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China Stocks Fall on Valuation Worries

123jump.com Staff
16 Jul, 2009
New York City

Stocks in Shanghai traded higher in the morning but close lower on the valuation worries. Sinotruk surged 15% after MAN SE acquired 25% stake in the company. Jiangxi Copper added nearly 4% on strong commodities prices.

Chinese Economy Expands 7.9%

123jump.com Staff
16 Jul, 2009
New York City

Economic growth in China accelerates in the second quarter to 7.9% from 6.1% in the first quarter as the stimulus reaches many sectors of the economy. Consumption and investment contributed to the growth but the fall in trade surplus deducted the expansion.

India inflation Falls; Sterlite $1.5 B Offering

123jump.com Staff
16 Jul, 2009
New York City

Sterlite Industries is in process of raising $1.5 billion to fund its power generation business. Indian government plans to raise $22.5 billion by the end of September to fund its budget deficit and infrastructure development. Larsen & Toubro and Bajaj Auto earnings surge.

Tokyo Follows U.S. Gains

Mayank Mehta
16 Jul, 2009
New York City

Stocks in Japan closed higher after China reported a rebound in the economy and U.S. stocks jumped on Intel earnings. Industrial and commodities related stocks in Tokyo closed higher. Mitsubishi UFJ plans to raise as much as $4 billion.

Intel, American Express, Cisco Spark Rally

123jump.com Staff
15 Jul, 2009
New York City

Tech stocks rallied after Intel reported better than expected results and offered optimistic outlook for the economy. Cisco surged nearly 6% after rating upgrade. American Express surged to nine-month high after it lowered its estimate of bad loan charges.

European Auto Sales Up; MAN Stake in SinoTruk

Mukesh Buch
15 Jul, 2009
New York City

European auto sales in June increased on the government incentives but declined 11% in the first half of this year. Germany based MAN acquired 25% stake in China based Sinotruk. The retailer Casio Guichard second quarter sales declined 1.9%.

UK Unemployment Rises; LSE Revenues Fall

Trupti Mehta
15 Jul, 2009
New York City

Stocks in London surged after the miners and insurance companies rallied. The sharp gain in copper and other base metals lifted the stocks in resource sectors. Insurance companies gained on takeover rumors. UK unemployment claims increase in June, record high in 12 years.

China Reserves Above $2 Trillion; FDI Drops

123jump.com Staff
15 Jul, 2009
New York City

Metals and shipping related stocks in Shanghai surged and banking and financial service sectors closed higher in Hong Kong. China

Goldman Sachs Q2 Earnings Call Transcript

123jump.com Staff
15 Jul, 2009
New York City

The bank holding company reported net revenues rose 46% to $13.8 billion in the quarter. Net quarterly earnings surged 65% to $3.4 billion helped by record revenues in fixed income, currency and commodities unit. Earnings per share increased to $4.93 from $4.58 a year-ago quarter.

Yum Falls; Bemis, Gannett, Intel Rise

Mayank Mehta
15 Jul, 2009
New York City

YUM! Brands fell 7% after it reported earnings. The mutual funds manager Janus declined after its chief resigned and company plans to raise capital. Gannett gained after it returned to profit.

BoJ Lowers Outlook; Mizuho Prices Offering

Mayank Mehta
15 Jul, 2009
New York City

Mizuho Financial set the 530 billion yen offering price at 184 yen a share. The Bank of Japan extended by three months its emergency lending program to December and lowered its economic outlook for this year and the next year.

Indian Stocks in 2-Day Rally; Adani Surges

123jump.com Staff
15 Jul, 2009
New York City

The Sensex index in Mumbai gained 6% or 852 in last two days. Metal stocks shine on rally in LME metal prices. Adani Enterprises Limited and Mundra Port & SEZ Ltd surged after Adani Power Ltd filed to raise $450 million.

H&R Block Q4 Earnings Call Transcript

123jump.com Staff
14 Jul, 2009
New York City

The largest U.S tax preparer fourth quarter revenue dipped 3% to $2.47 billion but profit surged 30% to $706.9 million on higher fees and more returns offsetting reduction in tax returns. Earnings per share were $2.09 as against $1.66 a year go.

Intel Tops Views; Reports Loss on EU Charges

123jump.com Staff
14 Jul, 2009
New York City

Intel sales increased 12% sequentially in the second quarter but reported a loss on a charge of $1.45 billion related to the European Union fine. Earnings without the charges were $1 billion, up from $420 million in the first quarter and down $552 million from the second quarter a year ago.

World Markets Focus on Goldman, Retail Sales

Sarla Buch
14 Jul, 2009
New York City

Banks and financial brokers rallied after Goldman Sachs reported sharply higher earnings in the second quarter. Retail sales in May increased 0.6% and inventories declined 1%. Dell Inc fell on earnings worries and CSX increased after it reported in-line earnings.

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