ADR Report: ADRs End Dn; Terrorism, Oil Woes Take A Toll
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NEW YORK (Dow Jones)--American depository receipts tip-toed into the red Monday, as concerns over a terrorist attack in Saudi Arabia and rising oil prices spooked investors.
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Oil prices, poor management, terrorism -- what's not to hate about the airline industry?
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The Nasdaq exchange will halt trade in NEC Corp  ADRs from September 27, after the Japanese electronics group missed a twice-extended deadline to file an auditor-approved earnings report, NEC said on Wednesday.
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Oil prices dropped from record highs  above $50 a barrel on Wednesday as the U.S. government reported  a surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed a cease-fire.
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This week, the biggest market declines since the Sept. 11, 2001, terrorist attacks in the U.S. caused a crisis of confidence in sectors including technology, leading IT investors to reassess what's in store for the year.
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Soaring oil prices and terrorism have instilled fresh caution into global markets over the past six months, executives and investors said at a technology conference in Cannes.
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NEW YORK : New York&#39;s main crude oil contract closed above 51 dollars a barrel for the first time, riding a speculative wave powered by fear of interruptions to supply from the Gulf of Mexico.
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Boeing and friends tighten their belts as Pentagon cuts defense spending. Also: HP settles $150 million lawsuit and feels the hurt & hellip;.  Europeans look to DSL for broadband internet & hellip;. and more.
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The Asian earthquake and tsunami catastrophe has unleashed financial damage in the tens of billions of dollars but foreign insurers will get off lightly, according to a top US industry body.
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TORONTO - World crude prices eased Thursday after hurricane Ivan passed over the US Gulf Coast&#39;s oil refineries and drilling platforms without causing serious damage.
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Oil prices slid from record highs above  $50 a barrel on Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed a temporary cease-fire.
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Justice Department prosecutions of international terrorism cases, which surged in volume after the Sept. 11, 2001, attacks, have nearly returned to the levels seen prior to the hijackings, according to an independent analysis of government data released yesterday.
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The kingdom of Saudi Arabia, three Saudi princes and several Saudi financial institutions were dismissed Tuesday as defendants in six civil lawsuits accusing them of providing support to al-Qaida before the Sept. 11 terrorist attacks.
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(InfoWorld) - This week, the biggest market declines since the Sept. 11, 2001, terrorist attacks in the U.S. caused a crisis of confidence in sectors including technology, leading IT investors to reassess what's in store for the year. Considering that most analysts are predicting moderate -- about 6.5 percent -- global growth in IT product sales this year, vendors have been riding high recently. Key technology suppliers reported better-than-expected earnings in 2006, and IT companies in general enjoyed seven straight months of market gains capped last week by a six-year high in the tech-heavy Nasdaq exchange. But share-price gains for this year were wiped out this week as a precipitous decline in Chinese markets Tuesday led to panic selling around the world. The Nasdaq closed Tuesday at 2407.86, down 96.66 points for the day and 117.08 down from its six-year high last Thursday. The question for IT is whether the decline signals an overdue correction for valuations on technology suppliers: Given the modest prospects for overall revenue growth, have investors been a little too exuberant? "Yesterday's 3-5 percent drop in the popular stock averages is a wake-up call for a market that had become far too complacent, in our view," said Banc of America Securities analyst Tom McManus Wednesday. The Nasdaq slid again Thursday asÂ Dell reported disappointing results for its fourth fiscal quarter ended Feb 2. Dell posted net income of $673 million, compared with $1.01 billion a year earlier. Revenue declined 5 percent from a year ago to $14.4 billion. Analysts polled by Thomson Financial had been expecting $14.9 billion in revenue. Despite the warnings and the grim news from Dell, however, there still appears to be underlying confidence in the tech sector. For example, traders applauded Oracle's announcement Thursday thatÂ it would buy business intelligence software vendor Hyperion SolutionsÂ for $3.3 billion. Oracle shares closed at $16.78, up by $0.35. This is a big endorsement for strength in that sector. Often, an acquiring company suffers share price declines on the assumption that a big buy will negatively affect earnings even in a healthy market. And on Thursday alone, companies in various sectors of IT received kudos from analysts in the form of stock forecast upgrades. CAD maker Autodesk was upgraded to an outperform rating by Robert W. Baird & Co.; business software developer BEA Systems was upgraded from underperform to peer perform by Bear Stearns & Co.; and telecom equipment maker Ciena was upgraded from neutral to overweight by JP Morgan & Co., which noted that the optical market continues to recover faster than expected. Soothing remarks about the overall U.S. economy from Federal Reserve Bank Chairman Ben Bernanke to Congress on Wednesday also helped prevent a further big decline in markets. He said he was still looking forward to "moderate" overall growth this year. So far, "moderate growth" has been good enough to stoke investments in IT. If that's an indication of things to come, this week's sharp declines might end up being seen as only a brief correction.
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The Nasdaq begins its spectacular collapse, signaling the end of the dot-com boom. Compiled by Tony Long.
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Crude oil prices closed higher Thursday in an up-and-down session as a consensus built that whatever havoc Hurricane Ivan causes in the southeast, its impact on Gulf Coast oil production will be short-lived.
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NEW YORK - Oil prices reached a new high and sent stocks lower Monday, but with trading on Wall Street light and losses only moderate, investors seemed to be coming to terms with near-$50 per barrel crude.    After setting a new all-time record settlement price of $48.88 on Friday, oil continued its march higher on Monday, renewing fears on Wall Street that the slowdown in profits and the economic recovery would extend through the end of the year due to high energy costs...