Shares of Avon Products Inc have gone up as much as 20% after an apparently non-existent firm incorporated in a remote archipelago in the Indian Ocean has offered to buy the cosmetics company for around three times its market value.
In an official statement, Avon said that it had not received any such offer.
On Thursday, the purported acquirer said in a US Securities and Exchange Commission filing that it would pay $18.75 per share for Avon. The purported acquirer identified itself as PTG Capital Partners.
Shares of Avon peaked at $8 and have ended up 6% at $7.07 even after a number of traders have doubted the veracity of the offer. After news of the filing broke, about 69.5 million shares changed hands on the stock's busiest day since March 20.
Shares of Red Hat increased as much as 5% in after-hours trading. The shares of the company soared after it posted strong quarterly results, which beat past Wall Street's expectations.
About 2,971,552 shares were traded during trading session, marking 130% from the earlier session's volume.
Red Hat reported $0.43 EPS for the quarter and with this, it beat the Thomson Reuters consensus estimate of $0.41 by $0.02. The company had generated revenue of $464.00 million for the quarter, compared to the consensus prediction of $456.80 million. It posted $0.39 earnings per share during the same quarter in the previous year.
Red Hat CEO and President Jim Whitehurst said that the company strategy and its movement towards open hybrid cloud technologies led to strong results.
On Monday, shares of Eli Lilly increased 1.32% to $77.12 in afternoon trading. The shares rose after announcement made by the company that it would carry out late-stage studies with Pfizer (PFE) for their drug, tanezumab. The decision was taken by the company after the Food and Drug Administration decided to lift the partial hold on the trials of these kinds of drugs.
The FDA stopped testing of the chronic pain treatment and also on the ones, which work by blocking a protein called nerve growth factor on account of nervous system complications. Researchers observed these issues while testing the drugs on animals.
Asian stocks, on Monday, have seen a collapse while the dollar has stayed firm after strong US jobs data fanned expectations that the US Federal Reserve may increase the interest rates earlier than previously thought.
Stock markets across Asia, including Japan's Nikkei, Australia, Malaysia and Indonesia have declined largely, with 1.2% drop in MSCI's broadest index of Asia-Pacific shares outside Japan.
European stock markets were also expected to do likewise, with financial spread betters expecting Britain's FTSE 100 to open down 0.5%, Germany's DAX off 0.5%, and France's CAC 40 to ease 0.4 %.
According to the US non-farm payrolls (NFP) data released on Friday, the unemployment rate has hit a 6-1/2-year low of 5.5% in February.
iPhone and Mac giant Apple will be shortly added to the 30-stock Dow Jones Industrial Average index on March 19. The move will mean exit of AT&T from the index. In order to balance the impact of technology sector on the index, the Cupertino, California-based technology major Apple will be added.
The 119-year old stock market barometer has been holding AT&T for almost 100 years. AT&T has been kicked out of the index a few times in the past as well. AT&T has not commented on the move announced by the index manager S&P.
Dow Jones is currently hovering around its all time high and the current move to change AT&T by Apple won’t have a big impact on the index. Apple stock ended marginally higher at $126.6 on Friday.
American Eagle Outfitters (AEO) is among the apparel retailers in the United States who have struggled to drive store traffic over the last few years. On Wednesday, the clothing company reported its fourth quarter performance for fiscal year of 2014. The company has beaten the revenue expectations of analysts.
According to reports, the stock of the company has risen about 7.69% at $15.96 at the closing bell. The soared shares have surprised the market with good earnings in the fourth quarter. The company has posted revenue of about $1.07 billion, which was up by 3%. Earlier, analysts had predicted revenue of about $1.06 billion for the fourth quarter of 2014.
Mumbai: A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), Saturday surged 213.71 points or 0.73 percent in the early session ahead of the Union Budget.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 56.85 points or 0.64 percent up at 8,901.45 points.
The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 29,411.33 points, was trading at 29,433.83 points (at 9.15 a. m.) in the early session, up 213.71 points or 0.73 percent from the previous day`s close at
The Sensex touched a high of 29,437.59 points and a low of 29,406.10 points in the trade so far.
