett urges Senate to oppose estate-tax repeal
WASHINGTON
Billionaire investor Warren Buffett urged senators Wednesday to reject
calls by the Bush administration and business groups to permanently
repeal the estate tax.
Stocks cling to tentative gains after data offers early boost
DJIA
13,303
-3.49
S&P
1,483
+2.14
NASDAQ
2,667
-6.49
10Yr
4.27%
+0.009
Stocks cling to tentative gains after data offers early boost
NEW YORK
U.S. stocks on Wednesday trimmed earlier gains that came after the
government reported as-expected retail sales and benign wholesale
inflation.
Economic Report: Wholesale prices up 0.1% in October, with core PPI
steady
WASHINGTON
Wholesale prices rose 0.1% in October as food prices rose and energy
prices fell, the government said Wednesday.
Economic Report: U.S. retail sales up 0.2% in October, outpacing 0.1%
forecast
WASHINGTON
U.S. consumers spent modestly heading toward the holiday season, as
retail sales growth slowed in October amid rising energy and gasoline
prices, the Commerce Department reported Wednesday.
HSBC to take $3.4 billion charge over U.S. loan losses
LONDON
HSBC Holdings on Wednesday said it would have to write off a further
$3.4 billion from its U.S. business during the third quarter, but said
profit before tax will increase because of strong growth from Asia and
the Middle East.
German economy accelerates on domestic demand
LONDON
The German economy accelerated in the third quarter, with Europe's
biggest economy relying on a domestic push to offset a surge in imports
that negated the country's traditional strength in engineering exports.
Tuesday, November 13, 2007
Dow closes with biggest single-day gain in eight weeks
DJIA
13,307
+319.54
S&P
1,481
+41.87
NASDAQ
2,673
+89.52
10Yr
4.26%
+0.045
TRADING CENTER
Dow closes with biggest single-day gain in eight weeks
NEW YORK
U.S. stocks surged higher Tuesday as beleaguered financial stocks
fronted a rally that sparked the Dow's biggest single-day jump in eight
weeks after Goldman Sachs' outlook helped appease market jitters about
the credit crisis.
E-Trade takeover talk spreads as shares rebound strongly
SAN FRANCISCO
A few months ago, David Fisher says he never would've dreamed that he'd
be fielding questions about whether he had any interest in making a bid
for industry heavyweight E-Trade Financial.
Futures Movers: Oil closes down 3.7% as IEA cuts world demand estimate
SAN FRANCISCO
Crude-oil futures dropped more than $3 on Tuesday to close at $91.17 a
barrel, the lowest level in nearly two weeks, after the International
Energy Agency cut its estimate of global oil demand and a survey showed
the Organization of Petroleum Exporting Countries increased crude
production in October.
Yahoo settles with jailed Chinese dissidents
SAN FRANCISCO
Yahoo Inc. on Tuesday settled a lawsuit filed against the Internet
company by Chinese dissidents who accused it of complicity in their
jailing, according to a court filing.
U.S. stocks rebound higher; Dow up more than 140 points
DJIA
13,159
+171.68
S&P
1,459
+19.93
NASDAQ
2,635
+51.51
10Yr
4.25%
+0.043
U.S. stocks rebound higher; Dow up more than 140 points
NEW YORK
U.S. stocks rose Tuesday for the first time in five days as investors
cheered surprisingly good results from Wal-Mart Stores Inc., which could
bode well for the all-important holiday shopping season.
Wal-Mart's upside earnings surprise boosts holiday outlook
NEW YORK
Giving an encouraging sign about the holiday season, No. 1 retailer
Wal-Mart Stores Inc. on Tuesday said third-quarter profit rose 7.9% and
raised its full year outlook heading into the holidays, its biggest
selling period.
Tech Stocks: Apple, VMware lead tech rally; Adobe down on CEO change
SAN FRANCISCO
Technology stocks made a strong rebound in early trading Tuesday as
Apple Inc. and VMware Inc. shares paced a broad rally across the
sector.
Goldman CEO sees no big write-down as firm shorts mortgages
NEW YORK
Goldman Sachs maintains a short position in the subprime mortgage market
and will not be taking any significant charges to write off losses on
its position. Chief Executive Lloyd Blankfein said Tuesday.
IEA cuts oil demand view, says high prices sapping demand
LONDON
The International Energy Agency on Tuesday cut its estimate of world oil
demand for this year and next, saying there are signs that oil prices
close to $100 a barrel are depressing demand.
Monday, November 12, 2007
U.S. stocks end lower as Dow lands 175 points off day's highs
DJIA
12,987
-55.19
S&P
1,439
-14.52
NASDAQ
2,584
-43.81
10Yr
4.21%
-0.014
U.S. stocks end lower as Dow lands 175 points off day's highs
NEW YORK
U.S. stocks on Monday extended the prior week's steep losses, with the
Dow Jones Industrial Average closing below the 13,000-mark for the first
time in nearly three months, as credit-related worries persisted.
Investor assets in E-Trade accounts said to be safe
NEW YORK
As investors shaved more than half the value from E-Trade Financial
Corp. shares Monday, financial advisers, regulators and the company said
that account holders have several layers of protection, and in general
do not have to fear that the current problems will cause customers
losses.
Capitol Report: Ethanol, once the cure-all to oil problems, facing more
heat
NEW YORK
The oil-substitute superstar of 2005 has increasingly become the
alternative energy whipping boy of 2007.
IPO-related charges hurt Blackstone's bottom line
WASHINGTON
Shares of Blackstone Group L.P. traded as much as 11% lower Monday, as
investors reacted negatively to the private-equity powerhouse reporting
a third-quarter loss.
Symantec reducing staff as cost cuts continue
SAN FRANCISCO
Symantec Corp. is laying off a number of employees this week, the
security software company confirmed Monday. The staff cuts, however, are
not related to a broader restructuring plan announced earlier this year,
the company said.
U.S. stocks shake off losses amid bargain-hunting
DJIA
13,112
+70.07
S&P
1,459
+6.20
NASDAQ
2,630
+2.06
10Yr
4.21%
-0.014
U.S. stocks shake off losses amid bargain-hunting
NEW YORK
Stocks on Monday returned to positive turf after a shaky start as
investors sought bargains in the wake of last week's sell-off, which
coincided with the dollar's decline and ongoing worries about the credit
crunch and its impact on the U.S. economy.
E-Trade's shares cut nearly in half after warning, sell rating
NEW YORK
Shares of E-Trade Financial Corp. lost more than half their value Monday
after the company said it faced more subprime-related write-downs and as
one analyst suggested the firm might have to file for bankruptcy
protection.
Airbus nabs $50 bln in orders, trouncing Boeing, at Dubai show
LONDON
European airplane maker Airbus has scored a major victory over U.S.
rival Boeing Co. with a series of major orders, worth close to $50
billion at list prices, from Middle Eastern carriers at the Dubai
Aerospace Air Show.
IPO-related charges hurt Blackstone's bottom line
WASHINGTON Shares of Blackstone Group L.P. traded as much as 11% lower
Monday, as investors reacted negatively to the private-equity powerhouse
reporting a third-quarter loss.
IBM to pay $5 billion for Canadian software company Cognos
WASHINGTON
International Business Machines Corp. on Monday said it will acquire
business-software developer Cognos Inc. for $5 billion in cash, a move
aimed at keeping up with rivals in the increasingly attractive field of
business intelligence.
Gold futures down nearly $30 an ounce as U.S. dollar strengthens
BULLETIN
Gold futures down nearly $30 an ounce as U.S. dollar strengthens
