- 123jump.com Staff
- 16 Oct, 2008
- New York City
U.S. stock indexes rebounded more than 4% after crude oil fell to as low as $70 a barrel and metal and agriculture commodities prices fell. Bond insurers are preparing plans to participate in the U.S. bailout plan. Ambac and MBIA surge.Google third quarter net rises 26%.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
Australian stocks plunged 6.6% after the weak U.S. retail sales dragged markets in China and Japan. Global market worries dragged the indexes sharply lower in Asia. National Australia Bank reported full-year profit to September will fall 11% to A$3.9 billion from A$4.4 billion a year ago.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
The Bank of England offered liquidity of $254 billion to money markets in UK to restore interbank lending and lower overnight rates. The move only adds to the total government and the BoE intervention of $3 trillion. However, the interbank lending rates are falling but only gradually.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
Stocks in Mumbai fell on the weakness in global markets. Mutual funds in India suffered 77 billion rupees withdrawals in the month. The sharp decline in Sensex and weakness in global markets also forced companies to tap 300 billion rupees. Foreign investor outflow stands at $11 billion in the year.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
CSX, the railroad company reported third quarter revenue increased 18% to $3 billion, record quarterly revenue. The company continues to pass on higher fuel costs to customers and raise prices. Earnings per share from continuing operations increase 40% to 94 cents. Operating ratio rose to 75%.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
AMB fell 10% after third quarter revenues fell 2% and net income fell 61%. eBay dropped 9% after it offered weak revenue guidance. Credit Suisse rose 6% after it announced a plan to raise $10 billion, UBS gained on Swiss government offering $60 billion bailout. Citigroup net loss rises.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
The Swiss government offered a bailout package to UBS after it failed to raise capital from private investors. Credit Suisse plans to raise nearly $10 billion from Qatar and other investors. UBS will transfer up to $49 billion of risky loans including $31 billion loans linked to U.S. mortgages.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
U.S. stocks edge lower. Merrill Lynch reported its fifth quarterly loss. Peabody surged on earnings and eBay estimated lower fourth quarter revenue. Switzerland offered $60 billion bailout package to UBS to bolster its balance sheet. Credit Suisse plans to raise $10 billion.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Reserve Bank of India lowered the bank cash reserve requirements for the second time in less than a week to keep confidence in credit markets. The move may be inflationary, but will lower the overnight interbank lending rate below 10%. Sensex index plunged 6%.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
China foreign exchage reserves rose to $1.9 trillion, the largest of any nation. Trade surplus contributes $27 billion a month and depositors looking for stable currency convert foreign currency into yuan denominated deposits. Benchmark index in Shanghai dropped 4% and in Hong Kong fell 5%.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Stocks in Japan rose after South Korean steel maker Posco offered weak outlook for the current quarter. Weakness in the ocean freight index also dragged shipping lines lower. Financials and realty stocks fell on the worries that the U.S. recession will be longer and deeper than anticipated.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Stocks in Australia fell after South Korean steel giant Posco offered cautious outlook for the current quarter. Rio Tinto, the mining company also hinted weaker deamnd from China and Europe. Australia considers additional economic stimulus of A$10.4 billion.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Investors are increasingly betting that Secretary Paulson led bailout plan is not going to prevent the U.S. from slipping into a recession. September retail sales decline drove market averages to plunge more than 8%. Of the S&P 500 index, 9 dived more than 20%, 224 declined 10% or more and 495 fell.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
CSX Corp third quarter revenues rose 18% to $2.96 billion and net income fell 6% to $382 million or 94 cents a share. Dominos Pizza Inc third quarter revenue fell 4% to $323.6 million and net income dropped 8% to $10 million or 17 cents a share. Intel net income rose 11%.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
UK stocks plunged after the markets in Europe fell more than 5%. Weak metals and commodities prices, a decline of 5% in crude oil futures and a rise in unemployment dragged the benchmark index down 7.2%. The copper miner, Antofagasta and BHP Billiton plunged 15%.