Mayank Mehta
08 Dec, 2008
New York City
Stocks surged on the hopes that new administration will provide more than $600 billion in economic stimulus as early as January. Of the stocks in S&P 500 index 421 gained, 77 declined and 2 were unchanged. The 26 stocks in Dow gained and 4 declined. Infrastructure and industrials led the rally.
123jump.com Staff
08 Dec, 2008
New York City
Stocks in Australia surged. Job postings dropped 8.6% in November and in metropolitan newspapers plunged 12%. Stocks surged after news reports suggested China National Petroleum may bid for Santos in partnership with foreign oil company.
123jump.com Staff
08 Dec, 2008
New York City
Tokyo stocks surge on optimistic outlook for the U.S. stimulus plan from President-elect Obama. Bank lending increased in November at a fastest pace in 16 years. Construction equipment makers surged on the optimism that the U.S. stimulus plan will increase exports.
123jump.com Staff
08 Dec, 2008
New York City
Reserve Bank of India cut repo rate by 1% to 6.5% over the weekend and Indian government broadened and enlarged its stimulus package. The government will offer cheaper credit to exporters and home buyers. Small businesses will have access to more credit through a separate program. Stocks Surged.
123jump.com Staff
08 Dec, 2008
New York City
The home improvement retailer quarterly sales increased 1.4% to $11.7 million. Earnings per share fell 23% to $0.33 from a year ago of 43 cents. In the quarter total customer count increased 3.4% but average ticket declined 2% to $65.64. Comparable transactions decreased 3.5%.
123jump.com Staff
08 Dec, 2008
New York City
U.S. stocks surged on optimism that new administration will provide a large government stimulus to arrest faltering economy. At least today, investors are overlooking forces that will stoke inflation in the years to come. On Sunday, India lowered its lending rates. Oil and metals prices rise.
123jump.com Staff
08 Dec, 2008
New York City
Dell Inc third quarter fell 3% to $15.16 billion and net income in the period declined to $727 million or $0.37 per share compared to $766 million or $0.34 per share in the prior year quarter. Cash outflow from operations was $86 million and cash conversion cycle increased to 25 days.
123jump.com Staff
07 Dec, 2008
New York City
Autodesk, design software developer third quarter revenues increased 13% to $607 million. Diluted earnings per share increased 29% to 45 cents. The company expects fourth quarter revenue between $525 million and $550 million and earnings per share between 13 cents and 19 cents.
123jump.com Staff
06 Dec, 2008
New York City
PetSmart third quarter revenues increased 12.1% to $1.3 billion, and net profit rose to $35.8 million or 28 cents a share compared to $29.5 million or 23 cents a share. The company guided fourth quarter earnings per share between 59 cents to 62 cents.
123jump.com Staff
05 Dec, 2008
New York City
November unemployment rose 6.7% in the U.S. as 533,000 people lost their jobs, largest monthly cut in 33 years. Stocks closed higher after Hartford Financial lifted earnings outlook and Prudential offered better than expected earnings views.
123jump.com Staff
05 Dec, 2008
New York City
Insurance stocks rallied after Hartford and Prudential revised earnings outlook. Hartford Financial surged after it lifted its earnings guidance and Prudential soared 30% on its better outlook for 2009. Royal Bank of Canada declined 5%.
123jump.com Staff
05 Dec, 2008
New York City
Mumbai stocks dropped 2.6% on economic slowdown worries and terrorist attack rumors in New Delhi. Traders are expecting a large rate cut from the Reserve Bank of India after central banks in Europe cut rates. Rupee rose against the U.S. dollar. Larsen & Toubro suspended its entry in shipbuilding.
123jump.com Staff
05 Dec, 2008
New York City
U.S. stocks dropped after the November employment report showed 533,000 jobs were eliminated. The rate of job loss was the highest since 1974. Mortgage delinquencies and foreclosure rates rose to the record level in 30 years. Insurance stocks led gainers and energy stocks led decliners in S&P 500.
123jump.com Staff
05 Dec, 2008
New York City
European stocks fell sharply in the region after the release of higher than expected unemployment data in the U.S. German factory orders in October dropped 6.1% after dropping 8.3% in September. HSBC will retake its headquarters building from Metrovacesa after it failed to refinance the loan.
123jump.com Staff
05 Dec, 2008
New York City
Stocks in Shanghai and in Hong Kong surged after China offered more capital to stimulate the economy. U.S. and China provided together $20 billion for export financing. India and China plan to carry out a joint military exercise to combat rising terrorism in Mumbai.
