Dec 08, 2008 4:59 PM ET
U.S. stocks surged on optimism that new administration will provide a large government stimulus to arrest faltering economy. At least today, investors are overlooking forces that will stoke inflation in the years to come. On Sunday, India lowered its lending rates. Oil and metals prices rise.
Dec 08, 2008 10:40 AM ET
Dell Inc third quarter fell 3% to $15.16 billion and net income in the period declined to $727 million or $0.37 per share compared to $766 million or $0.34 per share in the prior year quarter. Cash outflow from operations was $86 million and cash conversion cycle increased to 25 days.
Dec 07, 2008 12:35 AM ET
Autodesk, design software developer third quarter revenues increased 13% to $607 million. Diluted earnings per share increased 29% to 45 cents. The company expects fourth quarter revenue between $525 million and $550 million and earnings per share between 13 cents and 19 cents.
Dec 06, 2008 8:49 PM ET
PetSmart third quarter revenues increased 12.1% to $1.3 billion, and net profit rose to $35.8 million or 28 cents a share compared to $29.5 million or 23 cents a share. The company guided fourth quarter earnings per share between 59 cents to 62 cents.
Dec 05, 2008 5:44 PM ET
November unemployment rose 6.7% in the U.S. as 533,000 people lost their jobs, largest monthly cut in 33 years. Stocks closed higher after Hartford Financial lifted earnings outlook and Prudential offered better than expected earnings views.
Dec 05, 2008 2:24 PM ET
Insurance stocks rallied after Hartford and Prudential revised earnings outlook. Hartford Financial surged after it lifted its earnings guidance and Prudential soared 30% on its better outlook for 2009. Royal Bank of Canada declined 5%.
Dec 05, 2008 5:28 PM ET
Mumbai stocks dropped 2.6% on economic slowdown worries and terrorist attack rumors in New Delhi. Traders are expecting a large rate cut from the Reserve Bank of India after central banks in Europe cut rates. Rupee rose against the U.S. dollar. Larsen & Toubro suspended its entry in shipbuilding.
Dec 05, 2008 5:25 PM ET
U.S. stocks dropped after the November employment report showed 533,000 jobs were eliminated. The rate of job loss was the highest since 1974. Mortgage delinquencies and foreclosure rates rose to the record level in 30 years. Insurance stocks led gainers and energy stocks led decliners in S&P 500.
Dec 05, 2008 10:00 AM ET
European stocks fell sharply in the region after the release of higher than expected unemployment data in the U.S. German factory orders in October dropped 6.1% after dropping 8.3% in September. HSBC will retake its headquarters building from Metrovacesa after it failed to refinance the loan.
Dec 05, 2008 5:27 PM ET
Stocks in Shanghai and in Hong Kong surged after China offered more capital to stimulate the economy. U.S. and China provided together $20 billion for export financing. India and China plan to carry out a joint military exercise to combat rising terrorism in Mumbai.