Darlington Musarurwa
26 Nov, 2008
New York City
Stocks in Japan closed lower on falling domestic electronics sales and a sharp decline in U.S. home prices. Investors in Japan are looking for clues for the depth and length of the U.S. recession and its impact on the exports from Japan. Toyota debt rating was lowered to AA from AAA.
Mayank Mehta
26 Nov, 2008
New York City
Borders Group dropped 52% after the third quarter net loss widened to $175.4 million. BCE Inc, the largest Canadian telecom operator may not be able to complete its privatization plan. Deere & Company dropped 12% on a drop in fourth quarter earnings. Genworth continues its slide.
123jump.com Staff
26 Nov, 2008
New York City
The bulk cargo ocean carrier in a preliminary restatement of statements revised accounting of derivatives, hedging of currencies and interest rate risks. The company is currently reviewing its long term incentives for management. The company will book higher liabilities related to joint ventures.
123jump.com Staff
26 Nov, 2008
New York City
U.S. stocks edged lower after the new home sales plunged 40% from a year ago in October. The new orders for durable goods orders declined 6.2% in October and orders excluding volatile transportation dropped 4.4%. Stocks in the early hours traded sideways.
Mayank Mehta
25 Nov, 2008
New York City
BHP Billiton rises and Rio Tinto plunges after BHP withdrew its hostile offer. Chicos, American Eagle, Talbots and Citi Trends rose after the release of earnings. China Finance rose 23% on 109% quarterly revenues gain. Genworth plunges 23%. Goldman Sachs soars 6.5%. Lennar and Horton surge.
Darlington Musarurwa
25 Nov, 2008
New York City
BHP Billiton drops hostile merger plan with Rio Tinto on difficult financing conditions. U.K. mortgage origination in October plunges 52%. Business investment in the third quarter falls 0.2% to
123jump.com Staff
25 Nov, 2008
New York City
Stocks in Mumbai fell on the worries that rising government spending will widen fiscal deficit and global markets weakness will slow exports growth. The economy is likely to grow at a slower pace between 6.5% and 7.5% in the current fiscal year. Reliance Industries drops 8% to 1,050 rupees.
123jump.com Staff
25 Nov, 2008
New York City
U.S. stocks edged higher after the Fed extended yet another loan facilities to lift asset and mortgage based markets. The latest move offers up to $800 billion in loan purchases and extends the Fed balance sheet to a new limit. The third quarter GDP decline was revised to 0.5%.
123jump.com Staff
25 Nov, 2008
New York City
Stocks in Australia surged 6% after metals and oil prices rallied. The second rescue package for Citigroup lifted the mood in trading and China plan to invest directly in the local stocks lifted trading sentiment. Qantas plans to cut its capacity and said it hedged fuel for 2009 at $106 a barrel.
Darlington Musarurwa
25 Nov, 2008
New York City
Stocks in Hong Kong surged on the second rescue package for Citigroup. World Bank lowered its annual economic growth target for China to 7.5%. China is considering investing as much as 10% of total market capitalization in local markets.
123jump.com Staff
25 Nov, 2008
New York City
Stocks in Tokyo rallied tracking the gains in the U.S. following the Friday holiday. Banks gained after the U.S. extended second rescue package to Citigroup. The Bank of Japan lowered its domestic economy assessment. Panasonic to pay $5.2 billion for a majority stake in Sanyo Electric.
123jump.com Staff
25 Nov, 2008
New York City
The Federal Reserve extended up to $800 billion of loan facilities to the mortgage and asset based backed loans market. The Fed is quickly running out of alternatives and is now deeply engaged in buying riskier loans and appears to take risk that most banks failed to manage.
123jump.com Staff
24 Nov, 2008
New York City
Church & Dwight reported third quarter net income of $49 million and earnings per share of 69 cents a share compared to $51.7 million and 75 cents a share in the prior year period on higher gross margin. The company forecast earnings per share between $2.83 and $2.85 for the full year.
123jump.com Staff
24 Nov, 2008
New York City
PetSmart, third quarter revenue increased 12% to $1.3 billion and net profit rose to $35.8 million or 28 cents a share compared to $29.5 million or 23 cents a share in the same quarter a year ago. Comparable store sales grew 5.4%.
123jump.com Staff
24 Nov, 2008
New York City
Stocks in Australia edged higher after gold and other metal prices gained. The surge in gold price lifted stocks of mining companies. Financial stocks rose as well after the U.S. decided to bailout Citigroup for the second time in less than two months.
