|
|
ACC and Maruti Fall on Earnings
Apr 24, 4:32 PM EDT |
|
| Maruti, on the rising demand for small car Swift reported rise in sales in the fourth quarter and fiscal 2008 ended in March. |
|
| Maruti unit sales in fiscal 2008 increased 13% on 18% rise in sales. Earnings in the year increased 11% depsite tighter depreciation policies. In the fourth quarter, earnings plunged 33% on higher depreciation expenses. Maruti exported 7% of its vehicles in the fiscal year. Separately cement maker, ACC reported slight gain in profit on 8% rise in sales to 1,861 crore rupees. |
|
|
Full Story... |
Starbucks Plunges 10%, Stocks Decline
Apr 24, 9:57 AM EDT |
|
| Stocks declined at the opening on mixed earnings, a fall in durable goods orders and weekly jobless claims. |
|
| U.S. stocks edged lower after durable goods order fell 0.3% in March. Mixed earnings from several companies also weighed on the market. Amazon.com fell after earnings rose 30% to 34 cents per share. Apple edged lower after earnings missed the analysts target and Starbucks plunged 11% on weak same store sales and weaker earnings outlook for the year. FMC declined after it reported earnings surged to $1.23. Fidelity National Title fell on weak housing market and earnings slide. |
|
|
Full Story... |
Shanghai Surges 9%, PetroChina Up 10%
Apr 24, 4:30 PM EDT |
|
| Stocks in Shanghai and Hong Kong surged after China lowered stamp duty on trading. Property prices are expected to rise in the second quarter. |
|
| China, in a move to improve sagging sentiment among investors lowered its stamp duty tax on trading to 0.1% from 0.3%. Stock averages in China surged 9% on the move but stocks may sag again on rising inflation and growing disillusion among investors. Major indexes in China have lost at least 30% before gains of today. In Hong Kong stocks edged higher as well. Property prices are expected to rise in the second quarter as investors shift their focus away from stocks. |
|
|
Full Story... |
JFE, Fanuc Earnings Drive Stocks Lower
Apr 24, 8:42 AM EDT |
|
| Nippon Sheet Glass, Daiwa House, and Osaka Gas led the gainers in Nikkei 225 index shares. |
|
| Stocks in Japan edged lower after JFE Holdings reported revenue rise of 8.6% and earnings decline of 12.6%. The company also hinted that a sharp rise in raw materials costs from Australia will force it to revise prices of steel products higher and did not give earnings guidance for the rest of the year. Fanuc also estimated 4.6% decline in operating income. The BOJ reported March corporate services price index rose 0.4% after rising 0.7% in February. |
|
|
Full Story... |
European Markets Rebound
Apr 23, 6:30 PM EDT |
|
| March consumer spending in France declined 1.7% after rising 1.3% in February but rose 1.2% from a year ago. |
|
| European markets edged higher after a rise in metals and energy stocks. Infineon Technologies reported second quarter loss surged to 1.37 billion from 11 million euros after it wrote down the memory chip business that trades separately under the name Qimonda AG. Volkswagen sales rose 1.4% to 27 billion euros and earnings rose 26% to 929 million euro from 740 million euros. Essilor International SA reported first quarter sales rise of 3.6% to 762 million euros. |
|
|
Full Story... |
Starbucks, Amazon Fall, Apple Rises
Apr 23, 5:37 PM EDT |
|
| Amazon.com net income in the first quarter rose 30% to 34 cents per share from 26 cents on 37% rise in sales to $4.16 billion. |
|
| U.S. stocks rebounded after morning weakness, led by strength in the tech stocks. Apple after the close reported earnings of $1.16 per share compared to 87 cents a year ago on $7.51 billion in revenue compared to $5.26 billion a year ago. Starbucks reported second quarter sales rise of 12% and earnings per share declined to 15 cents from 19 cents a year ago. Starbucks also guided 2008 earnings to be lower than 87 cents in 2007. |
|
|
Full Story... |
Liberty Mutual Offers $6.2 B for Safeco
Apr 23, 3:15 PM EDT |
|
| Safeco stock jumps 46% after Liberty Mutual bids for the company in cash. |
|
| Safeco agreed to be acquired by Boston based Liberty Mutual at $68.25 per share of $6.2 billion. The deal represents 51% premium from the closing price of Safeco stock on Tuesday. Privately held Liberty Mutual will pay cash for the deal and there are no financial contingencies. Safeco, Seattle based insurer has struggled in the past five years as auto insurance premiums have declined and costs of servicing claims have risen. |
|
|
Full Story... |
Japan Trade Surplus Shrinks
Apr 23, 5:24 PM EDT |
|
| March trade surplus declined 30.2% to 1.12 trillion yen but exports to the U.S. fell 11% and to China and EU rose more than 3%. |
|
| Stocks in Japan advanced spurred by rising crude oil prices on growing demand from China and supply constraints from Iraq and Nigeria. In Tokyo trading Nikkei 225 rose 0.23% or 31.34 to 13,579.16, and the broader Topix Index increased 0.2% or 2.93 at 1,314.39.Exports in March grew 2.3% from the same period a year ago compared with 8.7% rise in February. Imports in March surged 11.1% on rising oil and materials costs. |
|
|
Full Story... |
Ambac Loss, Moody's Weak Earnings
Apr 23, 10:03 AM EDT |
|
| Ambac swung to a loss after it took charges incollateralized loans and increased its loan loss provisions. Moody's reported earnings declined 23%. |
|
| U.S. stocks edged higher after losing ground at the opening. Delta reported first quarter loss of $6.39 billion on revenue rise of 12% to $4.77 billion. Ambac Financial reported a loss of $1.66 billion compared to profit of $213 million from a year ago. Ambac reported loss in the quarter from CDOs of $1.73 billion and $1.04 billion in loan loss provisions. Health insurance company, WellPoint reported revenue rise of 3% to $15.55 billion and earnings decline of 25% to $588.1 million. |
|
|
Full Story... |
Euro Rises, Stocks Decline
Apr 22, 6:41 PM EDT |
|
| Euro rose to a record high against dollar and crude oil edged to a record level on continued supply disruptions in Nigeria. |
|
| European markets were cautious after a surprise plan by Royal Bank of Scotland to raise 12 billion. On the news banks traded lower. Euro reached another record high against dollar as talks of inflation fight circulated. Havas jumped 2.5% in Paris trading after it reported sales rise. Saint Gobain, building materials maker reported a decline in sales on the weakness in the North America. |
|
|
Full Story... |
1
2
3
4
5
6
7
8
9
10
 |
|
