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Bernanke spurs stock volatility, dollar gains
22 May 2013 at 11:05am
By Ryan Vlastelica NEW YORK (Reuters) - Stocks, bonds and currencies took a wild ride on Wednesday after Federal Reserve Chairman Ben Bernanke said the U.S. central bank's massive bond-buying program would remain in place for now, even as the Fed considers cutting back stimulus in coming months. Wall Street stocks jumped as much as 1 percent before turning lower after Bernanke, in testimony to Congress, said that if economic improvement continued, "We could in the next few meetings take a step down in our pace of purchases. ...
Bernanke comments spur volatility, but stocks, dollar gain
22 May 2013 at 9:29am
By Ryan Vlastelica NEW YORK (Reuters) - Stocks, bonds and currencies took a wild ride on Wednesday after Federal Reserve Chairman Ben Bernanke said the U.S. central bank's massive bond-buying program would remain in place for now, even as the bank considers cutting back stimulus in coming months. Wall Street stocks jumped as much as 1 percent, before modestly paring gains after Bernanke, in testimony to Congress, said that if economic improvement continued, "We could in the next few meetings take a step down in our pace of purchases. ...
Target cuts full-year forecast after weak first quarter
22 May 2013 at 8:10am
By Jessica Wohl (Reuters) - Target Corp cut its full-year profit forecast on Wednesday while turning in a weak first quarter with disappointing sales, as a chilly start to spring kept shoppers from buying seasonal items like clothing. Target warned in April its first-quarter results would be weaker than anticipated, and its performance was even worse than revised Wall Street expectations due to the cool weather and the impact of higher payroll taxes on spending. Shares of Target fell 3.6 percent to $68.70. First-quarter sales at stores open at least a year fell 0. ...
Manipulation probe draws attention to oil firms' trading desks
22 May 2013 at 8:08am
By Dmitry Zhdannikov and Claire Milhench LONDON (Reuters) - Europe's energy price manipulation probe has turned regulatory attention to secretive trading units at oil companies with huge turnover and millionaire staff with risk appetite higher than at Wall Street's biggest banks. Regulators have scrutinised banks, trading houses and commodities markets more closely following the Libor benchmark rigging scandal but trading desks at oil majors have largely escaped attention. ...
Toll Brothers profit beats on higher home prices
22 May 2013 at 7:29am
By Mridhula Raghavan (Reuters) - Luxury homebuilder Toll Brothers Inc reported stronger-than-expected results on higher average selling prices and booked its highest quarterly orders in seven years, sending its shares up 7 percent. Record-low interest rates and rising rents have encouraged more Americans to buy homes after the housing market bust, but concerns over rising costs for land, building materials and labor have dented builders' enthusiasm in the last few months. Toll missed Wall Street expectations last quarter as costs, including high lumber prices, hurt profits. ...
Future V.S Current Earnings
22 May 2013 at 4:20am
I think one of the reasons people just throw themselves into a dead-end job is because they do not consider their future earnings, or at least choose not think about it. Think long and hard how much do you want to be earning in the future. Knowing what limit you?ll be satisfied with highly determines...
SE Asia Stocks-Singapore up on earnings hopes; Thai shares fall
22 May 2013 at 3:07am
BANGKOK, May 22 (Reuters) - Most Southeast Asian stockmarkets rose to new highs on Wednesday on light to moderatevolume and ahead of U.S. Fed Chairman Ben Bernanke's testimonyin Congress, with expectations of improved earnings forecastssupporting Singapore shares. Singapore's Straits Times Index was up 0.3 percentat 3,454.37, reversing Tuesday's fall, led by a 1.8 percent gainin Singapore Telecommunications Ltd, the top companyby value. Jakarta's Composite Index gained 0.4 percent to5,207.99, near its 5,214.97 record close on Monday. ThePhilippine main index rose for a second day, up 0. ...
Asian stocks supported by Fed reassurance; BOJ stands pat
22 May 2013 at 12:12am
By Masayuki Kitano and Vidya Ranganathan SINGAPORE (Reuters) - Some Asian stock markets rose on Wednesday following a positive lead from Wall Street, with Japan's Nikkei reaching a 5-1/2 year high and staying firm as the Bank of Japan stood pat after unleashing massive stimulus last month. European stocks are expected to inch lower with markets taking a breather from a month-long rally before U.S. Federal Reserve Chairman Ben Bernanke's testimony to Congress. Financial spreadbetters expect Britain's FTSE 100 to open down 0.16 percent, Germany's DAX to open 0. ...
STOCKS NEWS SINGAPORE-Earnings seen improving in H2 - Citi
21 May 2013 at 11:11pm
Singapore-listed firms are likely to see more earnings upgradesthan downgrades in the second half of this year, as companyresults are set to improve with the city-state's economic growthexpected to recover towards 2014, Citi said. First-quarter results still showed more misses than beats,but Citi expected the situation to improve in the second half,with large positive revisions expected in industrials, consumerstaples and consumer discretionary segments in 2014. ...
Stocks gain on reassurance from a top Fed official
21 May 2013 at 4:09pm
NEW YORK (AP) ? Reassuring comments from a Federal Reserve official and better earnings from two big retailers helped push the stock market higher Tuesday.
Housing recovery boosts Home Depot 1Q results
21 May 2013 at 3:25pm
Home Depot Inc.'s first-quarter net income rose 18 percent, thanks to the ongoing housing recovery, despite a chilly and wet spring. Its quarterly results topped Wall Street expectations, and the world's ...
Dow, S&P end at records on Fed officials' reassurance
21 May 2013 at 1:40pm
By Angela Moon NEW YORK (Reuters) - Stocks rose on Tuesday, with the Dow and the S&P 500 closing at new all-time highs as Federal Reserve officials' comments eased some concerns that the central bank could start reducing its stimulus program. Dow component Home Depot gave the market a lift after the world's largest home improvement chain raised its profit outlook, driving its stock to a record intraday high. JPMorgan also bolstered the Dow, rising more than 1 percent to a 52-week high after the bank's chief executive won a vote of confidence from shareholders. ...
Sony to assess spin-off proposal for entertainment business - Nikkei
21 May 2013 at 1:10pm
(Reuters) - Sony Corp is considering evaluating a proposal from top shareholder Third Point LLC to spin off part of its movie and music business, Japanese daily Nikkei reported. Sony's U.S. listed shares rose 9 percent on Tuesday on the New York Stock Exchange. Billionaire hedge fund investor Daniel Loeb last week called on the company to spin off its lucrative entertainment arm, setting the stage for a clash between his activist Wall Street fund and management at the Japanese electronics maker. Sony declined to comment when contacted by Reuters. ...
Stock indexes close higher on hopes for Fed
21 May 2013 at 1:09pm
NEW YORK (AP) ? Stocks are closing higher on Wall Street as investors bank on continued support from the Federal Reserve.
Wall Street watchdog to review broker bonus disclosure plan in July
21 May 2013 at 12:44pm
By Suzanne Barlyn WASHINGTON (Reuters) - Wall Street's watchdog will present a plan to its board in July that would require brokers to tell certain clients about compensation they receive when they switch firms, the regulator's chief said on Tuesday. Richard Ketchum, the Financial Industry Regulatory Authority's chairman and chief executive, said he and his staff will review numerous letters about the proposal from industry and investor advocacy groups before the July meeting. Ketchum made the remarks during a briefing for reporters at FINRA's annual conference in Washington. ...