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April 14, 2005
by Brian Turner
U.S. budget air carrier Southwest Airlines announced a substantial rise in first-quarter profits on Thursday.
The company said their first quarter net earnings this year were $76 million, compared to $26 million for the same period last year.
The news sent shares in Southwest up 4 percent in early New York trading Thursday.
Profits were helped by a savings ...
by Brian Turner
The London markets were down by mid-afternoon Thursday, with the FTSE 100 down 0.1 percent to 4,955.3 and the FTSE 250 falling 0.8 percent to sit at 7,182.9.
The losses were primarily due to weakness in the mining and oil sectors and the fact that Apax Partners had dropped its bid to take over Woolworth’s.
Woolworth’s shares were down 29.1 percent to ...
by Brian Turner
In Asian markets Thursday, stocks were generally down.
Sydney’s markets hit their lowest point in almost three months when the S&P/ASX 200 fell 1.3 percent to 4082.3.
Taipei was down 0.4 percent due to technology sell-offs.
Seoul had its biggest one-day loss in nearly six months when its composite index fell 2.8 percent.
The Tokyo markets were still feeling ...
by Brian Turner
Despite a report of more than a six-fold increase in earnings yesterday fueled by the success of the iPod music player, shares in Apple Computer fell 1 percent in after hours trading Wednesday night.
This was due to disappointment at the news that Apple’s current-quarter revenues would fall short of Wall Street’s highest estimates.
Apple said it expected current-quarter revenues of $3.25 billion ...
by Brian Turner
Weekly data on crude oil supplies showed a rise for the ninth week in a row Wednesday, with a 3.6 percent rise, putting the total supply at 320.7 million barrels.
This is the highest figure since June 2002.
But the U.S. Energy Department figures also put the operating capacity of U.S. refineries at 91 percent, down from 93.7 percent ...
April 13, 2005
by Brian Turner
By midday on Wednesday shares of Harley-Davidson, the Milwaukee-based motorcycle manufacturer, were down 17 percent, to $48.84.
The slide was due to warnings that earnings were lower than expected and an announcement that the company would cut production.
U.S. motorcycle sales were flat in the first quarter, falling short of expectations, and estimates are that second-quarter sales well be lower than ...
by Brian Turner
Shares in Elan, an Irish drug group, rose 21 percent by early afternoon Wednesday on hopes that its drug Tysabri may be able to go back on the market after its suspension six weeks ago.
The suspension of the multiple sclerosis drug’s sales came after two patients on the drug contracted a rare condition affecting the central nervous system.
One ...
by Brian Turner
In Tokyo, the Nikkei 225 average fell for the third straight day on Wednesday and the Topix index was down as well as lower oil prices and less concern about interest rates in the US had little influence over Asian markets.
The Nikkei was down 0.3 percent, ending at 11,637.52. The Topix was also down by 0.3 ...
by Brian Turner
Oil prices hit a six-week low Wednesday in anticipation of the release of US weekly crude oil inventory figures. The report is expected to say that there has been another rise in crude oil stockpiles.
In early trading in London, IPE Brent fell a further 42 cents to $51.56 per barrel for May delivery after a loss of ...
by Brian Turner
The dollar lost ground in relation to the euro and the yen on Wednesday after the release of the minutes from the March meeting of the Federal Open Market Committee (FOMC) left questions about the direction interest rates will go and the speed with which they will move.
By midmorning trading in London on Wednesday, the dollar lost most ...
April 12, 2005
by Brian Turner
Dutch brewing group Heineken, the fourth largest brewer in the world, is undertaking a wide-ranging management overhaul in the wake of falling profits that are blamed on the falling dollar.
The changes emphasize concerns of supervisory board members and senior executives over the company’s ability to deal swiftly with moves by the competition, particular in light of several key mergers by ...
by Brian Turner
In Tokyo Tuesday, the technology and auto manufacturing sectors, aided by the effects of a lower dollar and an overnight rise in the price of crude oil all combined to send the markets lower yet again.
