123jump.com Staff
03 Feb, 2009
New York City
China offered yet another stimulus package this time focused on low income housing, healthcare and education sectors. Trade between Hong Kong and Mainland China rises by 3.3%. Property stocks declined as more home loans fall in negative equity status in Hong Kong.
Darlington Musarurwa
03 Feb, 2009
New York City
The Reserve Bank of Australia lowered its key lending rate by 100 basis points to 3.25%. The bank gave a weak economic conditions outlook. Separately, Australia unveiled A$42 billion plan to create jobs and investment in infrastructure. Stocks edged higher.
123jump.com Staff
03 Feb, 2009
New York City
The Bank of Japan announced a plan to buy liquid stocks and other highly rated securities from banks that are battered by rising losses. The latest move by the Bank of Japan will add more capital in the financial system and may spur lending. Banks have been reluctant to lend. Denso forecasted loss.
123jump.com Staff
02 Feb, 2009
New York City
Microsoft quarterly revenue edged up 2% to $16.6 billion and net income declined 11% to $4.17 billion or 47 cents per share. Online services business revenue was flat, although online advertising revenue was up 7%. The company plans to lay off 5,000 people in the next eighteen months.
123jump.com Staff
02 Feb, 2009
New York City
The fertilizer sales in the quarter rose 30.7% from a year ago but plunged 30% from the third quarter to $1.87 billion. Net earnings surged 109.1% to $ 788 million and earnings per share surged 120.6% to $2.56. The company expects first quarter earnings in the range of $0.70 to $1.00 per share.
123jump.com Staff
02 Feb, 2009
New York City
Fashion accessory retailer second quarter sales declined 2% to $960 million and income declined 13.9% to $217 million. Earnings per share declined to 67 cents from 69 cents in the prior year as same-store sales for the quarter declined 13%.
123jump.com Staff
02 Feb, 2009
New York City
The financial services firm revenue decreased 1% to $17.2 billion and quarterly net income plunged 92% to $702 million. Earnings per share dropped to 7 cents from 86 cents last year. The company extended new credit of over $100 billion in the quarter.
123jump.com Staff
02 Feb, 2009
New York City
European stocks fell after nervous investors worried about banks and earnings in the industrial sector. The euro edged lower and Russian ruble dropped to a 11-year low. A ratings downgrade for Barclays dragged banks in the region and most French banks dropped between 10% and 14%.
123jump.com Staff
02 Feb, 2009
New York City
U.S. stocks declined afer a manufacturing index indicated shrinking activities in the sector. The weak earnings and more layoffs unnerved investors. The second largest retailer Macy''s eliminated 7,000 jobs and cut dividend per share to 5 cents from 13.25 cents and buyback $950 millions of bonds.
Mayank Mehta
02 Feb, 2009
New York City
U.S. stocks traded sideways. Bank of America faced more skepticism for its recent purchase of Merrill Lynch and the bank may be forced to raise more than $85 billion in bailout from the government. Rockwell Automation dropped on lowered earnings outlook. Piper Jaffray and Mattel dropped on earnings.
123jump.com Staff
02 Feb, 2009
New York City
UK manufacturing in January declined as domestic orders and export orders weaken. Stocks in London trading dropped after Moodys lowered its rating on the debt rating for Barclays. Barclays dropped 10%. Rio Tinto rose after Chalco showed interest in acquiring minority interests.
123jump.com Staff
02 Feb, 2009
New York City
Stocks in Mumbai fell after 8% surge in January. The benchmark index Sensex dropped 3.8%. Investors focused on weak exports and falling foreign exchange reserves. Rupee weakened again flirted near record low against dollar. DLF plunged 14% on 69% fall in earnings. M&M net dropped 93%.
Darlington Musarurwa
02 Feb, 2009
New York City
Stocks in Hong Kong fell 3.1% after a week-long closure. Investors are increasingly concerned that stimulus package from the goverment may be not enough and come too late to prevent the economy from shrinking further. Stocks in Shanghai rose. Fiscal deficit in China rose 20% in 2008.
123jump.com Staff
02 Feb, 2009
New York City
Stocks in Tokyo trading declined 1.5% after Hitachi estimates a loss in the current year. The sharp reversal in the estimate from profit only highlights the widening global recession affecting trade between Japan, China and the U.S. In another confirmation, the office vacancy rose in Tokyo.
123jump.com Staff
02 Feb, 2009
New York City
Manufacturing in Australia declined in January as miners and supporting businesses shrink production. The sharp fall in the index shows a rapid widening of the slow down in the economy. A separate report showed that home prices in the last quarter ending in December declined in eight large cities.
