Mayank Mehta
11 Dec, 2008
New York City
Urban Outfitters indicated flat sales in November and weak holiday sales environment. Gildan Activewear declined after it missed fourth quarter earnings and estimated sharply lower than expected earnings in the current quarter. lululemon Athleticca dropped on weaker than expected earnings.
123jump.com Staff
10 Dec, 2008
New York City
Rio Tinto, Australia based mining giant will eliminate 14,000 jobs and lower its debt further by $10 billion by the end of 2009. Falling metals prices and weakening demand is expected to cut sales and profit at the company in 2009. Australian stocks gained 1%.
Darlington Musarurwa
10 Dec, 2008
New York City
Machinery orders in Japan dropped 14.4% in October as the domestic economy slumps on weakening export orders. Stocks in Tokyo rose 3.2% on the hopes that the U.S. will soon offer a bailout plan of $15 billion to automakers. Beer and brewed beverages shipment dropped 8% in the month.
123jump.com Staff
10 Dec, 2008
New York City
Producer price index in China dropped to 2% increase in November from 6.6% rise in October. Fort the year, the index rose 7.6%. Foreign direct investment in November dropped 37% to $5.3 billion in China and for the year rose 26.5% in 11 months to $86.4 billion.
123jump.com Staff
09 Dec, 2008
New York City
UK stocks rose after traders speculated that global economic growth may revise next year on a large economic stimulus in the U.S., China and India. UK manufacturing dropped 1.8% in three months to October. Latest survey of estate agents shows weak housing market on the lack of home buyers.
123jump.com Staff
09 Dec, 2008
New York City
Westpac plans to raise A$2.5 billion to raise its capital. Australian business conditions decline in November. Industry group forecasts sharply lower economic growth in 2009 but not a recession.
123jump.com Staff
09 Dec, 2008
New York City
Japan revised its quarterly economic decline to 1.8% from the previous estimate of 0.4%. Sony Corp plans to eliminate 5% of its worldwide staff and save 100 billion yen by the end of fiscal 2010. The company will also trim its invetsment and manufacturing in Europe.
123jump.com Staff
09 Dec, 2008
New York City
Hong Kong stocks fell after rallying on Monday. Hong Kong foreign reserves soared to $166 billion, eight largest in the world. Commodities and mining related stocks gained but financials and realty stocks declined. shippers and related stocks rose on a rise in freight price index.
Trupti Mehta
09 Dec, 2008
New York City
H&R Block, Inc second quarter revenues fell 1.5% to $351.5 million and net loss was $135.9 million or 41 cents a share. National Semiconductor Corporation second quarter sales fell 16% to $421.6 million and net income fell 63% to $33.9 million or 14 cents a share.
Mayank Mehta
08 Dec, 2008
New York City
Stocks surged on the hopes that new administration will provide more than $600 billion in economic stimulus as early as January. Of the stocks in S&P 500 index 421 gained, 77 declined and 2 were unchanged. The 26 stocks in Dow gained and 4 declined. Infrastructure and industrials led the rally.
123jump.com Staff
08 Dec, 2008
New York City
Stocks in Australia surged. Job postings dropped 8.6% in November and in metropolitan newspapers plunged 12%. Stocks surged after news reports suggested China National Petroleum may bid for Santos in partnership with foreign oil company.
123jump.com Staff
08 Dec, 2008
New York City
Tokyo stocks surge on optimistic outlook for the U.S. stimulus plan from President-elect Obama. Bank lending increased in November at a fastest pace in 16 years. Construction equipment makers surged on the optimism that the U.S. stimulus plan will increase exports.
123jump.com Staff
08 Dec, 2008
New York City
Reserve Bank of India cut repo rate by 1% to 6.5% over the weekend and Indian government broadened and enlarged its stimulus package. The government will offer cheaper credit to exporters and home buyers. Small businesses will have access to more credit through a separate program. Stocks Surged.
123jump.com Staff
08 Dec, 2008
New York City
The home improvement retailer quarterly sales increased 1.4% to $11.7 million. Earnings per share fell 23% to $0.33 from a year ago of 43 cents. In the quarter total customer count increased 3.4% but average ticket declined 2% to $65.64. Comparable transactions decreased 3.5%.
123jump.com Staff
08 Dec, 2008
New York City
U.S. stocks surged on optimism that new administration will provide a large government stimulus to arrest faltering economy. At least today, investors are overlooking forces that will stoke inflation in the years to come. On Sunday, India lowered its lending rates. Oil and metals prices rise.
