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Stock Reports Thursday
06:33 ET European Markets FTSE...4506.70...+33.70...+0.8%. DAX...4053.20...+48.80...+1.2%.
06:33 ET Asian Markets Nikkei...10837.50...+79.83...+0.7%. Hang Seng...13203.59...+45.91...+0.3%.
06:22 ET Nasdaq lobbies NYSE companies to joint-list; HPQ is first recruit -- WSJ : The Nasdaq Stock Market is lobbying large, blue-chip companies that trade on the NYSE to list their shares on both Nasdaq and the Big Board as part of a program it plans to launch next week, according to people familiar with the matter. Nasdaq, which competes against the Big Board for corporate listings, plans to announce that Hewlett-Packard (HPQ), one of the 30 stocks in the Dow Jones industrial average and which now trades on the NYSE, has agreed to list its shares on both markets. The move would break a recent tradition in the U.S. stock markets, where major companies tend to list on only one major market. Nasdaq has contacted several large companies about listing, including AIG, SCH and PFE. According to the article, Nasdaq already handles 13.2% of the volume of NYSE-listed stocks. The move is seen for a way by corporations to highlight their frustration with the Big Board, as some CEOs have expressed frustration with the specialist system.
06:16 ET Verizon expected to invest $1 bln in wireless Internet data network (VZ) 36.56: --Update-- The Wall Street Journal reports that Verizon Wireless is expected to announce Thursday that it will invest $1 billion in the next two years to deploy a high-speed wireless Internet data network nationwide, marking an increase in capital spending for the nation's largest wireless carrier as competition for users intensifies. Lehman Brothers analyst Blake Bath recently estimated that capital spending in the wireless industry would rise in 2004 for the first time since 2001. The investment by Verizon Wireless will come in addition to its existing capital expenditure level of a little over $4 billion a year for the past two years. Shares of Nortel (NT) rose 19% yesterday, after Verizon's local-phone business announced a contract estimated to be valued at more than $100M. An increase in capital spending by wireless carriers would be good news for telecom-equipment manufacturers such as Nortel, LU and ERICY.
06:07 ET European Summary : European stocks having a day of solid gains led by telecommunications-equipment companies including Nokia (NOK), on optimism spending on their products will increase. This comes after Verizon (VZ), the biggest U.S. local-phone company, said it will spend $1 billion through 2005 to expand nationwide a network that provide wireless Internet access at high speeds. Also semiconductors among the gainers after Taiwan Semi (TSM), the world's largest contract microchip maker, posted an unexpectedly strong 68% jump in Dec sales on Thursday, underscoring the semiconductor recovery is gaining traction. European aerospace company, EADS, parent company of plane-maker Airbus telling investors it's expecting a turnaround in its troubled space division to fuel a 20% rise in operating profit this year, below the expectations of most analysts. The dollar winning some respite against the euro on Thursday as nervousness the European Central Bank might signal concern over the euro's record-breaking rally prompted investors to reduce bets on the greenback's slide, Reuters reporting... UK +0.77%, France +1.04%, Germany +1.14%.
"JJ Call me a 2'x4' again on the forum and your going to pay" Sportman.