- 123jump.com Staff
- 07 Nov, 2008
- New York City
U.S. unemployment rose in October and an index of pending home sales declined. Crude oil hovered near $60 a barrel. IMF lowered outlook for global economy. General Motors and Ford seek federal assistance but fail to trim labor costs and executive compensation. British Airways lifted revenue outlook.
- Mayank Mehta
- 07 Nov, 2008
- New York City
General Motors and Ford reported weaker than expected results and cried out for federal help but fail to trim executive compensation and labor costs. GM dropped 10% and Ford declined below $2. Dolby Laboratories dropped 4% after third quarter net rose 10%. CB Richard Ellis surges 16%.
- 123jump.com Staff
- 07 Nov, 2008
- New York City
British Airways lifted its revenue guidance to 4% from earlier projection of 3% increase. However, the six-month net dropped 75%. Commodities and energy stocks rallied on an increase in crude oil and metal prices. Stocks in London trading rose 1.8%.
- 123jump.com Staff
- 07 Nov, 2008
- New York City
Stocks in Mumbai rose after a week of volatile trading. The IMF lowered growth projections for India, Europe, Australia and the U.S. and said that emerging markets will still lead the world economic growth but at a slower pace. Local banks lowered interest rates on loans. Rupee gains 4% in the week.
- 123jump.com Staff
- 07 Nov, 2008
- New York City
Stocks in Hong Kong rose 3.3% and in Shanghai gained 1.7% on higher trading volume. The HKMA reported that foreign exchange reserve declined in October to $155 billion from $160 billion. Banks and real estate companies increased. Hong Kong Exchange dropped on broker comments.
- 123jump.com Staff
- 07 Nov, 2008
- New York City
Global economic worries and lowered IMF estimates of global growth played into early sell-off of 7% in Tokyo trading. Stocks recovered to close down 3.6% for the day and 0.1% for the week. Japan Airlines second quarter operating profit fell to 26.3 billion yen from 65 billion yen a year ago.
- 123jump.com Staff
- 07 Nov, 2008
- New York City
Australian stocks fell 2.3% after the IMF lowered the growth estimate for the country to 1.8%. Australia offered emergency funding of A$22 million to ABC Learning Centers, the child care company in voluntary administration.
- 123jump.com Staff
- 07 Nov, 2008
- New York City
Revenues net of interest expense rose 3% to $7.2 billion from $7.0 billion a year ago. Income from continuing operations declined 23% to $861 million from $1.1 billion a year ago. Diluted earnings per share from continuing operations declined 21% to $0.74 from $0.94 a year ago.
- 123jump.com Staff
- 07 Nov, 2008
- New York City
October unemployment rate rose to 6.5% from 6.1% in September. The U.S. economy has lost 1.2 million jobs in the first ten months in the year. Total number unemployed stand at 10.1 million. Ford Motor reported a fall in revenue and a higher quarterly loss. Disney net in the quarter dropped.
- 123jump.com Staff
- 06 Nov, 2008
- New York City
U.S. stocks plunged nearly 5% on the second day in a row after Cisco lowered its sales outlook, initial claims of unemployment were at elevated levels and same store sales at retailers fell. The ECB, Bank of England and Swiss National Bank lowered key lending rates. Toyota plunged on earnings.
- 123jump.com Staff
- 06 Nov, 2008
- New York City
The Bank of England sharply lowered its key lending rate by 1.5% to 3%. The larger than anticipated rate cut was overshadowed by fall in metals and energy prices. The negative sentiment dragged stocks in UK lower by 6% and in Europe more than 5%.
- 123jump.com Staff
- 06 Nov, 2008
- New York City
Visa Inc., the largest retail electronic payments network posted strong fiscal fourth quarter results on higher global volumes and strength of U.S. charges. The adjusted diluted earnings in the fourth quarter was $448 million or 58 cents a share and for the year was $1.7 billion or $2.25 a share.
- 123jump.com Staff
- 06 Nov, 2008
- New York City
Las Vegas Sands plunged on loan default and bankruptcy filing possibilities. Whole Foods rose after earnings and capital injection from a private equity fund. Toyota Motor dropped after it lowered earnings outlook. Cisco offered weak sales outlook. Cott Corp dropped 17% on a net loss.
- 123jump.com Staff
- 06 Nov, 2008
- New York City
Stocks in Mumbai fell after the annual wholesale inflation at the end of third week in October rose to 10.7%. The increase in inflation is likely to limit future rate cuts from the Reserve Bank of India. Foreign investors continue to sell stocks in India. Oil meal exports from India dropped 40%.
- 123jump.com Staff
- 06 Nov, 2008
- New York City
Australian stocks plunged 4% after the U.S. private sector employment report. Commodities and energy prices dropped as well. Australia employment adjusted for seasonal factors rose in October, unexpectedly. Media conglomerate News Corp first quarter net dropped to $515 million from $732 million.