- Darlington Musarurwa
- 15 Jan, 2009
- New York City
UK and European markets fell on the worries that the banks may need more capital and financial crisis is likely to get worse before it stabilzes. HSBC, Barclays, Deutsche Bank and RBS declined. The ECB lowered key lending rate 50 basis points to 2% and indicated near term uncertainty remains high.
- Mayank Mehta
- 15 Jan, 2009
- New York City
Banks and financial services stocks led the decliners in New York trading. Bank of America may need more capital from the government after the recently acquired Merrill Lynch lost more than expected. Most banks declined more than 10%. Marshall & Ilsley reported a loss.
- 123jump.com Staff
- 15 Jan, 2009
- New York City
Ruble continued its weeklong slide and reached to a new low in ten years. Ruble, now down more than 25% in the last five months against dollar, is expected to drop another 10% in the next three to six months if the crude oil prices remain below $50 a barrel.
- 123jump.com Staff
- 15 Jan, 2009
- New York City
Stocks in Australia dropped 4.3% after unemployment rate in December rose to 4.5%. The sharp increase in the rate is another confirmation that the commodities driven economy is decelerating rapidly. However, Rio Tinto coal production in the three months to December rose 8% from the previous quarter.
- 123jump.com Staff
- 15 Jan, 2009
- New York City
Machinery orders in Japan decline 16.2% to 754 billion yen in November, the sharp decline in orders was driven by weakness in domestic and foreign orders. Stocks plunged on weaker than expected orders. Nissan trims domestic auto production. Sanyo lowers the annual profit target to break even.
- 123jump.com Staff
- 15 Jan, 2009
- New York City
Latest economic measures in China to support steel and auto industry failed to lift market sentiment in Hong Kong and Shanghai trading. Stocks in Hong Kong fell 3.4% and Shanghai had negative bias. China proposed to offer one time tax relief to small car buyers. Foreign investment rose 24% in 2008.
- 123jump.com Staff
- 14 Jan, 2009
- New York City
Stocks in New York and European trading fell sharply. U.S. retail sales fell more than expected in December and European stocks declined after large losses at Deutsche Bank and a need for large capital at HSBC. Markets in Brazil, Canada, UK, Germany and Switzerland dropped sharply.
- Mayank Mehta
- 14 Jan, 2009
- New York City
Nortel plunges on bankruptcy filings. Tiffany declines on weak holiday sales. Bunge Limited and Under Armour decline on weak earnings outlook. Deutsche Bank drops on a larger than expected loss. HSBC falls on a need to raise capital of as much as $30 billion.
- 123jump.com Staff
- 14 Jan, 2009
- New York City
Stocks in Mumbai rose on the expectations of an out of court settlement between feuding billionaire Ambani brothers. Reliance Industries surged more than 10% and Reliance Capital gained 7.6%. HDFC Bank profit surged 45%, including the results of acquired Centurion Bank.
- 123jump.com Staff
- 14 Jan, 2009
- New York City
Stocks in London fell sharply after Morgan Stanley estimated a need of as much as $30 billion of additional capital for HSBC. Barclays suggested that it may eliminate additional 2,000 jobs. Stocks of banks and other financial institutions fell after Man Group asset under management declined.
- 123jump.com Staff
- 14 Jan, 2009
- New York City
The global financial services firm reported net revenues were $1.8 billion and net loss was $2.2 billion, or $2.34. The company received $10 billion under TARP program and raised $9 billion from Mitsubishi UFJ. Net leverage declined to 11.4 from the peak of 32.6 in 2006.
- 123jump.com Staff
- 14 Jan, 2009
- New York City
The food company reported 8.3% spurt in sales to $4.01 billion on increased volume, higher price realization and positive product mix. Earnings dropped 3% to $378 million or $1.09 a share due to lower margins and higher expenses.
- 123jump.com Staff
- 14 Jan, 2009
- New York City
The athletic shoe and apparel maker revenues rose 6% to $4.6 billion, compared to $4.3 billion for the same period last year. Net income rose to $391 million or $0.80 a share from $359.4 million or $0.71 a share, a year earlier. The Company reported worldwide future orders rose 6% to $6.7 billion.
- 123jump.com Staff
- 14 Jan, 2009
- New York City
The furniture maker reported second quarter sales declined 5.8% to $477 million and earnings fall of 10.4% to 60 cents per share from prior year period. Consolidated orders for the quarter declined to 26% $426 million compared to $573 million last year, a decrease of 26%.
- 123jump.com Staff
- 14 Jan, 2009
- New York City
The packaged food company reported second quarter net income of $168.1 million or 37 cents per share down from $244.8 million or 50 cents per share from a year ago. The company reaffirmed its 2009 guidance of $1.50 a share from continuing operations.