123jump.com Staff
25 Nov, 2008
New York City
Stocks in Mumbai fell on the worries that rising government spending will widen fiscal deficit and global markets weakness will slow exports growth. The economy is likely to grow at a slower pace between 6.5% and 7.5% in the current fiscal year. Reliance Industries drops 8% to 1,050 rupees.
123jump.com Staff
25 Nov, 2008
New York City
U.S. stocks edged higher after the Fed extended yet another loan facilities to lift asset and mortgage based markets. The latest move offers up to $800 billion in loan purchases and extends the Fed balance sheet to a new limit. The third quarter GDP decline was revised to 0.5%.
123jump.com Staff
25 Nov, 2008
New York City
Stocks in Australia surged 6% after metals and oil prices rallied. The second rescue package for Citigroup lifted the mood in trading and China plan to invest directly in the local stocks lifted trading sentiment. Qantas plans to cut its capacity and said it hedged fuel for 2009 at $106 a barrel.
Darlington Musarurwa
25 Nov, 2008
New York City
Stocks in Hong Kong surged on the second rescue package for Citigroup. World Bank lowered its annual economic growth target for China to 7.5%. China is considering investing as much as 10% of total market capitalization in local markets.
123jump.com Staff
25 Nov, 2008
New York City
Stocks in Tokyo rallied tracking the gains in the U.S. following the Friday holiday. Banks gained after the U.S. extended second rescue package to Citigroup. The Bank of Japan lowered its domestic economy assessment. Panasonic to pay $5.2 billion for a majority stake in Sanyo Electric.
123jump.com Staff
25 Nov, 2008
New York City
The Federal Reserve extended up to $800 billion of loan facilities to the mortgage and asset based backed loans market. The Fed is quickly running out of alternatives and is now deeply engaged in buying riskier loans and appears to take risk that most banks failed to manage.
123jump.com Staff
24 Nov, 2008
New York City
Church & Dwight reported third quarter net income of $49 million and earnings per share of 69 cents a share compared to $51.7 million and 75 cents a share in the prior year period on higher gross margin. The company forecast earnings per share between $2.83 and $2.85 for the full year.
123jump.com Staff
24 Nov, 2008
New York City
PetSmart, third quarter revenue increased 12% to $1.3 billion and net profit rose to $35.8 million or 28 cents a share compared to $29.5 million or 23 cents a share in the same quarter a year ago. Comparable store sales grew 5.4%.
123jump.com Staff
24 Nov, 2008
New York City
Stocks in Australia edged higher after gold and other metal prices gained. The surge in gold price lifted stocks of mining companies. Financial stocks rose as well after the U.S. decided to bailout Citigroup for the second time in less than two months.
123jump.com Staff
24 Nov, 2008
New York City
Hong Kong stocks edged higher after the U.S. announced yet another bailout plan for Citigroup. However, stocks in Shanghai dropped 4.3% as small businesses suffer from tight lending conditions. Trading volume and in both exchanges dropped. Air China plunged 10% on $454 million of fuel losses.
123jump.com Staff
24 Nov, 2008
New York City
Stocks in India edged lower in weak trading sentiment. Banks led the decliners but software services exporters gained earlier before closing lower on the hopes that lower operating costs will support earnings gains. Realty stocks fell after finance ministry report suggested lower economic growth.
123jump.com Staff
24 Nov, 2008
New York City
Stocks in New York and Europe surged on yet another bailout action by the U.S. The Fed, FDIC agreed to extended guarantee for Citigroup $306 billion loans and Treasury plans to inject $20 billion. Despite the size of the support from the U.S. the bank may not survive the current financial crisis.
123jump.com Staff
22 Nov, 2008
New York City
Vodafone the UK telecom operator net income declined 35% to
123jump.com Staff
22 Nov, 2008
New York City
GameStop, the entertainment software retailer sales increased 5% in the Q3 to $1.7 billion. Comparable sales fell 1.8%. Net earnings were $46.7 or 28 cents per share compared to $52.0 million or 31 cents per share a year ago. The company estimates Q4 earnings per share between $1.29 and $1.34.
123jump.com Staff
21 Nov, 2008
New York City
Asian stocks rallied on the hopes that more government intervention in the region will bolster the economic growth and sustain the domestic demand. The Bank of Japan kept its key lending rate at 0.3% and indicated that it is ready to add more liquidity in the financial system.
