April 30, 2008 - 10:46 a.m. NEW YORK (AP) - Shares of machinery companies rose Wednesday, along with the broader market, ahead of the Federal Reserve's firmness on interest rates and its assessment of the economy. Also on Wednesday, diesel engine maker Cummins Inc. said its first-quarter profit jumped 33 percent, and the company backed its 2008 revenue guidance. How some machinery stocks were doing in early trading: Manitowoc Co., up 10 cents at ...
Telecom equipment stocks open mixed as Wall Street inches higher; Alcatel-Lucent falls
Apr 30 2008
April 30, 2008 - 10:22 a.m. NEW YORK (AP) - Telecommunications equipment makers opened mixed Wednesday as the broader market inched higher, with Paris-based Alcatel-Lucent down after posting its fifth quarterly loss in a row and saying it expects full-year sales to decline. Wall Street advanced slightly ahead of the Federal Reserve decision on interest rates. How some key telecom equipment stocks performed Wednesday morning: Cisco Systems Inc. rose 20 cents to $25.71. Alcatel-Lucent's ...
Posted by admin under Uncategorized
Hutchinson Technology slides to year low after fiscal 2nd-qtr loss, job cuts, downgrade
Apr 30 2008
April 30, 2008 - 10:20 a.m. NEW YORK (AP) - Shares of Hutchinson Technology Inc. dropped to a year low Wednesday morning in imitation of the maker of suspension assemblies for disk drives reported a wider fiscal second-quarter loss, leading an analyst to downgrade the stock. Shares slipped $2.65, or 15.9 percent, to $13.98. The stock set a five-year simple of $13.85 early in the session. Hutchinson plans to cut jobs to save on expenses, the ...
Posted by admin under Uncategorized
Official says Iran has stopped using US dollar for oil deals
Apr 30 2008
Ali Akbar Dareini, The Associated Press April 30, 2008 - 10:18 a.m. TEHRAN, Iran - Iran, OPEC's second-largest producer, has stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq. Iran has dramatically reduced dependence on the dollar past the past year in the face of increasing U.S. pressure on its financial system ...
Posted by admin under Uncategorized
GM loses $3.3 billion in first-quarter, lowers sales outlook
Apr 30 2008
Dee-Ann Durbin, The Associated Press April 30, 2008 - 10:17 a.m. The General Motors company sign hangs over a row of unsold 2007 Sierra pickup trucks lined up outside a GMC Truck dealership. THE ASSOCIATED PRESS/David Zalubowski DETROIT - General Motors Corp. struggled to a US$3.3-billion first-quarter loss, due in part to a weak U.S. market, a strike at a major ...
Posted by admin under Uncategorized