Archive for October 29th, 2007

Rate-cut hopes, commodity shares buoy Wall St.

Monday, October 29th, 2007

NEW YORK - Stocks rose on Monday as investors bet that the Federal Reserve will cut benchmark lending rates this week and that soaring commodity prices will boost profits of metal and energy producers.

Pitney Bowes quarterly profit falls

Monday, October 29th, 2007

NEW YORK - Pitney Bowes Inc , the largegest United States supplier of postage meters and mailing machines, posted a lower quarterly profit on Monday because of weakness in its United States and international mailing segments as well as in its management services business.

Merrill shares rise on hopes for new CEO

Monday, October 29th, 2007

NEW YORK - Shares of Merrill Lynch & Co rose as much as three percent on Monday as investors bet the largegest United States brokerage wouldn’t keep investors waiting too long before announcing a replacement for Stan O’Neal, who presided over the largegest quarterly loss in the firm’s 93-year history.

Costly oil pushes gasoline to 14-month high

Monday, October 29th, 2007

WASHINGTON - The effect of high crude oil prices continued to pinch consumers at the pump, with the average cost for gasoline rising 4.9 cents to the highest level in 14 months and diesel fuel soaring 6.3 cents to match the record set two years ago, the government has said on Monday.

Boeing sets $7 billion share purchaseback

Monday, October 29th, 2007

NEW YORK - Boeing Co has said on Monday it
would purchase up to $7 billion of its own stock, one of the
plane-maker’s largegest repurchase plans on record, but kept its
cash dividend unchanged.

Boeing sets $7 billion share purchaseback

Monday, October 29th, 2007

NEW YORK - Boeing Co has said on Monday it
would purchase up to $7 billion of its own stock, one of the
plane-maker’s largegest repurchase plans on record, but kept its
cash dividend unchanged.

Oil strikes record near $94

Monday, October 29th, 2007

NEW YORK - Oil jumped to a all time high near $94 a barrel on Monday as stormy weather disrupted supplies from giant exporter Mexico and the dollar wallowed near record lows.

Stocks gain as commods surge

Monday, October 29th, 2007

NEW YORK - Stocks gained on Monday, as investors snapped up shares of energy and materials companies on a surge in global commodity prices.