Friday, April 18, 2008
Markets Friday, 04/18/2008
| Dow : 12849.36 up 228.87
| S & P : 1390.33 up 24.77
| NASDAQ: 2402.97 up 61.14
| Bond (10Y): 3.71%, 98.25
MARKETS:
Stocks end the day and week higher
Wall Street rallies on improved earnings from Google, Caterpillar and
others raise hopes that corporate profits outside the financial sector
are holding up.
U.S. stocks zoom on Citigroup, Google earnings results
U.S. stocks zoom on Citigroup, Google earnings results
U.S. stocks rally, putting the market on track for strong weekly gains,
as investors cheer Citigroup write-downs and Google earnings.
Citigroup posts big loss on some $12 billion in write-downs
Citigroup posts a $5.1 billion loss for the first quarter as a result of
writing down about $12 billion in soured mortgage investments and other
credit-related items.
Google gets big lift as market cheers report
Google Inc. shares surge 20% a day after the Internet-search company
posts a 31% jump in first-quarter profit and dispels many concerns about
growth in its advertising business.
Emerging Markets Report: Plan to revitalize
Mexico's oil industry faces clock, protests
Heated debate among Mexico's lawmakers about whether to open the door
to foreign oil companies has stalled legislation aimed at reviving the
flagging fortunes of state-run Petroleos de Mexico, the world's
third-largest oil producer.
Caterpillar net climbs 13% despite weakness in N. America
Caterpillar Inc. says strong demand outside North America powered the
bulldozer giant to a 13% jump in quarterly profit Friday, adding to
bullish sentiment in the broad market.
Stocks buoyed by strong results from Google and Caterpillar. Dow surges more than 230 points.
Stocks buoyed by strong results from Google and Caterpillar. Dow surges
more than 230 points.
U.S. stocks zoom on Citigroup, Google results
U.S. stocks zoom on Citigroup, Google results
U.S. stocks rally at the open as investors cheer the fact that Citigroup
Inc.'s writedowns were not as bad as feared, along with
stronger-than-expected results from Internet-search giant Google Inc.
Citigroup posts sizable loss on some $12 billion in write-downs
Citigroup posts a $5.1 billion loss for the first quarter as a result of
writing down about $12 billion in soured mortgage investments and other
credit-related items.
Google gets big lift as market cheers report
Google Inc. shares surge as much as 18% Friday, one day after the
Internet-search company posted a 31% jump in first-quarter profit and
dispelled many concerns about growth in its advertising business.
Caterpillar net climbs 13% despite weakness in N. America
Caterpillar Inc. says strong demand outside North America powered the
bulldozer giant to a 13% jump in quarterly profit Friday, adding to
bullish sentiment in the broad market.
France Telecom confirms interest in TeliaSonera
France Telecom SA confirms its interest in Nordic operator TeliaSonera
AB, but said it has yet to make a decision or start takeover talks.
Stocks surge at the open with tech leading the way. Citigroup says it will cut 9,000 jobs after poor earnings report.
Stocks surge at the open with tech leading the way. Citigroup says it
will cut 9,000 jobs after poor earnings report.
Citigroup posts $5.1 billion quarterly net loss that is worse than expected as it takes hefty writedowns.
Citigroup posts $5.1 billion quarterly net loss that is worse than
expected as it takes hefty writedowns.
Thursday, April 17, 2008
Market Briefing Newsletter for Thursday, 04/17/2008
| Dow : 12620.49 up 1.22
| S & P : 1365.56 up 0.85
| NASDAQ: 2341.83 down 8.28
| Bond (10Y): 3.73%, 98.09
MARKETS:
Stocks stage comeback
Wall Street erases bigger losses to end mixed in a mostly weaker session
influenced by Merrill Lynch's loss, Nokia's dour outlook and a big drop
in a key manufacturing survey.
Google beats estimates amid worry over 'paid clicks'
Google beats estimates amid worry over 'paid clicks'
Google Inc. reports its fiscal first-quarter profit rose 31%, despite
concerns about growth in the Internet company's core search advertising
business.
Market Snapshot: U.S. stocks end mixed, little changed ahead of Google
U.S. stocks finish mixed with technology shares off slightly ahead of
earnings from Internet giant Google, while the broader market overcame
losses at Merrill Lynch to end slightly higher.
