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Market Update

Tokyo and Seoul Close Higher, China and HK Slide

123jump.com Staff
30 Dec, 2008
New York City

Stock markets across Asia-Pacific were mostly on the rise Tuesday with exchanges in Japan, South Korea, Australia, India, Malaysia and Thailand closing in positive territory. China and Hong Kong missed out on the rally with both CSI 300 and Hang Seng sliding into red.

Australian Stocks Climb, Energy Plays Prevail

123jump.com Staff
30 Dec, 2008
New York City

Energy stocks lent support to ASX 200 on Tuesday amid rising concerns over the conflict in the Middle East. Fears of a ground operation launched by Israel in Gaza sent oil prices higher.

India Government to Reveal Second Stimulus Plan

123jump.com Staff
29 Dec, 2008
New York City

India government will announce the second stimulus package for this fiscal year and the one for 2009 to 2010 in the next few days to boost economic growth.

Nikkei 225 Up; South Korea Kospi Index Down

123jump.com Staff
29 Dec, 2008
New York City

The Nikkei 225 Index in Tokyo closed higher 7.65 or 0.09%. Hang Seng index in Hong Kong rose 1.02%.

Hong Kong Indices Up; China Steelmakers See Loss

123jump.com Staff
29 Dec, 2008
New York City

Hong Kong market indices rose on towering oil prices and the conflict between Israel and Hamas fuelling worries that hostilities will affect oil supplies. China Iron and Steel Association announced the country''s steel plants posted a combined loss of Rmb12.77 billion in November.

Japan Stocks Rise on News of Mega Merger

123jump.com Staff
29 Dec, 2008
New York City

Japan stocks rose on rumors that Mitsui Sumitomo Insurance Group Holdings, Aioi Insurance Co. and Nissay Dowa General Insurance Co. might merge to create the country

Australian Borrowing Costs Down; ASX Up 1.1%

123jump.com Staff
29 Dec, 2008
New York City

The difference between the rate Australian banks charge each other for three-month loans and the overnight swap rates decline nine basis points to 49 points. Reserve Bank of Australia has poured A$650 million into the money market after forecasting a surplus of A$4.1 billion.

Adobe Systems Q4 Earnings Call Transcript

123jump.com Staff
27 Dec, 2008
New York City

Adobe reported fourth quarter revenues of $915.3 million and full year 2008 revenues of $3.58 billion. The company expects revenue and earnings per share in the range of $800 million to $850 million and 30 cents to 35 cents in the first quarter of fiscal 2009.

Cautious U.S. Stocks, Light Trading

123jump.com Staff
26 Dec, 2008
New York City

U.S. stocks edged higher in light trading volume and investors did put much weight in weaker than expected holiday sales report. Stocks edged higer after crude oil price rose. In Japan, manufacturing plunged in November but stocks gained. Major markets in Europe were closed.

Jones Apparel, GM Shine; eTelecare Plunges

Mayank Mehta
26 Dec, 2008
New York City

Retailers edged lower after weaker than expected holiday sales. Jones Apparel surged after it revised its credit facility. Crude oil price rise lifted oil complex stocks. Of the stocks in S&P 500 index, 299 increased, 188 declined and 13 were unchanged.

Holiday Retail Sales Decline 2.5%

123jump.com Staff
26 Dec, 2008
New York City

Holiday sales appear to be weaker than earlier estimated in the U.S. The latest report for the period ending on Dec 24, estimated sales decline of 8.8% including gasoline. Luxury, electronics and apparel sales declined the most. Large discounts of more than 60% have failed to pull more shoppers.

Aeropostale Q3 Earnings Call Transcript

123jump.com Staff
26 Dec, 2008
New York City

Teen apparel retailer net sales in the quarter increased 17% to $482 million and same-store sales increased 7%. Net earnings a share surged 31% to $0.63 and net income increased 18% to a record $42.6 million. The fourth quarter earnings are estimated between $0.84 and $0.90 a diluted share.

Dai-Ichi Life Plans $11 Billion IPO

123jump.com Staff
25 Dec, 2008
New York City

The second largest life insurer in Japan plans to demutualize the company and raise $11 billion in a global offering. The 106 year old insurance company is looking to improve its investment returns. The 11 trillion yen offering will be managed by Nomura Holdings, Merrill Lynch and Mizuho Financial.

Vietnam Devalues Dong

123jump.com Staff
25 Dec, 2008
New York City

Vietnam devalues its currency as the current account deficit rises, economic growth slows and export fall faster than anticipated. The State Bank of Vietnam relaxed the trading band for the currency to 3% as exports of garments, shoes and toys stagnate. For the year the dong has fallen 5.5%.

Staples Q3 Earnings Call Transcript

123jump.com Staff
25 Dec, 2008
New York City

The office supply retailer reported a 34% surge in revenues to $7 billion, including $2 billion from Corporate Express. Net income declined 43% to $157 million, and earnings per share decreased 42% to $0.22. Corporate Express acquisition generated synergies of $300 million.