Latest News In Stock Market Investment Research – Feb 13, 2009

Please note it is your responsibility to evaluate the accuracy, completeness and usefulness of any information, opinion or advice contained in the content below.

Gold drops $10 after three-day winning run

13 Feb 2009 at 5:37am

LONDON (MarketWatch) — Gold futures dropped Friday after three days of rises, sliding as world equities markets rebounded. Gold fell $10.10 to $939.10 an ounce in electronic trade.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

PepsiCo net income falls, hitting target

13 Feb 2009 at 5:15am

NEW YORK (MarketWatch) — PepsiCo said Friday fourth-quarter net income fell to $716 million, or 46 cents a share, from $1.26 bilion, or 77 cents a share in the year-ago period. Adjusted net income in the latest period was 88 cents a share. Revenue rose about 3% to $12.73 billion. The Purchase, N.Y. maker of snacks and drinks was expected to earn 88 cents a share on revenue of $12.82 billion, according to a survey of Wall Street analysts by FactSet Research. Looking ahead, PepsiCo expects 2009 core earnings-per-share growth in the mid-to high-single-digits on a constant currency basis. The company anticipates foreign exchange, at current spot rates, would adversely impact constant-currency core EPS by 8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Wyndham swings to large loss on goodwill charge

13 Feb 2009 at 5:12am

NEW YORK (MarketWatch) — Wyndham Worldwide Corp. said Friday its fourth-quarter loss totaled $1.36 billion, or $7.63 a share, swinging from a profit of $104 million, or 58 cents a share, in the same quarter a year before. The results included a non-cash charge of $1.3 billion to reduce the value of its goodwill related to the vacation ownership business. Excluding various one-time charges, the hospitality and travel company earned a profit of 47 cents a share. Analysts had expected earnings on average of 38 cents a share, according to a FactSet Research survey. Revenue for the quarter was $309 million compared to $383 million in the year-ago period. Wyndham said it expects 2009 adjusted profit of $1.61 to $1.85 a share.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Abercrombie & Fitch profit tumbles as sales drop

13 Feb 2009 at 5:12am

NEW YORK (MarketWatch) – Abercrombie & Fitch Co. said Friday that its fourth-quarter profit fell to $68.4 million, or 78 cents a share, from $216.8 million, or $2.40, in the same period a year earlier. Sales fell 19% to $998 million with comparable store sales declining 25%. The teen clothing retailer said it’s not providing a profit forecast for this year because it sees a difficult selling environment to persist throughout 2009 and said there may be significant volatility in sales levels.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Bombardier confirms plane it made crashed near Buffalo

13 Feb 2009 at 5:01am

LONDON (MarketWatch) — Bombardier said Friday that one of its Dash 8 Q400 planes was involved in a fatal crash near Buffalo, New York which killed all 48 aboard, and one person on the ground. The aircraft maker said it can’t comment or speculate on the cause of the accident until federal investigators release their findings. The Continental Connection flight was operated by Colgan Aiways, a unit of Pinnacle Airlines Corp. .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Fortis put on review by Moody’s with direction ‘uncertain’

13 Feb 2009 at 4:22am

LONDON (MarketWatch) — Moody’s Investors Service on Friday put the credit rating of Fortis Bank on review with “direction uncertain” following the decision by shareholders to reject the sale of 50% plus one share of Fortis Bank to the Belgian state. “As a result of this vote, the current stake of 99.93% in Fortis Bank held by the Belgian State could be contested even though the government effectively assumed ownership in October 2008. Moody’s said that, although legal disputes cannot be ruled out, it considers a potential ultimate reversal of a majority state ownership as the least likely outcome though the review with direction uncertain reflects the possibility thereof,” the rating agency said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Cognizant Technology fourth-quarter profit rises 17%

13 Feb 2009 at 4:20am

LONDON (MarketWatch) — Cognizant Technology Solutions Corp. on Friday said fourth-quarter net income rose to $112.3 million, or 38 cents a share, in the fourth quarter, up from $96.3 million, or 32 cents a share, in the same period of the previous year. The figures include a a charge of 3 cents a share for non-operating foreign exchange losses tied largely to the weakness of the British pound, the Teaneck, N.J.-based company said. The consensus forecast was for fourth-quarter net income of 38 cents a share, according to a FactSet Research survey of analysts. Fourth-quarter revenue rose to $753 million, up from $600 million in the final quarter of 2007. The company said it expected first-quarter earnings of 37 to 38 cents a share, and full-year 2009 earnings of at least $1.54 a share.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Nabor Industries sees $400 million charge

13 Feb 2009 at 4:19am

LONDON (MarketWatch) — Nabors Industries said it’s going to take $1.14 a share of non-cash charges, or $400 million before tax, from oil and gas ceiling test adjustments and goodwill impairments. It’s expecting fourth-quarter results excluding the charge of be between 80 cents and 82 cents a share, which it called a “solid operationg performance across all business units.” Analysts polled by FactSet were looking for the Hamilton, Bermuda driller to earn 83 cents a share.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Air Canada swings to hefty loss, to reduce capacity

