International News:Qualcomm, a maker of chips and other gear used in mobile phones, warned late Wednesday that a more mild outlook for the economy this year has caused it to cut back expectations. In his State of the Union Address Wednesday night, the president said that boosting employment is his administration's "No. 1 focus...
Saturday, January 30, 2010
Marico Ltd.- Concall Takeaways
Net sales increased 7.8 per cent to Rs.669.56 cr in Q3FY’10 compared to Rs.621.01 cr in Q3FY’09, while PAT after minority interest increased by 22 per cent to Rs.62.19 cr in Q3FY’10 compared to Rs.50.89 cr in Q3FY’09ParachuteMarico’s flagship brand, Parachute, achieved a volume growth of about 8% over Q3 FY09 in rigid packs. During...
Thursday, January 28, 2010
The Federal Reserve restated its intention to cease buying $1.25 trillion of mortgage-backed securities in March
International News:The Federal Reserve restated its intention to cease buying $1.25 trillion of mortgage-backed securities in March and maintained its pledge to keep interest rates near zero for an “extended period,” opening a rift among policy makers for the first time in a year. New home sales plunged to a 9-month low, according...
Friday, January 22, 2010
US stocks tumbled Thursday after the Obama administration announced a proposal to increase regulation of the nation's biggest financial firms
International News:US stocks tumbled Thursday after the Obama administration announced a proposal to increase regulation of the nation's biggest financial firms, including limiting the size and scope of their trading operations. Japanese stocks plunged as part of a global rout after a U.S. government proposal to ban banks from...
Thursday, January 21, 2010
China’s growth rate accelerated to the fastest pace since 2007
International News:China’s growth rate accelerated to the fastest pace since 2007 in the fourth quarter, signaling a need to rein in credit growth that threatens to destabilize the world’s fastest growing major economy. Gross domestic product rose 10.7 percent from the same period a year ago, more than the median forecast of 10.5...
Wednesday, January 20, 2010
Financial firm Citigroup reported a $7.6 billion quarterly loss,
international News:Financial firm Citigroup reported a $7.6 billion quarterly loss, partly due to the bank paying back the government $20 billion in bailout funds. On a per-share basis, Citigroup lost 33 cents, in line with forecasts, after reporting a loss of $2.44 a share in the prior year's quarter. The British candy company...
Jain Irrigation Systems Limited (JISL) is a leading agri-business multinational organization based in Jalgaon, Maharashtra.
Jain Irrigation Systems Limited (JISL) is a leading agri-business multinational organization based in Jalgaon, Maharashtra. JISL manufactures a wide range of products, which include irrigation systems, piping systems, plastic sheets, bio-fertilizers, solar water heating systems and photovoltaic appliances. JISL is also present...
Tuesday, January 19, 2010
The head of the IMF said China and other developing Asian economies are leading a global recovery
International News:The head of the IMF said China and other developing Asian economies are leading a global recovery that is faster and stronger than expected, but warned that money rushing into emerging markets could lead to asset bubbles. Dominique Strauss-Kahn, the managing director of the International Monetary Fund, strongly...
ZEE Entertainment Enterprises Limited- Concall highlights
Advertising revenues for Q3FY’10 were Rs.2,707 million, an increase of 1% as compared to the corresponding period last fiscal, while subscription revenues were Rs.2,467 million for Q3FY’10, an 8% increase as compared to the corresponding period last fiscal. Subscription revenues from domestic DTH were Rs 632 million during Q3FY’10,...
Monday, January 11, 2010
Japan Airlines Corp.
Domestic News:Japan Airlines Corp. is preparing for what may be the country’s sixth-largest bankruptcy as Prime Minister Yukio Hatoyama breaks with predecessors who bailed out the carrier three times in the past nine years. Already the biggest auto market and steel maker, China edged past Germany in 2009 to become the top exporter,...
China’s exports probably ended a 13- month slide in December
International News:China’s exports probably ended a 13- month slide in December, aiding an economic rebound that has so far depended on government stimulus measures and a credit-fueled building boom. US December sales rose 2.8 percent compared with a year ago, according to the ICSC sales index; sales for the year fell 2 percent...
Payroll services firm ADP said employers in the private sector cut 84,000 jobs
Domestic News:Payroll services firm ADP said employers in the private sector cut 84,000 jobs from their payrolls last month, the smallest monthly decline since March 2008. However, economists surveyed by Briefing.com were expecting 75,000 cuts, on average. Employers cut 145,000 jobs in November. The Institute for Supply Management's...
Asian stocks rose, lifting the MSCI Asia Pacific Index to the highest level in 16 months
International News:Asian stocks rose, lifting the MSCI Asia Pacific Index to the highest level in 16 months, after U.S. manufacturing expanded at the fastest pace in more than three years and commodities gained. The Institute for Supply Management's manufacturing index rose to 55.9 in December from 53.6 in November, signifying...
