AT&T Wireless maakte een sprong van meer dan 16 % tot 13.8 dollar na het nieuws dat Cingular de winnaar is in de strijdt na de opbiedingen samen met Vodaphone. De cash deal brengt de waarde van de stukken AT&T Wireless op 15 dollar. De Dow wint 87 pnt. De Nasdaq sluit 26 pnt hoger.
- 17:53 ET Monday After Hours : prices levels vs. 4 pm ET: Today's broad-based rally has carried over into the extended session where the S&P futures, at 1158, are 2 points above fair value, and the Nasdaq 100 futures, at 1512, are 4 points above fair value. A number of encouraging earnings pronouncements have lifted the spirits of buyers in the after hours. The below table lists tonight's most notable news items, and the reason behind the stock's resulting move:
- 15:34 ET Bond Market Summary : - Treasuries remain unchanged today with the 10-year trading in a narrow 4.019%-4.061% range. Market-moving news has been scarce following this morning's positive manufacturing numbers, forcing traders to search for reasons to buy or sell, and the lack of activity has resulted in a directionless trade on light volume. Treasury's Snow issued a typical response to questions on employment, the dollar and interest rates in an impromptu interview, with no effect. This week's PPI, CPI and leading indicators should be able to spark significant movements in the treasuries. Note: Tables associated with Thursday's PPI data will be delayed until further notice. The ten-years are currently +01/32nds yielding 4.034%; twos and threes are unchanged yielding 1.662% and 2.185% respectively; fives are +01/32nds yielding 3.0%; thirties are +03/32nds yielding 4.91%.
- 08:49 ET Gold Oil and Dollar Summary : - The Dollar loses ground against the Euro (1.2857) after European Central Bank President Trichet passed up an opportunity on Monday to comment about the Euro's recent volatility and strength. This "non-action" has led the market to believe that a "selling intervention" will not occur anytime soon as the Euro re-tests its all-time highs near 1.2900. Also of note is Belgain Finance Minister Reynders saying he would only be concerned if the Euro's advance was too rapid and "well above" its current level (Bloomberg). On the hand, the Yen (105.54) is little changed versus the Dollar as traders worry the Bank of Japan may intervene at anytime by selling Yen for Dollars to weaken their rising currency...Gold (414.70) trades $4 higher this morning on the news of a weaker Dollar versus the Euro. A weak Dollar makes gold cheaper for holders of other currencies. Gold experienced a dramatic reversal last Friday after reaching a high of 418. It sold off as low as 407.10 before regaining some strength into the close (410.80)...Oil (34.40) is little changed Tuesday morning, as traders remain indecisive about last week's OPEC announcement that it may or may not cut production depending on demand as the spring approaches. The next meeting to officially decide their action is on March 31.
- 07:45 ET TWX: - Time Warner Cable looking at possible acquisitions -- WSJ : The Wall Street Journal's "Heard on the Street" column discusses the state of the cable business. According to the article, Comcast, whose purchase of AT&T's cable systems two years ago vaulted it to become the largest cable operator in the nation, proved its ambitions were even greater last week when it made an unsolicited bid for Walt Disney. And Cox Communications is riding a wave of double-digit growth spurred in part by strong sales of its telephone service. Meanwhile, Time Warner Cable, a unit of Time Warner whose cable business is the nation's second-largest, has been plodding along with single-digit growth rates, pinning its hopes for the future on the introduction of new products such as telephone services and video on demand. And its hopes to snap up small cable operators were stalled last year as its parent Time Warner dug itself out of debt. Now, parent Time Warner has emerged from what it calls its "reset year" and it finally has the financial flexibility to make small acquisitions. Time Warner's stock has risen dramatically to a current price of about $17 from a low of about $10 a year ago, driven by the company's successful debt-reduction efforts and its progress in stabilizing the lagging America Online division. But some on Wall Street say that further stock acceleration depends on the performance of Time Warner Cable, the co's largest division. If Time Warner Cable can't sustain a high growth rate with new products alone, many on Wall Street hope the company will boost sales by acquiring a smaller cable company, such as Adelphia Communications, Charter Communications or Cablevision Systems. According to article, in recent months, Time Warner CEO Richard Parsons has hinted that he may be interested in buying cable assets.
Guy Boscart,