Darlington Musarurwa
04 Feb, 2009
New York City
Tokyo stocks charged ahead on the hopes that recent market share gains by the automakers in the U.S. will sustain exports. Panasonic third quarter operating profit declined 84% and sales dropped 20%. The company estimated loss of $4.2 billion and plans to cut 15,000 jobs.
123jump.com Staff
03 Feb, 2009
New York City
U.S. stocks rebounded on the hopes that the government will soon increase its efforts to forestall the widening recession and looming job losses. Vodafone sales rise lifted telecom and broader market indexes in European trading.
123jump.com Staff
03 Feb, 2009
New York City
SanDisk Corp plunged after it reported larger than expected loss. DR Horton surged after it reported narrower loss on cost cutting. Motorola declined 9% after it reported fourth quarter loss on a charge related to mobile handset division. UPS rose 4.6% after it reported profit.
123jump.com Staff
03 Feb, 2009
New York City
The stocks in UK and in Europe closed higher after a reversal in the afternoon trading. Vodafone reported better than expected sales increase, largely based on the strength in new customers in India. The Bank of England and the U.S. Fed agreed to extend the terms of currency swap arrangement.
123jump.com Staff
03 Feb, 2009
New York City
European stocks gained after earnings from Vodafone lifted telecom sector. Earnings in Germany and in France lifted mood in trading on smaller than expected loss at Heidelberg Druck. BNP Paribas dropped on the worries that merger of Fortis assets may be delayed.
123jump.com Staff
03 Feb, 2009
New York City
Sales of automobiles in India declined in January on tight lending conditions and weak consumer confidence. Tata Motors sales dropped 33% and Mahindra Mahindra sales fell 21%. Market leader, Suzuki sales rose on demand for smaller cars.
123jump.com Staff
03 Feb, 2009
New York City
China offered yet another stimulus package this time focused on low income housing, healthcare and education sectors. Trade between Hong Kong and Mainland China rises by 3.3%. Property stocks declined as more home loans fall in negative equity status in Hong Kong.
Darlington Musarurwa
03 Feb, 2009
New York City
The Reserve Bank of Australia lowered its key lending rate by 100 basis points to 3.25%. The bank gave a weak economic conditions outlook. Separately, Australia unveiled A$42 billion plan to create jobs and investment in infrastructure. Stocks edged higher.
123jump.com Staff
03 Feb, 2009
New York City
The Bank of Japan announced a plan to buy liquid stocks and other highly rated securities from banks that are battered by rising losses. The latest move by the Bank of Japan will add more capital in the financial system and may spur lending. Banks have been reluctant to lend. Denso forecasted loss.
123jump.com Staff
02 Feb, 2009
New York City
Microsoft quarterly revenue edged up 2% to $16.6 billion and net income declined 11% to $4.17 billion or 47 cents per share. Online services business revenue was flat, although online advertising revenue was up 7%. The company plans to lay off 5,000 people in the next eighteen months.
123jump.com Staff
02 Feb, 2009
New York City
The fertilizer sales in the quarter rose 30.7% from a year ago but plunged 30% from the third quarter to $1.87 billion. Net earnings surged 109.1% to $ 788 million and earnings per share surged 120.6% to $2.56. The company expects first quarter earnings in the range of $0.70 to $1.00 per share.
123jump.com Staff
02 Feb, 2009
New York City
Fashion accessory retailer second quarter sales declined 2% to $960 million and income declined 13.9% to $217 million. Earnings per share declined to 67 cents from 69 cents in the prior year as same-store sales for the quarter declined 13%.
123jump.com Staff
02 Feb, 2009
New York City
The financial services firm revenue decreased 1% to $17.2 billion and quarterly net income plunged 92% to $702 million. Earnings per share dropped to 7 cents from 86 cents last year. The company extended new credit of over $100 billion in the quarter.
123jump.com Staff
02 Feb, 2009
New York City
European stocks fell after nervous investors worried about banks and earnings in the industrial sector. The euro edged lower and Russian ruble dropped to a 11-year low. A ratings downgrade for Barclays dragged banks in the region and most French banks dropped between 10% and 14%.
123jump.com Staff
02 Feb, 2009
New York City
U.S. stocks declined afer a manufacturing index indicated shrinking activities in the sector. The weak earnings and more layoffs unnerved investors. The second largest retailer Macy''s eliminated 7,000 jobs and cut dividend per share to 5 cents from 13.25 cents and buyback $950 millions of bonds.
