- 123jump.com Staff
- 17 Aug, 2009
- New York City
Global stocks decline after a sell-off that started in Asia and spreads to Europe and Americas. Resource stocks led the decliners on weak economic reading in Japan and China and worries that economic rebound may be further away than estimated.
- Darlington Musarurwa
- 17 Aug, 2009
- New York City
Japan GDP rebounded 0.9% in the second quarter ending in June on a turnaround in exports and a rise in industrial production. Most economists attributed the milder than expected rebound as temporary. Stocks declined sharply on weak commodities prices and U.S. consumer confidence report.
- Darlington Musarurwa
- 17 Aug, 2009
- New York City
Australian stocks declined after Asian markets and commodities prices fell. Copper led the decliners in the metals trading. Fortescue Metals offered 35% discount to Chinese steel maker, breaking the long impasse the discussion between Chinese steelmakers and Australian iron ore miners.
- Mayank Mehta
- 17 Aug, 2009
- New York City
The benchmark index in Mumbai plunged 4% as markets in Asia drop sharply. Companies in India seek capital infusion through public offering and courting international investors. Nearly nine companies are looking to raise a total of $1.5 billion. Rupee declined on monsoon worries.
- 123jump.com Staff
- 15 Aug, 2009
- New York City
Kenneth Cole second quarter consolidated net revenues declined only 15.5% to $93.9 million driven by improved gross margins and effective cost controls. Net loss was $3.2 million or 18 cents against $2.0 billion and 11 cents in the prior year quarter. Comparable same-store sales declined 14.7%.
- Mukesh Buch
- 15 Aug, 2009
- New York City
For all those who believe inflation is benign and under control may need to think again. The inflation index in the last eight years has jumped 25% in addtion to the surge of 100% in the previous decade. Dole Food filed $500 million offering to repay debt. BB&T surges on a deal to acquire Colonial.
- Mayank Mehta
- 14 Aug, 2009
- New York City
Porsche agreed to sell 10% stake to Qatar and the sovereign fund will also acquire options in Volkswagen AG. Volkswagen plunged 15% after it agreed to acquire Porsche. Hochtief AG gained after it plans to spin off its portfolio holdings in airports and toll roads.
- Mayank Mehta
- 14 Aug, 2009
- New York City
UK home possessions in the second quarter increased but at a slower pace compared to the first quarter. For the year the industry association still estimates possessions to rise to 65,000. Man Group sells remaining stake in MF Global to Nomura.
- Mayank Mehta
- 14 Aug, 2009
- New York City
Barnes & Noble plunges after negative comments from a broker. Abercrombie & Fitch Co declares quarterly dividend. Nordstrom second quarter sales decreased 6% and net profit fell 27%. Rambus surges 10% in weak chip sector stocks.
- Darlington Musarurwa
- 14 Aug, 2009
- New York City
Governor Stevens of the Reserve Bank of Australia may tighten the rates from the historic lows nearly ten months ago. Australian dollar gained in the backdrop of comments and rising sentiment in the stock market. Leighton surged after positive earnings outlook. PMP reported annual loss.
- 123jump.com Staff
- 14 Aug, 2009
- New York City
NIVIDIA second quarter revenue dipped 13% to $776.5 million due to costs related to the die/packaging material set issue and loss improved 12.9% to $106.3 million due to cost cutting measures. Loss per share was 19 cents as against a loss of 22 cents in the year-ago quarter.
- Darlington Musarurwa
- 14 Aug, 2009
- New York City
Japanese demand for services increased 0.1% in June as the economic stimulus spurs the demand across the economy. Commodities and resource linked stocks jumped on the expectations of higher Chinese demand. Container ship lines attempt to lift rates ahead of the busiest shipment season.
- Mayank Mehta
- 14 Aug, 2009
- New York City
India may be forced to lower its economic target in the current year near 6%. Weak monsoon, rising food prices and resurgent world energy prices may slow the economic expansion. The stocks in India may face head-winds on stretched valuations.
- 123jump.com Staff
- 13 Aug, 2009
- New York City
CB Richard Ellis revenue was $955.7 million for the second quarter, down 27% from last year. The company posted a loss of $6.6 million or 2 cents per share against profit of $16.6 million or 8 cents per share in the year ago quarter.
- 123jump.com Staff
- 13 Aug, 2009
- New York City
Stocks in Japan are expected to trade higher after the economies of Germany and France expanded and the benchmark indexes in the U.S. closed higher. A rise in metals and energy prices are also expected to lift resource stocks.