Asian stocks rose after Chinese manufacturing expanded in December
International News:Asian stocks rose after Chinese manufacturing expanded in December and a stronger dollar boosted the earnings outlook for Japanese car and electronics manufacturers. Kraft Foods Inc. will probably extend its 10.5 billion-pound ($16.9 billion) hostile bid for Cadbury Plc, analysts said, as the U.K. chocolate maker’s...
Crude oil rose for a seventh day as colder weather in the U.S.
International News:Crude oil rose for a seventh day as colder weather in the U.S. increased demand for heating fuels. Prices are poised for the biggest annual gain since 1999 on optimism consumption will rebound as the global economy recovers. Chinese central bank Governor Zhou Xiaochuan said that 2010 will be a crucial year for...
Wednesday, January 6, 2010
The U.S. economy grew at a 3.5% annual rate in the third quarter
International News:The U.S. economy grew at a 3.5% annual rate in the third quarter, ending a string of declines over four quarters that resulted in the most severe slide since the Great Depression. Asian stocks advanced, paring the MSCI Asia Pacific Index’s first monthly decline since February, as Japan’s jobless rate unexpectedly...
US GDP is expected to have grown at a 3.2% annualized rate in the third quarter
Domestic News:US GDP is expected to have grown at a 3.2% annualized rate in the third quarter after shrinking at an 0.7% annualized rate in the second quarter. US new home sales fell to a 402,000 unit annualized rate in September from a revised 417,000 unit annualized rate in August, the Commerce Department reported. US orders...
Consumer sentiment took a plunge in October
Domestic News:Consumer sentiment took a plunge in October, according to a Conference Board report released after the start of trading. Home prices rose for the fourth month in a row in August, according to the S&P Case-Shiller Home Price index of the 20 largest metropolitan areas. The largest U.S.-based steel maker said it...
Asian stocks declined, dragging the MSCI Asia Pacific Index down by the most in three weeks
International News:Asian stocks declined, dragging the MSCI Asia Pacific Index down by the most in three weeks, as raw- material prices fell and Hong Kong enacted measures to curtail property speculation. U.S. stocks will “drop painfully from current levels,” in the coming year amid disappointing economic data and profits as margins...
Tuesday, January 5, 2010
U.S. equities are about 40 percent above their fair value
Domestic News:U.S. equities are about 40 percent above their fair value and headed for a decline as central banks pull back on quantitative easing that has pushed up asset prices, according to economist Andrew Smithers. Asian stocks gained after Toyota Industries Corp. reported unexpected profit and South Korea’s economy grew at...
Goldman posted a $3.2 billion quarterly profit
International News:Goldman posted a $3.2 billion quarterly profit Thursday, crushing Wall Street estimates for the third straight quarter. New York-based Goldman made $5.25 a share, up from $1.81 a year ago and well above the $4.24 analysts surveyed by Thomson Financial were forecasting. International Business Machines posted third-quarter...
US housing starts rose to a 590,000 unit annual rate in September
Domestic News:Yahoo Inc. raised its outlook for the rest of the year as it reported third-quarter earnings that blew past analysts' forecasts. US housing starts rose to a 590,000 unit annual rate in September, versus a revised 587,000 in the previous month. Economists expected starts at a 610,000 unit annual rate. US building...
Bank of America lost $1 billion in the third quarter
Domestic News:After reporting big profits over the last six months, Bank of America lost $1 billion in the third quarter as growing numbers of consumer loans soured and the bank paid millions of dollars to wean itself off government life support. GE said its third-quarter net income fell 44% to $2.4 billion, or 23 cents per share,...
Merck net income jumped to $3.46 billion
International News:Merck net income jumped to $3.46 billion, or $1.61 a share, from $1.12 billion, or 51 cents, a year earlier, Whitehouse Station, New Jersey-based Merck said. Asian stocks advanced as earnings reports from Australia to South Korea to Japan boosted speculation the global economy is exiting recession. Around 531,000...
China’s economy expanded at the fastest pace in a year
International News:China’s economy expanded at the fastest pace in a year as stimulus spending and record lending growth helped the nation lead the world out of recession. Wells Fargo reported a profit of $3.2 billion in its latest quarter as strength in its mortgage-lending business and other units tempered the impact of losing...
Consumer sentiment took a plunge in October
International News:Consumer sentiment took a plunge in October, according to a Conference Board report released after the start of trading.Home prices rose for the fourth month in a row in August, according to the S&P Case-Shiller Home Price index of the 20 largest metropolitan areas. The largest U.S.-based steel maker said...
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