123jump.com Staff
18 Oct, 2007
New York City
Japanese stocks rebounded as banks and brokerage stocks recovered. Nikkei 225 index added 0.9% to close at 17,106.09. IMF lowered the economic growth rate in Japan for 2007 and 2008. Banks rebounded as investors hoped that their exposure to subprime mortgages in the U.S. is limited. Mitsubishi UFJ, Sumitomo Mitsui Financial, and Credit Saison are liklely to bid for credit card business run by the airline JAL.
123jump.com Staff
17 Oct, 2007
New York City
U.S. stocks rallied in the morning on the inflation report and earnings from Intel, IBM, Yahoo, Coca Cola, and J P Morgan. September consumer price index rose 0.3% and housing start in the month fell 10.2%. The sharp fall in the housing market put investors on th edge. Hosuing related stocks declined in the afternoon trading. Home builders fell to five-year low. Lennar, DR Horton, and Beazer fell. New York Times fell to 10-year low after a report that Morgan Stanley sold its stake.
123jump.com Staff
17 Oct, 2007
New York City
Sensex index in the morning trading plunged 9%. SEBI, securities regulatory arm of India, proposed a closer monitoring of foreign investments and raised collateral level for leveraged trades. The market interpreted the government move as a way to control international fund flows. After one hour of trading halt, Sensex climbed its way back to close at a loss of 1.8%. Reliance Energy fell 7% after reporting earnigs rise of 34%. Rupee fell to a two-week low.
123jump.com Staff
17 Oct, 2007
New York City
U.S. stocks in the morning trading edged higher after a sharp rise in earnings from Intel and Yahoo beat expectations. Altria, IBM, United Technologies, Northern Trust, and Gannett reported better than expected earnings. Oil edged higher, inching to $88 per barrel. Housing starts in September fell 10.2% and CPI in the month increased 0.3%. Core CPI in September rose 0.2%, in line with expecations.
123jump.com Staff
17 Oct, 2007
New York City
J P Morgan reported third quarter revenue rise of 4% to $16.11 billion and net income growth of 2% to $3.3 billion. Earnings per share increased 5% to 97 cents. The company set aside $2.4 billion to cover losses, up 67% from a year ago. Provision for losses from home equity loans were increased from $1.4 billion to $2.0 billion. The bank maintained Tier 1 capital ratio at 8.4%.
123jump.com Staff
17 Oct, 2007
New York City
Market regulator and Finance Minister in India orchestrated a series of steps to crackdown on anonymous trading. The recent sharp rise in market has attracted a flood of new investments from foreign investors many of them trade through derivative contracts, hiding true identity of the owners. Finance Minster backed a proposal to curb such trading and regulator SEBI proposed a series of steps after the market close.
123jump.com Staff
17 Oct, 2007
New York City
Stocks in Japan fell for the second day in a row on the worries that banks may have more losses to report from the ongoing correction in the U.S. housing market. Nikkei fell 1.1% and broader index Topix fell 1.5%. Mitsubishi UFJ, Mizuho, and Nomura fell more than 4%. METI reported that demand for services in August rose 1.3% afte a rise of 0.4% in July.
123jump.com Staff
16 Oct, 2007
New York City
Stocks in Mumba trading edged lower after rising to a record level in the last five session. Sensex fell 0.04% or 6.80 to close at 19,051. Of the 30 stocks in the index, 12 ganied and 18 declined. Stead rise of rupee against dollar is likely to hurt exports from smaller companies. CII, industry organization, cautioned that the export target of $160 billion in the current fiscal year may not be achieved. ICICI Bank led the gainers and Infosys led the decliners in the Sensex index.
123jump.com Staff
16 Oct, 2007
New York City
IBM, Intel, Yahoo, and CSX were some of the companies releasing earnings after the close of regular trading. IBM reported earnings rise og 6.3% on 7% rise in sales. Intel reported revenue rise of 15% and earnings grwoth of 43%. Yahoo earnings declined on revenue increase of 12%. CSX reported revenue rise of 3% and earnings increase of 24%. Intel, yahoo, and CSX rose in the after hours of trading.
123jump.com Staff
16 Oct, 2007
New York City
U.S. stocks fell after comments on housing markets from the Treasury Secretary Paulson put investors in a cautionary mood. Averages fell as Paulson said that the U.S. housing market poses a significant risk to the wider economy. He also admitted that the problems in the housing market are likley to persist longer than anticipated. After the close Intel reported earnings rise of 43% and at IBM rose 6.3%. Yahoo earnings were flat compared to a year ago of 11 cents per share.
123jump.com Staff
16 Oct, 2007
New York City
Treasury Secretary Henry Paulson remarks suggested a sharp reversal in the U.S. administration''s approach in tackling the ongoing correction in the housing market. He said that it is the regulated banks that are facing the crisis rather than the hedge funds and the depth of the problem is still undetermined. He expressed real uregency in tackling the housing industry and mortgage related issues. He admitted that the current problems in the housing market are likely to persist beyond 2008.
123jump.com Staff
16 Oct, 2007
New York City
U.S. stocks declined after a barrage of earnings warnings sent a mixed signal and oil crossed $87 per barrel. Wells Fargo and Johnson & Johnson reported better than expected earnings. Ericsson fell 24% after reporting a shortfall in the quarterly earnings. D R Horton said that orders declined sharply in the fourth quarter.
123jump.com Staff
16 Oct, 2007
New York City
Tokyo stocks fell along with a decline in other Asian markets. Financial stocks led the declners after Nomura Holdings reported its first quarterly loss in four years. investors worried that the U.S. mortgage market problems are likely to persist and may be deeper than early estimates suggested. Mizuho Financial and Mitsubishi UFJ fell more than 5%. J Front reported sales and earnings rise but failed to meet the forecast. Oil closed at a record high.
123jump.com Staff
15 Oct, 2007
New York City
U.S. stocks declined on the worries that credit market problems are likely to linger longer tha anticipated. Citigroup reported 57% decline in earnings on more than $3 billion in losses in the fixed income area. Eaton Corp reported higher earnings but lowered annual earnings outlook. In Japan, Nomura Holdings reported preliminary qurterly losses on the account of $1.2 billion in subprime mortgage losses and deicded to leave the business. Philips Electronic reported sharply lower earnings.
123jump.com Staff
15 Oct, 2007
New York City
Australian stocks fell as investors showed caution ahead of earnings season. AGL Energy fell 17% after it cut its annual earnings guidance. The goverment offered to lower taxes by A$34 billion over the next five years, if reelected. Nyrstar, a joint venture betwen Zinifex and Umicore, agreed to offer 70 million shares between 18 and 23 euros or raise up to 1.6 billion euros.
Markets in Asia rose sharply led by a surge in India, Shanghai, Hong Kong, and Indonesia.
