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Market Update

Australia Holds Rates, Retail Sales Weak

123jump.com Staff
03 Mar, 2009
New York City

Australia keeps interest rates unchanged at 3.25%. Australia retail sales increase 0.2% to A$19.2 billion in January. Current account deficit falls 32% to A$6.5 billion in December quarter.

Lowe

123jump.com Staff
02 Mar, 2009
New York City

The home improvement retailer quarterly sales dipped 3.8% to $10 billion on comparable store sales fall of 9.9%. Net earnings plummeted 60% to $162 million in the quarter and earnings per share declined to 11 cents from 28 cents a year-ago quarter. The company opened 33 stores during the quarter.

United Natural Foods Q2 Earnings Call Transcript

123jump.com Staff
02 Mar, 2009
New York City

The food distributor quarterly net sales rose 2% to $847.6 million. Net income increased 50% to $13.6 million in the quarter. Earnings per share rose to 32 cents from 21 cents a year ago quarter. The company estimates earnings per share between $1.28 and $1.36 in fiscal 2009.

World Markets Plunge; AIG Loss, HSBC Offering

123jump.com Staff
02 Mar, 2009
New York City

World markets dropped as earnings worries, deepening economic crisis and as some of the largest banks and industrial companies fell sharply in New York. Markets in U.S., UK, Switzerland, Brazil and Argentina dropped more than 4%.

Millicom Drop 12%, State Street Fall 10%

123jump.com Staff
02 Mar, 2009
New York City

American Capital Ltd led the decliners in the S&P 500 index with a loss of 16.2%. American International Group, Inc posts $61.7 billion in fourth quarter loss. Atlas America, Inc posts loss in fourth quarter. Clear Channel Outdoor Holdings, Inc reports $3 billion loss in fourth quarter.

UK Stocks Plunge, HSBC Worries

123jump.com Staff
02 Mar, 2009
New York City

London market averages fell 5% after HSBC announced the largest rights issue of

Sensex Index Falls, January Trade Deficit

123jump.com Staff
02 Mar, 2009
New York City

Exports from India decline 15.9% to $12.38 billion in January and trade deficit in the month persisted at elevated level in the month. For the ten months deficit surged 50% despite a fall in oil prices. Sensex Index dropped 3.2%. National elections are announced to begin on April 16.

Australian Stocks Fall on Weak Manufacturing

123jump.com Staff
02 Mar, 2009
New York City

Australian wages and salaries increase 0.2% in the December quarter and new home sales advance 8% in January. Australian manufacturing index drops in February. Stocks in Australia fell on a weakness in metal prices and worries that industrial activities will slowdown in the rest of the year.

Stocks in Tokyo Plunge, Auto Sales Dip

123jump.com Staff
02 Mar, 2009
New York City

Japan stock indexes dropped after wages dropped in January on worsening conditions on the global financial markets. Domestic sales of new cars excluding mini-vehicles fell 32.4% to 218,212 units in February as sales from Toyota and Honda plunged 32% and 21% respectively.

HSBC Rights Issues at 51% Discount

123jump.com Staff
02 Mar, 2009
New York City

Stocks in Hong Kong fell sharply after HSBC reported a larger than expected loss and proposed to raise 12.5 billion pounds at 51% discount to the latest closing price.

GDP Shrinks at 6.2%, GE Cuts Dividend

123jump.com Staff
27 Feb, 2009
New York City

U.S. stocks closed lower after a sharp revision in the fourth quarter estimate of GDP shrink to 6.2%. General Electric cut 68% its dividend and save $9 billion. Citigroup agreed to let the U.S. increase its stake in the bank to 36% after it converted $25 billion in preferred stock to common stock.

Bank Worries in Europe

123jump.com Staff
27 Feb, 2009
New York City

Bank nationalization fears drag European shares down. Deutsche Telekom gains on better than expected earnings. Germany inflation unexpectedly climbed in February weighing the sentiment in trading in markets in Germany, France and Switzerland.

Citi, Bank of America, Hartford Financial Drop

123jump.com Staff
27 Feb, 2009
New York City

The Interpublic Group led gainers in the S&P 500 index with a rise of 3.0%. The Gap, Inc post lower profits. MoneyGram International, Inc turns a fourth quarter profit. Warner Chilcott Limited swings to loss in fourth quarter. Banks fell after Treasury converted its preferred share to common stocks.

Weak Rupee Hovers Trading in India

123jump.com Staff
27 Feb, 2009
New York City

India foreign exchange reserves falls $165 million in the week ending February 20. India

Shanghai Stocks Drops 2.3%, Two-day Drop 7%

123jump.com Staff
27 Feb, 2009
New York City

Agricultural Bank of China to issue Rmb350 billion bonds in 2009. In Shanghai trading stocks fell for the third day in a row and closed down more than 7% for the week. Investors are increasingly revising their economic expectations outlook downward as global economic crisis deepens.