123jump.com Staff
10 Dec, 2008
New York City
Stocks in India rose on the hopes that global and local stimulus package will sustain economic expansion and corporate earnings growth. Recent rate cuts are likely to increase lending for home buyers and small businesses. Rupee strengthned against dollar. Real estate, banks and IT stocks advanced.
123jump.com Staff
11 Dec, 2008
New York City
U.S. international trade deficit widened in October as exports fell more than imports. Seasonally adjusted initial unemployment claims at the end of last week rose 58,000 to 573,000 from the previous week claims of 515,000. Bank of America said it will cut up to 30,000 jobs in the next three years.
123jump.com Staff
11 Dec, 2008
New York City
Foot Locker, an athletic retailer reported net income of $24 million or $0.16 per share for the third quarter compared with net loss of $33 million or $0.22 per share last year. Comp store sales decreased 1.7% and 2008 earnings excluding impairment charges are estimated between 50 and 63 cents.
123jump.com Staff
11 Dec, 2008
New York City
Dress Barn first quarter net earnings increased to $20.5 million or 32 cents a share, compared to $19.6 million or 30 cents a share in the quarter a year ago. Sales increased 3% to $376.4 million. The company expects full year earnings per share between 90 cents to $1.00.
123jump.com Staff
11 Dec, 2008
New York City
Ann Taylor specialty apparel retailer third quarter net loss of $13.4 million or $0.24 per share, compared to net income of $40.8 million or $0.66 per share a year ago. Net sales declined 12% to $527.2 million from $600.9 million in the quarter a year ago. Comparable same store sales declined 19.4%.
123jump.com Staff
11 Dec, 2008
New York City
China foreign trade rises in the first eleven months 29% from a year ago but faced a sharp deceleration in November. The latest data showed exports in the month declined 2.2%, first decline since June 2001. Imports declined at a faster pace indicating slowdown in domestic economy.
123jump.com Staff
11 Dec, 2008
New York City
Australian market averages fell after November unemployment rose to 4.4%. The Canberra Times reported that Qantas was charged with A$20 million on freight price fixing. Santos agreed to transfer 18% interest at an Indonesian location.
123jump.com Staff
11 Dec, 2008
New York City
Office vacancies in central Tokyo rose as more financial and services companies lay people off in the district. Separately, stocks edged higher on the optimism that the U.S. will pass $14 billion auto bailout plan and support auto parts makers who also supply to Japanese car companies.
Mayank Mehta
11 Dec, 2008
New York City
Urban Outfitters indicated flat sales in November and weak holiday sales environment. Gildan Activewear declined after it missed fourth quarter earnings and estimated sharply lower than expected earnings in the current quarter. lululemon Athleticca dropped on weaker than expected earnings.
123jump.com Staff
10 Dec, 2008
New York City
Rio Tinto, Australia based mining giant will eliminate 14,000 jobs and lower its debt further by $10 billion by the end of 2009. Falling metals prices and weakening demand is expected to cut sales and profit at the company in 2009. Australian stocks gained 1%.
Darlington Musarurwa
10 Dec, 2008
New York City
Machinery orders in Japan dropped 14.4% in October as the domestic economy slumps on weakening export orders. Stocks in Tokyo rose 3.2% on the hopes that the U.S. will soon offer a bailout plan of $15 billion to automakers. Beer and brewed beverages shipment dropped 8% in the month.
123jump.com Staff
10 Dec, 2008
New York City
Producer price index in China dropped to 2% increase in November from 6.6% rise in October. Fort the year, the index rose 7.6%. Foreign direct investment in November dropped 37% to $5.3 billion in China and for the year rose 26.5% in 11 months to $86.4 billion.
123jump.com Staff
09 Dec, 2008
New York City
UK stocks rose after traders speculated that global economic growth may revise next year on a large economic stimulus in the U.S., China and India. UK manufacturing dropped 1.8% in three months to October. Latest survey of estate agents shows weak housing market on the lack of home buyers.
123jump.com Staff
09 Dec, 2008
New York City
Westpac plans to raise A$2.5 billion to raise its capital. Australian business conditions decline in November. Industry group forecasts sharply lower economic growth in 2009 but not a recession.
123jump.com Staff
09 Dec, 2008
New York City
Japan revised its quarterly economic decline to 1.8% from the previous estimate of 0.4%. Sony Corp plans to eliminate 5% of its worldwide staff and save 100 billion yen by the end of fiscal 2010. The company will also trim its invetsment and manufacturing in Europe.
