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Overnight Market News – July 15, 2010

admin — Thu, 15 Jul 2010 16:33:57 +0000

Economic Expansion in China Slows Moderately in Second Quarter to 10.3% After Credit Cuts
Jeffrey Immelt Announces General Electric Co’s Plan to Spend USD 20B on Technology to Increase Future Growth Prospects
JPMorgan Chase & Co Second-Quarter Net Profit Surges to USD 1.09 per Share from USD 0.28 per Share a Year Earlier as Loan Loss Reserves Eased
American International Group Inc Chairman Harvey Golub Resigns Over Dispute with Group CEO Robert Benmosche
BP Plc Repairs New Cap Leak in Preparation for Gulf Well Test to Entirely Stop Oil Flow
Agricultural Bank of China Ltd’s World Record USD 22B IPO Makes Lackluster Debut in Shangai as Investors View Shares as Overpriced
Crude Oil Stands at USD 77.52 per Barrel
Ethanol Stands at USD 1.57 per Gallon
Natural Gas Stands at USD 4.31 per British Thermal Unit (Btu)
Gold Stands at USD 1,209.40 per Troy Ounce
Dow Jones Industrial Average Rises 3.70 Points (0.04%) to 10,366.72
London FTSE Index Falls 1.79 Points (0.03%) to 5,251.73
Japan Nikkei Index Falls 109.71 Points (1.12%) to 9,685.53
Hong Kong Hang Seng Index Falls 305.19 Points (1.48%) to 20,255.62
Brazil Bovespa Index Falls 206.10 Points (0.32%) to 63,479.46

Overnight Market News – April 14, 2010

admin — Wed, 14 Apr 2010 13:14:43 +0000

JPMorgan Chase & Co First Quarter Earnings Rise 55% to USD 3.33B or USD 0.74 per Share on Higher Trading Revenue
American International Group Inc’s Aircraft Leasing Division Sells 53 Aircrafts to Macquarie Group Ltd for USD 1.99B
Intel Corp Profit Nearly Quadruples to USD 2.4B or USD 0.43 per Share in its Best First Quarter Performance on Record
Toyota Motor Corp Suspends Sales of its 2010 Lexus GX 460 After the Sport Utility Vehicle was Labeled a “Safety Risk” by Consumer Reports Magazine
Daimler AG Reaffirms its 2010 Operating Profit Forecast of EUR 2.3B or US D3.14B, Allowing it to Pay a Dividend Again
Singapore Unexpectedly Revalues its Currency After Raising Inflation Outlook and GDP Growth Forecast for 2010 to 9% up From the Previous Estimate of 6.5%
Crude Oil Stands at USD 84.89 per Barrel
Ethanol Stands at USD 1.54 per Gallon
Natural Gas Stands at USD 4.15 per British Thermal Unit (Btu)
Gold Stands at USD 1,158.30 per Troy Ounce
Dow Jones Industrial Average Rises 13.45 Points (0.12%)
London FTSE Index Rises 32.35 Points (0.56%)
Japan Nikkei Index Rises 43.67 Points (0.39%)
Hong Kong Hang Seng Index Rises 17.90 Points (0.08%)
Brazil Bovespa Index Rises 178.04 Points (0.25%)

