Mayank Mehta
25 Feb, 2009
New York City
CF Industries Holdings, Inc led gainers in the S&P 500 index with a rise of 15.5% after it received an hostile offer from Agrium. Del Monte Foods Company third quarter profit rises. Macys, Inc profit drops to $310 million. Sempra Energy fourth quarter net jumps 10%.
123jump.com Staff
25 Feb, 2009
New York City
Indian government is preparing to release third economic stimulus plan that includes reduction in service tax and other excise taxes on manufactured goods. The latest package is focused on businesses and lowers tax burden to manufacturers. India also unveiled port modernization plan.
123jump.com Staff
25 Feb, 2009
New York City
Agrium Inc makes an unsolicited offer to acquire CF Industries that values the fertilizer distributor at $3.6 billion, while CF is pursuing Terra Industries. The proposed merger between the two fertilizer makers and retailers is expected to save $150 million a year after three years.
123jump.com Staff
25 Feb, 2009
New York City
Ambac, the second largest U.S. bond insurer Ambac Financial reported fourth quarter loss of $2.34 billion on higher loan loss reserve. Stocks close higher in Asia and in Europe advance after the Fed Chairman Bernanke assured that U.S. banks will not be nationalized.
123jump.com Staff
25 Feb, 2009
New York City
Hong Kong government proposed a raft of tax subsidies to individuals, increase education spending and provide funding for job retraining in its latest budget proposal. The increased spending will drive the budget deficit higher. HK estimated economy to shrink between 2% and 3% in the current year.
123jump.com Staff
25 Feb, 2009
New York City
The apparel retailer quarterly net sales decreased 19% to $998 million on comparable store sales decline of 25%. Net income plunged 68% to $68.4 million in the quarter. Earnings per share decreased to 78 cents from $2.40 a year ago quarter. The company added 90 domestic stores and 7 international stores in fiscal 2008.
123jump.com Staff
25 Feb, 2009
New York City
Japan exports plunged in January by 45.7% to 3.5 trillion yen and recorded its highest monthly trade deficit in twenty eight years. Advertising spending falls 4.7% in 2008. Advantest Corp, the maker of chip assembly and testing equipment forecasted 60% decline in sales and plans to cut 1,200 jobs.
123jump.com Staff
25 Feb, 2009
New York City
Australian wages unexpectedly rose 1.2% in the fourth quarter from the previous quarter and rose more than 4% from a year ago period. Stocks declined on weak earnings from Pacific Brands and Seven Network. Pacific Brand also announced plans to cut 1,850 jobs in the next eighteen months.
123jump.com Staff
24 Feb, 2009
New York City
U.S. stocks rebounded after the Fed Chairman Bernanke testified that for now the largest banks have enough capital and do not need to be nationalized. Banks, retailers and realty companies surged and lifted broader market indexes after these two assertions.
123jump.com Staff
24 Feb, 2009
New York City
American International Group, Inc led the decliners in the S&P 500 index with a loss of 22.6%. Home Depot posts fourth quarter loss. Nordstrom, Inc earnings plunge but the stock surges. Target drops on weak sales and earnings.
123jump.com Staff
24 Feb, 2009
New York City
European exporters and banking stocks led the decline in the regional trading. Akzo Noble reported its first loss in eight years and navigation device maker Tom Tom reported a loss. German confidence dipped to 26-year low. More people withdraw cash from Swiss banks accroding to the central bank.
123jump.com Staff
24 Feb, 2009
New York City
UK stock edged lower after mortgage lending hovered at half the level a year ago, home builders are expected to take another write-off in land values and insurance stocks are the latest target of short sellers. The net mortgage lending rose in January but dropped 43% form a year ago.
123jump.com Staff
24 Feb, 2009
New York City
Japan stocks fell 1.5% as investors were unsettled by news that Nomura Holdings will issue shares at a premium in order to boost its balance sheet. However, losses were trimmed by a falling yen, which slumped the most in three months against the dollar to 95.85 yen from 94.61 yen yesterday.
123jump.com Staff
24 Feb, 2009
New York City
Ahead of the budget speech in Hong Kong, the benchmark index of stocks declined 2.9%. Consumer price index in January rose at 3.1% compared to a year ago. HSBC, China Life and Manulife declined on the weakness in financial stocks.
123jump.com Staff
24 Feb, 2009
New York City
European markets close lower as earnings worries and weak banks drag investors sentiment lower. Business confidence in Germany falls to 25-year low. Markets in Asia close sharply lower as investors see no sign of the end of the current financial crisis. Nomura plans to raise $3 billion.
