Dec 24, 2008 11:42 AM ET
The solar panel material maker revenues increased 73.1% to $325.5 million and net income declined 15.8% to $22.2 million and earnings per share of 17 cents. The company guided PV module shipment and net revenue targets for the fiscal year of 2008 of 270 to 280 mw and $1.05 billion to $1.1 billion.
Dec 24, 2008 11:22 AM ET
The home builder reported wider net loss of $799.9 million or $2.53 per share in the quarter. Cancellation rate of orders was 47%. Total sold homes declined to 6,961 from 11,733 and average closing price declined 12% to $221,900. In the quarter the builder sold land and lots for $209 million.
Dec 24, 2008 11:11 AM ET
The troubled Chinese dairy, Sanlu Group was declared bankrupt by Hebei provincial court after it was closed in September for selling tainted milk formula. Hong Kong visitors in November declined 1.1% and weakness in tourism sector is likely to continue in 2009. China foreign trade gains 18% in 2008.
Dec 24, 2008 10:36 AM ET
The Cabinet in Japan approves the largest budget for the fiscal year beginning next April. The budget increased 6.6% despite a fall in tax receipts. The government proposes to spend more for pensioners, payment to states and for emergency economic fund. Denso lowered its annual profit estimate.
Dec 24, 2008 10:02 AM ET
Australian banks increase fees and charges collected from loan issuances for mortgages, personal loans and credit cards. The banks have increased charges as rates have been lowered. Instead of cutting management salaries and operating costs banks have looked at customers to collect more revenues.
Dec 23, 2008 4:52 PM ET
U.S. stocks declined after home sales dropped to another low in November. Sales are likely to decline further in December and in the first quarter of the next year as job losses mount. The U.S. third quarter GDP data was left unchanged and UK current account deficit increased.
Dec 23, 2008 4:39 PM ET
UK current account deficit in the third quarter rose to 2.1% of gross domestic product or £7.7 billion and in the second quarter GDP shrank at 1.8% rate. Service sector output in October increased 0.6% from September. Mortgage lending in November rose.
Dec 23, 2008 2:00 PM ET
U.S. automakers fell again after rating agencies lowered debt rating on the expectations of weak sales. Satyam continues to slide. Of the stocks in S&P 500 index, 290 declined, 201 rose and 9 are unchanged. Ford Motor led decliners in the S&P 500 index with a loss of 16.7%.
Dec 23, 2008 4:38 PM ET
U.S. existing home sales declined at a faster pace in November and median price of a home fell too. The home sales were the steepest in the Northeast followed by the South. The new home sales declined at 2.9% to 407,000 homes. The third quarter estimate of GDP decline was left unchanged at 0.5%.
Dec 23, 2008 10:05 AM ET
Stocks in Mumbai dropped 2.4% on the worries that global financial crisis will deepen and foreign investment to India may suffer. The government urged Reserve Bank of India to lower rates further but did not indicate when. Wipro agrees to pay $127 million to acquire Citi Technology Services.