123jump.com Staff
03 Nov, 2008
New York City
Circuit City plans to close 155 stores and lay off staff to preserve capital. The battered electronic retailer same store sales declined for two years in a row. Hartford Financial Services surged 45% after it said that it has $2 billion excess capital.
123jump.com Staff
03 Nov, 2008
New York City
Merger of two Sao Paolo banks Itau and Unibanco will create the largest financial group in Latin America and sixth largest in the Americas. The newly merged bank is named Itau Unibanco Holding will be controlled 66% by the shareholders of Itau.
123jump.com Staff
03 Nov, 2008
New York City
Interbank lending though tight, loan rates are on the decline for euro and dollar loans. The Libor rate for dollar loans declined to 2.86% and for euro loans fell to 4.74%.
123jump.com Staff
02 Nov, 2008
New York City
The mobile phone device maker estimated its market share in the third quarter declined to 38% and sold 7 million GPS-enabled devices. The company estimated global market for devices in the quarter of 310 million, an increase of 3% and for the year 2008 estimates unit sale of 1.26 billion.
123jump.com Staff
02 Nov, 2008
New York City
Yahoo third quarter gross revenue rose 1% from a year ago to $1.79 billion and increased 3% after traffic acquisition costs to $1.33 billion. The company earned 4 cents a share. Yahoo guided fourth quarter revenue between $1.77 billion and $1.97 billion and plans to reduce workforce by 10%.
123jump.com Staff
02 Nov, 2008
New York City
The fiscal 2009 core defense budget of $512 billion supports new programs and extensions of current projects for the company. The increase in the core budget is 6% from a year ago. The company has $2.5 billion of cash and $3.8 billion of long term loans at fixed rate, 28% of debt to capital ratio.
123jump.com Staff
01 Nov, 2008
New York City
Casino stocks rallied after Wynn Resorts reported higher than expected revenue. Macau, China based casino performed better than expected. Airline rallied on the hopes that recent fuel price declines and cut in industry capacity will lift earnings in the sector. Carnival Corp dropped its dividend.
123jump.com Staff
31 Oct, 2008
New York City
U.S. stocks edged higher after JP Morgan suspended foreclosures on loans issued to 400,000 homeowners with $110 billion of mortgages. Stocks edged higher in the afternoon on the JP Morgan action. European markets closed up 2% or better. In Asia, Japan lowered its key lending rate. India surged 8%.
123jump.com Staff
31 Oct, 2008
New York City
U.S. stocks rallied after JP Morgan Chase issued a statement to not add any more new loans to foreclosure process before offering modified terms. The widened program is likely to benefit 400,000 families with $110 billion mortgage loans.
123jump.com Staff
31 Oct, 2008
New York City
Stocks in Australia edged higher but for the month declined 12.7%, the worst decline in the month in more than three decades. New home sales in September fell 1.8% after dropping 1.3% in August. Lihir Gold production in the quarter ending in September rose 40%.
123jump.com Staff
31 Oct, 2008
New York City
Stocks in Mumbai surged 8% on the first of day trading. ONGC profit declined 5.7% and Bharat Petroleum and Indian Oil Corporation reported larger losses. A rise of 0.5% in rupee lifted stocks of software exporters. Punjab National Bank profit rose 31% and Kotak Mahindra profit declined 37%.
123jump.com Staff
31 Oct, 2008
New York City
Stocks in Hong Kong fell 2.5% and in Shanghai dropped 2% on weak bank earnings. Energy stocks fell after crude oil declined below $65 a barrel. Bank of Communications dropped 5.4% after it reported 22% in third quarter. China Unicom fell 4% after earnings declined 13%.
123jump.com Staff
31 Oct, 2008
New York City
The Bank of Japan lowered rates by 20 basis points to 0.3%. The BoJ chairman casted the decisive vote. In trading, Nikkei 225 index fell 5% to 8,576. The benchmark index dropped 24% in October. Nikon Corp cuts its profit estimate by 40%.
123jump.com Staff
31 Oct, 2008
New York City
The U.S. personal spending in September declined at 0.3% from the revised increase of 0.1% in August. Salaries and wages increased at the slower pace in the month than in August. The employment cost in the third quarter rose at 0.7% matching the gains in the first two quarters of this year.
123jump.com Staff
31 Oct, 2008
New York City
The online auction, payment processor and communication services provider reported third quarter revenue rise of 12% to $2.1 billion from a year ago. PayPal revenue rose 27% to $597 million and Skype revenue surged 46% to $143 million. eBay guided fourth quarter revenue of at least $2.02 billion.
