Coty’s $10 Billion Bid for Avon Has Wall Street’s Support
Avon Products rejected $10 billion cash offer from a privately held Coty. The perfume seller said it does not want to proceed if Avon rejects its friendly overtures but pressured the company to open its books that may lead to a higher offer.
U.S. Indexes Extend Gains; Consumer Spending Up 0.8%
U.S. stocks extend gains on the last day of the quartet and the benchmark index is set to close up 12% in the quarter. The stocks were higher after U.S. consumer spending rose 0.8% in February, the most in seven months and European ministers agreed to ...
Jobless Claims at New 4-year Low; GDP Growth Estimated at 3%
U.S. stocks fell for the third day in a row but are set to close the first quarter as the best since April 1998 with the S&P 500 index up 10.9%. Fourth quarter GDP growth was estimated at 3% in the final estimate. European markets declined after labor ...
Durable Orders Rise 2.2%; Pentair, Tyco Flow in $10 B Merger
Stocks in New York were little changed in early trading after durable goods orders rose less than expected in February. Civilian aircraft orders increased 1.6% in the month. Pentair soared 18% after it agreed to merge with flow and control business of ...
U.S. Stocks Trim Gains; Confidence and Home Price Indexes Fall
Stocks in New York pared gains after consumer confidence edged lower in March and metropolitan home prices fell in January. European leaders appear to be ready to expand the bailout fund and markets in Japan jumped to the pre-disaster level last year.
Second Monthly Fall in U.S. New Home Sales; Apple Flash Crash
Stocks on Wall Street declined as global economic worries resurfaced. New home sales declined 1.6% in February and the media price increased 6.2% from a year ago. Apple stock was halted after a single trade knocked off 9% and recovered at the reopen.
Wall Street Falls on Weak Data from China, Europe; Jobless Claims Fall
U.S. stocks were under pressure after weekly jobless claims declined last week and the index of leading economic indicators increased in February. However economic data from the euro zone prompted worries of recession and Chinese manufacturing weakened...
February Home Sales Declined 0.9%; U.S. Stocks Struggle
U.S. stock indexes edged lower and existing home sales declined 0.9% in February. Median home price inched up 0.3% and inventory of unsold homes rose 4.3% to 2.43 million units, 19.3% from a year ago level.
World Markets Edge Lower; U.S. Home Starts Fall
U.S indexes weakened after world markets indexes declined on the rising concerns about China’s economic growth. Indexes, Europe, UK, Canada, China and Australia declined after home prices edged lower in China. Home starts in U.S. fell in February.
U.S. Stocks Flat; Apple to Pay Dividend, Buy Back Stock
U.S. stocks were flat and commodities were on the rise. Home builder confidence was steady in March after rising for five months in a row but and was at its highest since June 2007. U.S. sold off the final tranche of mortgage securities it purchased to...
CPI Rises on Sharp Jump in Gasoline Prices; Sentiment Weakens
U.S. stocks wavered in early trading after consumer price index increased 0.4% in February and confidence edged lower in March. Bank stocks were in focus after investors reassessed the data from the latest stress tests from the Fed. Crude oil prices ro...
Jobless Claims at 4-year Low, Cisco in $5 Billion NDS Deal
U.S. stocks traded sideways in early trading after jobless claims dropped to a 4-year low, producer prices increased 0.4% in February and manufacturing in the Northeast advanced. Foreclosure filings declined 8% in February.
