- 123jump.com Staff
- 03 Dec, 2008
- New York City
Australian third quarter GDP growth fell to 0.1% and non-farm sector growth declined 0.3%. Weak exports and falling domestic demand weakened the service and construction sector. Babcock & Brown received A$150 million in emergency funding from a syndicate of banks.
- 123jump.com Staff
- 03 Dec, 2008
- New York City
China stock indexes gained on a rise in telecom and financial stocks. Telecoms advanced on the hopes that 3G licenses will be allocated before the end of the year. Bank of America increased its stake in China Construction Bank. Property stocks declined on a rise in mortgage rates.
- Darlington Musarurwa
- 03 Dec, 2008
- New York City
Japan government is likely to provide additional 100 trillion yen economic stimulus package. The falling exports and weak domestic economy has dragged economy in Japan to recessionary conditions. Toyota will cut bonuses for senior staff but not for top executives.
- 123jump.com Staff
- 03 Dec, 2008
- New York City
U.S. stocks came under pressure after service index in November declined to 11-year low. The service industry is shrinking as consumers curtail spending, businesses lay off people and banks tighten lending. Separately private survey tracking jobs in private sector showed job loss of 250,000.
- 123jump.com Staff
- 02 Dec, 2008
- New York City
Allianz Group net revenue decrease 3.8% to 21.1 billion euros. Dresdner bank was treated as discontinued business. The insurer took impairment charges of $370 million in its fixed income portfolio. The insurer lost 2.2 billion euros from continued operations.
- 123jump.com Staff
- 02 Dec, 2008
- New York City
Ford third quarter net loss of $129 million or 6 centa share compared to a loss of $380 million or 19 cents in the prior year on one-time gain of $2.2 billion. Revenue in the quarter fell 22% to $32.2 billion. Ford North America reported a net loss of $2.2 billion, $1.6 billion increase.
- 123jump.com Staff
- 02 Dec, 2008
- New York City
Qualcomm reported net income of $878 million, revenue of $3.33 billion and earnings per share of 52 cents on strong sales of chipsets and patent settlement with Nokia. Fiscal 2008 revenues were $11.1 billion and earnings per share were $1.90.
- 123jump.com Staff
- 02 Dec, 2008
- New York City
The company reported in the fiscal first quarter 1% increase in sales to $163 million versus $161 million and net earnings of $11 million or 12 cents a share compared to $15 million or 16 cents a share. The company lowered the second quarter earnings per share between 9 cents and 13 cents.
- 123jump.com Staff
- 02 Dec, 2008
- New York City
Abercrombie & Fitch net income for the third quarter of $63.9 million or $0.72 a share versus $117.6 million or $1.29 a share last year. Net sales decreased 8% to $896.3 million and comparable store sales decreased 14%. A&F guided earnings per share for Q4 in the range between $1 and $1.05.
- 123jump.com Staff
- 02 Dec, 2008
- New York City
U.S. stocks surged on the belief that the Fed will provide additional liquidity and may lower rates in less than two weeks. November auto sales plunged on tight lending and weak demand. Australia lowered its key rate by 1% and Japan left its rate unchanged. Mumbai stocks decline for the second day.
- Mayank Mehta
- 02 Dec, 2008
- New York City
U.S. stocks gained after banks, financials and realtors led advancers. Optimism about interest rate cuts lifted sentiment in trading. Sears surged on lower than expected loss and Staples gained after the release of earnings. Eastman Chemical plunged on earnings worries.
- Darlington Musarurwa
- 02 Dec, 2008
- New York City
Reserve Bank of Australia lowered its key lending rate by 1% to 4.25%. The large rate cut spread worries among investors that the economy may be softer than estimated. ASX 200 index plunged 4.2%. RBA said that rate cuts are necessary to sustain economic expansion and global demand is likely to drop.
- 123jump.com Staff
- 02 Dec, 2008
- New York City
U.S. stocks rallied on the hopes that the Fed will continue to lower rates after Fed Chairman Bernanke did not rule out zero rate possibilities. The Fed is running out of options and will be forced to look for alternative ways to provide liquidity. Ford is seeking $9 billion from the Congress.
- Mayank Mehta
- 01 Dec, 2008
- New York City
U.S. stocks plunged on the worries that economic recession will be longer and deeper than generally estimated. Energy stocks fell on 10% decline in crude oil prices and retail stocks fell after retailers offered more and larger discount than usual to kick-off holiday sales.
- 123jump.com Staff
- 01 Dec, 2008
- New York City
U.S. stocks plunged 8% after weak manufacturing and construction reports. Of the stocks in S&P 500 index, 498 dropped and 214 plunged more than 10%. A private economic group suggested that the U.S. has been in a recession for a year. Manufacturing indexes in China and UK dropped.