123jump.com Staff
09 Apr, 2009
New York City
The packaged food company reported net sales rose 6% to $3.1 billion from $2.9 billion in the quarter. Net quarterly income declined 37.5% to $193.2 million from $309.1 million. Earnings per share slumped to 43 cents from 63 cents in the year-ago quarter.
123jump.com Staff
09 Apr, 2009
New York City
Stocks in Tokyo surged after ruling party proposed to spend 15.4 trillion yen to arrest the widening recession and falling domestic demand. Nearly 40% of the budget is targeted at long term projects. Investor sentiment was also boosted by 1.4% rise in private sector machinery orders in February.
123jump.com Staff
09 Apr, 2009
New York City
U.S. stocks rallied after Wells Fargo reported better than expected earnings. Jobless claims rose above 600,000 for the fifth moth in a row. Trade deficit in February declined as imports plunged.
123jump.com Staff
08 Apr, 2009
New York City
U.S. Treasury appears to be ready help insurance companies as government deepen its reach into corporate America. The life insurers have been clamoring for the aid but are quite on executive compensation conditions. UK GDP declined at a faster rate in the first quarter.
123jump.com Staff
08 Apr, 2009
New York City
Auto stocks in Germany rebounded. UK stocks fell as the first quarter GDP estimate showed a deeper decline than in the fourth quarter. UK GDP decline in first quarter was estimated at 1.6%. Banks in Ireland declined after a rating agency lowered its view. Pernord Ricard to raise 1 billion euros.
123jump.com Staff
08 Apr, 2009
New York City
Life insurance rallied in trading after media report suggested that companies may have access to cheap financing from the U.S. Treasury. Merger between two home builders lifted Centex. Bed Bath & Beyond and Family Dollar rallied on earnings. Ryder plunged on lowered earnings.
123jump.com Staff
08 Apr, 2009
New York City
Pulte Homes agreed to acquire Centex for $1.3 billion and assume debt of $1.8 billion. The merger of two home builders will create the largest home builder with substantial foot print in Texas, California, Florida and in Carolinas. Centex surges 22% after the deal news.
Darlington Musarurwa
08 Apr, 2009
New York City
Australian consumer sentiment index increased in April and home loan approvals rose for the fifth month in a row. The sharp reduction in interest rates since September and government stimulus plan to sustain the economic growth lifted the sentiment. Stocks fell in trading. Equinox Minerals plunged.
123jump.com Staff
07 Apr, 2009
New York City
U.S. stocks closed lower ahead of earnings season. Banks and real estate trusts declined for the second day of trading this week. Eurozone lowered its estimate of economic growth for the fourth quarter. Alcoa after the close reported second quarterly loss in a row on 41% fall in revenues.
123jump.com Staff
07 Apr, 2009
New York City
Stocks in Hong Kong fell as investors locked gains after a three-day rally of 11%. Shanghai stocks rose as Beijing announced health care reforms lifting pharmaceutical and medical shares increased. At the end of March, HK foreign exchange reserve rises to $186.2 billion.
123jump.com Staff
07 Apr, 2009
New York City
U.K. manufacturing output drops 6.5% in the three months ending in February. Royal Bank of Scotland plans to cut 9,000 jobs to save nearly 2.5 billion pounds of cost.
123jump.com Staff
07 Apr, 2009
New York City
Casino stocks fell sharply after gambling revenues in February declined at a faster rate than in January. Alcoa dropped ahead of earnings. International Speedway plunged after it lowered its annual earnings estimate. Applied Materials fell after a recently place order was trimmed.
123jump.com Staff
07 Apr, 2009
New York City
By a unanimous vote the Bank of Japan left its key lending rate unchanged at 0.1% and accepted broader collateral from banks. The move is expected to improve credit access at smaller and regional banks. Stocks fell in the session. Softbank Mobile added 2 million net subscribers in fiscal 2008.
123jump.com Staff
07 Apr, 2009
New York City
Australian stocks declined after the Reserve Bank of Australia lowered rate by 0.25% to 3%. The rates have been cut by half in less than six months as the economy is facing its first recession in twenty years. The record low rates in five decades may have to be lowered more if economy remains weak.
123jump.com Staff
07 Apr, 2009
New York City
Earnings jitters and weakness in banks dragged market indexes lower. Soros predicts recent that recent gains as bear market rally. Central banks in Japan and Australia took steps to arrest falling economies. Japan left its key rate unchanged and Australia lowered its lending rate to 3% from 3.25%.
