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.
123jump.com Staff
21 Oct, 2008
New York City
The Bank of Canada lowered its key lending rate 25 basis points to 2.25% for overnight lending. The second cut in rate this month follows the previous rate cut of 50 basis points on October 8. The central bank also lowered the economic growth rate to 0.6% for this and next year but not a recession.
123jump.com Staff
20 Oct, 2008
New York City
The company lowered its headcount by 5% in the first nine months of the year. The quarterly breakeven rate will decline from $115 million in 2008 to $95 million in 2009. In the third qurter the investment bank reported $72.7 million in revenue and $21.7 million in pre-tax loss.
123jump.com Staff
20 Oct, 2008
New York City
For the first nine months economic growth in China eased to 9.9% from 12.2% in the prior year peorid and consumer prices in September rose 4.6%. China trade surplus at the end of first three quarters of this year rose to $181 billion, a decline by $4.7 billion.
123jump.com Staff
20 Oct, 2008
New York City
Australian stocks surged 4% after money market rates declined and crude oil and metals prices gained. Producer price index for three months ending in September rose 2%. Australian dollar gained 1.5% against one U.S. dollar.
123jump.com Staff
20 Oct, 2008
New York City
U.S. stocks surged nearly 5% after the talks of second stimulus package was endorsed by the Fed chairman. Crude oil rebounded ahead of Opec meeting. Brazil surged 8% and Canada soared 7%. In Europe, UK surged 5% on a rise in commmodities and energy prices. ING Group rebounded 20%.
123jump.com Staff
20 Oct, 2008
New York City
The UK first half budget deficit rises to
123jump.com Staff
20 Oct, 2008
New York City
Stocks in Japan rose on the hopes that the earnings for the latest quarter will be better than expected. Panasonic operating profit is likely to be higher than expected and steel makers are expected to revise earnings higher for the year. Exporters may benefit from weaker yen.
123jump.com Staff
20 Oct, 2008
New York City
Rupee dropped to 49 to a dollar, record in the last eight years. In addition, the RBI lowered the rate full percentage point to 8% to improve liquidity in the short term lending market. Software exporters gained on a fall in rupee and realty stocks rose on a decline in interest rates.
123jump.com Staff
20 Oct, 2008
New York City
Intel third quarter revenue rose 8% from the previous quarter to $10.2 billion. Nearly 45% of total revenue was related to notebooks and other mobile devices. Gross margin in the quarter rose 58.9%, higher than a year ago and in the second quarter. Cash flow from operations was $3 billion.
