123jump.com Staff
24 Apr, 2008
New York City
Maruti unit sales in fiscal 2008 increased 13% on 18% rise in sales. Earnings in the year increased 11% depsite tighter depreciation policies. In the fourth quarter, earnings plunged 33% on higher depreciation expenses. Maruti exported 7% of its vehicles in the fiscal year. Separately cement maker, ACC reported slight gain in profit on 8% rise in sales to 1,861 crore rupees.
123jump.com Staff
24 Apr, 2008
New York City
U.S. stocks edged lower after durable goods order fell 0.3% in March. Mixed earnings from several companies also weighed on the market. Amazon.com fell after earnings rose 30% to 34 cents per share. Apple edged lower after earnings missed the analysts target and Starbucks plunged 11% on weak same store sales and weaker earnings outlook for the year. FMC declined after it reported earnings surged to $1.23. Fidelity National Title fell on weak housing market and earnings slide.
123jump.com Staff
24 Apr, 2008
New York City
China, in a move to improve sagging sentiment among investors lowered its stamp duty tax on trading to 0.1% from 0.3%. Stock averages in China surged 9% on the move but stocks may sag again on rising inflation and growing disillusion among investors. Major indexes in China have lost at least 30% before gains of today. In Hong Kong stocks edged higher as well. Property prices are expected to rise in the second quarter as investors shift their focus away from stocks.
123jump.com Staff
24 Apr, 2008
New York City
Stocks in Japan edged lower after JFE Holdings reported revenue rise of 8.6% and earnings decline of 12.6%. The company also hinted that a sharp rise in raw materials costs from Australia will force it to revise prices of steel products higher and did not give earnings guidance for the rest of the year. Fanuc also estimated 4.6% decline in operating income. The BOJ reported March corporate services price index rose 0.4% after rising 0.7% in February.
123jump.com Staff
23 Apr, 2008
New York City
European markets edged higher after a rise in metals and energy stocks. Infineon Technologies reported second quarter loss surged to 1.37 billion from 11 million euros after it wrote down the memory chip business that trades separately under the name Qimonda AG. Volkswagen sales rose 1.4% to 27 billion euros and earnings rose 26% to 929 million euro from 740 million euros. Essilor International SA reported first quarter sales rise of 3.6% to 762 million euros.
123jump.com Staff
23 Apr, 2008
New York City
U.S. stocks rebounded after morning weakness, led by strength in the tech stocks. Apple after the close reported earnings of $1.16 per share compared to 87 cents a year ago on $7.51 billion in revenue compared to $5.26 billion a year ago. Starbucks reported second quarter sales rise of 12% and earnings per share declined to 15 cents from 19 cents a year ago. Starbucks also guided 2008 earnings to be lower than 87 cents in 2007.
123jump.com Staff
23 Apr, 2008
New York City
Safeco agreed to be acquired by Boston based Liberty Mutual at $68.25 per share of $6.2 billion. The deal represents 51% premium from the closing price of Safeco stock on Tuesday. Privately held Liberty Mutual will pay cash for the deal and there are no financial contingencies. Safeco, Seattle based insurer has struggled in the past five years as auto insurance premiums have declined and costs of servicing claims have risen.
123jump.com Staff
23 Apr, 2008
New York City
Stocks in Japan advanced spurred by rising crude oil prices on growing demand from China and supply constraints from Iraq and Nigeria. In Tokyo trading Nikkei 225 rose 0.23% or 31.34 to 13,579.16, and the broader Topix Index increased 0.2% or 2.93 at 1,314.39.Exports in March grew 2.3% from the same period a year ago compared with 8.7% rise in February. Imports in March surged 11.1% on rising oil and materials costs.
123jump.com Staff
23 Apr, 2008
New York City
U.S. stocks edged higher after losing ground at the opening. Delta reported first quarter loss of $6.39 billion on revenue rise of 12% to $4.77 billion. Ambac Financial reported a loss of $1.66 billion compared to profit of $213 million from a year ago. Ambac reported loss in the quarter from CDOs of $1.73 billion and $1.04 billion in loan loss provisions. Health insurance company, WellPoint reported revenue rise of 3% to $15.55 billion and earnings decline of 25% to $588.1 million.
123jump.com Staff
22 Apr, 2008
New York City
European markets were cautious after a surprise plan by Royal Bank of Scotland to raise 12 billion. On the news banks traded lower. Euro reached another record high against dollar as talks of inflation fight circulated. Havas jumped 2.5% in Paris trading after it reported sales rise. Saint Gobain, building materials maker reported a decline in sales on the weakness in the North America.
123jump.com Staff
22 Apr, 2008
New York City
U.S. stocks fell in the final hours of trading on rising oil and falling dollar. Crude oil jumped above $119 in the session on Nigerian oil supply disruption. The dollar fell agaist euro on talks of firm interest rates in Europ. The euro rose above $1.60 to a dollar. Gold rebounded to $925 per ounce. Yahoo after the market hours reported its quarterly net income jumped to 37 cents from 10 cents a year ago on Alibaba.com stake sale.
123jump.com Staff
22 Apr, 2008
New York City
Royal Bank of Scotland announced a plan to raise
123jump.com Staff
22 Apr, 2008
New York City
Hong Kong stock indexes advanced after a surge in afternoon trading on rising speculation that Beijing will take additional steps to protect oil companies from rising crude oil prices. In Shanghai trading CSI 300 Index rose 0.9% to 3,296.28 and in Hong Kong trading Hang Seng added the same to 24,939. PetroChina advanced 6.5% and Sinopec increased 5.1%.
123jump.com Staff
22 Apr, 2008
New York City
Stocks in Japan continue to trade volatile and in the shadow of the U.S. market average trading. Nikkei 225 fell 1.1% to 13,547 after earnings from Bank of America and Texas Instruments dragged tech and financial stocks. Analysts also lowered outlook on Sony on the ongoing volatility in yen. More international companies are looking to issue bonds in yen. Bank of Canada was the latest in its samurai bonds. For the year nearly 1 trillion in yen bonds were issues by foreign companies.
123jump.com Staff
22 Apr, 2008
New York City
Reliance Industries fell after it reported 24% rise in earnings to 3,912 crore rupees. The earnings rose on higher crude oil refining margins and higher sale across various chemical segments. Tata Consultancy reported sequential profit decline on a marginal rise in revenue. The information services provider also issued a cautious guidance. TCS fell 10% and led decliners in the Sensex index.
