Nokia results show its lack of an iPhone April 22, 2010 NOKIA unveiled worse-than-expected first quarter results yesterday pouring cold water on hopes of a revival at the firm. The world’s biggest mobile manufacturer lacks firepower at the high end of the mobile phone market, with no rival to Apple’s industry-changing iPhone. Apple’s tub-thumping results on Tuesday will have added insult to injury for Nokia, as [...]
Poor forecasts from drug firms leave Wall St flat April 21, 2010 US stocks finished little changed yesterday as disappointing outlooks from healthcare companies offset strong earnings from Morgan Stanley and Apple. Healthcare stocks took a beating after both Abbott Laboratories and Gilead cut profit forecasts. Both Abbott and Gilead cited the impact of costs from US healthcare reform in their outlooks. The two represented a setback [...]
Apple and Yahoo see profits surge April 20, 2010 APPLE results blew past Wall Street expectations on the back of record iPhone sales, and the company gave a surprisingly strong revenue forecast, sending its shares to a record high yesterday. Apple, which typically offers conservative forecasts, projected revenue of $13bn (£8.4bn) to $13.4bn in the current, June quarter. Wall Street had been targeting revenue [...]
Apple and Yahoo lift US stocks with strong results April 20, 2010 US stocks rose yesterday as oil prices lifted energy shares and investors were upbeat about the overall profits recovery, even as some high-profile results fell short of lofty expectations. Goldman Sachs earnings trounced forecasts, but its stock slipped 2.1 per cent to $159.98. UK regulators launched a probe into alleged fraud by the company, adding [...]
Tech stocks the apple of every trader’s eye April 19, 2010 AS THE recovery gathers momentum, business spending on technology is creeping back. In the leaner, greener post-recession world, enhancing productivity through more efficient technology is one way that firms are able to keep costs down. Now that firms are more confident about their business prospects they can start to make investment decisions – analysts are [...]
Supermarket boom will continue April 19, 2010 WHILE retailers on the high-street have been struggling with adverse weather conditions and consumers cutting back on spending during a downturn, their supermarket counterparts have been going from strength to strength. Giant grocer Tesco has seen its share price rise 10 per cent over the past six months and today’s full-year results are expected to [...]
Smell delicious this summer with a sensual new perfume April 19, 2010 PERFUME houses have leapt upon the new season like never before, releasing dozens of spring/summer scents for 2010. To help guide your choices next time you’re in Duty Free (assuming the ash cloud clears), we spoke to the poetic-voiced James Craven, perfume consultant and archivist of London’s top perfumery, Les Senteurs. “This spring/summer is all [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 18, 2010 THE SUNDAYS The Sunday Telegraph BARCAP TO RAID ECM BANKERS Barclays Capital, the investment banking arm of barclays bank, is creating a bold plan to catapult its equity capital markets (ECM) business into a global top-three player in under five years. The ambitious strategy just 18 months after its $1.85bn (£1.2bn) acquisition of Lehman Brothers’ [...]
SPREAD BET GURU April 18, 2010 MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, JP Morgan’s earnings were very good, what will this mean for the other banks? A. I take a balanced view on this. That JP Morgan announced much better earnings than the market had first anticipated, a 57 per cent rise in profits, is a good sign for the bank [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 15, 2010 FINANCIAL TIMES INVESTORS RAISE FEARS ON “STEWARDSHIP CODE” As the Financial Reporting Council prepares to issue a shareholders’ best practice code, industry groups and institutional investors say they are worried it will become another list of boxes to tick. The FRC’s consultation on the world’s first official “stewardship code” closes on Friday and it expects [...]