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Market Update

Hong Kong, Shanghai Stocks Fall

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

Stocks in Hong Kong and in Shanghai declined after investors sold stocks on recent gains in stocks. Coca-Cola proposed acquisition of Huiyuan Juice is still under review. China added new anti-monopoly regualtions last year. Ahead of voting on rights issue, HSBC traded higher.

U.S. Housing Starts Rise; PPI Edges Up

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

U.S. housing starts in February rose after falling sharply in January. The multi-family units construction starts surged after hovering near three decade lows. Separately, a measure of wholesale price index increased in the month from January but still lower from a year ago.

Japan Service Index Rises

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

Stocks in Tokyo surged on an unexpected rise in service index in January. The benchmark index closed up 3.2% on the report. Realty stocks surged for the second day in a row. Tokyo Land Co. surged 8.6% and Sumitomo Realty soared 8.2%. Mitsubishi UFJ Financial Group led financial with a rise of 8.2%.

Australian Stocks Rise, Rate Cuts Likely

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

Australian stock index surged after the Reserve Bank of Australia released its latest minutes of meeting. The statement suggested that the central bank has flexibility to lower rates further if economic conditional turn weaker. Chinalco purchase of Rio may fall under more scrutiny.

Intrepid Potash Q4 Earnings Call Transcript

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

Intrepid Potash fourth quarter sales increased 41.2% to $ 79.49 million with net income growing four fold at $22.7 million, from prior year quarter due to average potash price shooting 243% to $840 per metric ton. Earnings per share were 30 cents.

Big Lots Q4 Earnings Call Transcript

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

The retailer fourth quarter sales fell 3.2% to $1.37 billion and net income dropped 14% to $78.8 million. Earnings per share were 96 cents as against $1.04 in the prior quarter. The company expects to earn $1.75 to $1.90 per share in fiscal 2009.

Korn Ferry Q3 Earnings Call Transcript

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

Talent management solution provider third quarter fee revenue dropped 32% to $136.2 million with operating earnings touching $5.6 million. Earnings per share were a loss of 52 cents against earnings of 37 cents in the prior year quarter.

Rally in New York Fizzles; Weakness in AmEx

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

U.S. stocks lost earlier gains as markets focused persistent weakness in financial sector and rising delinquencies at American Express. European and Asian markets closed higher on the hopes that governments will spend more money in assisting banks. Barclays suggested stronger than expected business.

London Stocks Close Higher; Barclays Soars

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

Shares in London ended in positive territory as impressive gains by Barclays and Land Securities led the rally. Barclays surged on optimism that it was in talks with a prospective buyer of its ETF unit, iShares.

European Banks Lead Indexes Higher

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

Major European bourses advanced on Monday with stocks closing higher across the board. Banks led gainers in the region on hopes that the governments of developed nations will approve more capital to purchase illiquid securities. UBS is expected to eliminate additional 5,000 jobs.

AIG Surges 19%; SanDisk Drops 7%

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

American International Group, Inc led the pack of gainers in the S&P 500 with an 18.6% rise. On the downside, shares of SanDisk Corporation plummeted 7.2%. Of the stocks in S&P 500 index, 400 increased, 97 declined and 3 were unchanged.

The Cooper Companies Q1 Earnings Call Transcript

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

The specialty medical products company reported quarterly revenue increased 3% to $251.1 million. Net quarterly income surged 246% to $23.9 million. Earnings per share rose to 53 cents from 15 cents a year-ago quarter. The company estimates earnings between $2.16 and $2.36 a share in fiscal 2009.

Indian Stocks Up on G20 and Stimulus Hopes

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

Stocks in India closed higher largely due to forecasts of the execution of an eagerly anticipated stimulus plan by the country

Asian and European Stocks on the Rise

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

Stock exchanges in Asia closed higher as global optimism prevailed on Monday. Europe

Hong Kong and Shanghai Indices Advance

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

Shares in Hong Kong and Shanghai posted gains Monday on the back of encouraging economic reports and government announcements.