123jump.com Staff
07 Nov, 2008
New York City
Stocks in Mumbai rose after a week of volatile trading. The IMF lowered growth projections for India, Europe, Australia and the U.S. and said that emerging markets will still lead the world economic growth but at a slower pace. Local banks lowered interest rates on loans. Rupee gains 4% in the week.
123jump.com Staff
07 Nov, 2008
New York City
Stocks in Hong Kong rose 3.3% and in Shanghai gained 1.7% on higher trading volume. The HKMA reported that foreign exchange reserve declined in October to $155 billion from $160 billion. Banks and real estate companies increased. Hong Kong Exchange dropped on broker comments.
123jump.com Staff
07 Nov, 2008
New York City
Global economic worries and lowered IMF estimates of global growth played into early sell-off of 7% in Tokyo trading. Stocks recovered to close down 3.6% for the day and 0.1% for the week. Japan Airlines second quarter operating profit fell to 26.3 billion yen from 65 billion yen a year ago.
123jump.com Staff
07 Nov, 2008
New York City
Australian stocks fell 2.3% after the IMF lowered the growth estimate for the country to 1.8%. Australia offered emergency funding of A$22 million to ABC Learning Centers, the child care company in voluntary administration.
123jump.com Staff
07 Nov, 2008
New York City
Revenues net of interest expense rose 3% to $7.2 billion from $7.0 billion a year ago. Income from continuing operations declined 23% to $861 million from $1.1 billion a year ago. Diluted earnings per share from continuing operations declined 21% to $0.74 from $0.94 a year ago.
123jump.com Staff
07 Nov, 2008
New York City
October unemployment rate rose to 6.5% from 6.1% in September. The U.S. economy has lost 1.2 million jobs in the first ten months in the year. Total number unemployed stand at 10.1 million. Ford Motor reported a fall in revenue and a higher quarterly loss. Disney net in the quarter dropped.
123jump.com Staff
06 Nov, 2008
New York City
U.S. stocks plunged nearly 5% on the second day in a row after Cisco lowered its sales outlook, initial claims of unemployment were at elevated levels and same store sales at retailers fell. The ECB, Bank of England and Swiss National Bank lowered key lending rates. Toyota plunged on earnings.
123jump.com Staff
06 Nov, 2008
New York City
The Bank of England sharply lowered its key lending rate by 1.5% to 3%. The larger than anticipated rate cut was overshadowed by fall in metals and energy prices. The negative sentiment dragged stocks in UK lower by 6% and in Europe more than 5%.
123jump.com Staff
06 Nov, 2008
New York City
Visa Inc., the largest retail electronic payments network posted strong fiscal fourth quarter results on higher global volumes and strength of U.S. charges. The adjusted diluted earnings in the fourth quarter was $448 million or 58 cents a share and for the year was $1.7 billion or $2.25 a share.
123jump.com Staff
06 Nov, 2008
New York City
Las Vegas Sands plunged on loan default and bankruptcy filing possibilities. Whole Foods rose after earnings and capital injection from a private equity fund. Toyota Motor dropped after it lowered earnings outlook. Cisco offered weak sales outlook. Cott Corp dropped 17% on a net loss.
123jump.com Staff
06 Nov, 2008
New York City
Stocks in Mumbai fell after the annual wholesale inflation at the end of third week in October rose to 10.7%. The increase in inflation is likely to limit future rate cuts from the Reserve Bank of India. Foreign investors continue to sell stocks in India. Oil meal exports from India dropped 40%.
123jump.com Staff
06 Nov, 2008
New York City
Australian stocks plunged 4% after the U.S. private sector employment report. Commodities and energy prices dropped as well. Australia employment adjusted for seasonal factors rose in October, unexpectedly. Media conglomerate News Corp first quarter net dropped to $515 million from $732 million.
123jump.com Staff
06 Nov, 2008
New York City
Stocks in Hong Kong dropped 7% and in Shanghai declined 2.5% after higher than expected private sector job losses in the U.S. Japan and other markets in Asia fell as well. Cathay Pacific warned that fuel hedging contract will cost the company $360 million.
123jump.com Staff
06 Nov, 2008
New York City
Stocks in Japan fell sharply on the weak earnings outlook from Toyota and sell off in the U.S. markets. Toyota Motor net revenue declined 6.3% in the first half and estimated annual profit to drop 68%. Isuzu Motors net in the first half fell 19% and lowered annual profit outlook.
123jump.com Staff
06 Nov, 2008
New York City
U.S. stocks traded lower after Cisco estimated sales decline of 10% in the current quarter and News Corp reported weak results. European markets fell despite a rate cut in the region. The ECB and Swiss National Bank cut rate by 50 basis points and the Bank of England lowered it by 150 basis points.
