- 123jump.com Staff
- 30 Oct, 2008
- New York City
Stocks in Hong Kong soared after the HKMA lowered rates by 0.5% following the U.S. rate cut. The benchmark index Hang Seng surged 13%. Stocks in Shanghai increased 2.4%. PetroChina third quarter earnings rose 30%, however Sinopec earnings fell 39%. China Cosco surged 41% on 19% rise in earnings.
- 123jump.com Staff
- 30 Oct, 2008
- New York City
Stocks in Japan soared 10% after the U.S. Fed lowered interest rate by 0.5% to 1%. Nikkei 225 surge capped a three-day rally of 26%, the largest gain thirty five years. Prime minister is expected to unveil a 5 trillion yen stimulus package to stimulate consumer spending.
- 123jump.com Staff
- 30 Oct, 2008
- New York City
Colgate Palmolive surged 8% after third quarter revenue rose 13%. CVS Caremark Corp gained 8% after third quarter net income surged 7%. Deutsche Bank surged 21% on quarterly revenue fell 14% and net income dropped 74%. First Solar surged 19% after third quarter net income increased 40%.
- 123jump.com Staff
- 30 Oct, 2008
- New York City
Third quarter GDP adjusted for seasonality fell at annual rate of 0.3% from the second quarter after rising at a rate of 2.8% in the second quarter and 0.9% in the first quarter. The sharpest pull back in consumer spending in the last three decades of 3.1% contributed to the weakness the GDP data.
- 123jump.com Staff
- 29 Oct, 2008
- New York City
The Fed lowered the rate by 0.5% to 1% and indicated that inflation will moderate as commodities and energy prices have declined. The rate cut expectations lifted markets in Asia and in Europe. However, after the cut U.S. stocks surged 3% but closed 1% lower. Oil surged $5 a barrel.
- 123jump.com Staff
- 29 Oct, 2008
- New York City
The Western Union, a financial services and communications company reported that revenue for the third quarter grew 10% to $1.38 billion. Earnings per share increased 18% to 33 cents. The Company generated $925 million of cash flow from operations and expects to generate $1.2 billion for the year.
- 123jump.com Staff
- 29 Oct, 2008
- New York City
The Fed lowered the Fed funds rate by 50 basis points to 1% in unanimous decision. The Fed is likely to lower rated further if economic activities remain weak. Investors hoping for a cut larger than 50 basis points were disappointed. Nasdaq surged 3% after the rate cut but closed lower.
- 123jump.com Staff
- 29 Oct, 2008
- New York City
In Mumbai stocks closed higher in a volatile trading on a decline in trading volume. Reliance Communications dropped 10% ahead of the earnings results. Mahindra & Mahindra gained 8.3% after the company said that product demand is strong.
- 123jump.com Staff
- 29 Oct, 2008
- New York City
Nikkei 225 index surged 7.7% following a rise of 10% in New York. Japan industrial production fell 1.2% in September. Sony second quarter net income dropped 72% and the company left its full year profit unchanged. Sumitomo Mitsui first half profit fell 50% on bad loans of 220 billion yen.
- 123jump.com Staff
- 29 Oct, 2008
- New York City
Stocks in Hong Kong and Shanghai edged higher ahead of rate cut expectations. China lowered its rate by 27 basis points for deposits and lending. The third rate cut since Sept 15 by China is expected to stabilize the financial markets and stem the decline economic growth rate.
- 123jump.com Staff
- 29 Oct, 2008
- New York City
Australian stocks rose 1.3% on the hopes that the U.S. will lower rates today. JP Morgan Chase estimated fourth quarter economic growth to fall 3% and decline 4% in the first quarter of 2009. Australia is expected to invest $1 billion in mortgage securities.
- 123jump.com Staff
- 29 Oct, 2008
- New York City
Global stocks advanced on the back of a rally in the U.S. trading. Asian markets surged and European markets traded higher. This morning, stocks in New York edged lower ahead of the Fed decision to lower rates. The speculation is mounting that the Fed may lower rate by as much as 1%.
- 123jump.com Staff
- 28 Oct, 2008
- New York City
U.S. stocks surged on the hopes that the Fed will lower rates tomorrow. The Fed lent money directly to corporations for the first time in commercial paper market. The Fed participation lifted the debt amount to $67 billion, a ten-fold rise from a week ago. Brazil, Germany Mexico surged above 10%.
- 123jump.com Staff
- 28 Oct, 2008
- New York City
Schlumberger third quarter income from continuing operations, was $1.25 per share, up $0.09 sequentially and $0.16 above the same quarter last year. During the quarter the company bought back 5.96 million shares for $545 million at an average price of $91.45 per share.
- 123jump.com Staff
- 28 Oct, 2008
- New York City
UK stocks closed 1.8% higher on strong earnings from BP Plc and positive outlook from Standard Chartered. The market gains were trimmed after a record drop in consumer confidence in the U.S. UK home repossessions rose 71% in the second quarter. Schroders Plc net dropped 20% in the third quarter.