123jump.com Staff
20 Oct, 2008
New York City
The financial services company reported third quarter revenue decline of 28% from a year ago and 8% fall from the second quarter. The company lost $2.8 billion or 60 cents per share in the quarter. Citi recorded nearly $10 billion in charges related to consumer lending and mortgage securities.
123jump.com Staff
20 Oct, 2008
New York City
Eaton and Halliburton rose after reporting better than expected earnings. Hasbro dropped 4% after net income in the quarter dropped 14% from a year ago. Landrys surged 29% after the company agreed to an amended offer to sell to its chief executive. Mattel net income in the quarter was flat.
123jump.com Staff
20 Oct, 2008
New York City
U.S. stocks rose after interbank lending rates dropped. Quarterly earnings from Halliburton and Eaton rose. Crude oil edged above $74 a barrel. Financial stocks rose after Fed chairman Bernanke endorsed a second stimulus package. NRG surged after Exelon offered 37% premium.
123jump.com Staff
20 Oct, 2008
New York City
ING Group, the Dutch insurance giant is forced to accept
123jump.com Staff
19 Oct, 2008
New York City
JPMorgan Chase anticipated fourth quarter earnings benefit of between 10 and 12 cents from WaMu purchase and 50 cents additional earnings for 2009. The company increased loan loss reserves in the quarter by $1.3 billion to a total of $15.3 billion. Home equity originations are down 77%.
123jump.com Staff
19 Oct, 2008
New York City
PepsiCo revenue rose 20% to $11.24 billion from a year ago. The company expects operating cash flow of $7.3 billion and capital expenditures of $2.5 billion. The company repurchased through the end of the third quarter $4.2 billion of shares. The domestic beverage business continues to struggle.
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.