Futures Movers: Oil futures retreat after hitting record high of
$115.54
SAN FRANCISCO
Crude-oil futures close slightly lower, pulling back after touching a
record atop the $115-a-barrel mark, as firmness in the U.S. dollar put
pressure on oil prices.
MarketWatch First Take: Is Continental courting disaster?
SAN FRANCISO
Continental Airlines CEO Larry Kellner told the world Thursday, in no
uncertain terms, that he needs to join forces with another airline to
fend off the competitive threat posed by a combined Delta-Northwest
behemoth.
Google reports sales and profit that top Wall Street's expectations; stock surges 10% after hours.
Google reports sales and profit that top Wall Street's expectations;
stock surges 10% after hours.
U.S. stocks fall after mixed earnings, data
U.S. stocks fall after mixed earnings, data
U.S. stocks slip as a mixed batch of earnings from the likes of Merrill
Lynch, International Business Machines, and Pfizer fail to inspire the
market.
The Fed: Kohn sees major weaknesses in financial system
WASHINGTON
The ongoing turmoil in financial markets has "revealed major weaknesses"
in the U.S. financial system that need urgent attention from the private
sector and regulators, Federal Reserve Vice-Chairman Donald Kohn said
Thursday.
Economic Report: Philly factory gauge falls to 7-year low
Factories in the Philadelphia region report weaker conditions in early
April, as the Philly Fed index remains negative for the fifth straight
month.
Merrill still exposed despite big first-quarter write-downs
"De-leveraging by its nature takes a lot of time, a lot of pain,"
Berkshire Hathaway Chairman Warren Buffett said in a recent Fortune
interview. For Merrill Lynch that statement is too true.
EBay shares fall as auctions business still shows weakness
EBay sees its shares slip after reporting better-than-expected results
for the first quarter but indicating that its core business is still
relatively weak.
Stocks fall as investors react to dismal Merrill Lynch earnings and a weak job market despite strong results from tech companies.
Stocks fall as investors react to dismal Merrill Lynch earnings and a
weak job market despite strong results from tech companies.
U.S. first-time jobless claims up to 372,000 last week; continuing claims near 3 million
U.S. first-time jobless claims up to 372,000 last week; continuing
claims near 3 million
4/17/2008 8:31:47 AM
Wednesday, April 16, 2008
Markets Wednesday, 04/16/2008
| Dow : 12619.27 up 256.80
| S & P : 1364.71 up 30.28
| NASDAQ: 2350.11 up 64.07
| Bond (10Y): 3.68%, 98.47
MARKETS:
Big rally on Wall Street
Stocks jump over 250 points, as better-than-expected earnings reports
from Intel and JP Morgan help soothe worries about poor first-quarter
results.
IBM profit jumps on services, software sales
IBM profit jumps on services, software sales
IBM Corp. reports first-quarter profit rose 26% from a year ago due to
strong sales in its global services division and across all its major
geographic areas.
Market Snapshot: U.S. stocks rally on upbeat earnings news
Stocks rally, with the Dow industrials posting a 256-point advance, as
upbeat results from technology bellwether Intel Corp. and financial
giant J.P. Morgan Chase raise hopes that corporate profits can weather a
U.S. economic downturn.
Crude hits new record high of $115.07 a barrel
Crude-oil futures gain more than $1 to surpass $115 after data showing a
surprising drop in U.S. crude inventories and fresh lows for the U.S.
dollar.
Bush calls for halt in greenhouse-gas growth by 2025
The president's remarks come after increasing pressure from the
corporate sector for some kind of effort regarding climate change.
Merrill's latest quarterly write-down seen as high as $8 billion
Merrill Lynch will likely write down the value of complex mortgage
securities and other troubled assets by at least $4.5 billion when the
brokerage firm reports quarterly results, according to analysts.
IBM reports 36% jump in quarterly profit on sales of $24.5 billion. CEO: 'We feel good about the rest of the year.'
IBM reports 36% jump in quarterly profit on sales of $24.5 billion. CEO:
'We feel good about the rest of the year.'
Stocks rally after better-than-expected earnings reports from Intel, JP Morgan Chase and Coca-Cola. Dow up 245 points.
Stocks rally after better-than-expected earnings reports from Intel, JP
Morgan Chase and Coca-Cola. Dow up 245 points.
