Dec 22, 2008 9:33 AM ET
Australian stocks fell after Fortescue Metals Ltd. said it issued 1.55 million shares for A$3.65 million to pay contractor bills for changes made to shipping contracts. Arrow Energy proposes to acquire Pure Energy for A$2.70 cash and 1.21 Arrow shares.
Dec 22, 2008 6:33 PM ET
Tokyo stock market averages jumped more than 1.6% after the Bank of Japan expanded its asset purchase plan to commercial debts. November exports from Japan dropped 27%. Toyota cut its net income for the fiscal year by 91% and projected operating loss. Sales estimates were cut by 18%.
Dec 22, 2008 6:31 PM ET
Central bank in China lowered interest rate for the fifth time in a row however, the size of rate cut surprised most economists. China is still hoping that economic stimulus, rate cuts and reduced cash reserve ratios will sustain economic growth at 8%.
Dec 20, 2008 1:26 PM ET
RiM revenues surged 66% to $2.8 billion. Net income increased 7% to $396 million or 69 cents a share. Nearly 2.6 million net new BlackBerry subscriber accounts were added. The Company estimated revenues between $3.3 billion and $3.5 billion and earnings per share of between $0.83 and $0.91.
Dec 19, 2008 5:42 PM ET
U.S. stocks staged a reversal of nearly 2% despite President offering emergency loans to GM and Chrysler. Bank of Japan lowered its key rate to 0.1% and expanded its role in purchasing government and corporate debt. HSBC Holdings dropped after S&P downgraded debt ratings of financial institutions.
Dec 19, 2008 3:06 PM ET
Research in Motion surged after it reported 66% increase in sales and 7% rise in earnings in the latest quarter. Cintas dropped 12% and led decliners in S&P 500 index after it settled with a government agency for safety violations. Fluor Corp declined on an analyst downgrade.
Dec 19, 2008 1:02 PM ET
Carnival, the largest cruise operator fourth quarter revenues gained 6% to $3.30 billion. Net income increased to $371 million or $0.47 a share compared to $358 million or $0.44 a share a year ago quarter. In the year the capacity increased 8.9% and net revenue yield in constant dollar rose 2.4%.
Dec 19, 2008 12:49 PM ET
FedEx second quarter earnings increased 3% to $ 493 million or $1.58 a share from $479 million or $1.54 a share a year ago. Revenue increased 1% to $9.54 billion. The company plans to eliminate $200 million costs in the quarter to generate $1 billion in annual savings.
Dec 19, 2008 4:08 PM ET
President Bush offered emergency loan of $13.4 billion to General Motors and Chrysler and additional $4 billion may be released after March of next year if two auto companies provide a restructuring plan. The decision lifted stocks of the companies and stock market indexes but tough road lies ahead.
Dec 18, 2008 7:05 PM ET
Zale, a specialty jewelry retailer reported first quarter revenues declined 3.5% to $364 million. Net loss from continuing operations was $45.3 million or $1.43 per share compared to $26.7 million or $0.54 per share last year. Comp stores sales decreased 3.7%.