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Market Update

U.S. GDP Revised to 5.9%; Home Sales Fall 7.2%

123jump.com Staff
26 Feb, 2010
New York City

U.S. existing home sales in January declined 7.2%, second monthly decline in a row. The second estimate of the U.S. GDP showed an expansion of 5.9%. Stocks declined after weaker than expected home sales. The Gap Inc increased 5.5% after quarterly net surged 45%.

CPI Drops in Japan, Eleventh Monthly Decline

Darlington Musarurwa
26 Feb, 2010
New York City

Japan

Sydney: ANZ, Woolworths Rise; QBE Drops

Darlington Musarurwa
26 Feb, 2010
New York City

Positive earnings drove the market sentiment. Higher commodities prices also contributed the gains in the benchmark index. ANZ profit surged 16% to A$1.6 billion in January. Woolworths first half profit increased 11.4% to A$1.1 billion.

Hong Kong Eases; Shanghai Surges 1.5%

123jump.com Staff
25 Feb, 2010
New York City

CLP Holdings Ltd recommends final dividend. NetEase.com, Inc 2009 fourth quarter profit beats analyst estimates. China Eastern denies it may sell stake in Middle East. China Coal Energy said raw coal output surged 43.9% in January.

Australian Markets Track International Weakness

Darlington Musarurwa
25 Feb, 2010
New York City

Australian business investment gains 5.5% to A$27.7 billion in December. OZ minerals reported 2009 loss of A$517 million loss. REA Group profit rises 76% to A$23.1 million.

Nomura $3 Billion Bond Offering

Darlington Musarurwa
25 Feb, 2010
New York City

Tokyo market averages declined following losses in international markets. Sumitomo Trust & Banking plans to take a 20% stake in China based Nanjing Trust. Nomura plans to raise $3 billion through debt sale in the U.S.

Stubborn Inflation in India; Hathway IPO

Mayank Mehta
25 Feb, 2010
New York City

Stocks in Mumbai traded lower. Hathway Cable f& Datacom IPO closes 8% below the price. Gammon India secures contract from ISKCON. Crompton Greaves Ltd approves issue of bonus shares. L&T estimated $1.7 billion contracts to build power plants.

Late Rally in NY; Stocks Close Lower

123jump.com Staff
25 Feb, 2010
New York City

U.S. indexes staged a late rally but stopped short of erasing losses. Palm Inc plunged after it estimated sharply lower revenues. Crude oil declined on weak jobs report and durable goods orders were lower than expected. U.S. Fed will review Goldman Sachs credit default swaps on Greece

European Indexes Drop 2%, Greece in Focus

Mayank Mehta
25 Feb, 2010
New York City

European markets fell sharply for the second day after rating agencies joined the chorus of investors urging Greece to meet its deficit target. Italy completed its

UK Stocks Down; RBS, Centrica, GKN Up

Mayank Mehta
25 Feb, 2010
New York City

British American Tobacco profit growth slows. Centrica signs agreement to acquire equity interests in Trinidadian gas blocks, establishing first producing LNG position. Capita Group Plc net income rises 14%. Gammon awarded

California Pizza Q4 Earnings Call Transcript

123jump.com Staff
28 Feb, 2010
New York City

The casual dining restaurant chain reported quarterly revenue increased 3.8% to $167.8 million but full service comparable restaurant sales fell 5.8%. Net quarterly loss widened 86% to $9.9 million. The company lost 41 cents a share compared to a loss of 22 cents a share a year-ago quarter.

United Online Q4 Earnings Call Transcript

123jump.com Staff
25 Feb, 2010
New York City

The Internet holding company reported quarterly revenue decreased 3% to $249.5 million. Net income generated in the quarter was $16.5 million. The company gained 19 cents a share compared to a loss of $1.68 a share the prior-year quarter.

Coca-Cola Enterprises Rises; GameStop Plunges

Mayank Mehta
25 Feb, 2010
New York City

Coca-Cola Enterprises Inc led gainers in the S&P 500 index with a rise of 34%. GameStop drops 8% after chief financial officer resigns to join international arm of Wal-Mart Stores. True Religion and MetroPCS report earnings ahead of expectations.

Coca-Cola Buys N. American Bottling Operations

123jump.com Staff
25 Feb, 2010
New York City

Coca-Cola Company agreed to acquire North American bottling operations from Coca-Cola Enterprises Inc. CCE shareholders will receive $10 in cash and one share in a new entity with the European bottling operations only. Coca-Cola

S&P 500 Index Drops 1%; Weak Durable Orders

123jump.com Staff
25 Feb, 2010
New York City

U.S. stocks trade lower after durable goods orders declined in January excluding transportations orders. Weekly jobless claims increased 22,000 and insured unemployment rate was unchanged at 3.5%.