Feb 17, 2009 11:00 AM ET
The benchmark indexes in Hong Kong dropped 3.8% and in Shanghai declined 3.1% after foreign investors withdrew HK$500 million in January. Separately, China reported fiscal revenues in January declined 17.1% on similar decline in tax revenues. Hong Kong exports in December declined 13%.
Feb 17, 2009 8:54 AM ET
European markets closed lower as banking sector woes persist in the region. Raiffeisen International, Swedbank AB, UniCredit SpA and Daimler AG declined in the regional trading. Eastern European economies are expected shrink at a faster pace than the Western Europe as the region relied on debt.
Feb 17, 2009 8:25 AM ET
Wal-Mart fourth quarter earnings dropped 7.4% to $3.79 billion or 96 cents a share compared to $4.01 billion or $1.02 a share. The company increasingly reliant on international sales and sale of groceries at domestic locations in the U.S. had anemic sales growth.
Feb 17, 2009 7:55 AM ET
Stocks in Australia fell on the worries that the global recession is likely to deepen after G-7 meeting of ministers failed to offer clear path to recovery. China based Minmetals offered $2.6 billion bid for OZ Minerals. BG Group raises takeover offer for Pure Energy to A$995 million.
Feb 17, 2009 8:03 AM ET
Japan stock indexes declined after index for demand for services dropped in December. Passenger car sales from the eight biggest car makers will drop in the current fiscal year. Finance Minister Nakagawa resigned after he appeared intoxicated at a press conference after G-7 meeting.
Feb 17, 2009 1:02 AM ET
The healthcare products maker quarterly sales dipped 4.9% to $15.2 billion and net earnings rose 14% to $2.7 billion. Earnings per share increased to 97 cents from 82 cents a year ago quarter. The company expects earnings per share between $4.45 and $4.55 for fiscal 2009.
Feb 16, 2009 11:12 PM ET
The technology service company reported quarterly revenues decreased 6% to $27 billion and net income from continuing operations rose 12% to $4.4 billion. Earnings per share increased to $3.28 from $2.80 last year. The company estimates earnings of at least $9.20 per share in the fiscal 2009.
Feb 16, 2009 10:59 PM ET
The chip maker first quarter revenues of $2.5 billion but earnings plunged 55.5% to $341 million. Earnings per share were 20 cents compared to 46 cents a year ago quarter. The company estimates second quarter revenues to be in the range of $2.25 billion to $2.45 billion, a 6% to 14% decrease from a year ago.
Feb 16, 2009 12:03 AM ET
European markets close lower on weakness in banks and financial stocks. G-7 finance ministers fail to offer a clear plan to prevent the further widening of the economic downturn and persistent weakness in banking sector. Air Liquide rallies on strong earnings.
Feb 16, 2009 9:12 PM ET
UK stocks dropped after a gloomy economic forecast from the largest industry group. The latest estimate suggests that the economy can drop as much as 4.5% in the next six quarters and the growth may resume the earliest and in 2011. For the current the economy is forecasted ot shrink 3.3%.