Nov 21, 2008 11:13 AM ET
The Menís Wearhouse net income for the third quarter dropped to $14.59 million or 28 cents a share down from $37.07 million or 69 cents a share in the year-ago quarter. Sales fell 10% to $459.7 million. The Company expects adjusted full year earnings per share to be in the range of $1.04 to $1.22.
Nov 21, 2008 10:33 AM ET
U.S. stocks rebounded in the early morning after more than 10% in last two days. However, European markets fell with the weaknesses in banks and retail stocks. Asian stocks rose on the hope that the government will support the domestic programs. Citigroup fell another 18%.
Nov 20, 2008 5:42 PM ET
U.S. market indexes dropped more than 5% and lost 10% in the last two days of trading. S&P 500 index declined to nearly a 12-year low and crude oil prices fell to a 3-year low. Thirteen of 30 Dow stocks are trading below 2002 closing prices. European markets decline 4% and Japan plunges 7%.
Nov 20, 2008 12:42 PM ET
Retailers reported declining revenues and earnings. Solar panels and technologies maker report lower than expected earnings. PetSmart rose 13% and Schools Specialty dropped 9%. Prologis plunged 16%. The dental supplies company slid 16%. Lincoln National dropped 18%.
Nov 20, 2008 11:48 AM ET
Dr Pepper Snapple in its first quarter as an independent company reported earnings of $0.41 per share compared to $0.61 per share in prior year period. The company generated $523 million of cash from operations since its separation from Cadbury in May 2008 and has repaid $295 million of its loans.
Nov 20, 2008 11:40 AM ET
Hong Kong stocks fell on the global economic slowdown worries tracking losses in Japan and Australia. Banks, realty and retail stocks declined on the worries that credit crunch is likely to get worse in the short term. China to increase tax rebates on the light industry.
Nov 20, 2008 4:56 PM ET
Stocks in Japan plunged 7% to below key 8,000 mark as investors increasingly worry about the depth of the U.S. economic recession. US lawmakers appear to be still lacking the grasp of the current economic crisis and Secretary Treasury appears to lack direction or a plan.
Nov 19, 2008 10:59 AM ET
J. C. Penney, the department store chain reported sales declined 8.7% to $4.3 billion and net income plunged to $124 million or $0.56 per diluted share compared with $261 million and $1.17 for the prior year. The company guided earnings for the fourth quarter to be between $0.90 and $1.05 a share.
Nov 19, 2008 10:23 AM ET
Toyota will halt production during holiday period in the U.S. and slow production at several plants in North America. Toyota also said it will miss sales target in China. Nissan predicted U.S. auto sales to plunge to 11 million in 2009. Sumitomo Mitsui to raise $4 billion.
Nov 19, 2008 10:04 AM ET
U.S. home starts, completions and permits in October fell as tight credit and weak demand kept buyers away. Building permits dropped 40%, home starts plunged 38% and completions dropped 26% from a year ago. Single family homes starts declined 3.3% from September to 531,000 annual rate.