Mayank Mehta
26 Dec, 2008
New York City
Retailers edged lower after weaker than expected holiday sales. Jones Apparel surged after it revised its credit facility. Crude oil price rise lifted oil complex stocks. Of the stocks in S&P 500 index, 299 increased, 188 declined and 13 were unchanged.
123jump.com Staff
26 Dec, 2008
New York City
Holiday sales appear to be weaker than earlier estimated in the U.S. The latest report for the period ending on Dec 24, estimated sales decline of 8.8% including gasoline. Luxury, electronics and apparel sales declined the most. Large discounts of more than 60% have failed to pull more shoppers.
123jump.com Staff
26 Dec, 2008
New York City
Teen apparel retailer net sales in the quarter increased 17% to $482 million and same-store sales increased 7%. Net earnings a share surged 31% to $0.63 and net income increased 18% to a record $42.6 million. The fourth quarter earnings are estimated between $0.84 and $0.90 a diluted share.
123jump.com Staff
25 Dec, 2008
New York City
The second largest life insurer in Japan plans to demutualize the company and raise $11 billion in a global offering. The 106 year old insurance company is looking to improve its investment returns. The 11 trillion yen offering will be managed by Nomura Holdings, Merrill Lynch and Mizuho Financial.
123jump.com Staff
25 Dec, 2008
New York City
Vietnam devalues its currency as the current account deficit rises, economic growth slows and export fall faster than anticipated. The State Bank of Vietnam relaxed the trading band for the currency to 3% as exports of garments, shoes and toys stagnate. For the year the dong has fallen 5.5%.
123jump.com Staff
25 Dec, 2008
New York City
The office supply retailer reported a 34% surge in revenues to $7 billion, including $2 billion from Corporate Express. Net income declined 43% to $157 million, and earnings per share decreased 42% to $0.22. Corporate Express acquisition generated synergies of $300 million.
123jump.com Staff
24 Dec, 2008
New York City
U.S. stocks edged higher after crude oil plunged. Japan Cabinet approves largest spending budget. The pound falls against euro and the dollar. China international trade expected to grow 18% in the year. GMAC, the lending arm of General Motors was approved as a bank after the close.
123jump.com Staff
24 Dec, 2008
New York City
The British pound fell against the euro and the dollar after private survey indicated home prices in 2009 may drop as much as 15%. AstraZeneca declined after the U.S. requested more information on its depression treatment drug. Taylor Wimpey received a relief from certain debt covenants.
123jump.com Staff
24 Dec, 2008
New York City
Mumbai stocks fell on low trading volume along with weak trading in Asia. Rupee gained against the dollar. Telecom sector was the active in the year with a deal total of $9 billion. Tata Motors fell 7% after UK based Jaguar and Land Rover will need additional $1 billion of capital.
Mayank Mehta
24 Dec, 2008
New York City
New York Times falls after November revenues decline. Micron Technology recovered from earlier losses after it reported a fall in quarterly revenues and wider loss. Of the stocks in S&P 500 index, 345 increased, 151 decreased and 4 were unchanged.
123jump.com Staff
24 Dec, 2008
New York City
The solar panel material maker revenues increased 73.1% to $325.5 million and net income declined 15.8% to $22.2 million and earnings per share of 17 cents. The company guided PV module shipment and net revenue targets for the fiscal year of 2008 of 270 to 280 mw and $1.05 billion to $1.1 billion.
123jump.com Staff
24 Dec, 2008
New York City
The home builder reported wider net loss of $799.9 million or $2.53 per share in the quarter. Cancellation rate of orders was 47%. Total sold homes declined to 6,961 from 11,733 and average closing price declined 12% to $221,900. In the quarter the builder sold land and lots for $209 million.
123jump.com Staff
24 Dec, 2008
New York City
The troubled Chinese dairy, Sanlu Group was declared bankrupt by Hebei provincial court after it was closed in September for selling tainted milk formula. Hong Kong visitors in November declined 1.1% and weakness in tourism sector is likely to continue in 2009. China foreign trade gains 18% in 2008.
123jump.com Staff
24 Dec, 2008
New York City
The Cabinet in Japan approves the largest budget for the fiscal year beginning next April. The budget increased 6.6% despite a fall in tax receipts. The government proposes to spend more for pensioners, payment to states and for emergency economic fund. Denso lowered its annual profit estimate.
123jump.com Staff
24 Dec, 2008
New York City
Australian banks increase fees and charges collected from loan issuances for mortgages, personal loans and credit cards. The banks have increased charges as rates have been lowered. Instead of cutting management salaries and operating costs banks have looked at customers to collect more revenues.