All the sectors were trading in green. The rally was led by banking, capital goods and consumer durables sectors.--PTI
New Delhi, Feb. 28 - Markets witnessed a surge ahead of the presentation of the Union Budget 2015-16 as the Sensex shot up 250 points to reach 29476 and the Nifty was up 70 points at 8916.
The Sensex at the Bombay Stock Exchange had yesterday shot up 473 points to close at 29,220, a day before the presentation of the Union Budget.
The Nifty at the National Stock Exchange also surged 161 points, or 1.9 percent, to 8,845 on Friday.
Finance Minister Arun Jaitley is going to present his first full-year Budget in Parliament at 11 am today, seeking to put the country on a path of 7-8 percent growth over the next two years. (ANI)
Mumbai: The benchmark BSE Sensex rose over 228 points in early trade today amid a firming global trend and hopes of a growth-oriented Budget.
Further, covering-up of short positions by speculators ahead of tomorrow's monthly expiry in the derivatives segment, supported the upside.
Rising for the second straight session, the 30-share barometer spurted by 228.67 points, or 0.79 percent, to 29,233.33.
The index had gained 29.55 points in yesterday's session.
All sectoral indices, led by oil & gas, metal, realty and banking were trading in positive zone with gains up to 1.03 percent.
Similarly, the National Stock Exchange index Nifty was trading above the 8,800-mark by gaining 60.10 points, or 0.69 percent, to 8,822.20.
Mumbai: The benchmark BSE Sensex was trading above the 29,000-mark by rising over 79 points in early trade on Tuesday as participants made selective buying ahead of monthly expiry in the derivatives segment on Thursday and the Union Budget on Saturday.
The 30-share barometer gained 79.71 points, or 0.27 percent, to 29,054.82. The index had lost 487.16 points in the previous two sessions.
Sectoral indices led by realty, FMCG, consumer durables, capital goods and healthcare were trading in positive zone with gains up to 1.06 percent.
Similarly, the wide-based National Stock Exchange Nifty index edged higher by 13.10 points, or 0.15 percent, to 8,768.05.
Mumbai: Continuing its rising streak for the seventh straight session, the BSE Sensex rose 114 points and the NSE Nifty regained the 8,900-level in early trade Thursday as participants indulged in enlarging positions ahead of Budget.
The 30-share barometer spurted by 114.65 points, or 0.39 percent, to trade at 29,434.91 with consumer durables, realty, auto, oil & gas and banking sector stocks, leading the rise.
The gauge had rallied by 1,092.84 points in previous six sessions.
Similarly, the National Stock Exchange index Nifty regained the 8,900-mark after three weeks by rising 32.60 points, or 0.36 percent, to 8,901.70.
Mumbai: Extending gains for the sixth straight session, the benchmark BSE Sensex rose over 105 points in early trade Wednesday as participants indulged in enlarging positions on hopes of faster economic reforms by the government and optimism over the forthcoming Budget.
The 30-share index was trading higher by 105.68 points, or 0.36 percent, at 29,241.56 with stocks of FMCG, realty, capital goods, consumer durables, power, bank and healthcare sectors, leading the rise.
The Sensex had gained 908.46 points in the previous five sessions.
Also, the National Stock Exchange index Nifty edged higher by 31.60 points, or 0.35 percent, at 8,840.95.
Brokers said optimistic buying by participants ahead of the Budget and acceleration in economic reforms by the government, led to the rise.
Mumbai: Continuing its upward journey for the fifth consecutive session, the benchmark BSE Sensex gained 132 points in early trade on Monday as funds and retail investors enlarged positions on hopes of pro-growth Budget and better third quarterly earnings by some bluechip companies.
Besides, a firming trend at other Asian markets buoyed trading sentiments here.
The 30-share index was trading higher by 131.93 points, or 0.45 percent, at 29,226.86 with all the sectoral indices, led by realty, metal, oil & gas and banking, leading the rise.
The gauge had gained 867.54 points in the previous four sessions.
Also, the National Stock Exchange index Nifty shot up by 34.90 points, or 0.40 percent, at 8,840.40.
