123jump.com Staff
13 Jan, 2009
New York City
Stocks in Australia continued their slides as metals and oil prices decline in the region. Sydney benchmark index declined nearly 1% and resource and financial stocks led the decliners. Rio Tinto delayed the second project mining project as the worldwide slowdown intensifies.
123jump.com Staff
12 Jan, 2009
New York City
U.S. stocks declined on the earnings worries and weakening economic sentiment. Alcoa Inc after the close, reported its first quarterly loss. Crude oil plunged 8% and metals prices fell sharply. Gold, silver and copper declined. Russia devalued its currency and may be forced to do more.
123jump.com Staff
12 Jan, 2009
New York City
The UK stocks closed lower as prices of metals and crude oil declined. Financial companies in an industry survey reported a sharp decline in income, profitability. Businesses and consumers are still struggling to get loans from lenders. Scottish Court approved Lloyds TSB and HBOS merger.
123jump.com Staff
12 Jan, 2009
New York City
Stocks in Mumbai trading fell on the worries that more companies are behind in keeping high corporate governance standards. The BSE reported that nearly 1,200 companies may be in violation in filing such reports. In another blow, Wipro was barred by the World Bank in doing business with it.
123jump.com Staff
12 Jan, 2009
New York City
Russia, battling a sharp drop in crude oil prices, lack of foreign investors confidence and worsening capital flight devalued the currency 2% over the weekend. The ruble is likely to drop as much as 15% in the next six months if oil stays below $50 a barrel.
123jump.com Staff
12 Jan, 2009
New York City
Crude oil futures for the immediate month delivery fell after Saudi Arabia lowered its production target below OPEC-agreed target by 300,000 barrels a day. Oil traded as low as $38.20 a barrel in the morning trading but March and April months futures are trading at 15% and 20% premia.
123jump.com Staff
12 Jan, 2009
New York City
Citigroup is at advanced state of discussion to sell a controlling stake in Smith Barney to Morgan Stanley. The newly merged brokerage operation will be jointly owned by two battered investment banks. The merged operation is expected to be valued at $20 billion.
123jump.com Staff
12 Jan, 2009
New York City
Stocks in Hong Kong fell and in Shanghai edged higher as business climate deteriorated. The latest survey in China indicated weakening confidence and a decline in business activities across all industrial sectors. Casino stocks rebounded after the expected travel visa restrictions were not imposed.
Darlington Musarurwa
12 Jan, 2009
New York City
Australia job placements ads drop 9.7% in December. Job placement ads in the metropolitan cities declined sharply as businesses scale back hiring. Rio Tinto shelves $2.15 billion plan to explain iron ore mining in Brazil. Stocks in Sydney trading fell with the benchmark index ASX 200 declining 1.4%.
123jump.com Staff
11 Jan, 2009
New York City
The mining equipment maker sales surged 40% to a record $1 billion and net income was $118 million or $1.11 a share compared to $70 million or $0.64 a share last year. New orders were $1.2 billion. The company expects earnings per share between $3.60 and $4.00 in 2009.
123jump.com Staff
11 Jan, 2009
New York City
The electronics retailer reported sharp drop in profit for the third quarter despite a 16% revenue growth. The company had net earnings of $52 million or 13 cents per share sharply lower than $228 million or 53 cents per share in the prior year quarter.
123jump.com Staff
10 Jan, 2009
New York City
Business process services third quarter revenues were $170 million and net earnings of $7.6 million, or $0.21 per diluted share, compared to revenues of $174.8 million and earnings of $7.8 million, or $0.20 per diluted share. Full year earnings a share expected to be in the range of $0.71 to $0.76.
123jump.com Staff
10 Jan, 2009
New York City
LookSmart, an online advertising network reported revenue for the third quarter surged 37% to $15.4 million. Revenues from the advertiser network increased 39% to $13.9 million and revenue per click decreased to 8 cents from 12 cents. Net loss was $1.6 million or $0.10 a share.
123jump.com Staff
10 Jan, 2009
New York City
The luxury home builder fourth quarter revenues declined to $698.9 million and net loss was $78.8 million or $0.49 a share including pre-tax write-downs of $175.9 million. The company ended fiscal year 2008 with 273 selling communities and estimates to deliver between 2,000 and 3,000 homes in fiscal 2009.
123jump.com Staff
10 Jan, 2009
New York City
The national closeout retailer quarterly net sales declined 0.9% to $1.02 billion and comparable store sales decreased 0.2%. Net income was $12.25 million or $0.15 a share, compared to $14.30 million or $0.14 a share in the prior-year quarter.
