- 123jump.com Staff
- 01 Dec, 2008
- New York City
AutoNation, the largest auto retailer reported third quarter revenues declined 22% to $3.5 billion and net loss from continuing operations of $1.4 billion or $7.95 per share. In the quarter the company recorded noncash charges for goodwill and franchise impairment of $1.46 billion after tax.
- 123jump.com Staff
- 01 Dec, 2008
- New York City
U.S. stocks fell as much as 4% in the morning trading. Holiday sales kicked off strong but after heavy merchandising discount by retailers. Most retailers are likely to face a sharp decline in earnings. Asian markets closed lower and European markets declined. Crude oil fell 5%.
- 123jump.com Staff
- 27 Nov, 2008
- New York City
UK stocks closed higher on a rise in commoditites stocks after BHP Billiton aborted its hostile offer for Rio Tinto. A surprise rate in cut in China also lifted sentiment in the commodities markets. UK home prices fell 14% from a year ago in November.
- Darlington Musarurwa
- 27 Nov, 2008
- New York City
After a surprise rate cut in China stocks gained in Shanghai and in Hong Kong. Social investment in China is likely to increase to Rmb18 trillion in 2009. Airlines in China gained on the financial suppor from the government. Chinese steelmakers gained after BHP Billiton withdrew its offer for Rio.
- 123jump.com Staff
- 27 Nov, 2008
- New York City
Stocks in Australia gained on speculation that latest China rate cut will sustain exports of commodities. New homes sales soar 6.7% in october on lower mortgage rates and increase in tax incentives for the first time home buyers. BHP Billiton will let its filing deadline lapse with the EU and UK.
- Darlington Musarurwa
- 27 Nov, 2008
- New York City
Stocks in Tokyo rose 2% on the hopes that the latest rate in cut in China will help exports from Japan. Toix Index gained 1.5%. Inpex soared 10% after crude oil prices increased 7%. Meidensha Corp led the gainers in Nikkei with a rise of 10.1%. Panasonic Corp lowered its full year earnings.
- 123jump.com Staff
- 26 Nov, 2008
- New York City
U.S. stocks rallied in the afternoon on a strenght in tech stocks, 7% rise in crude oil prices and hopes that new economic team will focus on economic growth. Stocks in energy, technology and retail sectors closed higher. The largest Canadian telecom operator BCE leveraged buyout may unravel.
- 123jump.com Staff
- 26 Nov, 2008
- New York City
GDP in the third quarter in UK shrank 0.5% on falling consumer spending and tight credit environment. The British pound fell immediately against dollar and euro. The UK government has lowered taxes and the BoE has lowered interest rate but nearly 1 million people are claiming jobless benefits.
- 123jump.com Staff
- 26 Nov, 2008
- New York City
Stocks in India closed above 9,000 after foreign direct investment in the first six months of the fiscal year surged to $17 billion. The surprise rate cut in China also lifted stocks in the Asian markets. Rupee edged higher and software services export stocks followed. Reliance Industries gained 6%.
- 123jump.com Staff
- 26 Nov, 2008
- New York City
China cut its key lending and deposit rate to stimulate economic activities. Exports from China are expected to decline faster than previously estimated and real estate prices in mainland have plunged more than 25%. China cuts its key lending rate to 5.58%. Chinalco raised its stake in Rio Tinto.
- 123jump.com Staff
- 26 Nov, 2008
- New York City
Australian stocks fell on the rising worries that government budget may slip in negative for the first time in seven years. Separately, OECD lowered its growth estimate for the country to 1.7% in 2009 and revised higher the unemployment projections. Rio Tinto plunged 37%.
- Darlington Musarurwa
- 26 Nov, 2008
- New York City
Stocks in Japan closed lower on falling domestic electronics sales and a sharp decline in U.S. home prices. Investors in Japan are looking for clues for the depth and length of the U.S. recession and its impact on the exports from Japan. Toyota debt rating was lowered to AA from AAA.
- Mayank Mehta
- 26 Nov, 2008
- New York City
Borders Group dropped 52% after the third quarter net loss widened to $175.4 million. BCE Inc, the largest Canadian telecom operator may not be able to complete its privatization plan. Deere & Company dropped 12% on a drop in fourth quarter earnings. Genworth continues its slide.
- 123jump.com Staff
- 26 Nov, 2008
- New York City
The bulk cargo ocean carrier in a preliminary restatement of statements revised accounting of derivatives, hedging of currencies and interest rate risks. The company is currently reviewing its long term incentives for management. The company will book higher liabilities related to joint ventures.
- 123jump.com Staff
- 26 Nov, 2008
- New York City
U.S. stocks edged lower after the new home sales plunged 40% from a year ago in October. The new orders for durable goods orders declined 6.2% in October and orders excluding volatile transportation dropped 4.4%. Stocks in the early hours traded sideways.