Sony was down by 1.8 percent, Cannon retreated by 1.6 percent, and Toshiba fell by 1.1 percent. Sharp was down even more, 2.6 percent, ...
by Brian Turner
The International Energy Agency (IEA) early Tuesday reduced its prediction for world oil demand for 2005, helping to send crude oil prices lower after an initial rise in early trading.
They lessened their projections by 50,000 barrels per day. The IEA cited several reasons for this reduction in projected oil demand, including a decreased demand for oil in Russia and ...
by Brian Turner
In addition to the issue of a conventional 50-year bond in May, the UK Debt Management Office is giving serious consideration to issuing an inflation-linked 50-year bond in the third quarter of 2005.
No decision has been taken yet, but the issuance of such a long-term bond linked to inflation, which would serve to protect investors from future price increases and would ...
by Brian Turner
Despite the news that the U.S. trade deficit was at an all-time high in February, the dollar remained about the same on Tuesday.
In early trading in New York, the dollar was nearly the same in relation to the euro, standing at $1.296 after an initial fall when the trade data was released.
It remained to be seen what ...
April 11, 2005
by Brian Turner
A U.S. mobile e-mail company, Seven, has acquired its Finnish rival, Smartner, in an effort to create a larger competitor to Research In Motion’s (RIM) BlackBerry, currently the company to beat in the mobile e-mail market.
A number of companies, including Intellisync, Visto, and Good Technology, have all attempted to take a lead on mobile e-mail services.
However, analysts see each as ...
by Brian Turner
Verizon Communications, the largest U.S. telecommunications company, agreed over the weekend to pay Carlos Slim, MCI’s largest single shareholder and an opponent of Verizon’s bid to buy MCI, $1.1 billion for his 43.4 million shares in the company.
This makes Verizon MCI’s largest shareholder and greatly strengthens their effort to acquire MCI. Verizon now seems to have a commanding advantage ...
by Brian Turner
Monday's Tokyo markets were hit by the weeked's anti-Japanese protests in China.
Not even a strong showing by Japan’s entertainment and leisure sectors could overcome investor unease, and Japanese companies with connections to China were especially affected.
Overall, the Nikkei fell 1.1 percent on Monday, and the Topix was down 0.9 percent. Kawasaki Heavy Industries, which has contracts to build trains in ...
by Brian Turner
The U.S. dollar fell on Monday against European and Asian currencies, and analysts say this might signal the end of a month-long rally in the dollar.
The dollar fell against the euro, sterling, the Swiss franc, and the yen, as well as against the Canadian dollar.
Data showed that by April 5, net short positions on the dollar were as low as ...
by Brian Turner
Crude oil futures fell for the sixth straight day on Monday, and several pieces of news were credited with a combined influence to cause the drop in prices.
First of all, OPEC said they will consider raising oil production next month in order to meet a projected upturn in demand in the third quarter of the year.
OPEC also intimated that ...
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U.S. budget air carrier Southwest Airlines announced a substantial rise in first-quarter profits on Thursday.
The company said their first quarter net earnings this year were $76 million, compared to $26 million for the same period last year.
The news sent shares in Southwest up 4 percent in early New York trading Thursday.
Profits were helped by a savings ...
By midday on Wednesday shares of Harley-Davidson, the Milwaukee-based motorcycle manufacturer, were down 17 percent, to $48.84.
The slide was due to warnings that earnings were lower than expected and an announcement that the company would cut production.
U.S. motorcycle sales were flat in the first quarter, falling short of expectations, and estimates are that second-quarter sales well be lower than ...
Dutch brewing group Heineken, the fourth largest brewer in the world, is undertaking a wide-ranging management overhaul in the wake of falling profits that are blamed on the falling dollar.
The changes emphasize concerns of supervisory board members and senior executives over the company’s ability to deal swiftly with moves by the competition, particular in light of several key mergers by ...
A U.S. mobile e-mail company, Seven, has acquired its Finnish rival, Smartner, in an effort to create a larger competitor to Research In Motion’s (RIM) BlackBerry, currently the company to beat in the mobile e-mail market.
A number of companies, including Intellisync, Visto, and Good Technology, have all attempted to take a lead on mobile e-mail services.
However, analysts see each as ...
