123jump.com Staff
23 Mar, 2009
New York City
Banks rally on U.S. Treasury plan to purchase sour toxic debt. Daimler AG, the second largest German auto company raised nearly 2 billion euros from a fund based in Abu Dhabi. The move to raise capital at a price when the stock is down more than 50% only highlights dire cash needs at Daimler.
123jump.com Staff
23 Mar, 2009
New York City
The latest rally on Wall Street was sparked by the U.S. Treasury plan to work with private sector and purchase illiquid and hard to value mortgage-linked debts from banks. Markets in New York surged nearly 7% and in Latin America rallied above 5%. Copper gained and crude oil edged higher.
123jump.com Staff
23 Mar, 2009
New York City
Stocks in UK surged on the optimism that lifted world markets after the U.S. proposed a plan to acquire toxic debt owned by banks. The FTSE index increased nearly 3% on a sharp rise in banking and mining stocks. Vodafone and Telefonica owned O2 are in discussion to share network infrastructure.
123jump.com Staff
23 Mar, 2009
New York City
Citigroup Inc led gainers in the S&P 500 index with a rise of 16.7%. Hastings Entertainment, Inc fourth quarter profit declines. Tiffany & Co fourth quarter sales dropped 20% and profit declined 76%. Walgreen Company surged 8% on quarterly sales increased and net declined 7%.
123jump.com Staff
23 Mar, 2009
New York City
Stocks in India surged on a regional rally in Asia. The U.S. Treasury plan to purchase worthless debts lifted markets in India. Trading turnover on both exchanges surged. Tata Motors advanced 3% after it launched its much anticipated small car Nanao. Ranbaxy Labs surged 11% on approvals from UK.
123jump.com Staff
23 Mar, 2009
New York City
Stocks in Hong Kong and Shanghai rose on the prediction that the recent government stimulus will add between 1.5% and 1.9% in economic growth. Separately, Hong Kong balance of payment surged in the three months to December on a steady rise in financial inflows. In Hong Kong trading financials fell.
123jump.com Staff
23 Mar, 2009
New York City
The specialty sportswear retailer quarterly net sales decreased 8% to $352 million on same-stores sales fall of 10%. Net quarterly loss from continuing operations was $27.6 million. The company lost 42 cents a share compared to earnings of 28 cents a year-ago quarter.
123jump.com Staff
23 Mar, 2009
New York City
Australian market averages rose 2.4% as financial stocks increased on the hopes that the U.S. Treasury plan to work with private sector to isolate toxic assets may contain fall in financial markets. The news about another Japan stimulus lifted trading sentiment.
123jump.com Staff
23 Mar, 2009
New York City
Tokyo stocks surged 3.4% after government proposed to invest 3 trillion yen to improve government services and provides better automation and electronic access. Cabinet office reported today in its business outlook survey condition that deteriorated in three months to March.
123jump.com Staff
22 Mar, 2009
New York City
The office products supplier quarterly sales rose 16% to $6.2 billion. Net quarterly income declined 14% to $286 million on higher operating expenses. Earnings per share dropped to 40 cents from 47 cents a year earlier. The company generated record free cash flow of $1.3 billion in fiscal 2008.
123jump.com Staff
20 Mar, 2009
New York City
U.S. stocks declined after General Electric offered weak earnings outlook in its financial division. Banks and financial services stocks fell with GE dropping as much as 7%. GE has plunged 73% in the last one year of trading. The CBO revised its estimate of U.S. budget deficit sharply higher.
123jump.com Staff
20 Mar, 2009
New York City
The latest nonpartisan U.S. Congressional office suggested that the U.S. budget deficits will surge to $1.8 trillion in fiscal 2009 and to $1.4 trillion in fiscal 2010. Obama administration is looking to spend $3.55 trillion in fiscal 2010.
Darlington Musarurwa
20 Mar, 2009
New York City
U.K. stocks closed higher for the second day in a row on a rise in insurance and mining stocks. Banks closed lower. Regus Group Plc surged 31% to 65.5 pence after the rental office services provider reported 2008 annual revenue rise of 25% and earnings gain of 11%.
Mayank Mehta
20 Mar, 2009
New York City
MGM Mirage and Lincoln National drop on debt downgrades. AIG plunges on more investigations in bonus practices. Fluor Corp declines on project halt in Kuwait. AutoNation and Cabot Corp fall on ratings downgrade.
123jump.com Staff
20 Mar, 2009
New York City
Foreign exchange reserves of India rises by $1.4 billion. RBI will unveil its credit policy on April 21. Retail inflation eases to 10.79% in February. In trading, telecom stocks fell on lower text message tariff and L&T declined after the settlement with Grasim on cross holdings.
