Markets News
Articles 71 - 80 of most recent articles
WTO chief says seven-year talks may collapse: report
NEW YORK (MarketWatch) -- World Trade Organization Director-General Pascal Lamy said Friday that talks on a global free-trade pact face collapse as the clock ticks down on negotiations in Geneva intended to break a seven-year deadlock, Agence-France Presse reported. "We need to change gears very quickly to turn things around," Lamy was quoted as saying by his spokesman, Keith Rockwell, according to AFP. Diplomats and negotiators said that Friday would be make-or-break at the end of a gruelling week of bargaining at the World Trade Organization which has produced scant evidence of progress.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 46 minutes ago ¦ comment?
NEW YORK (MarketWatch) -- World Trade Organization Director-General Pascal Lamy said Friday that talks on a global free-trade pact face collapse as the clock ticks down on negotiations in Geneva intended to break a seven-year deadlock, Agence-France Presse reported. "We need to change gears very quickly to turn things around," Lamy was quoted as saying by his spokesman, Keith Rockwell, according to AFP. Diplomats and negotiators said that Friday would be make-or-break at the end of a gruelling week of bargaining at the World Trade Organization which has produced scant evidence of progress.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 46 minutes ago ¦ comment?
EnCana upgraded to strong buy at Raymond James
LONDON (MarketWatch) -- Oil and gas company EnCana Corp. was upgraded to strong buy from outperform at Raymond James, which cited valuation after the stock fell 26% from its all-time high in mid-June. Raymond James added that EnCana reported better-than-expected second-quarter results and raised its full-year production and cash flow guidance. "We believe this correction has created an excellent buying opportunity for long-term investors," the broker said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 47 minutes ago ¦ comment?
LONDON (MarketWatch) -- Oil and gas company EnCana Corp. was upgraded to strong buy from outperform at Raymond James, which cited valuation after the stock fell 26% from its all-time high in mid-June. Raymond James added that EnCana reported better-than-expected second-quarter results and raised its full-year production and cash flow guidance. "We believe this correction has created an excellent buying opportunity for long-term investors," the broker said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 47 minutes ago ¦ comment?
Legg Mason swings to quarterly loss
BOSTON (MarketWatch) -- Legg Mason Inc. on Friday reported a fiscal first-quarter net loss of $31.3 million, or 22 cents a share, compared with net income of $191 million, or $1.32 a share, in the year-ago period. Revenue slipped 13% to $1.05 billion, the Baltimore-based asset manager said. The quarterly loss included charges of $155.4 million, or $1.09 a share, as a result of support Legg Mason provided to money market funds hit by the credit crunch. Assets under management fell 3% quarter-over-quarter to $922.8 billion. Chief Executive Mark Fetting in a statement said the company has acted in the best interests of clients and shareholders by "raising capital early and by taking proactive steps" to cut the overall exposure of its money market funds to troubled structured investment vehicles.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 50 minutes ago ¦ comment?
BOSTON (MarketWatch) -- Legg Mason Inc. on Friday reported a fiscal first-quarter net loss of $31.3 million, or 22 cents a share, compared with net income of $191 million, or $1.32 a share, in the year-ago period. Revenue slipped 13% to $1.05 billion, the Baltimore-based asset manager said. The quarterly loss included charges of $155.4 million, or $1.09 a share, as a result of support Legg Mason provided to money market funds hit by the credit crunch. Assets under management fell 3% quarter-over-quarter to $922.8 billion. Chief Executive Mark Fetting in a statement said the company has acted in the best interests of clients and shareholders by "raising capital early and by taking proactive steps" to cut the overall exposure of its money market funds to troubled structured investment vehicles.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 50 minutes ago ¦ comment?
