- 123jump.com Staff
- 17 Dec, 2008
- New York City
Hong Kong Monetary Authority lowered its key lending rate to 0.5% following the rate cut in the U.S. Stocks rose after a rally in banks and realty sectors. State owned companies in China reported revenue rise of 20% in the first eleven months but profits declined 26% on weak energy sector.
- 123jump.com Staff
- 17 Dec, 2008
- New York City
Stocks in Mumbai fell after Satyam Computer suggested a plan to acquire a company controlled by its chairman. The company was forced to cancel the plan after the stock plunged more than 35%. Reserve Bank of India in its annual report suggested that economic growth may slow on global worries.
- 123jump.com Staff
- 17 Dec, 2008
- New York City
Hewlett-Packard fourth quarter revenue rose 19% to $33.6 billion, up 19% but net income declined 2% at $2.11 billion. Revenues in first quarter 2009 are expected between $32 billion and $32.5 billion and earnings per share between 93 cents to 95 cents in the first quarter and for the full year between $3.88 and $4.03.
- Mayank Mehta
- 16 Dec, 2008
- New York City
Stocks surged in a broad rally after the Fed cut rates to record low. The sharper than expected rate cut lifted financials and retailers. Of the S&P 500 index stocks, 2 fell more than 3%, 413 closed above 3% and 77 rose more than 10%. Baidu surged on comments from Goldman Sachs. Best Buy gained.
- 123jump.com Staff
- 16 Dec, 2008
- New York City
U.S. stocks rallied on the hopes that lower record rates will spur economic activities. The Fed has expanded its balance sheet by 200% in the last eighteen months and promised more lending by printing money. The tentacles of Fed have spread in many sectors of the U.S. economy.
- 123jump.com Staff
- 16 Dec, 2008
- New York City
The Fed cut rates to the lowest level possible and raised prospect of lower prices and providing more liquidity by printing money. The Fed lowered the key lending rate from 1% to a range between zero and 0.25%. Financials and insurance companies rallied as stock indexes jumped more than 3%.
- 123jump.com Staff
- 16 Dec, 2008
- New York City
UK inflation drops to 4.1% in November on a decline in energy prices. But, volatile food and produce prices jumped. Energy stocks rose after Iran and Venezuela favored production cut to support oil prices. Mining companies declined after Xstrata suspended production at a mine in Australia.
- 123jump.com Staff
- 16 Dec, 2008
- New York City
Mumbai trading sentiment was lifted on a rise in foreign investment in financial markets. December month investment rose to 2,181 crore rupees. Foreign direct investment in October dropped 26% but is still expected to reach $35 billion according to the commerce minister Nath.
- 123jump.com Staff
- 16 Dec, 2008
- New York City
Australian market averages plummeted led by Macarthur Coal after the company lowered its first half profit forecast. Macarthur Coal dropped 22% on the new estimate and lowered estimate. Stock market index dropped 1% on the weakness in mining sector.
- 123jump.com Staff
- 16 Dec, 2008
- New York City
In Tokyo stock indexes fell 1.1% ahead of the rate decision in the U.S. Market also awaited for clues from earnings of Goldman Sachs. Toyota Motors is expected to seek price reduction from steelmakers as early as January. Mitsubishi Corp acquired 4.6% stake in AEON and develop business in Japan.
- 123jump.com Staff
- 16 Dec, 2008
- New York City
Hong Kong stocks edged up on the hopes that China will provide more incentives for insurance sectors and lower taxes for vehicle purchase. China Cosco, ocean freight company reported hedging loss of Rmb4 billion. Automakers and insurance companies led the gainers in trading.
- 123jump.com Staff
- 15 Dec, 2008
- New York City
U.S. stocks fell after weak industrial production data in November. Home buidlers dropped sharply after a rating agency lowered debt ratings of nine companies. Business conditions in Japan decline the most in 34 years. Chinese industrial production rises at the slowest pace in seven years.
- 123jump.com Staff
- 15 Dec, 2008
- New York City
United Natural reported quarterly net sales increased 17.4% to $864.2 million. Income declined to $13.25 million or $0.31 per share, compared to $13.56 million or $0.32 a share year ago. United expects fiscal earnings per share between $1.30 and $1.38.
- 123jump.com Staff
- 15 Dec, 2008
- New York City
The apparel retailer, Gap Inc reported net earnings of $246 million in the quarter or $0.35 per share compared to $0.30 last year. Third quarter net sales declined 8% to $3.56 billion and comp store sales dropped 12% in the quarter compared to a decline of 5% in the quarter year ago.
- 123jump.com Staff
- 15 Dec, 2008
- New York City
Stocks in Sydney rose on the expectations that U.S. auto industry bailout will spur exports of raw materials. However, Australian government agency cut its forecast of commodities exports forecast by 10% to A$192 billion. One Australian dollar fetched 66.48 U.S. cents.