123jump.com Staff
29 Oct, 2008
New York City
The Western Union, a financial services and communications company reported that revenue for the third quarter grew 10% to $1.38 billion. Earnings per share increased 18% to 33 cents. The Company generated $925 million of cash flow from operations and expects to generate $1.2 billion for the year.
123jump.com Staff
29 Oct, 2008
New York City
The Fed lowered the Fed funds rate by 50 basis points to 1% in unanimous decision. The Fed is likely to lower rated further if economic activities remain weak. Investors hoping for a cut larger than 50 basis points were disappointed. Nasdaq surged 3% after the rate cut but closed lower.
123jump.com Staff
29 Oct, 2008
New York City
In Mumbai stocks closed higher in a volatile trading on a decline in trading volume. Reliance Communications dropped 10% ahead of the earnings results. Mahindra & Mahindra gained 8.3% after the company said that product demand is strong.
123jump.com Staff
29 Oct, 2008
New York City
Nikkei 225 index surged 7.7% following a rise of 10% in New York. Japan industrial production fell 1.2% in September. Sony second quarter net income dropped 72% and the company left its full year profit unchanged. Sumitomo Mitsui first half profit fell 50% on bad loans of 220 billion yen.
123jump.com Staff
29 Oct, 2008
New York City
Stocks in Hong Kong and Shanghai edged higher ahead of rate cut expectations. China lowered its rate by 27 basis points for deposits and lending. The third rate cut since Sept 15 by China is expected to stabilize the financial markets and stem the decline economic growth rate.
123jump.com Staff
29 Oct, 2008
New York City
Australian stocks rose 1.3% on the hopes that the U.S. will lower rates today. JP Morgan Chase estimated fourth quarter economic growth to fall 3% and decline 4% in the first quarter of 2009. Australia is expected to invest $1 billion in mortgage securities.
123jump.com Staff
29 Oct, 2008
New York City
Global stocks advanced on the back of a rally in the U.S. trading. Asian markets surged and European markets traded higher. This morning, stocks in New York edged lower ahead of the Fed decision to lower rates. The speculation is mounting that the Fed may lower rate by as much as 1%.
123jump.com Staff
28 Oct, 2008
New York City
U.S. stocks surged on the hopes that the Fed will lower rates tomorrow. The Fed lent money directly to corporations for the first time in commercial paper market. The Fed participation lifted the debt amount to $67 billion, a ten-fold rise from a week ago. Brazil, Germany Mexico surged above 10%.
123jump.com Staff
28 Oct, 2008
New York City
Schlumberger third quarter income from continuing operations, was $1.25 per share, up $0.09 sequentially and $0.16 above the same quarter last year. During the quarter the company bought back 5.96 million shares for $545 million at an average price of $91.45 per share.
123jump.com Staff
28 Oct, 2008
New York City
UK stocks closed 1.8% higher on strong earnings from BP Plc and positive outlook from Standard Chartered. The market gains were trimmed after a record drop in consumer confidence in the U.S. UK home repossessions rose 71% in the second quarter. Schroders Plc net dropped 20% in the third quarter.
123jump.com Staff
28 Oct, 2008
New York City
EMC third quarters revenues rose 13% to $3.7 billion from a year ago. The company guided for the fourth quarter revenues of $4 billion and earnings per share between 23 cents and 24 cents.
123jump.com Staff
28 Oct, 2008
New York City
Stocks in Hong Kong surged 14% in a largest one day rally in 11 years. The Hang Seng index had dropped 28% in the last five sessions. Cathay Pacific and China Railways surged 30% after crude oil weakened in the region. In Shanghai trading CSI 300 Index soared 3.1%.
123jump.com Staff
28 Oct, 2008
New York City
Queensland Gas agreed to be acquired by UK based BG Group in a deal that values the company at $5.6 billion. The all cash offer will increase BG stake to 100%. Australian dollar regained some of the lost ground against yen and the U.S. dollar. Stocks edged lower.
123jump.com Staff
28 Oct, 2008
New York City
Stocks in Tokyo trading closed up 6% after a rebound in the afternoon session. The yen fell from its record high against euro and 13-year high against dollar. September retail sales in Japan dropped 0.4%. Honda Motor lowered its forecast for full year net and second quarter net dropped 41%.
123jump.com Staff
28 Oct, 2008
New York City
Wells Fargo reported a $1.64 billion profit or $0.49 a share in the third quarter despite $646 million or $0.13 a share, of write-downs, as previously announced, for investments in Fannie Mae, Freddie Mac and Lehman Brothers.