Arch Coal's profit jumps in the second quarter
NEW YORK (MarketWatch) -- Arch Coal Inc. said Friday that second-quarter profit climbed to $113.0 million, or 78 cents a share, from $37.6 million, or 26 cents, in the year-earlier period. The St. Louis coal producer said revenue increased to $785.1 million from $598.7 million in the three months ended June 30. Analysts surveyed by FactSet Research were expecting a profit of 63 cents a share on $737.6 million in revenue. For the year, Arch Coal upped its profit estimate to a range of $2.50 to $2.85 a share, from its outlook of $2.40 to $2.80 a share given in April. Analysts are looking for a profit of $2.69 a share, according to FactSet.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 51 minutes ago ¦ comment?
NEW YORK (MarketWatch) -- Arch Coal Inc. said Friday that second-quarter profit climbed to $113.0 million, or 78 cents a share, from $37.6 million, or 26 cents, in the year-earlier period. The St. Louis coal producer said revenue increased to $785.1 million from $598.7 million in the three months ended June 30. Analysts surveyed by FactSet Research were expecting a profit of 63 cents a share on $737.6 million in revenue. For the year, Arch Coal upped its profit estimate to a range of $2.50 to $2.85 a share, from its outlook of $2.40 to $2.80 a share given in April. Analysts are looking for a profit of $2.69 a share, according to FactSet.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 51 minutes ago ¦ comment?
Dynegy to restate $229 mln in Q1 revenue
NEW YORK (MarketWatch) -- Dynegy on Friday said it's restating its first-quarter revenue by $229 million. Citing a calculation error, the Houston firm said the accounting change on power purchases has no effect on its previously reported operating loss, net loss or loss per share for the three months ended March 31. Nor does it impact the company's cash flows, liquidity positions or 2008 earnings estimates. In the company's first-quarter report, revenues and cost of sales included $229 million of power purchases that were presented on a gross basis as opposed to a net basis. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 55 minutes ago ¦ comment?
NEW YORK (MarketWatch) -- Dynegy on Friday said it's restating its first-quarter revenue by $229 million. Citing a calculation error, the Houston firm said the accounting change on power purchases has no effect on its previously reported operating loss, net loss or loss per share for the three months ended March 31. Nor does it impact the company's cash flows, liquidity positions or 2008 earnings estimates. In the company's first-quarter report, revenues and cost of sales included $229 million of power purchases that were presented on a gross basis as opposed to a net basis. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 9 hours, 55 minutes ago ¦ comment?
Update: Black & Decker 2nd-quarter net off 22%
NEW YORK (MarketWatch) -- Black & Decker Corp., the Towson, Md., toolmaker, reported second-quarter net income fell 22% on 3.4% lower revenue. Earnings fell to $96.7 million, or $1.61 a share, from $118 million, or $1.80, in the year-earlier period. Revenue fell to $1.64 billion from $1.7 billion. A survey of analysts by FactSet Research produced a consensus estimate of $1.43 of profit. A favorable tax rate contributed 12 cents a share to the latest earnings, enabling BDK to exceed estimates, Chairman and Chief Executive Officer Nolan D. Archibald said in a statement. "Weak demand in the U.S. and slowing conditions in parts of Western Europe, however, resulted in lower sales and earnings than in 2007," he said. Black & Decker now expects earnings of $1.30 to $1.40 a share for the third quarter and adjusted earnings of $5.25 to $5.45 for the year. In April, Black & Decker had reduced its full-year adjusted forecast to a range of $5.25 to $5.65 a share. (Adds forecast.)Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 10 hours, 14 minutes ago ¦ comment?
NEW YORK (MarketWatch) -- Black & Decker Corp., the Towson, Md., toolmaker, reported second-quarter net income fell 22% on 3.4% lower revenue. Earnings fell to $96.7 million, or $1.61 a share, from $118 million, or $1.80, in the year-earlier period. Revenue fell to $1.64 billion from $1.7 billion. A survey of analysts by FactSet Research produced a consensus estimate of $1.43 of profit. A favorable tax rate contributed 12 cents a share to the latest earnings, enabling BDK to exceed estimates, Chairman and Chief Executive Officer Nolan D. Archibald said in a statement. "Weak demand in the U.S. and slowing conditions in parts of Western Europe, however, resulted in lower sales and earnings than in 2007," he said. Black & Decker now expects earnings of $1.30 to $1.40 a share for the third quarter and adjusted earnings of $5.25 to $5.45 for the year. In April, Black & Decker had reduced its full-year adjusted forecast to a range of $5.25 to $5.65 a share. (Adds forecast.)Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 10 hours, 14 minutes ago ¦ comment?
