Nov 12, 2008 12:28 PM ET
Steelmakers fell as global economic slowdown forces companies to cut production. ArcelorMittal dropped 10% and AK Steel declined 12%. Best Buy offered weak outlook for the holiday season. CB Richard Ellis dropped 14% on the worries that public offering will dilute shareholders.
Nov 12, 2008 9:46 AM ET
Global markets struggle to find footing as politicians around the world struggle to save financial systems and devise plans to support sagging economic growths. NTT DoCoMo agrees to pay $2.7 billion for 27% stake in Tata Teleservices. ING reports its first quarterly loss ever.
Nov 11, 2008 6:07 PM ET
Global stocks declined on the worries that recession in the U.S. may be deeper and longer than previously anticipated. Market indexes in the U.S. dropped more than 2% and in Europe fell between 4% and 6%. Russia plunged 10%. Copper declined 5% and crude oil fell 4%.
Nov 11, 2008 6:10 PM ET
Starbucks Corp fourth quarter revenue rose 3% to $2.5 billion and net income fell 97% to $5.4 million. Comparable domestic location sales fell 5% and across the system fell 3%. The company guided 2% decline in same stores sales in fiscal 2009.
Nov 11, 2008 5:57 PM ET
European markets fell more than 4% on the weak profit outlook. Mining and metals companies declined after crude oil and metals prices fell. Banks and insurance companies fell after weak earnings from Intesa Saopaolo SpA. Vodafone Group rose on 17% rise in sales. Russia plunged 11%.
Nov 11, 2008 3:44 PM ET
U.S. market indexes faltered after a decline in home builders, insurers, retailers and real estate investment trusts. Starbucks reported a sharp decline in earnings, Tyco issued a cautious outlook. Insurance companies fell on the need for more capital.
Nov 11, 2008 1:52 PM ET
Stocks in Australia fell sharply after the business confidence index dropped to the lowest level in two decades. Mounting recession worries and a drop in metals prices led the resource stocks lower. Banks fell on the worries that transportation company Asciano Group may need more capital.
Nov 11, 2008 5:55 PM ET
Insurance companies fell on the mounting worries that leading companies in the sector will need additional capital to support their ratings. Hartford and Prudential led the decliners. CB Richard Ellis plunged after it announced a plan to raise capital in public offering.
Nov 11, 2008 10:22 AM ET
Cisco, the networking company revenue increased 8% to $10.3 billion, an 8% from a year ago and net income increased 6% to $2.2 billion or $0.37 per share from $0.35 per share. The Company anticipates fiscal second quarter earnings per share between $0.05 and $0.08 per share.
Nov 11, 2008 9:16 AM ET
Stocks in Asia closed lower and European markets declined after profit outlook at companies weakened. In Japan, Citizen Holding and Seiko sharply cut their annual earnings outlook on weak international sales. In Europe insurers, banks fell. Julius Baer, Swiss Life, Aegon, ING, Allianz declined.