Nov 14, 2008 10:12 PM ET
The U.S. retail sales in October declined 2.8% from September and dropped 4.1% from a year ago. Motor vehicles and parts sales fell 23.4% and furniture sales declined 13.5%. The European Union economy shrank in the third quarter declined 0.2% matching the second quarter rate.
Nov 13, 2008 4:46 PM ET
U.S. stocks staged a sharp reversal after dropping nearly 2.5% in the morning trading and surged to close up 7%. The near 10% reversal in the market indexes occurred after crude oil prices rose and energy related stocks led the gainers. Asian markets closed down 5%. European markets edged up.
Nov 13, 2008 3:59 PM ET
Industrial production in China rose at a slower pace of 8.2% in October and retail sales surged 22% in the month. Electricity output fell 4% and passenger cars production declined 6.2% in the month. Hong Kong Exchange quarterly net declined 43%.
Nov 13, 2008 2:53 PM ET
Australian stocks plummeted 5.9% as commodity stocks retreated on falling metal prices and 5% decline in crude oil prices. Copper and aluminum prices dropped to three-year lows as stockpiles increased on falling global demand for raw materials. Commonwealth Bank estimated higher loan losses.
Nov 13, 2008 1:34 PM ET
Stocks in Japan and in Asia fell more than 5% as the U.S. lawmakers struggle to decide the fate of General Motors. The largest U.S. electronics retailer Best Buy issued grim holiday sales outlook. Exporters in Japan fell. Currencies in the region declined more than 2%.
Nov 13, 2008 1:05 PM ET
Fluor Corporation third quarter revenue rose to $5.7 billion from $4.1 billion on growth in the oil and gas and power segments. Net earnings surged 95% to $183 million and earnings per share doubled to $1.01 per diluted share compared to $0.51 a share.
Nov 13, 2008 4:06 PM ET
General Electric fell sharply on the worries that its financial service unit may need more capital and the company may need to trim dividend, which the company denied. GE dropped to 12-year low. Retailers and financials fell sharply as Treasury Secretary Paulson keeps changing his focus.
Nov 13, 2008 9:46 AM ET
Asian stocks fell sharply as the U.S. politicians added more uncertainties to the markets. Lawmakers in the U.S. send conflicting signs regarding General Motors bailout and U.S. Treasury Secretary keeps changing his focus. Asian markets fell more than 5% and currencies declined 2% or more.
Nov 12, 2008 10:52 PM ET
Starbucks, the coffeehouse chain reported a 3% rise in fourth quarter revenues to $2.5 billion from a year ago. Net income declined 97% to $5.4 million and earnings per share fell to $0.01 compared to $0.21 per share in the prior year fourth quarter. Domestic comparable same store sales fell 5%
Nov 12, 2008 8:55 PM ET
Harley Davidson third quarter revenues declined 7.7% to $1.42 billion and diluted earnings per share fell 33.6% to $0.71 compared to $1.54 billion and $1.07 a year ago. The motorcycle manufacturer estimates full year diluted earnings per share between $3.00 and $3.10 compared to $3.00 to $3.18.