Oil tops $115 a barrel for the first time as traders react to big decline in crude and gasoline supplies.
Oil tops $115 a barrel for the first time as traders react to big
decline in crude and gasoline supplies.
U.S. economy has weakened since mid-March: Fed Beige Book
U.S. economy has weakened since mid-March: Fed Beige Book
4/16/2008 2:03:33 PM
IBM looks to lift market with earnings report
IBM looks to lift market with earnings report
SAN FRANCISCO
IBM Corp. is slated to report its first-quarter results after the market
closes Wednesday, and Wall Street analysts are expecting Big Blue to
deliver strong results led by its services business and international
sales.
Market Snapshot: U.S. stocks rally on upbeat earnings news
U.S. stocks rally as upbeat results from Intel, J.P. Morgan Chase and
Coca-Cola, as well as in-line data on inflation, helped lift sentiment.
Intel shares jump on upbeat outlook
Shares of Intel Corp. leap more than 6% after the chipmaking giant
issues an upbeat foreast during its first-quarter earnings report.
Write-downs, credit losses cut J.P. Morgan's profit in half
J.P. Morgan Chase & Co. said its first-quarter profit was halved as the
company booked higher provision for credit losses and wrote down the
value of mortgages and leveraged loans. But the results still beat
expectations, and shares gained in early moves.
Hedge-fund managers tally up biggest payday: Alpha magazine
Top hedge-fund managers had the greatest payday in the modern history of
finance during 2007, according to Institutional Investor's Alpha
magazine.
Stocks rise as better-than-expected earnings seem to trump higher inflation....
Stocks rise as better-than-expected earnings seem to trump higher
inflation, plummeting new home construction and record oil prices.
Tuesday, April 15, 2008
Markets Tuesday, 04/15/2008
| Dow : 12362.47 up 60.41
| S & P : 1334.43 up 6.11
| NASDAQ: 2286.04 up 10.22
| Bond (10Y): 3.60%, 99.16
MARKETS:
Stocks manage gains
Wall Street struggles higher as some upbeat earnings and a strong N.Y.
manufacturing report vie with record oil and gas prices.
U.S. stocks end higher led by financials, ahead of Intel
U.S. stocks end higher led by financials, ahead of Intel
U.S. stocks finish higher, with well-received earnings from State Street
and other regional banks helping ease concerns about financials a day
after Wachovia posted an unexpected loss.
WaMu reports $1.14 bln quarterly net loss; closes $7 bln deal
SAN FRANCISCO
Washington Mutual Inc. reported a $1.14 billion first-quarter net loss
late Tuesday as the lender suffered from the mortgage meltdown and
broader credit crunch.
Crude futures, gasoline prices hit new records
Crude-oil futures soar to a new record of $113.99, temporarily boosted
by supply disruption in Mexico and Nigeria.
Bad loans paint grim landscape at regional banks
NEW YORK
Several of the nation's major regional banks, from the Deep South
through the Midwest, saw their shares rally Tuesday, bid higher on
better-than-expected earnings and, for several, a boost from selling
shares in credit-card company Visa Inc.
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Stocks end higher in choppy trading as investors focus on Johnson &
Johnson's earnings, shrugging off record oil prices.
U.S. stocks rise helped by upbeat bank earnings
U.S. stocks rise helped by upbeat bank earnings
U.S. stocks rise on well received earnings from State Street and other
regional banks, as well as data showing improving sentiment on the
economy and in-line core wholesale price growth.
Futures Movers: Oil futures up 1.5% after hitting record
Crude-oil futures soar to a new record of $113.93, temporarily boosted
by supply disruption in Mexico and Nigeria.
Bad loans paint grim landscape at regional banks
NEW YORK
Several of the nation's major regional banks, from the Deep South
through the Midwest, said on Tuesday that plummeting housing prices and
other financial strains on borrowers are forcing large loan write-offs
and provisions for bad loans, undermining quarterly profits.
Delta, Northwest deal reveals a desperate industry
Delta Air Lines' and Northwest's decision to go forward with
consolidation despite without the full approval of pilots indicates how
desperate the airline environment has become in the last month.
J&J reports 40% rise in quarterly profit, lifts estimates
Johnson & Johnson, the world's largest health-care group, reports a
40% increase in first-quarter earnings, due largely to higher sales, a
favorable foreign-exchange rate, and accounting charges in the
year-earlier quarter.
