123jump.com Staff
10 Nov, 2008
New York City
Japan stocks surged on the speculation that economic stimulus package from China will lift machinery demand. Shipping lines and construction machinery companies rose. Tokyo stocks surged 6%. Japan foreign exchange reserve declines $18 billion to $977 billion at the of October.
123jump.com Staff
10 Nov, 2008
New York City
Stocks in Australia gained after China announced a stimulus package of Rmb 4 trillion. Commodities prices and resource sector stocks gained. Financial stocks declined after RBA noted that only half of recent rate cuts have been passed on to customers by banks.
123jump.com Staff
10 Nov, 2008
New York City
Northrop Grumman, the defense contractor third quarter 2008 earnings from continuing operations increased to $509 million or $1.50 per diluted share compared with $489 million or $1.41 per diluted share in the third quarter of 2007. Sales increased 6% to $8.4 billion.
123jump.com Staff
10 Nov, 2008
New York City
Whole Foods Market, the natural food retailer fourth quarter sales increased 16% to $1.8 billion and comparable store sales grew 0.4%, identical store sales declined 0.5%, and sales at Wild Oats stores were $159.3 million. Net income was $1.5 million and diluted earnings per share 1 cents.
123jump.com Staff
10 Nov, 2008
New York City
The Federal Reserve invested $40 billion in preferred stock in AIG and lowered original loan of $85 billion to $60 billion and set up separate facilities to purchase mortgage and other securities. The revised and relaxed plan will increase Fed involvement with AIG to $150 billion and increase risk.
123jump.com Staff
10 Nov, 2008
New York City
Asian stocks rallied after China announced a $585 billion plan to stimulate economy, increase infrastructure spending and help farmers and small businesses. Resource stocks closed sharply higher in Australia. Heave machinery maker IHI in Japan lowered annual earnings outlook.
123jump.com Staff
07 Nov, 2008
New York City
U.S. unemployment rose in October and an index of pending home sales declined. Crude oil hovered near $60 a barrel. IMF lowered outlook for global economy. General Motors and Ford seek federal assistance but fail to trim labor costs and executive compensation. British Airways lifted revenue outlook.
Mayank Mehta
07 Nov, 2008
New York City
General Motors and Ford reported weaker than expected results and cried out for federal help but fail to trim executive compensation and labor costs. GM dropped 10% and Ford declined below $2. Dolby Laboratories dropped 4% after third quarter net rose 10%. CB Richard Ellis surges 16%.
123jump.com Staff
07 Nov, 2008
New York City
British Airways lifted its revenue guidance to 4% from earlier projection of 3% increase. However, the six-month net dropped 75%. Commodities and energy stocks rallied on an increase in crude oil and metal prices. Stocks in London trading rose 1.8%.
123jump.com Staff
07 Nov, 2008
New York City
Stocks in Mumbai rose after a week of volatile trading. The IMF lowered growth projections for India, Europe, Australia and the U.S. and said that emerging markets will still lead the world economic growth but at a slower pace. Local banks lowered interest rates on loans. Rupee gains 4% in the week.
123jump.com Staff
07 Nov, 2008
New York City
Stocks in Hong Kong rose 3.3% and in Shanghai gained 1.7% on higher trading volume. The HKMA reported that foreign exchange reserve declined in October to $155 billion from $160 billion. Banks and real estate companies increased. Hong Kong Exchange dropped on broker comments.
123jump.com Staff
07 Nov, 2008
New York City
Global economic worries and lowered IMF estimates of global growth played into early sell-off of 7% in Tokyo trading. Stocks recovered to close down 3.6% for the day and 0.1% for the week. Japan Airlines second quarter operating profit fell to 26.3 billion yen from 65 billion yen a year ago.
123jump.com Staff
07 Nov, 2008
New York City
Australian stocks fell 2.3% after the IMF lowered the growth estimate for the country to 1.8%. Australia offered emergency funding of A$22 million to ABC Learning Centers, the child care company in voluntary administration.
123jump.com Staff
07 Nov, 2008
New York City
Revenues net of interest expense rose 3% to $7.2 billion from $7.0 billion a year ago. Income from continuing operations declined 23% to $861 million from $1.1 billion a year ago. Diluted earnings per share from continuing operations declined 21% to $0.74 from $0.94 a year ago.
123jump.com Staff
07 Nov, 2008
New York City
October unemployment rate rose to 6.5% from 6.1% in September. The U.S. economy has lost 1.2 million jobs in the first ten months in the year. Total number unemployed stand at 10.1 million. Ford Motor reported a fall in revenue and a higher quarterly loss. Disney net in the quarter dropped.
