123jump.com Staff
12 Mar, 2008
New York City
Humana, health insurance provider lowered its earnings estimate for the first quarter by half between 44 and 46 cents. For the full year Humana estimated earnings between $4.00 and $4.25 from $5.35 and $5.55 per share. The company lowered its operating margins, cash flow and gave a cautious guidance on revenue.
123jump.com Staff
11 Mar, 2008
New York City
European financial markets advanced more than 1% on the Central banks adding liquidity. German investor confidence in March rose as companies cope with the rising euro. Dubai controlled fund agreed to pay 1.19 euros per share to acquire a controlling interest in Spanish construction company Colonial SA. EADS fell 7% in Paris trading after it reported a loss in 2007 of 446 million euros or 56 cents per share on sales decline of 0.8%. The company earned 99 million euros or 12 cents per share.
123jump.com Staff
11 Mar, 2008
New York City
U.S. stocks surged after a coordinated move among central bankers led by the U.S. Fed. Nasdaq surged 4%, S&P 500 soared 3.7%, and Dow Jones jumped 3.6%. The Fed led move to add $200 billion in liquidity to credit market was widely seen as a move to improve the health of the financial systems and encourage lending. American Express led the gainers in Dow Jones index and Washington Mutual led the S&P 500 stocks. Talks of investment from Goldman or Buffett lifted Wamu. Bear Stearns soared.
123jump.com Staff
11 Mar, 2008
New York City
The Bank of England in a coordinated move along with central banks in Europe, Canada, and Australia offered to inject liquidity and accept wider collateral. Markets in Europe, Canada, and U.S. rallied. In London trading FTSE 100 stocks rose 1.09% or 61.3 to 5,690.40. Of the FTSE 100 stocks 67 rose, 33 declined and 2 were unchanged. Cairn Energy led advancers in the FTSE 100 index shares with a rise of 8.06% followed by Standard Life adding 5.42%.
123jump.com Staff
11 Mar, 2008
New York City
Stock averages in Japan rebounded after investors looked for bargains in commodity-related stocks that have traded lower in the recent weeks. In Tokyo trading Nikkei 225 gained 0.05% or 6.54 to 12,538.67, and the broader Topix Index rose 0.9% or 10.76 to 1,235.15. Sky Perfect JSAT led advancers in the Nikkei 225 index shares with a rise of 10.93%. Ajinomoto Co. Inc led decliners with a fall of 4.61%.
123jump.com Staff
11 Mar, 2008
New York City
February consumer price inflation in China surged to 8.7%,the highest in 12 years. Severe weather conditions played a key role in lifting food price surge above 25%. Hong Kong stocks recovered from a 2% dip in the morning session to close up 1.3% as bargain hunters braved in. Utilities, insurance, and telecom stocks added. Sinopec fell after a government imposed price freeze on refined products.
123jump.com Staff
11 Mar, 2008
New York City
Stocks in India rebounded ahead of U.S. Fed and European central banks plan to add liquidity to the credit markets. DLF led the surge in realty stocks. GAIL India surged 7% after it increased spending on pipeline projects and it said it plans to issue bonus shares. ACC jumped 6% on the sale of a unit to HNG Group for 400 crore rupees. Tata Motors plan to raise $1 billion in international markets to pay for the Jaguar and Land Rover from Ford.
123jump.com Staff
11 Mar, 2008
New York City
The Federal Reserve Bank in coordination with other central banks offered to add liquidity of $200 billion to credit markets and accept wider securities as collateral. The second coordinated move in four months is designed to increase the willingness among traders to boost confidence and provide incentives to trade. The ECB will offer up to $30 billion in short term auction and the Swiss National Bank will offer up to $6 billion. The Reserve Bank of Australia added $721 million in liquidity.
123jump.com Staff
10 Mar, 2008
New York City
China''s trade surplus in February fell to $8.6 billion from $23.7 billion in 2007, a 63% decline. Difficult weather conditions played a key role in lowering production at many manufaturing plants across the country. Exports from China rose 6.5% to $87.4 billion and imports increased 35% to $78.8 billion. Exports to the U.S., second largest trading partner, fell 5% to $16.4 billion and imports from the U.S. surged 33% to $6.1 billion. The trade surplus with 27-nations EU rose 15% to $10billion.
123jump.com Staff
10 Mar, 2008
New York City
January machinery orders received by the 280 manufacturers operating in Japan rose by 26.5% to 3.1 trillion yen in January from a 6.8% decline or 2.4 trillion yen in December. Domestic machinery orders, excluding from ships and power companies rose 19.6% to 1.2 trillion. Stocks in Japan fell despite a rise in orders on the ongoing worries related to the health of the U.S. economy. Sumitomo Metal Mining led decliners in the Nikkei 225 index shares with a drop of 10.61%.
123jump.com Staff
10 Mar, 2008
New York City
The largest mortgage lender in Australia raised its rate on the mortgage loans by 35 basis points, more than 25 basis points raised by RBA last week. Several other banks have raised rates more than the increase from the RBA. AED Oil soared 19.5% after it agreed to sell its Timor Sea based oil field unit to Sinopec. The field delivered far lower than expected output. Heral Resources accepted $2.50 per share bid from a group of companies based in Indonesia and China.
123jump.com Staff
10 Mar, 2008
New York City
The ongoing U.S. credit market turmoil may force Carlyle Capital to face liquidation of $16 billion portfolio if lenders and the company do not reach an agreement. Bovis Homes plunged after it reported 17% decline in second half profit. Havas, Paris based ad agency, reported 4% rise in 2007 revenue of 1.5 billion and net income of 83 million euros compared to 46 million euros a year ago. Hypo Real Estate plunged 14% on the worries related to earnings.
123jump.com Staff
10 Mar, 2008
New York City
Financial and insurance companies fell sharply as investors worried that the current quarter earnings may be lower than estimated. Bear Stearns led the decline after several of its uderwritten bonds were downgraded by a rating agency. Fannie Mae and Freddie Mac fell on the worries that they may need to raise capital in the face of rising losses. Merrill, Morgan Stanley, Bear Stearns, and Wachovia traded at several-year lows. Oil closed at a record high near $108 a barrel.
123jump.com Staff
10 Mar, 2008
New York City
Familiar worries of the U.S. economic malaise dragged mining and banks lower. Rio Tinto and BHP Billiton declined 6% after the weak trading in the U.S. and in the European region. Copper, zinc, and nickel, tin, and led prices in London declined. HSBC fell on the persisten uncertainty related to credit markets. Bovis Homes Group plunged 12% and led the home builder lower after it reported lower earnings and said that home prices may not rise in 2008. Persimmons dropped 4%, Taylor Wimpey lost 6%.
123jump.com Staff
10 Mar, 2008
New York City
Bear Stearns plunged 10% after rumors circulated that it faces liquidity crunch. The company denied the rumors. Banks, brokers and insurance companies are trading at their lows last seen five to ten years ago. Fears of more credit market losses dragged stocks in the banking sector to their seven year lows. Bear Stearns is trading at a level last seen in 2002, Fannie Mae is trading at 1993 level, Citigroup at 1998, Lehman Brothers at 2004 level, and Merrill reached 2000 level.
