Imagination and ARM ride on Apple’s coat tails July 20, 2011 ARM Holdings surged almost six per cent yesterday, riding on the coat tails of Apple’s bumper results on Tuesday night. The UK chip designer creates chips for Apple’s blockbuster iPad and iPhone products. It is expected to feature a powerful new chip in the upcoming iPhone 5. Imagination Technologies, which also designs chips for Cupertino-based [...]
Soaring tech stocks burnish banking rally to send FTSE up July 20, 2011 BANKING stocks led Britain’s top shares higher yesterday on strong corporate earnings and optimism over a deal in Washington to increase the US debt ceiling and avoid default. The UK benchmark index closed up 63.83 points, or 1.1 per cent, at 5,853.82, building on the previous session’s 0.7 per cent advance. Solid US earnings, including [...]
US shares pause on budget worries July 20, 2011 US stocks closed near unchanged yesterday, a day after Wall Street’s best rally since March, as the oncoming debt ceiling deadline overshadowed strong earnings from Apple. Apple hit another all-time high one day after the maker of the iPhone and iPad reported quarterly revenues that far exceeded expectations. The stock jumped 2.7 per cent to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 19, 2011 THE WALL STREET JOURNAL ANGLO IRISH’S US PORTFOLIO DRAWS INTEREST Several banks, including Deutsche Bank AG, Goldman Sachs Group, J.P. Morgan Chase and Wells Fargo, are weighing bids for parts of nationalized Irish lender Anglo Irish Bank Corp’s US real-estate portfolio, according to people familiar with the matter. NOKIA EXPECTED TO GIVE DOWNBEAT FORECAST When [...]
Apple crushes profit forecast July 19, 2011 APPLE’S quarterly revenue again crushed Wall Street expectations yesterday, driven by blockbuster sales of its hot iPhones and iPads. Its flagship products all exceeded forecasts. It sold 20.34m iPhones during the quarter along with 9.25m iPads and 3.95m Mac computers. Gross margin for the quarter came to 41.7 per cent. The Cupertino, California company said [...]
Banks lead FTSE fight back July 19, 2011 The FTSE 100 fought back on opening today with banks recovering some of the ground they lost yesterday after the Eurozone debt crisis and US economic uncertainty sapped confidence. Following a grim session the financial sector found its feet today, clawing back losses which were partly triggered by analysts criticising European bank stress tests. Barclays [...]
IBM trounces forecasts with 8pc profit rise July 18, 2011 TECH giant IBM’s quarterly profit rose eight per cent from a year earlier, beating Wall Street forecasts, buoyed by strong growth in sales of its computers and software. The world’s biggest maker of mainframe computers reported second-quarter net income of $3.66bn (£2.88bn), or $3.00 per share, compared with $3.39bn, or $2.61 per share, a year [...]
POACHERS TURNED GAMEKEEPERS SNARE GOLDMAN WITH BEST BREW July 18, 2011 SHARP-suited, discerning of taste and with a generous disposable income they can easily take elsewhere. Yes, the Goldman crew are a tough crowd – but even the investment bank’s most hard-nosed deal-makers are being won over by the new Italian opposite the Goldman Sachs fortress on Fleet Street, which is gaining a reputation for the [...]
Apple set for bumper quarter July 17, 2011 Apple is set to deliver yet another bumper quarter when it announces its results tomorrow. Analysts expect stronger second-quarter revenue and profit, boosted by the easing of component shortages for the iPad caused by the Japanese tsunami, which could boost gross margins to as high as 41 per cent. The market expects revenues to rise [...]
Stress test relief to provide a lift to markets on open July 17, 2011 AND the winner is…” direction for stocks this morning will be driven by the results of the European bank stress tests, which were released at 5pm on Friday, after European stock markets closed. A grand total of eight banks failed the tests, but that number was well below the worst fears of some analysts who [...]