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Market Update

Accenture Q3 Earnings Call Transcript

123jump.com Staff
11 Jul, 2009
New York City

Accenture third quarter revenue declined 15.9% to $5.54 billion hurt by unfavorable foreign exchange rates. Net income slipped 5.35% to $444 million. Earnings per share were 68 cents compared to 74 cents in the year ago quarter.

CIT Plunges 75% After Government Talks Fail

Mukesh Buch
16 Jul, 2009
New York City

CIT, the lender to small businesses and retail trade for more than a century is struggling to negotiate debt workout with its major lender after its negotiations with the government agencies failed. The lender may need more than $4 billion to avoid bankruptcy.

Gloabl Markets Advance on Earnings Outlook

123jump.com Staff
16 Jul, 2009
New York City

Earnings were in world markets as investors digest earnings from banks, technology companies. Nokia and Marriott declined on weak outlook and banks dropped ahead of earnings. CIT plunged 75% as the century old lender failed to gain additional financial support from the U.S.

HK Index Up on Earnings; Your-Mart IPO Surges

123jump.com Staff
17 Jul, 2009
New York City

Investors in Hong Kong and Shanghai took optimistic views on the earnings after China estimated second quarter economic expansion at 7.9%. Your-Mart initial public offering in Shenzhen Stock Exchange surged 94% following in the footsteps of two other IPOs last week.

Allied Carpets in Adminstration

Sarla Buch
17 Jul, 2009
New York City

Allied Carpets in a pre-packaged deal under voluntary administration reemerged with fewer stores and new lead investor. The fate of the 166 of the 217 stores with 1,100 employees is uncertain, even though the restructuring administrator indicated optimistic outcome.

Australian Index Weekly Gain of 5.4%

123jump.com Staff
17 Jul, 2009
New York City

Stocks in Australia closed higher as metals and media stocks edged up. The price indexes for exports and imports declined by record amounts since the data have been collected in 1974. Macquarie Countrywide Trust surged 20% after it sold its 75% stake in a portfolio of U.S. properties.

Sensex Drops 1.4% in India; RIL Falls 4.3%

123jump.com Staff
22 Jun, 2009
New York City

Stocks in Mumbai trading opened higher on the expectations of higher 3G license revenues to the government but deteriorated in the afternoon. The Worlds Bank forecasts global economy to contract 2.9% in 2009 from previous decline of 1.7% in March.

British Air Raise

123jump.com Staff
17 Jul, 2009
New York City

British Airways after denying for months it needs additional capital raised

U.S. Banks Lead Decliners, Home Builders Shine

123jump.com Staff
17 Jul, 2009
New York City

U.S. stocks edged down with banks leading the decliners and home builders the gainers. Bank of America set aside higher reserves to account of rising losses in mortgage and personal loans. IBM surged on earnings. Commodities rallied after housing starts rebounded.

Tired Global Markets Rally; Offerings Rise

123jump.com Staff
16 Jun, 2009
New York City

A growing chorus of investors are staying on the sidelines. The growing skepticism on market fundamentals, weak sentiment in commodities prices and flood of new stock offering in Asia, Europe and the U.S. Industrial production declined 1.1% in May but housing starts rebounded from April.

General Mills Q4 Earnings Call Transcript

123jump.com Staff
16 Jul, 2009
New York City

General Mills fourth quarter revenue rose 5% to $3.65 billion and net inocme nearly doubled to $358.8 million due to hedging impacts and increasing eat at home habits. Earnings per share were $1.07 up from 53 cents a year-ago.

L&T, Mahindra, State Bank of India Rise

Darlington Musarurwa
16 Jun, 2009
New York City

Stocks in India increased after falling for three days in a row as corporations file higher advance taxes. State Bank of India tax payment surged 61%. HDFC Bank and other smaller banks also paid higher advance taxes. L&T tax payment increased 16% and Mahindra & Mahindra paid 25% more.

ConAgra Foods Q4 Earnings Call Transcript

123jump.com Staff
08 Jul, 2009
New York City

ConAgra fourth quarter net sales increased 8% to $3.3 billion but net profit declined 13% to $174.7 million despite the sale of the commodity trading unit. Earnings per share were 39 cents compared to 41 cents in the same period last year.

Australian Jobless Rate 5.8%; ANZ Offering

Trupti Mehta
09 Jul, 2009
New York City

Stocks in Australia recovered in the afternoon. Unemployment in June increased to 5.8% as employers eliminated 21,400 jobs. ANZ Banking Group raised A$2.2 billion after it raised A$2.5 billion in May.

Japan Stocks Gained on China Orders

Darlington Musarurwa
01 Jun, 2009
New York City

Stocks in Japan and in Asia closed higher after manufacturing index in China increased. The prospect of higher exports also lifted stocks of steelmakers, shippers and metal processing companies.