123jump.com Staff
12 Dec, 2008
New York City
November retail sales in China surged at 21%, but at a slower pace than in October and September. Year to date retail sales increased at 22%. Consumer prices in China rose at 2.4% rate in the month and year to date prices increased 6.3% from a year ago period. Stocks in Hong Kong dropped 5.5%.
123jump.com Staff
12 Dec, 2008
New York City
Stocks in London dropped 2.6% after mortgage lender HBOS reported larger than expected loss in the interim period. Majority shareholders approved merger of the troubled lender with Lloyds TBS Group. UK is likely to provide second stimulus package as reluctant banks are not increasing lending.
123jump.com Staff
12 Dec, 2008
New York City
Industrial production in India drops 0.4% in October as domestic economy slows. Foreign investors were net buyers of stocks in the last four weeks. World Bank is expected to lend $14 billion over the next three years to step up infrastructure development in poor states.
123jump.com Staff
12 Dec, 2008
New York City
European markets traded sharply lower and Japan dropped more than 5% after the U.S. Senators failed to agree on need for a bailout for the auto makers. Japanese auto makers dropped on the worries that parts suppliers in the U.S. may not be able to survive and crimp their production abilities.
123jump.com Staff
12 Dec, 2008
New York City
American Eagle Outfitters, apparel retailer reported sales for the third quarter increased 1% to $754.0 million. Comparable store sales decreased 7%. Net income declined to $42.60 million or $0.21 per share compared to $99.43 million or $0.45 per share a year ago.
123jump.com Staff
12 Dec, 2008
New York City
Stocks in Tokyo plunged after the U.S. auto bailout discussions failed to produce a consensus among the U.S. Senate Republicans. Stocks plunged 5.6% but for the week rose 4%. Japanese automakers dropped sharply on the worries that U.S. auto parts makers that supply to Japanese companies may suffer.
123jump.com Staff
10 Dec, 2008
New York City
National Institute for Economic and Social Research noted that the UK output fell 1% in the quarter to November from a revised forecast of 0.8% in the three months to October, as the rate of output decline accelerates. Rio Tinto will expand its divestment program and pay down its $10 billion.
123jump.com Staff
09 Dec, 2008
New York City
Canadian Solar, solar panel maker third quarter revenues rose 160% to $252.4 million for the third quarter. Net income surged to $11.1 million or $0.31 per diluted share compared to $0.52 million or $0.02 per share a year ago. The company estimates annual revenue of $650 to $750 million.
123jump.com Staff
11 Dec, 2008
New York City
Financial software maker reported first quarter net loss of $52.1 million compared or 16 cents per share compared to a loss of $20.8 million or 6 cents a share in the year ago quarter. Revenue rose 8% to $481 million. For the second quarter, the company estimated diluted earnings per share between $0.30 and $0.32.
123jump.com Staff
10 Dec, 2008
New York City
Stocks in India rose on the hopes that global and local stimulus package will sustain economic expansion and corporate earnings growth. Recent rate cuts are likely to increase lending for home buyers and small businesses. Rupee strengthned against dollar. Real estate, banks and IT stocks advanced.
123jump.com Staff
11 Dec, 2008
New York City
U.S. international trade deficit widened in October as exports fell more than imports. Seasonally adjusted initial unemployment claims at the end of last week rose 58,000 to 573,000 from the previous week claims of 515,000. Bank of America said it will cut up to 30,000 jobs in the next three years.
123jump.com Staff
11 Dec, 2008
New York City
Foot Locker, an athletic retailer reported net income of $24 million or $0.16 per share for the third quarter compared with net loss of $33 million or $0.22 per share last year. Comp store sales decreased 1.7% and 2008 earnings excluding impairment charges are estimated between 50 and 63 cents.
123jump.com Staff
11 Dec, 2008
New York City
Dress Barn first quarter net earnings increased to $20.5 million or 32 cents a share, compared to $19.6 million or 30 cents a share in the quarter a year ago. Sales increased 3% to $376.4 million. The company expects full year earnings per share between 90 cents to $1.00.
123jump.com Staff
11 Dec, 2008
New York City
Ann Taylor specialty apparel retailer third quarter net loss of $13.4 million or $0.24 per share, compared to net income of $40.8 million or $0.66 per share a year ago. Net sales declined 12% to $527.2 million from $600.9 million in the quarter a year ago. Comparable same store sales declined 19.4%.
123jump.com Staff
11 Dec, 2008
New York City
China foreign trade rises in the first eleven months 29% from a year ago but faced a sharp deceleration in November. The latest data showed exports in the month declined 2.2%, first decline since June 2001. Imports declined at a faster pace indicating slowdown in domestic economy.
