123jump.com Staff
22 Dec, 2008
New York City
Tokyo stock market averages jumped more than 1.6% after the Bank of Japan expanded its asset purchase plan to commercial debts. November exports from Japan dropped 27%. Toyota cut its net income for the fiscal year by 91% and projected operating loss. Sales estimates were cut by 18%.
123jump.com Staff
22 Dec, 2008
New York City
Central bank in China lowered interest rate for the fifth time in a row however, the size of rate cut surprised most economists. China is still hoping that economic stimulus, rate cuts and reduced cash reserve ratios will sustain economic growth at 8%.
123jump.com Staff
20 Dec, 2008
New York City
RiM revenues surged 66% to $2.8 billion. Net income increased 7% to $396 million or 69 cents a share. Nearly 2.6 million net new BlackBerry subscriber accounts were added. The Company estimated revenues between $3.3 billion and $3.5 billion and earnings per share of between $0.83 and $0.91.
123jump.com Staff
19 Dec, 2008
New York City
U.S. stocks staged a reversal of nearly 2% despite President offering emergency loans to GM and Chrysler. Bank of Japan lowered its key rate to 0.1% and expanded its role in purchasing government and corporate debt. HSBC Holdings dropped after S&P downgraded debt ratings of financial institutions.
Mayank Mehta
19 Dec, 2008
New York City
Research in Motion surged after it reported 66% increase in sales and 7% rise in earnings in the latest quarter. Cintas dropped 12% and led decliners in S&P 500 index after it settled with a government agency for safety violations. Fluor Corp declined on an analyst downgrade.
123jump.com Staff
19 Dec, 2008
New York City
Carnival, the largest cruise operator fourth quarter revenues gained 6% to $3.30 billion. Net income increased to $371 million or $0.47 a share compared to $358 million or $0.44 a share a year ago quarter. In the year the capacity increased 8.9% and net revenue yield in constant dollar rose 2.4%.
123jump.com Staff
19 Dec, 2008
New York City
FedEx second quarter earnings increased 3% to $ 493 million or $1.58 a share from $479 million or $1.54 a share a year ago. Revenue increased 1% to $9.54 billion. The company plans to eliminate $200 million costs in the quarter to generate $1 billion in annual savings.
123jump.com Staff
19 Dec, 2008
New York City
President Bush offered emergency loan of $13.4 billion to General Motors and Chrysler and additional $4 billion may be released after March of next year if two auto companies provide a restructuring plan. The decision lifted stocks of the companies and stock market indexes but tough road lies ahead.
123jump.com Staff
18 Dec, 2008
New York City
Zale, a specialty jewelry retailer reported first quarter revenues declined 3.5% to $364 million. Net loss from continuing operations was $45.3 million or $1.43 per share compared to $26.7 million or $0.54 per share last year. Comp stores sales decreased 3.7%.
123jump.com Staff
18 Dec, 2008
New York City
U.S. stocks fell after S&P put General Electric debt on watch with negative outlook. The surprise announcement turned trading sentiment negative. In addition, crude oil futures dropped 9.6% to $36 a barrel.
Mayank Mehta
18 Dec, 2008
New York City
U.S. stocks declined with leading indicators down 1%. Of the stocks in S&P 500 index, 274 declined, 221 increased and 5 rose. MEMC Electric fell on lowered sales outlook. Discover Financial surged on better than expected earnings. A fall in oil prices dragged oil complex stocks and steel makers.
123jump.com Staff
18 Dec, 2008
New York City
UK retail sales in November rose 0.3% from October. The unexpected rise in sales was supported by a rise in sales of food, household goods and other items. The pound falls to a record low against the euro on the expectations of a drop in interest rates and high government borrowings.
123jump.com Staff
18 Dec, 2008
New York City
Annualized inflation rate in India falls to 6.84% at the end of the first week in December. Indian government is seeking additional $9 billion for fiscal spending in year through March 2009. The benchmark Sensex index closes above 10,000.
123jump.com Staff
18 Dec, 2008
New York City
Leading Australian banks caution shareholders of rising bad debt expenses in 2009. Slowing economy and weak job market are expected to increase bad debt expenses at Commonwealth Bank to 60 basis points from 40. ANZ also cautioned of rising expenses.
Darlington Musarurwa
18 Dec, 2008
New York City
Japan stocks rise on interest rate cut hopes. Winter bonuses fall 0.4%, a decline for the first time in six years. Auto sales in 2009 are expected to fall below 5 million vehicles for the first time in 31 years.
