- Mayank Mehta
- 06 Feb, 2009
- New York City
Banks and financial stocks led the gainers on the hopes that the U.S. Treasury plan will provide additional capital to the industry. Hartford plunges on second quarterly loss.
- 123jump.com Staff
- 06 Feb, 2009
- New York City
Reserve Bank of Australia lowers its annual economic growth forecast from 1.5% to 0.25% in the current fiscal year. The RBA continues lag with the global market development and forecasted growth in the economy when global economy is sharply decelerating. ANZ warns that first half profit drop of 15%.
- 123jump.com Staff
- 06 Feb, 2009
- New York City
Stocks in Hong Kong and in Shanghai rose sharply on the hopes that Beijing will release more funds and government stimulus to support the economy. However, Hong Kong finance chief sounded warning alarms as banks reported weak earnings in the latest quarter.
- Darlington Musarurwa
- 06 Feb, 2009
- New York City
Toyota Motor Corp. revenues fall 28.4% to 4.8 trillion yen in the third quarter. Sharp Corp reversed its earlier projection of income to a loss for the current year. Sharp now estimates a loss of 100 billion yen from a profit of 60 billion yen projected earlier.
- 123jump.com Staff
- 06 Feb, 2009
- New York City
U.S. benchmark indexes reversed their earlier losses of more than 1.5% and closed up between 1.5% and 2%. The sharp reversal came after the release of earnings from MasterCard Inc and expectations that the regional banks will soon be provided assurances of loss sharing by the Treasury.
- 123jump.com Staff
- 05 Feb, 2009
- New York City
European markets closed lower on weak profits from banks and weaker economic conditions. The European Central Bank left its key lending rate unchanged at 2% and the Bank of England lowered its rate by 50 basis points to 1%. Deutsche Bank, Swiss Re, Zurich Financial and Unilever plunged.
- Mayank Mehta
- 05 Feb, 2009
- New York City
Bank stocks remained weak in trading. Fifth Third, Huntington, Regions Financial declined. Bank of America fell further as the expectations of the bank nationalization gathered momentum. Akamai Technologies surged on better than expected results.
- Darlington Musarurwa
- 05 Feb, 2009
- New York City
The Bank of England cut its key lending rate by 0.5% to 1% as the UK economy shows no sign of stabilizing. The latest move comes on the expectation of inflation falling below 2%. Home prices in January declined 17% from a year ago but gained 1.9% from December.
- 123jump.com Staff
- 05 Feb, 2009
- New York City
Stocks in Australia fell as companies offer cautious views on earnings. Macquarie Group cuts its annual earnings by half on A$900 million write-off. New Zealand unemployment rate advanced to 4.6% at the end of the December quarter. Qantas Airways dropped to 12-year low on A$500 million offering.
- 123jump.com Staff
- 05 Feb, 2009
- New York City
Stocks in Mumbai fell 1.2% after foreign investors continue to withdraw from the capital markets. For the year so far, foreign investors have sold nearly 4,500 crore rupees of shares. The latest measure of inflation in India showed a decline to 5.07%. Inflation is expected to dip to below 2%.
- 123jump.com Staff
- 05 Feb, 2009
- New York City
January new car sales in Japan drop 28% on weak consumer demand and tight lending. Sales of Toyota fell 23.4%, at Nissan and Honda declined 31%. Mini-cars sales which are more than 70% of total sales declined 5.6%. Casio lowered its earnings estimate by 90%. NTT nine months sales edged 1.4%.
- 123jump.com Staff
- 05 Feb, 2009
- New York City
China offered tax rebate to textile and equipment industries. China in the last three months has offered similar subsidies to home buyers, banks and small businesses. The latest move is part of the broader attempt by China to sustain the latest economic expansion in the face of exports.
- 123jump.com Staff
- 04 Feb, 2009
- New York City
EMC fourth quarter revenue dropped 4% to $4 billion and earnings dipped 45.2% to $287.9 million. For the full year, EMC revenues rose 12%, earnings per share increased 14% and free cash flow growth of 17%.
- 123jump.com Staff
- 04 Feb, 2009
- New York City
U.S. stocks dropped on weak earnings and worries that financial system is still under duress. The Bank of America fell as market speculated that CEO Lewis may be replaced. A rise in commodities prices lifted miners in Europe, UK and in New York trading.
- 123jump.com Staff
- 04 Feb, 2009
- New York City
European stocks advance on a rise in commodities. Euro tumbles against dollar and yen on weak retail sales. Eurostat reported December retail sales declined 1.6% compared to a year ago and revised November sales were lowered. Roche fell on weak earnings.