Abstract:
The Stock market news report below gives a brief description of the condition of the stock market today(16/01/08). It highlights the various sectors, which are doing well on the stock market and the ones, which are not. We also get to see the share prices of some of the well known companies and the reasons for the rise or fall in the prices of shares.
Stock market news report as on 16/01/08, 16:30 ET, indicated that the following sectors in the economy were going strong on the stock exchange. The sectors included:
Sectors going strong:
Apparel and accessories
Health care services
Food retail
- Departmental stores
- Thrifts and mortgages
- Homebuilding
- Leisure products
- Specialty stores
- Home furnishings
Sectors not so strong:
- Gas utilities
- Industrial gases
- Semiconductors
- Agricultural products
- Different metals and mining activities
- Fertilizers
- Agriculture chemicals
- Engineering and construction
Stock market news report as on date implies the following activities on the stock market.
Price of MGM stock increases after rewriting tender offer:
After the owner of the company MGM Mirage declared that it would rewrite its tender offer, the price of stocks on the stock market escalated. MGM Mirage has as many as 293.8 million outstanding shares. The new prices of shares were fixed at USD80 per share. Trading of stocks took place ranging USD$61.17 - USD$100.50 last year.
Upgradation leads to rise in Mattel share price:
After upgrading Hot Wheels toys and Barbie, price of shares belonging to Mattel rose remarkably. Since 1st October, the cost of shares have declined by 30%. As on 16/01/08, share costs escalated to USD$17.99 or by 8.1%. Since last year the trading of shares have been between USD$16.42-USD$29.71.
Shares of Intel decline post results:
On the declaration of results of the first and second quarter, cost of Intel shares dropped. The results were much less than what Wall Street had actually anticipated. The decrease in the share prices were attributed to the drop in the sale of "flash memory chips". Estimates of earnings in the year 2008 were reduced from USD$1.36 to USD$1.34. For the year 2009, estimates were reduced from USD$1.50 to USD$1.40.