Mayank Mehta
12 Aug, 2009
New York City
The Bank of England in its inflation report indicated that the central bank will continue to pump more liquidity into the financial system as inflation is below its target level of 2%. Jobless claims increased 24,900 in July. TUI Travel drops on pandemic flu worries and Balfour Beatty surges.
Mayank Mehta
12 Aug, 2009
New York City
The Bank of England plans to add liquidity to the financial system as the pace of money supply growth falters and inflation is likely 2% target. The BoE estimated that pace of economic recovery to be highly uncertain and households, banks and public sector need to adjust their balance sheet.
Mayank Mehta
12 Aug, 2009
New York City
Home builders surged after Toll Brothers net new home orders increased in the third quarter. Applied Materials quarterly loss was better than expected. Sara Lee plunged more than 8% after it reported quarterly loss. E-House China surged 20% after quarterly net soared 65%.
Mayank Mehta
12 Aug, 2009
New York City
U.S. stocks advance ahead of Fed statement on interest rate later this afternoon. Toll Brothers surged after it retired debt and backlog fell 47%. Starwood Property lifted its offer size for initial public offering. JA Solar declined after it reported quarterly loss.
Mayank Mehta
12 Aug, 2009
New York City
Output at factories, mines and electric utilities surged 7.8% in June. Swine flu worries forces Mumbai to close schools and malls. Generic drug makers surged for the second day in a row. Tata Steel rolls back recent price increase in select steel categories.
123jump.com Staff
12 Aug, 2009
New York City
The insurer total revenue declined 18.4 % to $1.73 billion in the quarter. Net quarterly income plunged 66% to $79.9 million due to unfavorable foreign currency translations and lower premium and net investment income. Earnings per share plummeted to 23 cents from $1.33 a year-ago quarter.
123jump.com Staff
11 Aug, 2009
New York City
U.S. benchmark averages pulled back more than 1% as investors took cautious views. CIT Group, MBIA and AIG led the decliners with Bank of America and other banks closed lower. The Bank of Japan highlighted downside risk to the economy and left its rate unchanged.
123jump.com Staff
11 Aug, 2009
New York City
Australian stocks edged higher ahead of earnings from Commonwealth Bank and BHP Billiton. Weak gold prices failed to dampen the mood in trading as Chinese demand for iron ore and other metals is expected to rise. JB Hi-Fi surged after net profit rose 45%.
123jump.com Staff
11 Aug, 2009
New York City
The Bank of Japan left its key rate unchanged in a unanimous vote and left its economic assessment unrevised. The central bank highlighted downside risks to the economy until the final demand improves. Insurers gained on earnings. Earthquake related stocks closed higher.
Mayank Mehta
11 Aug, 2009
New York City
Germany reported first monthly decline in consumer prices in 22 years in June. The prices decreased 0.7% from a year ago and wholesale prices fell 10.6%. The pre-paid telecom operator Drillisch surged 7% after its net soared five-fold. TUI AG declined on financing worries related to Hapag-Lloyd.
Mayank Mehta
11 Aug, 2009
New York City
UK home prices in June inched higher and number of agents reporting price decline also edged lower in July. Trade deficit widened in June as imports of goods rose at a faster pace than exports. Tata Motors arranged loans without the backing of UK government.
Mayank Mehta
11 Aug, 2009
New York City
MBIA Inc plunged after negative comments and a rating downgrade from JP Morgan. AIG dropped as well after the stock surged in the last ten days of trading. Yum! Brands, Sprint and Dynegy declined on lowered ratings from analysts.
Mayank Mehta
11 Aug, 2009
New York City
Stocks in Mumbai edged higher on positive market sentiment as several companies issued stock splits and reported new orders. Swine flu treatment related generic drug makers were on the most actively traded stocks. Tata Motors secured debt funding for its UK based Jaguar and Land Rover unit.
123jump.com Staff
10 Aug, 2009
New York City
ConocoPhillips second quarter earnings dropped nearly 50% to $35.4 billion and profits plunged 76% to $1.3 billion as heavy fuel supplies and weak demand hurt margins. Earnings per share were 87 cents as against $3.50 in the year-ago quarter.
Mukesh Buch
10 Aug, 2009
New York City
U.S. stocks edged lower ahead of Fed meeting this week. The Fed is expected to leave rates unchanged and leave most of the direct lending programs in place. Consumer bankruptcies increased 34% in July. Freddie Mac surged on a quarterly profit after two years.
