123jump.com Staff
23 Jun, 2009
New York City
Huntsman Corp agreed to a far lower settlement with Deutsche Bank and Credit Suisse for a failed merger with Apollo Management. Apollo retracted its $10.5 billion merger after Credit Suisse and Deutsche Bank reneged on their commitment to fund the chemical maker acquisition.
Mayank Mehta
23 Jun, 2009
New York City
The benchmark indexes in Europe closed mixed. German economic growth rate was revised lower and jobless rate revised higher for 2010. French business and German consumer confidence are on the upswing. Credit Suisse and Deutsche Bank will pay a total of $1.73 billion in a settlement to Huntsman Corp.
123jump.com Staff
23 Jun, 2009
New York City
UK mortgage approvals increased 7% in May to 31,162 loans. Drax Group raised
Mayank Mehta
23 Jun, 2009
New York City
Boeing led the decliners in the S&P 500 index after it delayed the launch of 787 Dreamliner. Metro PCS surged after it was selected to replace Tyco Electronics in the S&P 500 index. Rambus plunged on weaker revenue guidance. Steelcase surged after it reported better than expected earnings.
Darlington Musarurwa
23 Jun, 2009
New York City
Stocks in Hong Kong declined but in Shanghai edged up. The global market weakness and lower commodities prices dragged stocks in Hong Kong lower. GCL-Poly Energy agreed to acquire solar components maker Jiangsu Zhongneng Polysilicon for $3.4 billion.
Darlington Musarurwa
23 Jun, 2009
New York City
Stocks in Mumbai trading fell in the morning as Asian markets declined. In the late afternoon market indexes recovered to close nearly unchanged. Satyam Computer appointed new chief. The government reported fiscal deficit in April was 16.3% of the full-year estimate.
Darlington Musarurwa
23 Jun, 2009
New York City
Tokyo investors took the latest World Bank forecast as an opportunity to sell stocks. Cautious investors are looking to take profits after the global stock market rally of three months. Toyota appointed new grand-son of its founder as new president and reorganized its management structure.
Darlington Musarurwa
23 Jun, 2009
New York City
Australian stocks corrected as Asian markets fell on the dour outlook from the World Bank. Resource stocks plunged more than 5% on weak gold and crude oil prices. Australia estimated its exports to decline to A$160 billion in fiscal 2010 from A$196 billion in the year ending this month.
123jump.com Staff
22 Jun, 2009
New York City
The World Bank
123jump.com Staff
22 Jun, 2009
New York City
UK stocks closed lower after weakness in global markets. Merger and deal news dominated trading sentiment. Xstrata proposal to acquire Anglo American was rejected by its board. UK home repossessions were lowered to 65,000.
123jump.com Staff
22 Jun, 2009
New York City
Adobe second quarter revenue dropped 20.5% to $704.7 million and profit dropped 38% to $161.4 million. Earnings per share were 24 cents as against 40 cents in the year ago quarter. Revenue for Q3 is expected to range between $665 million to $715 million.
123jump.com Staff
22 Jun, 2009
New York City
The apparel retailer first quarter sales declined 25% to $306.2 million on same-store sales decline of 26.9%. Net loss was $23.6 million or 44 cents per share against net income of $1.6 million or earnings of 3 cents per share in the prior year quarter.
123jump.com Staff
22 Jun, 2009
New York City
Business sentiment among large manufacturers improves in June quarter as talks of economic recovery raise expectations. Japan agrees to advance emergency loan of $1 billion to Japan Airlines, lower than $2 billion sought by the airline. Nissan and NEC are partnering to make electric cars in the U.S.
Darlington Musarurwa
22 Jun, 2009
New York City
In Sydney, Australia trading iron ore and copper miners gained after the Xstrata offered a
Mayank Mehta
22 Jun, 2009
New York City
U.S. benchmark indexes dropped between 2% and 3% after the World Bank report revised its estimate of the world economic contraction to 2.7% from 1.9%. The crude oil and copper prices trade lower. Walgreen third quarter profit declines 8.7% on sales rise of 8%. Visa Inc surges.
