123jump.com Staff
04 Nov, 2008
New York City
The larger than expected interest rate but by the Reserve Bank of Australia of 75 basis points to 5.25% only highlighted the vulnerabilities of the Australian economy. The RBA hinted that further rate cuts are possible if the global economic conditions do not stabilize.
123jump.com Staff
03 Nov, 2008
New York City
U.S. stocks traded sideways ahead of the U.S. presidential election. Manufacturing index showed a sharp deceleration in activites and a drop in exports in October. Auto sales in the month fell 32% to the level last seen in January 1991. The sales at GM dropped 45% at Toyota declined 23%.
123jump.com Staff
03 Nov, 2008
New York City
Australian stocks surged on the hopes that the Reserve Bank of Australia will lower rates tomorrow. The listing for new jobs placement declined in October, home prices fell 1.8% and manufacturing declined in the month. Australian dollar gained to close at 66.02 cents to a dollar.
123jump.com Staff
03 Nov, 2008
New York City
Hong Kong stocks surged 2.7% after Peoples Bank of China spokesperson said that banks are no longer constrained by monthly loan quotas. The relaxed lending environment is expected to provide liquidity to small and medium businesses. China Unicom fell 7% on the merger worries with China Netcom.
123jump.com Staff
03 Nov, 2008
New York City
Third quarter revenues declined 7% to $15.3 billion from $16.5 billion in the prior year. Net income declined 38% from $1.1 billion to $695 million, a year ago. Earnings per share declined 33% to $0.96 per share from $1.44 in the prior year. Backlog rose 7% to a record $349 billion.
123jump.com Staff
03 Nov, 2008
New York City
Stocks in London trading rose 1.5% after metal and commodities prices gained. Of the FTSE 100 index stocks, 80 rose, 19 declined and 3 were unchanged. Rising pound and weak demand in international markets dragged manufacturing index lower in October. The sixth monthly decline in a row.
123jump.com Staff
03 Nov, 2008
New York City
The surprise rate cut by the Reserve Bank of India this weekend lifted stocks in Mumbai trading. Autos, financials and realty stocks rallied. Rupee rose to 49 from 49.44 against a dollar. International mutual funds linked to invest in India faced withdrawals of $120 million in the last week in Oct.
123jump.com Staff
03 Nov, 2008
New York City
Circuit City plans to close 155 stores and lay off staff to preserve capital. The battered electronic retailer same store sales declined for two years in a row. Hartford Financial Services surged 45% after it said that it has $2 billion excess capital.
123jump.com Staff
03 Nov, 2008
New York City
Merger of two Sao Paolo banks Itau and Unibanco will create the largest financial group in Latin America and sixth largest in the Americas. The newly merged bank is named Itau Unibanco Holding will be controlled 66% by the shareholders of Itau.
123jump.com Staff
03 Nov, 2008
New York City
Interbank lending though tight, loan rates are on the decline for euro and dollar loans. The Libor rate for dollar loans declined to 2.86% and for euro loans fell to 4.74%.
123jump.com Staff
02 Nov, 2008
New York City
The mobile phone device maker estimated its market share in the third quarter declined to 38% and sold 7 million GPS-enabled devices. The company estimated global market for devices in the quarter of 310 million, an increase of 3% and for the year 2008 estimates unit sale of 1.26 billion.
123jump.com Staff
02 Nov, 2008
New York City
Yahoo third quarter gross revenue rose 1% from a year ago to $1.79 billion and increased 3% after traffic acquisition costs to $1.33 billion. The company earned 4 cents a share. Yahoo guided fourth quarter revenue between $1.77 billion and $1.97 billion and plans to reduce workforce by 10%.
123jump.com Staff
02 Nov, 2008
New York City
The fiscal 2009 core defense budget of $512 billion supports new programs and extensions of current projects for the company. The increase in the core budget is 6% from a year ago. The company has $2.5 billion of cash and $3.8 billion of long term loans at fixed rate, 28% of debt to capital ratio.
123jump.com Staff
01 Nov, 2008
New York City
Casino stocks rallied after Wynn Resorts reported higher than expected revenue. Macau, China based casino performed better than expected. Airline rallied on the hopes that recent fuel price declines and cut in industry capacity will lift earnings in the sector. Carnival Corp dropped its dividend.
123jump.com Staff
31 Oct, 2008
New York City
U.S. stocks edged higher after JP Morgan suspended foreclosures on loans issued to 400,000 homeowners with $110 billion of mortgages. Stocks edged higher in the afternoon on the JP Morgan action. European markets closed up 2% or better. In Asia, Japan lowered its key lending rate. India surged 8%.
