123jump.com Staff
19 Oct, 2008
New York City
Cemex second quarter revenue rose 29% to $ 6.4 billion on Rinker acquisition. Operating earnings increased 21% to $1.37 billion. Cost savings from Rinker acquisition are expected to reach $400 million by 2009. Cement, ready mix and aggregates sales fall more than 20% in the U.S. in the quarter.
123jump.com Staff
19 Oct, 2008
New York City
Coca-Cola posted a better-than-expected quarterly profit on strong international demand that offset a drop in volume at home. Net income rose 14% to $1.89 billion in the quarter from $1.65 billion a year ago and earnings per diluted share of 81 cents, the eighth consecutive quarterly rise.
123jump.com Staff
19 Oct, 2008
New York City
The company is expected to participate in the TARP capital purchase program along with Bank of America to issue $10 billion of non-voting preferred stock and related warrants to the U.S. Treasury. At quarter end Tier 1 and total capital ratios were approximately 8.7% and 14% respectively.
123jump.com Staff
19 Oct, 2008
New York City
Johnson & Johnson third quarter revenue rose 6.4% from a year ago to $15.9 billion and net income increase 24% to $3.3 billion. Earnings per share increased to $1.17 from 88 cents a year ago. The company has used $7.4 billion of $10 billion repurchase program started since August 2007.
123jump.com Staff
17 Oct, 2008
New York City
Stocks in Australia closed lower in a volatile trading. Weak crude oil, base and precious metal prices contributed to the decline in resource stocks in the region. The spread in the interbank lending rate between overnight and 3-month loans fell after the RBA injected liquidity in the money market.
123jump.com Staff
18 Oct, 2008
New York City
The two leading indexes in China, SCI and CSI 300 dropped 69% in one year of trading and are down 66% for the year and Hang Seng index in Hong Kong dropped to a 3-year low and lost nearly 50% from a year ago. Hang Seng index reached its peak at the end of October last year.
123jump.com Staff
17 Oct, 2008
New York City
Stocks in Japan rose on the expectations that the government will soon release second economic stimulus package. Fall in crude oil prices and the talks of second stimulus package lifted the Nikkei 225 index 2.8%. Electric utilities surged more than 8% and retailers gained.
123jump.com Staff
17 Oct, 2008
New York City
U.S. home starts in September dropped to 26-year low and fell two-third from the peak only two years ago. Crude oil gained on a speculation that OPEC will agree on a lowered production volumees. European markets close higher. Natural resource linked markets, Peru, Canada and UK closed higher.
123jump.com Staff
17 Oct, 2008
New York City
Crude oil prices rebounded in London trading on a speculation that member nations will agree on a revised production quota imposed by OPEC. The association advanced its meeting next week to set price and production targets. Iran and Venezuela are leading the charge for production freeze.
123jump.com Staff
17 Oct, 2008
New York City
Indian stocks plunged below 10,000 for the first time in two years led by a fall in financial and realty stocks. Weak investor confidence, tight interbank lending and rising interest rates played to the investor sentiment. Mutual funds redemptions stay at elevated levels.
123jump.com Staff
17 Oct, 2008
New York City
U.S. stocks rebounded from the morning descent on weak existing home sales data confirmed the broad trend in the economy. Investors returned to the market in the early afternoon to cover the expiring options. Home builders fell. Google shot up on stronger than expected earnings.
123jump.com Staff
17 Oct, 2008
New York City
Advanced Micro rose after the quarterly loss declined. Google surged 9% after quarterly earnings rose 26%. Honeywell fell after earnings rose 16%. ING Groep NV plunged 29% on capital worries. Wilmington Trust rose after net income fell 50%.
123jump.com Staff
17 Oct, 2008
New York City
U.S. home starts fell to 26-year lows as difficult lending conditions drive speculators away from the market. Total new homes construction starts has fallen nearly two third from the record in January 2006. Google third quarter sales and earnings rise. European markets ride on a rise in oil prices.
123jump.com Staff
16 Oct, 2008
New York City
Shanghai and Hong Kong stocks plunged on the worries that exports from the region will decline as the U.S. enters a recession. The shipping freight rate index, Baltic Dry Index plunged 10% to the lowest in five years and dragged ship liners to 15% decline.
123jump.com Staff
16 Oct, 2008
New York City
Japan stocks plummeted 11.4% tracking losses in New York. Construction machiery, financials and exporters fell sharply. Komatsu, Hitachi Construction Machinery and Kubota Corp dropped more than 15%. Prime Minister Aso said that the bank bailout plan may not be sufficient.
