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Market Update

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

Second Day 2% Drop in Stocks in India

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

Stock prices declined after foreign investors sold stocks and repatriated capital to home market. The benchmark index declined more than 2% for the second day in a row. The foreign fund outflow is expected to rise as emerging markets remain depressed.

HK Property Sales Fall, HBSC Plunges 19%

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

Hong Kong property sales fall 12.4% to February. HSBC fell 18.8% or $17 billion in market capitalization after it reported a sharp drop in earnings and offered to raise nearly $18 billion at 51% discount from the stock price.

Toyota $2 Billion Loan Assistance

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

Japan stock indexes fell after automaker Toyota Motor Corp. asked for an emergency bailout package from the Japan Bank for International Cooperation as slowing global demand continue to affect production and squeeze margins. Toyota to ask for $2 billion loan.

Australia Holds Rates, Retail Sales Weak

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

Australia keeps interest rates unchanged at 3.25%. Australia retail sales increase 0.2% to A$19.2 billion in January. Current account deficit falls 32% to A$6.5 billion in December quarter.

Lowe

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

The home improvement retailer quarterly sales dipped 3.8% to $10 billion on comparable store sales fall of 9.9%. Net earnings plummeted 60% to $162 million in the quarter and earnings per share declined to 11 cents from 28 cents a year-ago quarter. The company opened 33 stores during the quarter.

United Natural Foods Q2 Earnings Call Transcript

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

The food distributor quarterly net sales rose 2% to $847.6 million. Net income increased 50% to $13.6 million in the quarter. Earnings per share rose to 32 cents from 21 cents a year ago quarter. The company estimates earnings per share between $1.28 and $1.36 in fiscal 2009.

World Markets Plunge; AIG Loss, HSBC Offering

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

World markets dropped as earnings worries, deepening economic crisis and as some of the largest banks and industrial companies fell sharply in New York. Markets in U.S., UK, Switzerland, Brazil and Argentina dropped more than 4%.