Jan 27, 2009 3:08 PM ET
The fiscal deficit in India at the end of the current year is expected to rise to 5.9% of the GDP. The RBI holds rates and reserve ratios for banks and lowers the estimate of the economic growth rate to 7%. Stocks surged on the global mega mergers in pharmaceutical industries.
Jan 27, 2009 10:45 AM ET
Stocks in Australia rebounded sharply on the rise in business confidence. Producer price index rose 1.3% in December from November and 6.5% from a year ago. A rise in commodities and crude oil prices lifted trading sentiment. Macquarie Countrywide led gainers in the ASX 200 index shares.
Jan 27, 2009 3:40 AM ET
The semiconductor chipmaker reported first quarter net loss of $706 million or $0.91 per share versus a net loss of $262 million or $0.34 per share a year ago, including a $369 million non-cash write-down of memory inventories. Net sales in the quarter fell 9% to $1.40 billion.
Jan 26, 2009 3:35 AM ET
Barclays in a letter to investors stressed that the company has £36 billion of committed equity and reserves and its net profit in 2008 is at a record level. The strong letter resonated with investors and the stock surged more than 70% in London trading. UK home prices declined 9.4% in January.
Jan 26, 2009 6:38 PM ET
U.S. stocks edged higher after a mega merger between Pfizer and Wyeth. The existing home sales rose unexpectedly 6.5% in December. Earnings dominated trading sentiment. Caterpillar and Deere & Company fell on weaker than expected outlook. Gold rose above $900 per ounce.
Jan 26, 2009 3:59 PM ET
Earnings and merger news dominated movers in trading. Caterpillar and Deere & Company dropped on earnings outlook. Morgan Stanley and Bank of America rose after earnings fees for arranging a merger between Pfizer and Wyeth. Lennar surged after an analyst upgraded the stock.
Jan 26, 2009 11:31 AM ET
Pfizer offers $68 billion for Wyeth. The largest deal between two pharmaceutical companies in a decade will create one of the largest and diversified drug companies in the world.
Jan 26, 2009 10:01 AM ET
Stocks in Japan fell on the worries that auto exports and domestic sales will fall. Media reports also suggested that Nomura may suffer a loss of as much as 300 billlion in the latest quarter largely on Madoff scandal in the U.S. Nissan predicts a sharp fall in global vehicle sales.
Jan 25, 2009 6:59 PM ET
The transaction processor reported revenues rose 30% to $401.1 million despite the unfavorable impact of foreign currency exchange rates. Earnings increased 26% from a year ago to $48.91 million. Earnings per share grew to $0.60 compared to $0.48 in the prior-year quarter.
Jan 25, 2009 6:17 PM ET
Ruby Tuesday second quarter net loss was $37.42 million or $0.73 per share much wider than a net loss of $10.35 million or $0.20 per share last year. Total revenue decreased 9.7% during the quarter fueled by a 10.8% decline in same restaurant sales.