123jump.com Staff
27 Oct, 2008
New York City
Insurance companies fell after CNA Financial swung to a loss in the latest quarter. AXA, Allianz, Hartford and MetLife dropped more than 9%. General Motors declined on the speculation that it may need federal aid for its merger with Chrysler. FPL Group dropped 4% after net income surged 45%.
123jump.com Staff
27 Oct, 2008
New York City
World markets slide after investors sold banking and resource stocks. Dollar and yen continue to rise against international currencies. Resource stocks fall in New York, Toronto, London and South America. Crude oil and metals prices drop to 3-year low.
123jump.com Staff
23 Oct, 2008
New York City
World markets continue their downward spiral. Markets in Asia dropped more than 3% and European markets decline. U.S. homes foreclosures surged at the end of the third quarter by 71%. California, Florida, Arizona, and Nevada led the foreclosures.
123jump.com Staff
22 Oct, 2008
New York City
Stocks in Japan plunged in Wednesday trading as yen rises and worries of earnings at banks mount. Net profit at MUFJ may be lower than previously estimated. NEC reversed its earlier profit forecast and predicted net loss for the year. Fuji Heavy Industries and Hitachi Construction Machinery dropped.
123jump.com Staff
22 Oct, 2008
New York City
Stocks in Hong Kong fell sharply after earnings worries dominated trading. Jinagxi Copper declined 13% after earnings dropped 27% and Huaneng Power fell 8% on a record loss forecast from the company. Citic Pacific plunged 25% after it recorded $2 billion in loss tied to derivatives.
123jump.com Staff
22 Oct, 2008
New York City
The rise of dollar, decline in interbank lending rates and a drop in metals and crude oil prices would generally lift investors sentiment. But, investors focused on economic slowdown and declining profit at industrial, mining and energy companies. Dollar rise against and euro. Latin markets plunge.
123jump.com Staff
22 Oct, 2008
New York City
EMC and Apple gained on earnings in weak trading. Air Products dropped 5%. Broadcom surged on a sharp rise in earnings. ConocoPhillips declines on weak crude oil prices. AT&T declined 5%. Resource stocks fall as base and precious metals and oil prices decline more than 5%.
123jump.com Staff
22 Oct, 2008
New York City
iPhone sales surged 600% in the quarter from the prior year quarter lifting Apple Inc revenue to $7.9 billion, profit to $1.14 billion or $1.26 per diluted share from $6.22 billion in sales and $0.90 billion net or $1.01 a share. International sales accounted for 41%.
123jump.com Staff
22 Oct, 2008
New York City
Stocks around the world decline on the worries that international trade will shrink as global economies slowdown. Exports from China are likely to fall which will lower demand for raw materials. Banks drop in Euorpe on the worries that many leveraged buyout deals will unravel.
123jump.com Staff
21 Oct, 2008
New York City
Revenue in the third quarter rose 5% to $25.3 billion or 3% in constant currency from a year ago. Earnings per share rose 22% to $2.05. Free cash flow in the third quarter fell to $2.1 billion, a decline of $500 million from a year ago. IBM guided $8.75 a share for the full year 2008.
123jump.com Staff
21 Oct, 2008
New York City
Stocks in U.S. fell on the weak earnings outlook from several industrial companies. Investors, focused on economic conditions overlooked a drop in overnight lending rates between banks below charged by the Fed. The dollar rose to a 20-month high. Argentina may nationalize pension funds.
123jump.com Staff
21 Oct, 2008
New York City
The Fed provided additional facility of $540 billion, this time to support the money market mutual funds. In the last five weeks the funds have seen withdrawals of $500 billion as crisis of confidence spreads to short term lending or commercial paper market.
123jump.com Staff
21 Oct, 2008
New York City
The cement company plans to sell assets worth $2 billion and reduce its leverage on the balance sheet. During the quarter, free cash flow after maintenance capital expenditures reached $957 million, 1% lower than in the same period of 2007. The company recorded $271 million in currency swaps.
123jump.com Staff
21 Oct, 2008
New York City
Western Union, the money transfer service provider plunged after it tightened its earnings guidance. The company did not back its long term earnings goals. ManPower, the employee staffing service provider dropped 10% after it reported a quarterly loss.
123jump.com Staff
21 Oct, 2008
New York City
Copper and crude oil prices fell sharply in the morning trading in New York. Canada lowered its rate for the second time this year and indicated that the economy may just avoid a recession. Exports from Germany and China are weak and China recorded its weakest quarterly economic growth rate.
