Nov 12, 2008 8:42 PM ET
Satyam, the fourth largest software service exporter from India reported second quarter net revenues gain of 29% to $652 million from a year ago and earnings per ADS of 39 cents. The company guided earnings growth in the third quarter to rise between 17.6% and 20%.
Nov 12, 2008 8:05 PM ET
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%.
Nov 12, 2008 3:26 PM ET
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.
Nov 12, 2008 3:14 PM ET
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.
Nov 12, 2008 3:06 PM ET
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.
Nov 12, 2008 3:49 PM ET
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.
Nov 12, 2008 2:29 PM ET
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.
Nov 12, 2008 3:47 PM ET
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.
Nov 12, 2008 1:06 PM ET
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.
Nov 12, 2008 12:37 PM ET
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.