- 123jump.com Staff
- 12 Nov, 2008
- New York City
U.S. stocks dropped more than 5% after the U.S. Treasury Secretary switched his bailout plan focus one more time. The frequent changes in emphasis left the market confused and raises doubts that the Bush administration is out of touch. Of the S&P 500 index stocks, 71 fell more than 10%.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
The Amazon.com third quarter sales gained 31% to $4.26 billion and net income surged to $118 million on revenue. The company lowered the revenue guidance to $19.46 billion from the previous estimate of $20.10 billion. Worldwide revenue declined 28% when currency gains of $80 million were excluded.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
Netflix in the third quarter added 261,000 net new subscribers, a fall of 9% from a year ago but total subscriber base rose 23% to 8.7 million. Earnings per share increased 43% to 33 cents a share from 23 cents a year ago. Net income increased 30% to $20.4 million.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
Stocks in Australia dropped despite a rise in consumer sentiment. UBS lowered net income estimate by 9% for Rio Tinto after the mining giant lowered production target by 10%. Fortescue Metals lowered iron ore shipment estimate on a fall in demand plant shut downs.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
Nikkei 225 index in Japan dropped below its underlying book value as domestic investors sell stocks. Consumer confidence in Japan dropped to the lowest level since 1982 in October. Inpex lowered its revenue and earnings outlook for the year. Softbank led the gainers after Alibaba.com earnings rise.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
The Producers Price Index in China rises to 6.6% in October and CPI increased to 4%. Alibaba.com reported higher than expected earnings lifting the stocks 10%. Third quarter net rose 49%. Stocks in Hong Kong fell 0.7% and in Shanghai declined 1.2%. Li & Fung surges 11% on an outsourcing order.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
Industrial production in India rises 4.8% in September. Stocks fall on political uncertainty as state wide polls draw near. Tata Teleservices sell 26% stake for $2.7 billion to NTT DoCoMo of Japan. Software exporters rose after the rupee declined to 48.84 to a dollar.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
The unemployment rate in the UK jumped to 5.8% in the third quarter to September. The BoE lowered its inflation forecast for the second half. Sainsbury lifted its dividend on higher quarterly profit. Thomson Reuters revenue rose but net fell.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
The largest insurance company reported third quarter net loss of $24.47 billion or $9.05 per share as compared to net income of $3.09 billion or $1.19 per share. The US Treasury announced that it will purchase $40 billion of AIG preferred shares and relax the terms of the original loan.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
Steelmakers fell as global economic slowdown forces companies to cut production. ArcelorMittal dropped 10% and AK Steel declined 12%. Best Buy offered weak outlook for the holiday season. CB Richard Ellis dropped 14% on the worries that public offering will dilute shareholders.
- 123jump.com Staff
- 12 Nov, 2008
- New York City
Global markets struggle to find footing as politicians around the world struggle to save financial systems and devise plans to support sagging economic growths. NTT DoCoMo agrees to pay $2.7 billion for 27% stake in Tata Teleservices. ING reports its first quarterly loss ever.
- 123jump.com Staff
- 11 Nov, 2008
- New York City
Global stocks declined on the worries that recession in the U.S. may be deeper and longer than previously anticipated. Market indexes in the U.S. dropped more than 2% and in Europe fell between 4% and 6%. Russia plunged 10%. Copper declined 5% and crude oil fell 4%.
- 123jump.com Staff
- 11 Nov, 2008
- New York City
Starbucks Corp fourth quarter revenue rose 3% to $2.5 billion and net income fell 97% to $5.4 million. Comparable domestic location sales fell 5% and across the system fell 3%. The company guided 2% decline in same stores sales in fiscal 2009.
- 123jump.com Staff
- 11 Nov, 2008
- New York City
European markets fell more than 4% on the weak profit outlook. Mining and metals companies declined after crude oil and metals prices fell. Banks and insurance companies fell after weak earnings from Intesa Saopaolo SpA. Vodafone Group rose on 17% rise in sales. Russia plunged 11%.
- 123jump.com Staff
- 11 Nov, 2008
- New York City
U.S. market indexes faltered after a decline in home builders, insurers, retailers and real estate investment trusts. Starbucks reported a sharp decline in earnings, Tyco issued a cautious outlook. Insurance companies fell on the need for more capital.