Oct 20, 2008 6:10 PM ET
U.S. stocks surged nearly 5% after the talks of second stimulus package was endorsed by the Fed chairman. Crude oil rebounded ahead of Opec meeting. Brazil surged 8% and Canada soared 7%. In Europe, UK surged 5% on a rise in commmodities and energy prices. ING Group rebounded 20%.
Oct 20, 2008 5:59 PM ET
The UK first half budget deficit rises to £37.6 billion and exceeded the annual deficit of last year. Home prices drop 4.6% in October. Libor rate for dollar deposit declined but stayed above 4%. Royal Bank of Scotland surged on the talks of stake sale of 20%.
Oct 20, 2008 5:58 PM ET
Stocks in Japan rose on the hopes that the earnings for the latest quarter will be better than expected. Panasonic operating profit is likely to be higher than expected and steel makers are expected to revise earnings higher for the year. Exporters may benefit from weaker yen.
Oct 20, 2008 1:50 PM ET
Rupee dropped to 49 to a dollar, record in the last eight years. In addition, the RBI lowered the rate full percentage point to 8% to improve liquidity in the short term lending market. Software exporters gained on a fall in rupee and realty stocks rose on a decline in interest rates.
Oct 20, 2008 1:19 PM ET
Intel third quarter revenue rose 8% from the previous quarter to $10.2 billion. Nearly 45% of total revenue was related to notebooks and other mobile devices. Gross margin in the quarter rose 58.9%, higher than a year ago and in the second quarter. Cash flow from operations was $3 billion.
Oct 20, 2008 10:20 AM ET
The financial services company reported third quarter revenue decline of 28% from a year ago and 8% fall from the second quarter. The company lost $2.8 billion or 60 cents per share in the quarter. Citi recorded nearly $10 billion in charges related to consumer lending and mortgage securities.
Oct 20, 2008 12:45 PM ET
Eaton and Halliburton rose after reporting better than expected earnings. Hasbro dropped 4% after net income in the quarter dropped 14% from a year ago. Landrys surged 29% after the company agreed to an amended offer to sell to its chief executive. Mattel net income in the quarter was flat.
Oct 20, 2008 7:08 PM ET
U.S. stocks rose after interbank lending rates dropped. Quarterly earnings from Halliburton and Eaton rose. Crude oil edged above $74 a barrel. Financial stocks rose after Fed chairman Bernanke endorsed a second stimulus package. NRG surged after Exelon offered 37% premium.
Oct 20, 2008 1:16 AM ET
ING Group, the Dutch insurance giant is forced to accept €10 billion capital injection from the government. The stock has lost more than 60% its value in the last three months as investors worried that it may lack adequate capital to face the current financial markets crisis.
Oct 19, 2008 12:41 PM ET
JPMorgan Chase anticipated fourth quarter earnings benefit of between 10 and 12 cents from WaMu purchase and 50 cents additional earnings for 2009. The company increased loan loss reserves in the quarter by $1.3 billion to a total of $15.3 billion. Home equity originations are down 77%.