Mayank Mehta
13 Jul, 2009
New York City
CIT Group led decliners in the S&P 500 index as the company faces prospects of bankruptcy. Expeditors International estimated substantially lower quarter earnings. American Dairy, China based milk powder producer and distributor plunged 40% after the company estimated revenues below expectations.
123jump.com Staff
13 Jul, 2009
New York City
The restaurant operator quarterly revenue dipped 7.1% to $317.2 million on same-restaurant sales fall of 3.2%. Net income increased 3.7% to $14.4 million in the quarter. Earnings per share rose to 28 cents from 27 cents the prior-year quarter.
Mukesh Buch
13 Jul, 2009
New York City
Stocks in HK and Shanghai declined after the Central bank in Beijing sounded cautionary note on the recent rise in bank loans. Exports in June fell 21.4% and trade surplus plunged 40%. Chaina Eastern and Shanghai Airlines announced merger plan. Chigo Group completed initial public offering in HK.
Mukesh Buch
13 Jul, 2009
New York City
The ruling LDP party in Japan faces uphill task on the election scheduled on August 30. The opposition party DPJ controls the upper house of the National Diet and is favored to win the election. Stocks fell on the election uncertainty. Kirin and Suntory are reported in merger talks.
Mayank Mehta
13 Jul, 2009
New York City
Australian stocks closed lower as the ongoing controversy between China and Australia heats up. China has arrested Rio Tinto staff under the charges of espionage and bribery related to iron ore price negotiations. Rio Tinto dropped 3.6%. Virgin Blue denied that it is planning to raise A$400 million.
123jump.com Staff
13 Jul, 2009
New York City
Stocks in Mumbai closed lower as markets in Asia fell. The uncertainty related to monsoon rains dragged auto and consumer stocks. IT services stocks rallied for the second day in a row on better than expected outlook from Infosys. Rupee closed at 49.14 to a dollar.
123jump.com Staff
12 Jul, 2009
New York City
The India-based consulting and IT services provider total quarterly revenue declined 3.4% to $1.12 billion. Net income increased 1.6% to $313 million in the quarter. Earnings per share rose marginally to 55 cents from 54 cents a year-ago quarter.
123jump.com Staff
10 Jul, 2009
New York City
The new GM hopes that fewer products, cleaner balance sheet and smaller workforce will help the automaker survive in a market that may have more to shrink. Stocks closed lower for the week as prospect of global economic recoveries look slim. Chevron issued weak outlook.
Sarla Buch
10 Jul, 2009
New York City
European markets are facing bearish investment sentiments as global economic recovery prospect dim. Italian industrial production in May was unchanged but French industrial output increased. UK wholesale prices declined. Arcelor Mittal is threatened with coal mining seizures in Siberia.
Trupti Mehta
10 Jul, 2009
New York City
Stocks in London traded lower. The June month producer price index declined at a faster pace than in May. Insurance companies stocks fell after Aviva was the subject of market rumors of imminent dividend cut.
Mayank Mehta
10 Jul, 2009
New York City
Memc Electronic Materials led gainers in the S&P 500 index with a rise of 4.8%. Infosys Technologies first quarter net profit rises but revenues edge lower. FCStone Group, Inc swings to third quarter net loss. The Shaw Group third quarter profit falls to $7.9 million.
123jump.com Staff
10 Jul, 2009
New York City
Stocks in Japan edged lower for the eight day in a row. Yen hovered at 4-month high against dollar and euro and investors turned cautious ahead of earnings next week. Investors are increasingly questioning if the four month rally has come to an end.
123jump.com Staff
10 Jul, 2009
New York City
Nike fourth quarter earnings decreased 7.3% to $4.71 billion with net income dropping 30.3% to $341.4 million due to lower sales and margins and a hefty restructuring charge. Earnings per share were 70 cents as compared to 98 cents in the year ago quarter.
Trupti Mehta
10 Jul, 2009
New York City
North India recorded weakest monsoon rainfall in June in the last 83 years. Industrial production in May increased 2.7% after April data was revised lower to increase of 1.2% from 1.4%. Infosys earnings increased 18% in the fiscal first quarter and increased the lower range of its earnings guidance.
123jump.com Staff
09 Jul, 2009
New York City
American International Group, Inc led the decliners in the S&P 500 index with a loss of 10.8%. Alcoa Inc low orders cause second quarter to post loss. Chattem, Inc second quarter net rises. Nu Horizons Electronic Corp first quarter post net loss.