13 Feb 2009 at 4:15am

LONDON (MarketWatch) — Air Canada said it swung to a fourth-quarter loss of 727 million Canadian dollars ($586 million), with revenue falling 15% to C$2.5 billion. It earned C$35 million in the year-earlier quarter. The airline took C$527 million on foreign exchange losses. Air Canada says it had C$1 billion in cash and cash equivalents as of Dec. 31 and has assets that could support up to $1 billion in additional financing. For 2009, it expects capacity to decline by 2.5% to 3.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Nordic American Tanker profit climbs on ’sound’ market

13 Feb 2009 at 4:07am

LONDON (MarketWatch) — Nordic American Tanker said its fourth-quarter net income rose to $17.2 million, or 50 cents a share, from $1.68 million, or 6 cents a share, with revenue up to $40.5 million from $26.9 million, with the firm citing the stronger spot Suezmax tanker market. The quarter included a 5 cents a share hit on unplanned technical work on two vessels. It’s going to pay an 87 cents a share dividend. It added the sound Suezmax tanker spot market has to date continued into the first quarter 2009. Analysts polled by FactSet had forecast earnings of 51 cents a share.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Euro-zone fourth-quarter GDP plunges 1.5%

13 Feb 2009 at 3:06am

LONDON (MarketWatch) — Gross domestic product in the euro zone plunged 1.5% on a quarterly basis in the final three months of 2008, the statistical agency Eurostat reported Friday. Consensus expectations were for a 1.3% quarterly decline, although economists had subsequently expected a steeper plunge after weaker-than-expected national GDP data from Germany, France, Italy and Spain. Compared to the same quarter in 2007, fourth-quarter GDP fell 1.2%. For 2008, euro-zone GDP grew by just 0.7%. The fourth-quarter decline follows quarterly contractions of 0.2% in the second and third quarters.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Ericsson to provide managed services for T-Mobile UK, 3 UK

13 Feb 2009 at 2:17am

MADRID (MarketWatch) — Swedish telecom equipment maker Ericsson AB on Friday said it will provide managed services for the joint venture of T-Mobile U.K. — owned by Deutsche Telekom AG and 3 UK, owned by Hong-Kong based Hutchison Whampoa Ltd . Mobile Broadband Network Limited — the venture formed to help the two companies integrate and manage their 3G radio access networks — said Ericsson will help complete the consolidation of its 3G infrastructure. About 220 T-Mobile staff have transferred to Ericsson and the company will be responsible for the network design and deployment requirements of the consolidation program. In addition to consolidation and decommissioning of radio sites, Ericsson will also be responsible for acquiring and building new sites, capacity management, equipment swaps and upgrades to transmission facilities. The five-year contract includes management of ongoing growth and optimization of the 3G radio access networks as well as T-Mobile’s 2G access networks.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Panasonic directs mangers to buy its products

13 Feb 2009 at 1:15am

HONG KONG (MarketWatch) — Panasonic Corp has instructed its roughly 10,000 managers to each buy up to $2,200 worth of its branded products by the end of July, according to a Japanese media report. The directive, the first of its kind since a similar instruction in 2002, was issued as a way of driving home the message that the company is in a severe economic crisis, the Nikkei daily reported in its Friday evening edition. Middle managers are required to spend 100,000 yen ($1,096) while upper-level managers are being asked to spend 200,000 yen, the report said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

European shares up for first time in four sessions

13 Feb 2009 at 1:08am

LONDON (MarketWatch) — European shares rose for the first time in four sessions on Friday. A 1% rise for BP shares and a 2.3% gain for HSBC Holdings shares helped oil producers and bank stocks front that advance. Elsewhere, shares in drinks producer Pernod Ricard shot up 6.7% after it’s first-half net profit rose 5%, while shares in the London Stock Exchange rose 3.2% after it named a new CEO. Overall, the U.K. FTSE 100 index rose 1.1% to 4,250.01, the German DAX 30 index advanced 1.2% to 4,459.55 and the French CAC-40 index climbed 1.5% to 3,009.68.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

German Q4 GDP drops 2.1%, sharpest quarterly fall since 1987

13 Feb 2009 at 12:45am

LONDON (MarketWatch) — German fourth-quarter real gross domestic product fell 2.1% from the third quarter, data out Friday showed. The reading, which was the sharpest quarterly fall since 1987, was well below economist forecasts for a 1.8% drop.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Related Articles on Stock Market Investments.com

Latest News (external links)

Recent Articles on this site

Free Newsletter

Sign up for the free Daily newsletter, filled with tips and advice on Stock Market Investing, Stock Market Fundamentals, Day Trading, Online Trading, Commodities, Mutual Funds, Foreign Exchange and Options. Your email address will be kept confidential and won't be shared. Easily unsubscribe at any time.

If you enjoy the free information available on this site, you're sure to enjoy the free newsletter as well:

Enter your email address:

Delivered by FeedBurner

Site Search Tags:

Share and Enjoy:

February 13 2009 05:18 am | Stock Market News

Trackback URI | Comments RSS

Leave a Reply

Related Posts from the Past: