- 123jump.com Staff
- 18 Oct, 2007
- New York City
Sensex in Mumbai,India dropeed 717 or 3.8% lower to close at 17,998.40. CNX Nifty fell 3.6% as well. Jittery investors worried that international fund flows may slow down after the recent regulatory changes in the derivatives trading. More than $75 billion have been linked to the trading vehicle called Participatory Notes. Reliance Industries profit jumped 31% on 9% increase on sales in the first half.
- 123jump.com Staff
- 18 Oct, 2007
- New York City
Stocks in the morning trading in New York fell on weaker than expected earnings from Bank of America and Pfizer. Bank of America earnings fell 32% and earnings at Pfizer plunged 80% on the account of charge related to Exubera. Ebay reported a loss on write-down related to Skype acquisition. Nokia reported a sharp rise in earnings on 26% increase in handset sales. Dollar fell to a record low against euro. Oil, natural gas, and precious metals rose. Corn and Wheat edged higher.
- 123jump.com Staff
- 18 Oct, 2007
- New York City
Bank of America reported third quarter revenue decline of 12% to $16.30 billion, earnings plunged 32% to $3.70 billion, and earnings per share declined 31% to 82 cents. The company reported loan loss reserve of $2.03 billion and trading losses of $1.4 billion hurt the earnings. Bank of America fell 3.5% after the earning report.
- 123jump.com Staff
- 18 Oct, 2007
- New York City
Japanese stocks rebounded as banks and brokerage stocks recovered. Nikkei 225 index added 0.9% to close at 17,106.09. IMF lowered the economic growth rate in Japan for 2007 and 2008. Banks rebounded as investors hoped that their exposure to subprime mortgages in the U.S. is limited. Mitsubishi UFJ, Sumitomo Mitsui Financial, and Credit Saison are liklely to bid for credit card business run by the airline JAL.
- 123jump.com Staff
- 17 Oct, 2007
- New York City
U.S. stocks rallied in the morning on the inflation report and earnings from Intel, IBM, Yahoo, Coca Cola, and J P Morgan. September consumer price index rose 0.3% and housing start in the month fell 10.2%. The sharp fall in the housing market put investors on th edge. Hosuing related stocks declined in the afternoon trading. Home builders fell to five-year low. Lennar, DR Horton, and Beazer fell. New York Times fell to 10-year low after a report that Morgan Stanley sold its stake.
- 123jump.com Staff
- 17 Oct, 2007
- New York City
Sensex index in the morning trading plunged 9%. SEBI, securities regulatory arm of India, proposed a closer monitoring of foreign investments and raised collateral level for leveraged trades. The market interpreted the government move as a way to control international fund flows. After one hour of trading halt, Sensex climbed its way back to close at a loss of 1.8%. Reliance Energy fell 7% after reporting earnigs rise of 34%. Rupee fell to a two-week low.
- 123jump.com Staff
- 17 Oct, 2007
- New York City
U.S. stocks in the morning trading edged higher after a sharp rise in earnings from Intel and Yahoo beat expectations. Altria, IBM, United Technologies, Northern Trust, and Gannett reported better than expected earnings. Oil edged higher, inching to $88 per barrel. Housing starts in September fell 10.2% and CPI in the month increased 0.3%. Core CPI in September rose 0.2%, in line with expecations.
- 123jump.com Staff
- 17 Oct, 2007
- New York City
J P Morgan reported third quarter revenue rise of 4% to $16.11 billion and net income growth of 2% to $3.3 billion. Earnings per share increased 5% to 97 cents. The company set aside $2.4 billion to cover losses, up 67% from a year ago. Provision for losses from home equity loans were increased from $1.4 billion to $2.0 billion. The bank maintained Tier 1 capital ratio at 8.4%.
- 123jump.com Staff
- 17 Oct, 2007
- New York City
Market regulator and Finance Minister in India orchestrated a series of steps to crackdown on anonymous trading. The recent sharp rise in market has attracted a flood of new investments from foreign investors many of them trade through derivative contracts, hiding true identity of the owners. Finance Minster backed a proposal to curb such trading and regulator SEBI proposed a series of steps after the market close.
- 123jump.com Staff
- 17 Oct, 2007
- New York City
Stocks in Japan fell for the second day in a row on the worries that banks may have more losses to report from the ongoing correction in the U.S. housing market. Nikkei fell 1.1% and broader index Topix fell 1.5%. Mitsubishi UFJ, Mizuho, and Nomura fell more than 4%. METI reported that demand for services in August rose 1.3% afte a rise of 0.4% in July.
- 123jump.com Staff
- 16 Oct, 2007
- New York City
Stocks in Mumba trading edged lower after rising to a record level in the last five session. Sensex fell 0.04% or 6.80 to close at 19,051. Of the 30 stocks in the index, 12 ganied and 18 declined. Stead rise of rupee against dollar is likely to hurt exports from smaller companies. CII, industry organization, cautioned that the export target of $160 billion in the current fiscal year may not be achieved. ICICI Bank led the gainers and Infosys led the decliners in the Sensex index.
- 123jump.com Staff
- 16 Oct, 2007
- New York City
IBM, Intel, Yahoo, and CSX were some of the companies releasing earnings after the close of regular trading. IBM reported earnings rise og 6.3% on 7% rise in sales. Intel reported revenue rise of 15% and earnings grwoth of 43%. Yahoo earnings declined on revenue increase of 12%. CSX reported revenue rise of 3% and earnings increase of 24%. Intel, yahoo, and CSX rose in the after hours of trading.
- 123jump.com Staff
- 16 Oct, 2007
- New York City
U.S. stocks fell after comments on housing markets from the Treasury Secretary Paulson put investors in a cautionary mood. Averages fell as Paulson said that the U.S. housing market poses a significant risk to the wider economy. He also admitted that the problems in the housing market are likley to persist longer than anticipated. After the close Intel reported earnings rise of 43% and at IBM rose 6.3%. Yahoo earnings were flat compared to a year ago of 11 cents per share.
- 123jump.com Staff
- 16 Oct, 2007
- New York City
Treasury Secretary Henry Paulson remarks suggested a sharp reversal in the U.S. administration''s approach in tackling the ongoing correction in the housing market. He said that it is the regulated banks that are facing the crisis rather than the hedge funds and the depth of the problem is still undetermined. He expressed real uregency in tackling the housing industry and mortgage related issues. He admitted that the current problems in the housing market are likely to persist beyond 2008.
- 123jump.com Staff
- 16 Oct, 2007
- New York City
U.S. stocks declined after a barrage of earnings warnings sent a mixed signal and oil crossed $87 per barrel. Wells Fargo and Johnson & Johnson reported better than expected earnings. Ericsson fell 24% after reporting a shortfall in the quarterly earnings. D R Horton said that orders declined sharply in the fourth quarter.