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Delphi restates earnings, adds $195M to losses
USATODAY.com - Delphi, the biggest U.S. auto supplier and formerly part of General Motors, Thursday restated earnings back to 2000 and closed an internal investigation. The restated earnings show Delphi lost $195 million more from 2000 to 2003 than it originally reported.
Double-Digit Earnings Growth About to End
AP - With second-quarter earnings season just days away, it looks like the largest U.S. companies might break a notable winning streak 12 straight quarters of double-digit earnings growth.
TSX higher as energy stocks catch up to Friday's oil rally, C$ tumbles
Canadian Press - TORONTO (CP) - Higher energy stocks and oil prices helped send the Toronto stock market to a positive close after the Canada Day weekend while the latest burst of strength in the U.S. dollar punished the Canadian dollar.
Dow, Nasdaq End Up on Economic Optimism
AP - An improving sales outlook at Wal-Mart Stores Inc. sent stocks higher Tuesday as investors, also cheered by a jump in factory orders, looked past another uptick in the price of oil.
Dollar at 19-mth high vs pound
Reuters - The dollar hit a 19-month high against
the pound on Thursday ahead of a Bank of England decision on
interest rates and crept to an 11-month peak versus the yen as
oil prices surged to another record high.
Sterling down after blasts
Reuters - Sterling struggled near 19-month lows
against the dollar on Friday, a day after falling sharply
following a series of deadly explosions in London.
Dow Gains 147 on Job Creation Report
AP - Wall Street ended a volatile and unusual week on a bullish note Friday, with the Dow Jones industrials gaining more than 146 points on the strength of a positive job creation report and a sharp drop in oil prices.
Stocks Rise on News of Corporate Deals
AP - Stocks extended their advance Monday on news of dropping oil prices and a bevy of corporate mergers.
Stocks Set to Open Flat, PepsiCo to Report
AP - U.S. stock futures are mostly unchanged Tuesday. With no economic data scheduled to drive trading during the session, the market will look to corporate earnings reports for guidance, including PepsiCo Inc.
Dollar recovers ground before trade data
Reuters - The dollar recovered from Tuesday's
four-week low against the euro on Wednesday as selling ahead of
U.S. trade data ebbed but analysts said the U.S. currency
remained vulnerable to any increased trade deficit.
NYSE win for bond investors
FT.com - The New York Stock Exchange has welcomed a move to let members trade a broader range of debt securities on its electronic platform, saying it would be 'a big win' for bond investors.Expanding its fixed-income business could boost NYSE growth as it prepares to merge with the Archipelago exchange and become a public company. The move 'supports our commitment to diversify our marketplace as a multi-asset class venue for our customers', said Robert McSweeney, senior vice president of competitive position at the NYSE. ...
Dollar firm as traders look to Greenspan
Reuters - The dollar held firm on Friday, a day
after a strong retail sales report added to a string of upbeat
news on the U.S. economy and suggested the Federal Reserve
would keep raising interest rates at a steady pace.
GE Reports Strong 2Q Earnings
AP - General Electric Co., one of the world's biggest companies, said Friday that its second-quarter earnings jumped 24 percent as profits surged across all 11 of its business units, prompting the company to tighten its full-year forecast.
Economic News Doesn't Extend to Stocks
AP - Companies are more productive and more people have jobs. Corporate earnings growth is strong. And while oil prices remain near historic highs, the economy is showing great resilience. Even inflation is a non-issue. But don't expect a huge surge in stocks.
Dollar holds gains after data
Reuters - The U.S. dollar remained strong in
early trade on Monday, underpinned by upbeat economic data and
expectations Federal Reserve Chairman Alan Greenspan will
signal more U.S. rate rises, but volume was thin due to a
Japanese holiday.
Dollar idles as traders look to Greenspan
Reuters - The dollar steadied on Tuesday after a
modest dip as traders looked to testimony from Federal Reserve
chief Alan Greenspan for clues about how long the central bank
will keep raising interest rates.
TSX rises 100 points as energy stocks gain, IBM chases away earnings blues
Canadian Press - TORONTO (CP) - The Toronto stock market surged Tuesday as the energy sector gained traction after selling off last week, while wider market sentiment was brightened by strong IBM earnings and a big Canadian supermarket sale.
Greenspan Analysis, Earnings Lift Stocks
AP - Stocks shook off early losses and closed higher Wednesday after Federal Reserve Chairman Alan Greenspan delivered an upbeat assessment of the economy and Wall Street focused on solid earnings reported by a growing number of companies.
Whirlpool Receives Rebuff in Maytag Bid
AP - Whirlpool Corp. received a modest rebuff Thursday in its bid to acquire rival appliance maker Maytag Corp., on the same day it reported a 9 percent drop in second-quarter profits.
Q2 Earnings Growth Strong And Broad, Outside The Yahoos
Investor's Business Daily - Earnings season is in full swing, and most companies so far have scored hits.
Stock markets look at 'another big week for earnings'
Canadian Press - TORONTO (CP) - North American indexes are poised for a quiet week with a fresh basket of earnings reports, rather than major economic data, driving market activity, economists say.
Yen down as yuan revaluation rally fades
Reuters - The yen fell for a second straight
session on Monday, giving back more of the sharp gains scored
last week after China ditched the yuan's decade-long peg to the
dollar.
Texas Instruments Sees 42 Pct Income Gain
AP - Texas Instruments Inc.'s quarterly profit rose 42 percent as the semiconductor maker benefited from lower inventory levels among customers and robust demand for chips in a variety of new electronic gadgets.
Lockheed Martin Sees 2Q Profit, Ups Outlook
AP - Lockheed Martin Corp.'s second-quarter earnings surged 56 percent as the defense contractor best-known for its fighter jets showed Tuesday how it has successfully shifted its focus to newer programs.
Dow Ends Up 57 on Positive Fed Report
AP - Investors sent stocks moderately higher Wednesday after the market viewed a Federal Reserve report on the economy as a sign that the Fed's string of interest rate hikes might be near an end.
Dollar stuck ahead of growth data
Reuters - The dollar shuffled in a narrow band on
Friday ahead of U.S. economic growth data that could strengthen
the Federal Reserve's resolve to keep raising interest rates,
which would buoy the U.S. currency.
Study Shines Light on Earnings Statements
AP - Gaming a financial statement to meet earnings expectations has its own colorful nomenclature: cookie-jar accounting, channel stuffing and 'the big bath.' If a company's earnings meet analyst estimates, the stock gets boosted. If it doesn't, it's busted. But wise investors remember there are many ways a company can prettify its earnings.
Wall Street Hopes New Data Will Fuel Rally
AP - Wall Street's predictions of a summer rally were borne out in July, with stocks enjoying surprising gains thanks to good economic data and a solid earnings performance from corporate America. But as Friday's losses illustrated, investors may be wondering whether stocks are due for a downturn.
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