Overnight Market News – February 25, 2010

admin — Thu, 25 Feb 2010 15:50:46 +0000

Coca-Cola Co Nears Deal to Purchase the North American Operations of its Largest Bottler, Coca-Cola Enterprises Inc for as Much as USD 15B
General Motors Co to Shut Down Hummer Brand After Proposed Sale to Sichuan Tengzhong Heavy Industrial Machines Falls Through
Lehman Brothers Holdings Inc Reaches Agreement to Settle USD 7.6B Claim Filed by JPMorgan Chase & Co Following Lehman’s Bankruptcy Filing in 2008
Royal Bank of Scotland Group Plc Narrows Full-Year Net Loss to GBP 3.6B (USD 5.5B) from GBP 24.3B a Year Ago, Helped by Strong Investment Banking Performance
Deutsche Telekom AG Narrows Fourth-Quarter Net Loss to EUR 3mm (USD 4.1mm) Versus EUR 370mm on Lower Charges and Fewer Write Downs
Europe’s Economic Confidence Index Slips to 95.9 in February from a Revised 96 in January, Missing Economists’ Estimate for a Rise to 96.4
Crude Oil Stands at USD 79.58 per Barrel
Ethanol Stands at USD 1.71 per Gallon
Natural Gas Stands at USD 4.84 per British Thermal Unit (Btu)
Gold Stands at USD 1,090.50 per Troy Ounce
Dow Jones Industrial Average Rises 91.75 Points (0.89%)
London FTSE Index Rises 1.97 Points (0.04%)
Japan Nikkei Index Falls 96.87 Points (-0.95%)
Hong Kong Hang Seng Index Falls 68.17 Points (-0.33%)
Brazil Bovespa Index Falls 313.56 Points (-0.47%)

Overnight Market News – November 19, 2009

admin — Thu, 19 Nov 2009 13:40:42 +0000

Organization for Economic Cooperation and Development Lifts Euro Zone 2010 Growth Forecast, Now Expects Expansion of 0.9% Versus Prior Estimate for Zero Growth
JPMorgan Chase & Co Agrees to Purchase Remaining Stake of UK Stockbroker, Cazenove for GBP 1B (USD 1.7B)
Sony Corp Aims to Return its Gaming and TV Businesses to Profitability by Fiscal 2011, Will Also Target 20% Market Share in LCD TV Market by April 2012
Brewer, SABMiller PLC Reports 26% Decline in First Half Pre-Tax Profit to USD 1.5B, Announces Programme to Save USD 300m Annually by 2014
Air France-KLM to Cut 1,700 Jobs in 2010 Following Worse-Than-Expected Quarterly Loss of EUR 147mm
German Chipmaker, Infineon Technologies AG Posts Fourth-Quarter Net Income of EUR 14mm Versus Net Loss of EUR 884mm a Year Ago on Cost-Cutting
Crude Oil Stands at USD 79.09 per Barrel
Ethanol Stands at USD 2.12 per Gallon
Natural Gas Stands at USD 4.24 per British Thermal Unit (Btu)
Gold Stands at USD 1,143.00 per Troy Ounce
Dow Jones Industrial Average Falls 11.11 Points (-0.11%)
London FTSE Index Falls 13.95 Points (-0.26%)
Japan Nikkei Index Falls 127.33 Points (-1.32%)
Hong Kong Hang Seng Index Falls 197.17 Points (-0.86%)
Brazil Bovespa Index Falls 890.32 Points (-1.32%)

Overnight Market News – November 16, 2009

admin — Mon, 16 Nov 2009 15:46:49 +0000

Japan’s Economy Grows at Fastest Pace in More Than Two Years, by an Annualized Rate of 4.8% in Third-Quarter Compared with Prior Quarter
General Motors Corp to Begin Repaying USD 6.7B Government Bailout by Year-End
Canon Inc to Buy Oce NV for EUR 730mm (USD 1.1B) in Cash to Expand Printer Operations
JPMorgan Chase & Co to Bid Over USD 3B to Buy the Remaining 50% Stake in its UK Joint-Venture Partner, Cazenove Group
Cisco Systems Inc Increases Offer for Norway’s Tandberg ASA by 11% to USD 3.4B
Crude Oil Stands at USD 77.36 per Barrel
Ethanol Stands at USD 2.01 per Gallon
Natural Gas Stands at USD 4.45 per British Thermal Unit (Btu)
Gold Stands at USD 1,116.10 per Troy Ounce
Dow Jones Industrial Average Rises 73.00 Points (0.72%)
London FTSE Index Rises 64.93 Points (1.23%)
Japan Nikkei Index Rises 20.87 Points (0.21%)
Hong Kong Hang Seng Index Rises 390.35 Points (1.73%)
Brazil Bovespa Index Rises 877.70 Points (1.36%)

