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Market Update

China Targets 8% Growth, Stocks Drop

Darlington Musarurwa
05 Mar, 2009
New York City

China targeted economic growth of 8% in the current year and Premier Jiabao did not expand its current stimulus package of Rmb4 trillion. Stocks fell in Shanghai and Hong Kong after surging in previous session ahead of the announcement. Hutchison Telecom surged 10%.

Japan Corporate Profit, CapEx Drop

123jump.com Staff
05 Mar, 2009
New York City

Corporate profits in Japan plunge 65% and companies slash capital spending 18% as domestic and export markets shrink. Japan in the latest quarter ending in December suffered worst economic decline in more than five decades. Stocks rallied on the gains in the region on China spending plan.

Australian Trade Surplus Rises

123jump.com Staff
05 Mar, 2009
New York City

Australian trade surplus rises to A$970 million in January. Tight credit conditions weighed on housing approvals and dropped 3.7% to 9,312 units in January. The Australian regulator extends ban on covered short-selling of financial securities.

Commodities Rise, Lift Stocks

123jump.com Staff
04 Mar, 2009
New York City

Stocks around the world closed higher as mining companies and commodities rebounded. General Electric and General Motors dropped a multi-decade low. U.S. lawmakers draft a legislation to let courts change terms of troubled mortgage loans.

UK Stocks Surge, ITV Loss

123jump.com Staff
04 Mar, 2009
New York City

Stocks in UK and Europe closed sharply higher on a rise in consumer confidence in UK and a gain in commodities related stocks. Rio Tinto and BHP Billiton surged more than 13%. ITV annual loss surged to

Big Lots Surges, GE Drops

123jump.com Staff
04 Mar, 2009
New York City

Big Lots, Inc surged of 15.8% after it posted lower quarterly profits but beat the expectations of analysts. Luna Innovations Inc sees revenue below estimates. VeriFone Holdings, Inc first quarter profit beats estimates.

India Attracts FDI Projects

123jump.com Staff
04 Mar, 2009
New York City

Twenty nine foreign direct investment projects approved by India ranged from media and entertainment, financial services and logistic services. Stocks edged higher as markets in the region advanced. The rupee rose to 51.52 against the dollar from 51.95 yesterday.

Stocks in Shanghai, HK Surge

123jump.com Staff
04 Mar, 2009
New York City

Stocks in Hong Kong and Shanghai surged on the hopes that new economic stimulus package will help the economy and sustain consumption and market confidence. A latest read on manufacturing index increased from the previous month but still showed a contraction in the sector.

BoJ Lends to Companies; Panasonic Bonds

123jump.com Staff
04 Mar, 2009
New York City

Stocks in Japan edged higher as the Bank of Japan offers to lend directly to corporations. Banks are weary of increasing lending to companies. Investors are looking for China to expand stimulus package.

Australian GDP Shrank 0.5%

Darlington Musarurwa
04 Mar, 2009
New York City

Australian economy shrank 0.5% in the quarter ending in December on falling exports and weak retail sales. The economy grew in the quarter compared to a year ago, but declined from the third quarter. The sudden deterioration in the world economy has dampened the exports of minerals and metals.

Miners Rebound, Weak Banking Stocks

123jump.com Staff
03 Mar, 2009
New York City

U.S. stocks edged higher but stocks in Europe traded lower as banks drag market indexes. Markets in South America and Canada rose on a rise in metal prices.

The Toro Company Q1 Earnings Call Transcript

123jump.com Staff
03 Mar, 2009
New York City

Landscape equipment maker first quarter net sales were down 16.2% to $340.2 million. Net earnings for the quarter were down by 64% to $6.7 million. Earnings per share were 18 cents as against 29 cents in the prior year quarter.

The Home Depot Q4 Earnings Call Transcript

123jump.com Staff
03 Mar, 2009
New York City

The home improvement retailer quarterly sales decreased 17.3% to $14.6 billion on same-store sales fall of 13%. Net loss generated in the quarter was $54 million. Earnings per share plunged to 3 cents from 40 cents a year-ago quarter and estimates earnings per share decline of 7% in fiscal year.

First Solar Rises; Bank of Montreal Falls

123jump.com Staff
03 Mar, 2009
New York City

Huntington Bancshares Incorporated led gainers in the S&P 500 index with a rise of 13.3%. AutoZone, Inc second quarter net up 8.6%. Eagle Bulk Shipping Inc fourth quarter profit declines on higher expenses. iPCS, Inc fourth quarter loss narrows.

Northern Rock Portfolio Declines, UK Stocks Fall

123jump.com Staff
03 Mar, 2009
New York City

U.K. construction activity falls in February. Northern Rock residential mortgages portfolio declines 27% to