Overnight Market News – August 5, 2009

admin — Wed, 05 Aug 2009 12:43:31 +0000

Lloyds Banking Group Plc Posts First Half Loss of GBP 4B or USD 6.8B as Loan Impairments Surged More than Five Fold to GBP 13.4B from a Year Ago
Adidas AG Second Quarter Profits for Period Ended June Plummets 93% to EUR 9mm from EUR 116mm a Year Earlier on Lower Consumer Spending
Hong Kong’s Biggest Carrier, Cathay Pacific Airways Ltd Returns to Profit Reporting First Half Earnings of USD 104.8mm on a USD 271mm Fuel-Hedging Gain
UK Services Unexpectedly Grows at Fastest Pace in Seventeen Months in July as the Services Index Rose to 53.2 from 51.6 in June
Kraft Food Inc Second Quarter Profits Jump 11% to USD 827mm or USD 0.56 per Share Up from USD 745mm or USD 0.49 per Share a Year Ago
French Bank Societe Generale SA Second Quarter Profits Halved to EUR 309mm Down from EUR 644mm a Year Earlier on Increasing Write-Downs
Crude Oil Stands at USD 71.13 per Barrel
Ethanol Stands at USD 1.74 per Gallon
Natural Gas Stands at USD 3.98 per British Thermal Unit (Btu)
Gold Stands at USD 967.90 per Troy Ounce
Dow Jones Industrial Average Rises 33.63 Points (0.36%)
London FTSE Index Rises 11.90 Points (0.25%)
Japan Nikkei Index Falls 122.48 Points (-1.18%)
Hong Kong Hang Seng Index Falls 301.66 Points (-1.45%)
Brazil Bovespa Index Rises 40.26 Points (0.07%)

Adidas’ Profits Plummet

admin — Wed, 06 May 2009 19:38:11 +0000

One year ago, Adidas AG reported solid earnings as its soccer equipment sales were boosted by the Euro 2008 soccer tournament. This year however, the sporting goods maker wasn’t as fortunate, as its profits plummeted 97% to EUR 5M for the first three months of 2009. Sales for the period were down 2% to EUR 2.58B, as global demand for sneakers tumbled, particularly in North America. Adidas however hopes that it can rebound later this year, and it announced plans to restructure its business in an effort to save EUR 100M.

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Overnight Market News – August 5, 2009

Adidas’ Profits Plummet