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Market Update

UK Mortgage Loans Rise 7%; Chemring Surges 5%

123jump.com Staff
23 Jun, 2009
New York City

UK mortgage approvals increased 7% in May to 31,162 loans. Drax Group raised

Metro PCS Surge; Boeing, Rambus Plunge

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.

Hong Stocks Fall; GCL- Poly in $3.4 B Deal

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.

World Bank Lifts India Growth Estimate

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.

Toyota, Nissan, Komatsu, Kawasaki Fall

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.

Resource Stocks in Australia Down

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.

Global Markets Slide; Nasdaq Drops 3.4%

123jump.com Staff
22 Jun, 2009
New York City

The World Bank

Anglo American Rejects Xstrata Bid; FTSE Down

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.

Adobe Q2 Earnings Call Transcript

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.

The Talbots Inc Q1 Earnings Call Transcript

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.

Nissan, NEC in Electric Car Project; Stocks Fall

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.

NAB Agrees A$825 M Deal for Aviva Australia

Darlington Musarurwa
22 Jun, 2009
New York City

In Sydney, Australia trading iron ore and copper miners gained after the Xstrata offered a

Oil Drops 4%; Valero, Conoco, Exxon Fall

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.

The Men

123jump.com Staff
21 Jun, 2009
New York City

The men''s apparel retailer net quarterly sales declined 5.5% to $464.1 million on comparable store sales fall of 7%. Net quarterly earnings plunged 46.4% to $5.3 million. Earnings per share dipped to 10 cents from 19 cents a year-ago quarter.

Tech Stocks Lead U.S. Markets; Oil Drops

123jump.com Staff
19 Jun, 2009
New York City

Tech stocks closed higher after Apple, Palm and Research in Motion were the focus of investors. Crude oil price fell after analysts stressed the investor driven demand has been behind the recent surge in prices. Mexico and Colombia lowered interest rates.