Goldman Sachs Statement Pushes US Bank Shares Higher

admin — Tue, 06 Oct 2009 23:11:18 +0000

Goldman Sachs Group Inc pushed up shares of U.S. banks yesterday, after saying that the market has not recognized the significant improvement in earnings potential at big banks. Goldman Sachs boosted ratings on Wells Fargo & Co. to “Buy” from “Neutral”, added Capital One Financial Corp. to its “Conviction Buy” list and reaffirmed the “Conviction Buy” rating on Bank of America and JPMorgan Chase.

Financial stocks outperformed the market on Monday, rising 2.32% compared with the 1.49% climb for the S&P 500 Index.

JPMorgan Chase & Co Posts Higher Results

admin — Fri, 17 Jul 2009 14:38:47 +0000

Following a good performance from the Goldman Sachs Group, JPMorgan Chase & Co,. posted significantly higher results for its second quarter through June. JPMorgan Chase earnings increased 36% to US$2.7B from US$2B. The company benefited from its investment banking segment which grew revenue from trading and underwriting activity and eclipsed defaults on consumer loans which rose during the period.

Although JPMorgan Chase shares performed well up to mid-week, adding 4.47% through Wednesday, the stock fell 0.39% to close at US$36.12 yesterday.

Overnight Market News – June 9, 2009

admin — Tue, 09 Jun 2009 15:17:17 +0000

US Treasury to Announce Approval for 10 US Banks including JPMorgan Chase & Co, American Express Co to Repay TARP Funds
Bank of America Corp Announces Resignation of Two More Board Members
Fiat SpA Will Not Abandon Efforts to Buy Chrysler LLC after US Supreme Court Delays Deal
Royal Dutch Shell Chief Executive Officer Calls for Compensation Reforms for Top Executives
General Electric Co’s, GE Aviation Unit Expects Orders to Drop 50% in 2009
UK Housing Prices Fall at Slower Pace in 3-Month Period through May to -44.1 versus -58.7 in April
Crude Oil Stands at USD 68.99 per Barrel
Ethanol Stands at USD 1.84 per Gallon
Natural Gas Stands at USD 3.81 per British Thermal Unit (Btu)
Dow Jones Industrial Average Rises 1.36 Points (0.02%)
London FTSE Index Falls 9.30 Points (-0.21%)
Japan Nikkei Index Falls 78.81 Points (-0.80%)
Hong Kong Hang Seng Index Falls 194.90 Points (-1.07%)
Brazil Bovespa Index Rises 289.38 Points (0.54%)

Overnight Market News – June 5, 2009

admin — Fri, 05 Jun 2009 15:28:53 +0000

General Motors Corp Reaches Preliminary Agreement to Sell Saturn to Penske Automotive Group
Apple Inc Chief Executive, Steve Jobs On-Track to Return to Company as it Unveils New iPhone
US Unemployment Report for May to be Released at 7:30 am, Unemployment Rate Forecasted at 9.2%
US Regulators Dismiss Objections from JPMorgan Chase & Co, American Express Co Insisting the Companies Raise Equity before Repaying TARP Money
UK Manufacturing Output Prices Fall 0.3% in May, Biggest Annual Decline Since June 2002
Crude Oil Stands at USD 68.83 per Barrel
Ethanol Stands at USD 1.87 per Gallon
Natural Gas Stands at USD 3.83 per British Thermal Unit (Btu)
Dow Jones Industrial Average Rises 74.96 Points (0.86%)
London FTSE Index Rises 70.13 Points (1.60%)
Japan Nikkei Index Rises 99.05 Points (1.02%)
Hong Kong Hang Seng Index Rises 176.76 Points (0.96%)
Brazil Bovespa Index Rises 1,377.27 Points (2.64%)