Nov 10, 2008 8:19 PM ET
U.S. stocks closed lower on the worries that the economy may be weaker than it appears. Goldman Sachs cuts 10% of payroll. Circuit City bankruptcy filing drags most retailers and real estate trusts lower. China announces $585 billion stimulus plan. Resource stocks and Asian markets rallied.
Nov 10, 2008 8:07 PM ET
Circuit City bankruptcy filing dragged stocks of real estate investment trusts. Goldman dropped after it laid-off 10% of its staff. Google Inc declined on negative views from Barclays. General Motors plunged 30% on bankruptcy worries. China related stocks surged on stimulus package.
Nov 10, 2008 8:06 PM ET
UK stocks edged higher after miners and energy companies rallied. Metals and crude oil prices rose after China announced a $585 economic stimulus plan. Pound gained against dollar to $1.57 and against euro dropped to 82.09 pence. HSBC loan losses rise. Cable & Wireless revenue fell 5%.
Nov 10, 2008 2:29 PM ET
Mumbai stocks surged on the hopes that global economy will stabilize after the G-20 meeting and China economic stimulus plan of $585 billion. Metals, realty and banking sector stocks closed sharply higher. October auto sales declined 6.6% on tighter credit conditions. Rupee gained 0.6% to 47.32.
Nov 10, 2008 12:35 PM ET
Stocks in Shanghai surged 7.4% and in Hong Kong gained 3.5% after China released 4 trillion yuan plan to stimulate the economy. China plan will increase infrastructure spending, remove bank limits for loans and help farmers. Metals and steel makers surged on a rise in base metal prices.
Nov 10, 2008 8:04 PM ET
Japan stocks surged on the speculation that economic stimulus package from China will lift machinery demand. Shipping lines and construction machinery companies rose. Tokyo stocks surged 6%. Japan foreign exchange reserve declines $18 billion to $977 billion at the of October.
Nov 10, 2008 8:03 PM ET
Stocks in Australia gained after China announced a stimulus package of Rmb 4 trillion. Commodities prices and resource sector stocks gained. Financial stocks declined after RBA noted that only half of recent rate cuts have been passed on to customers by banks.
Nov 10, 2008 11:00 AM ET
Northrop Grumman, the defense contractor third quarter 2008 earnings from continuing operations increased to $509 million or $1.50 per diluted share compared with $489 million or $1.41 per diluted share in the third quarter of 2007. Sales increased 6% to $8.4 billion.
Nov 10, 2008 10:34 AM ET
Whole Foods Market, the natural food retailer fourth quarter sales increased 16% to $1.8 billion and comparable store sales grew 0.4%, identical store sales declined 0.5%, and sales at Wild Oats stores were $159.3 million. Net income was $1.5 million and diluted earnings per share 1 cents.
Nov 10, 2008 11:49 AM ET
The Federal Reserve invested $40 billion in preferred stock in AIG and lowered original loan of $85 billion to $60 billion and set up separate facilities to purchase mortgage and other securities. The revised and relaxed plan will increase Fed involvement with AIG to $150 billion and increase risk.