- 18Oct
Japanese stocks rose after Citigroup Inc. reported profit that exceeded analysts’ estimates, boosting the outlook for corporate earnings, and as oil prices gained. Mitsubishi UFJ Financial Group Inc., Japan’s largest bank by market value, climbed 1.6 percent. Nintendo Co., the world’s biggest maker of portable video-game players, advanced 1.5 percent after the stock was rated “overweight” at JPMorgan Chase & Co. Inpex Corp., Japan’s No. 1 oil-explorer, rose 0.9 percent, after oil prices increased.
- 18Oct
IBM won fewer technology services deals than expected in the third quarter, sending its shares 3.7 percent lower, although it announced stronger profits and raised its full-year outlook A decline in services and outsourcing contracts signed in the quarter, a key indicator of future revenue growth, prompted some investors to take profits after the shares hit a historic high of $143.04 earlier in the day.
- 18Oct
U.S. stock indexes rose slightly on Monday after better-than-expected results from Citigroup and ahead of key earnings in the technology sector. Citigroup Inc (C.N) shares rose 3 percent, to $4.07, putting a bid under bank shares, after it reported a third consecutive quarterly profit, slightly beating Wall Street's forecasts. For details see [ID:nN18138072].
- 18Oct
Citigroup Inc. (C) managed to grow its core businesses broadly in the third quarter. Revenue and profits rose from the year-earlier period despite wobbly capital markets as Chief Executive Vikram Pandit appeared to turn the ship in a new direction. The bank's third-quarter profit was $2.2 billion, up from $101 million a year earlier, with per-share profit of seven cents coming in just above analysts' estimates. The amount the bank set aside for credit losses fell. Revenue in its core banking businesses rose 7% on the year, to $16.3 billion, excluding accounting changes and the businesses and assets it wants to divest -- but fell 1.2% from the previous quarter.
- 18Oct
Industrial production contracted in September for the first time in more than a year, pointing to continued slowdown in growth and cementing expectations of further monetary policy easing next month. Separately, home-builder sentiment rose this month but remained at depressed levels, fortifying views that the Federal Reserve would pump more money into the economy at its meeting November 2-3 to stimulate the stuttering recovery.
- 18Oct
The dollar rose from a 10-month low against a basket of currencies on Monday for the second straight session as investors continued to bet recent declines against the greenback are overdone. Gains were limited though amid uncertainty on the size of further quantitative easing though investors were more certain it will occur after Federal Reserve Chairman Ben Bernanke on Friday offered his most explicit signal yet that the U.S. central bank was set to ease monetary policy further. For more see [ID:nN15187998].
- 18Oct
Making a new move into the fledgling market for generic biotech drugs, pharmaceutical giant Pfizer has acquired worldwide rights to sell human insulin and insulin analogs being developed by Biocon, one of India’s largest biotech companies. Under the terms of the deal, announced Monday, Pfizer will pay Biocon $200 million initially and up to $150 million in additional payments. Biocon will manufacture the diabetes drugs for Pfizer.
- 18Oct
General Electric Co. on Monday announced significant new U.S. investment in its appliances division after spending much of 2008 trying to shed the flagging unit. The conglomerate said GE Appliances & Lighting will add 500 U.S. jobs by 2014 and invest $432 million to design and manufacture efficient and environmentally friendly refrigerators.
- 18Oct
With 60 new oil rigs and high demand, Halliburton doubles profits in North America to offset global losses. Halliburton reported revenue that was nearly a third higher and earnings that were double last year, as a result of robust drilling in North America.
- 18Oct
Quicksilver Resources Inc. (KWK) said a group of shareholders led by the company's ruling Darden family wants to review alternatives for the natural-gas company that include taking it private for a "substantial premium." Shares leapt 17% to $14.80 in recent trading and earlier hit $14.97, the highest since April.
