123jump.com Staff
12 Nov, 2008
New York City
The Producers Price Index in China rises to 6.6% in October and CPI increased to 4%. Alibaba.com reported higher than expected earnings lifting the stocks 10%. Third quarter net rose 49%. Stocks in Hong Kong fell 0.7% and in Shanghai declined 1.2%. Li & Fung surges 11% on an outsourcing order.
123jump.com Staff
12 Nov, 2008
New York City
Industrial production in India rises 4.8% in September. Stocks fall on political uncertainty as state wide polls draw near. Tata Teleservices sell 26% stake for $2.7 billion to NTT DoCoMo of Japan. Software exporters rose after the rupee declined to 48.84 to a dollar.
123jump.com Staff
12 Nov, 2008
New York City
The unemployment rate in the UK jumped to 5.8% in the third quarter to September. The BoE lowered its inflation forecast for the second half. Sainsbury lifted its dividend on higher quarterly profit. Thomson Reuters revenue rose but net fell.
123jump.com Staff
12 Nov, 2008
New York City
The largest insurance company reported third quarter net loss of $24.47 billion or $9.05 per share as compared to net income of $3.09 billion or $1.19 per share. The US Treasury announced that it will purchase $40 billion of AIG preferred shares and relax the terms of the original loan.
123jump.com Staff
12 Nov, 2008
New York City
Steelmakers fell as global economic slowdown forces companies to cut production. ArcelorMittal dropped 10% and AK Steel declined 12%. Best Buy offered weak outlook for the holiday season. CB Richard Ellis dropped 14% on the worries that public offering will dilute shareholders.
123jump.com Staff
12 Nov, 2008
New York City
Global markets struggle to find footing as politicians around the world struggle to save financial systems and devise plans to support sagging economic growths. NTT DoCoMo agrees to pay $2.7 billion for 27% stake in Tata Teleservices. ING reports its first quarterly loss ever.
123jump.com Staff
11 Nov, 2008
New York City
Global stocks declined on the worries that recession in the U.S. may be deeper and longer than previously anticipated. Market indexes in the U.S. dropped more than 2% and in Europe fell between 4% and 6%. Russia plunged 10%. Copper declined 5% and crude oil fell 4%.
123jump.com Staff
11 Nov, 2008
New York City
Starbucks Corp fourth quarter revenue rose 3% to $2.5 billion and net income fell 97% to $5.4 million. Comparable domestic location sales fell 5% and across the system fell 3%. The company guided 2% decline in same stores sales in fiscal 2009.
123jump.com Staff
11 Nov, 2008
New York City
European markets fell more than 4% on the weak profit outlook. Mining and metals companies declined after crude oil and metals prices fell. Banks and insurance companies fell after weak earnings from Intesa Saopaolo SpA. Vodafone Group rose on 17% rise in sales. Russia plunged 11%.
123jump.com Staff
11 Nov, 2008
New York City
U.S. market indexes faltered after a decline in home builders, insurers, retailers and real estate investment trusts. Starbucks reported a sharp decline in earnings, Tyco issued a cautious outlook. Insurance companies fell on the need for more capital.
123jump.com Staff
11 Nov, 2008
New York City
Stocks in Australia fell sharply after the business confidence index dropped to the lowest level in two decades. Mounting recession worries and a drop in metals prices led the resource stocks lower. Banks fell on the worries that transportation company Asciano Group may need more capital.
123jump.com Staff
11 Nov, 2008
New York City
Insurance companies fell on the mounting worries that leading companies in the sector will need additional capital to support their ratings. Hartford and Prudential led the decliners. CB Richard Ellis plunged after it announced a plan to raise capital in public offering.
123jump.com Staff
11 Nov, 2008
New York City
Cisco, the networking company revenue increased 8% to $10.3 billion, an 8% from a year ago and net income increased 6% to $2.2 billion or $0.37 per share from $0.35 per share. The Company anticipates fiscal second quarter earnings per share between $0.05 and $0.08 per share.
123jump.com Staff
11 Nov, 2008
New York City
Stocks in Asia closed lower and European markets declined after profit outlook at companies weakened. In Japan, Citizen Holding and Seiko sharply cut their annual earnings outlook on weak international sales. In Europe insurers, banks fell. Julius Baer, Swiss Life, Aegon, ING, Allianz declined.
123jump.com Staff
10 Nov, 2008
New York City
U.S. stocks closed lower on the worries that the economy may be weaker than it appears. Goldman Sachs cuts 10% of payroll. Circuit City bankruptcy filing drags most retailers and real estate trusts lower. China announces $585 billion stimulus plan. Resource stocks and Asian markets rallied.