New Delhi - A large number of listed firms, including top blue-chips, are facing heat of the stock market authorities for sudden surge in their share prices and trading volumes as also for 'speculative' information leaks leaving investors at large in the lurch.
In just about one and a half months since the beginning of this year, the stock exchanges have sought 'clarifications' from at least 19 Sensex blue chips including giants like Mahindra and Mahindra, Hindustan Unilever, SBI, Coal India, Wipro, Hero Motocorp, ICICI Bank, Cipla and L&T.
Beyond Sensex companies also, at least 100 such notices have been issued so far in 2015.
Mumbai - The benchmark Sensex gained 289.83 points to reclaim 29,000 mark and Nifty jumped 94 points to end above 8,800 level Friday on stellar SBI earnings, rising hopes of a pro-growth budget and positive global cues.
Logging their fourth successive session of gains, benchmark indices wrapped up the week in style after ending in the red for the preceding two weeks.
Shares of FMCG, healthcare, banking, auto and metal sectors were the major gainers of the day.
Country's largest public sector lender SBI today reported over 30 percent jump in net profit December quarter. Its shares zoomed nearly 8 percent, adding about 86 points alone to Sensex's 289.83 point surge.
Mumbai - Improvement in asset quality and high interest income pushed State Bank of India's net profit in December quarter by 30 percent to Rs 2,910 crore, boosting the shares of country's largest lender by 6.8 percent.
The bank had reported a net profit of Rs 2,234 crore in the October-December quarter of previous fiscal, SBI said in a statement.
The gross non-performing assets (NPAs) as a percentage of total advances came down to 4.90 percent at the end of third quarter from 5.73 percent in the year-ago period while net NPAs stood at 2.80 percent.
During the quarter, the net interest income increased by 9.20 percent to Rs 13,777 crore as against Rs 12,616 crore in the October-December period of last fiscal.
Mumbai: Shares of budget airline SpiceJet today fell by 4 percent after the company reported widening of net loss by a steep 59 percent during the third-quarter at Rs 275 crore.
The stock went down by 3.99 per cent to Rs 19.25 at the BSE.
The company announced its results post market hours yesterday.
In the middle of an ownership change, SpiceJet had yesterday reported a steep 59 percent rise in third-quarter net loss at Rs 275 crore on lower passenger numbers and a one-time cost of Rs 295 crore.
Mumbai: Continuing its rising streak for the fourth consecutive session, the benchmark BSE Sensex gained over 110 points in early trade Friday on the back of a firming trend in global market.
However, discouraging IIP and retail inflation data, limited the gains.
The 30-share barometer moved up by 110.17 points, or 0.38 percent, to 28,915.27 with healthcare, realty, metal, consumer durables, FMCG and banking sector stocks, leading the rally. The gauge had gained 577.71 points in past three sessions.
On similar lines, the National Stock Exchange index Nifty rose by 39 points, or 0.45 percent, to 8,750.55.
Mumbai: Rising for the third straight session, the benchmark BSE Sensex gained over 151 points in early trade on Thursday as participants engaged in enlarging positions ahead of IIP and retail inflation data to be released later in the day.
Besides, expectations of faster economic reforms by the government and optimism over the forthcoming Budget, buoyed trading sentiments.
The 30-share index was trading higher by 151.91 points, or 0.53 percent, at 28,685.88 with stocks of auto, consumer durables, power, realty and capital goods sectors, leading the rise.
The gauge had gained 306.58 points in the previous two sessions.
On similar lines, the National Stock Exchange index Nifty rose by 36.30 points, or 0.42 percent, at 8,663.70.
Mumbai: The benchmark BSE Sensex rose over 134 points in early trade Wednesday on value-buying by investors in selective stocks amidst optimism over the upcoming Budget.
The 30-share index gained 134.85 points, or 0.48 percent, to 28,490.47 with capital goods, consumer durables, banking, healthcare, power, auto and metal sector stocks, leading the rise.
The index had gained 128.23 points in the previous session.
Also, the National Stock Exchange index Nifty reclaimed the 8,600-mark by rising 47.10 points, 0.55 percent, to 8,612.65.
Brokers said value-based buying by investors as select shares turned attractive after recent losses and optimism over the upcoming Budget, influenced trading sentiments here.