Market Update

Honda, Takeda Drive Tokyo Stocks; Prius Recall

Darlington Musarurwa
03 Feb, 2010
New York City

Tokyo stocks edged higher at close. Earnings at Honda, Mitsubishi UFJ, Takeda Pharmaceuticals and Kobe Steel drove stocks in Tokyo higher. Toyota sales declined 16% in January in the U.S. and expanded its product recall to Japan.

Cadbury Holders Prefer Kraft Shares; BAE Falls

Mayank Mehta
03 Feb, 2010
New York City

UK stocks closed lower and consumer confidence revived in January. BAE Systems declined 2% after the company share losses in the joint fighter plane development program with Lockheed Martin. Autonomy Corp fourth quarter profit rises. Standard Life fourth quarter revenues increased sharply.

European Automakers Gain; Markets Decline

Mayank Mehta
03 Feb, 2010
New York City

European markets closed lower on the persistent worries related to rising deficit at smaller member nations in the EU. Norway left its key lending rate at 1.75%. Electrolux dropped on lower than expected earnings. Vinci fourth quarter revenue declined 4.5%.

News Corp Rises; Walgreen, Ralph Lauren Fall

Mayank Mehta
03 Feb, 2010
New York City

The Western Union Company led the decliners in the S&P 500 index with a loss of 9.2%. Fiserv, Inc fourth quarter net income rises 90%. News Corp lifts 2010 outlook. Comcast Corp fourth quarter profit rises as the revenues gain. Pfizer Inc fourth quarter profit misses expectations.

U.S. Service Sector Weak; Stocks Struggle

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

U.S. stocks declined after service industry expanded at a slower pace in January than estimated. Private sector cut 22,000 jobs according to a latest private survey. Crude oil inventories increased at the end of last week.

Strong Finish in Asia; Honda, Esprit Rise

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

Asian markets rebounded at close. Earnings at Honda, Mitsubishi UFJ and Esprit Holdings drove stocks in Tokyo and Hong Kong higher. The Sensex index in India surged as foreign investors pour money in listed companies.

Electrolux Earnings Drag European Stocks

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

European stocks struggle as investors remain focused on the EU regulators

EU Regulators to Monitor Greece Plan

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

Greece, Spain, Portugal and Italy worries currency traders in Europe. Greece today won an endorsement from the EU regulators as it prepares to lower its deficit sharply in one year. Spain and Portugal will face difficult choices in the next few months.

EMC Q4 Earnings Call Transcript

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

Even though sales and services revenue for fourth quarter grew only marginally to $4.1 billion, EMC net income surged 54% to $426.49 million due to better cost controls and higher service revenues. Earnings per share rose to $0.20 from $0.13 from the year ago quarter.

Piper Jaffray Q4 Earnings Call Transcript

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

The asset management services provider quarterly revenue surged 124% to $132.9 million. Net quarterly income was $12.3 million due to strong growth in investment banking and institutional brokerage revenue. The company earned 63 cents a share compared to a loss of $9.76 a share a year-ago quarter.

Peabody Energy Q4 2009 Earnings Call Transcript

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

Revenues fell 18% to $1.55 billion and net income fell 68.5% to $92.2 million or 34 cents per diluted share. Operating costs and working capital to generate operating catch flow of more than $1 billion and raised dividend for the fifth time since IPO.

Macau Casino Revenues Surge 65%; HK Stocks Up

Mayank Mehta
02 Feb, 2010
New York City

Stocks in Hong Kong and Shanghai diverged. Hong Kong retail sales increased 16% in December and home sales surged in January. Gross casino revenues in Macau soared 65% in January. Securities regulator approves rights issue of China Merchants Bank.

Australian Rates on Hold; Woodside Up

Darlington Musarurwa
02 Feb, 2010
New York City

Reserve Bank of Australia left its key lending rate unchanged at 3.75%. Australian business confidence fell in December. Hill Industries profits rise 40%. Woodside Petroleum increased nearly 4% after workers at Pluto natural gas project ended an eight-day strike.

Second Day Gain of 1% in S&P 500 Index

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

U.S. indexes added more than 1% for the second day. Indexes closed lower at the end of three weeks in a row. Crude oil rebounded and hovered near $77 a barrel. Home builders gained after the index of pending home sales increased and D.R. Horton reported its first quarterly profit since 2007.

Nomura Profit Lifts Japan Stocks

Darlington Musarurwa
02 Feb, 2010
New York City

Average monthly wages in Japan drop 3.9% in 2009. Nomura returned to profit in the third quarter as banks issue more shares in underwritten offering. Mitsubishi Electric Corp reported its first quarterly profit in five quarters. Daihatsu Motor Corp. lifts profit forecast to 15 billion yen.