Government reports inflation for businesses soared in March to 1.1%. Excluding food and energy, rate was in line with expectations.
Government reports inflation for businesses soared in March to 1.1%.
Excluding food and energy, rate was in line with expectations.
Foreclosures jump 57 percent in last 12 months
Foreclosures jump 57 percent in last 12 months
April 15, 2008 05:41 AM ET
NEW YORK (Reuters) - Home foreclosure filings surged 57 percent in the
12 month-period ended in March and bank repossessions soared 129 percent
from a year ago, as homeowners struggled
to make mortgage payments, real estate data firm RealtyTrac said on
Tuesday.
BUSINESS NEWS
Delta, Northwest to create largest airline
April 15, 2008 02:21 AM ET
NEW YORK (Reuters) - Delta Air Lines Inc will buy Northwest Airlines
Corp for more than $3 billion under a proposal unveiled Monday
to create the world's biggest airline, as carriers seek to counter
skyrocketing fuel prices and a weak economy.
INTERNET NEWS
Google enlists video ID tools to combat child porn
April 14, 2008 03:40 PM ET
SAN FRANCISCO (Reuters) - Google Inc is enlisting the same
image-recognition technology the company uses to trace copyright
violations on
its YouTube video site to fight online child pornography, the company
said on Monday.
Monday, April 14, 2008
Markets Monday, 04/14/2008
| Dow : 12302.06 down 23.36
| S & P : 1328.32 down 4.51
| NASDAQ: 2275.82 down 14.42
| Bond (10Y): 3.51%, 99.88
MARKETS:
Down day on Wall Street
Stocks give up midday recovery attempt and resume the decline on
Wachovia and worries about first-quarter earnings.
U.S. stocks end lower on earnings worries
U.S. stocks end lower on earnings worries
U.S. stocks finish a wobbly session lower with investors still digesting
the poor results from bellwether General Electric, while absorbing
further evidence of the ailing financial sector from Wachovia.
Capitol Report: Rubin: Weak dollar is an additional problem for the Fed
WASHINGTON
Robert Rubin said the weak dollar, caused by unsound Bush administration
fiscal policy, has now got to be a factor in the Federal Reserve's
thinking about how low it can cut rates to spur economic growth in
coming months.
Analysts skeptical of Blockbuster's bid for Circuit City
Blockbuster's attempt to buy Circuit City is baffling to many
analysts, who think the video-rental chain needs more time to turn
itself around before undertaking a costly acquisition.
Speculators return to oil-futures market, pushing record prices
Speculators increased their bets on rising oil prices last week for the
first time in four, helping push crude prices to a new high, data from
the U.S. futures regulator show.
Wachovia posts loss, will raise $7 bln capital and slash payout
Wachovia Corp cuts dividend, sets plans to raise $7 billion. .
Stocks slip as worries about Wachovia's surprise loss overshadow better-than-expected retail sales figures.
Stocks slip as worries about Wachovia's surprise loss overshadow
better-than-expected retail sales figures.
Wachovia posts loss, will raise $7 bln capital and slash payout
Wachovia posts loss, will raise $7 bln capital and slash payout
Wachovia Corp cuts dividend, sets plans to raise $7 billion.
Delta-Northwest merger may take shape this week
SAN FRANCISCO
After a week of negotiations, Delta Air Lines and Northwest Airlines may
be set to reveal merger plans as early as Tuesday, according to a media
report Sunday.
Blockbuster offers to buy Circuit City at 54% premium
Blockbuster Inc. said it proposed to buy Circuit City for $6 to $8 a
share.
Danone sales rise 19% on baby food deal, yogurt demand
Groupe Danone, the world's largest yogurt maker, says first-quarter
sales rise 19%, boosted by the acquisition of baby-food giant Royal
Numico and strong demand for its Activia yogurts.
Wachovia reports a net loss in latest earnings report, slashes its dividend. Announces plans for public offering to raise capital.
Wachovia reports a net loss in latest earnings report, slashes its
dividend. Announces plans for public offering to raise capital.
The government reports March retail sales rose 0.2%; excluding auto sales they rose 0.1 %.
The government reports March retail sales rose 0.2%; excluding auto
sales they rose 0.1 %.