Ceradyne earnings slip in second quarter
NEW YORK (MarketWatch) -- Ceradyne Inc. said Friday that second-quarter earnings were $33.2 million, or $1.25 a share, compared to $38.3 million, or $1.38 a share in the year-ago period. Sales for second-quarter 2008 were $185.0 million, down slightly from $185.4 million in second-quarter 2007. FactSet analysts, on average, expected earnings per share of $1.12 on sales of $179.4 million. For the full year, the Costa Mesa, Calif.-based high-tech ceramic-armor maker sees earnings per share of $4.70 to $4.80 on sales of $715 million to $836 million.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 10 hours, 18 minutes ago ¦ comment?
NEW YORK (MarketWatch) -- Ceradyne Inc. said Friday that second-quarter earnings were $33.2 million, or $1.25 a share, compared to $38.3 million, or $1.38 a share in the year-ago period. Sales for second-quarter 2008 were $185.0 million, down slightly from $185.4 million in second-quarter 2007. FactSet analysts, on average, expected earnings per share of $1.12 on sales of $179.4 million. For the full year, the Costa Mesa, Calif.-based high-tech ceramic-armor maker sees earnings per share of $4.70 to $4.80 on sales of $715 million to $836 million.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 10 hours, 18 minutes ago ¦ comment?
T. Rowe Price's net income holds steady
BOSTON (MarketWatch) -- Investment manager T. Rowe Price Group Inc. before Friday's opening bell said its second-quarter net income was unchanged from a year earlier at $162.2 million. On a per-share basis, profit rose to 60 cents from 58 cents. Net revenue rose to $586.5 million from $551.1 million. Wall Street analysts polled by Thomson Reuters had forecast earnings of 60 cents a share on revenue of $566.8 million. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 10 hours, 27 minutes ago ¦ comment?
BOSTON (MarketWatch) -- Investment manager T. Rowe Price Group Inc. before Friday's opening bell said its second-quarter net income was unchanged from a year earlier at $162.2 million. On a per-share basis, profit rose to 60 cents from 58 cents. Net revenue rose to $586.5 million from $551.1 million. Wall Street analysts polled by Thomson Reuters had forecast earnings of 60 cents a share on revenue of $566.8 million. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 10 hours, 27 minutes ago ¦ comment?
European shares slide, insurers hit by Munich Re forecastAFP - Europe's main stock markets dropped on Friday, led by the insurance sector which tumbled after German re-insurance giant Munich Re warned that its 2008 net profit would miss targets.
Yahoo! – 10 hours, 28 minutes ago ¦ comment?
Aer Lingus to up surcharge on four U.S. routes
LONDON (MarketWatch) -- Ireland's Aer Lingus said it's going to increase its long-haul fuel surcharge on four long-haul routes to the U.S., effective July 30. The increase will be on routes to Chicago, Orlando, San Francisco and Los Angeles and will be $15 or 10 euros. Surcharges on New York, Boston and Washington Dulles are unchanged.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 10 hours, 36 minutes ago ¦ comment?
LONDON (MarketWatch) -- Ireland's Aer Lingus said it's going to increase its long-haul fuel surcharge on four long-haul routes to the U.S., effective July 30. The increase will be on routes to Chicago, Orlando, San Francisco and Los Angeles and will be $15 or 10 euros. Surcharges on New York, Boston and Washington Dulles are unchanged.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – 10 hours, 36 minutes ago ¦ comment?
