http://www.123jump.com//Stock Market Update, IPO profiles, Earnings Call Transcripts, Economic news, company news, Mutual funds profile,Earnings News, Mutual Fund Managers,Industry sectors, Oil and Natural Gas stocks - 123Jumphttp://www.123jump.com//http://www.123jump.com/images/logo_home.jpg16066Stock Market Update, IPO profiles, Earnings Call Transcripts, Economic news, company news, Mutual funds profile,Earnings News, Mutual Fund Managers,Industry sectors, Oil and Natural Gas stocks - 123Jump1999-2007 123jump.com, Inc. All rights reservedWed, 16 Jul 2008 01:00:00 -0400http://www.123jump.com/earnings-story/AMR and Delta Post Losses/28611/Wed, 16 Jul 2008 11:02:00 -0400Two of the three largest U.S. airlines reported sharply higher losses in the latest quarter on rising fuel bill and mounting charges of reducing staff and grounding airplanes. AMR, the parent of American Air reported second quarter loss fo $1.45 billion as revenue rose 5.1% to $6.18 billion. Fuel bill jumped by $838 million from a year ago quarter. Separately, Delta Air Lines reported second quarter loss of $1.04 billion on revenue rise of 10% to $5.5 billion.123jump.com Staffhttp://www.123jump.com/economy-story/Crude Gasoline and Distillate Inventories Gain/28610/Wed, 16 Jul 2008 10:52:00 -0400U.S. commercial crude oil inventories increased by 3.0 million barrels from the previous week. At 296.9 million barrels, U.S. crude oil inventories are near the lower boundary of the average range for this time of year. Total motor gasoline inventories increased by 2.4 million barrels last week, and are in the upper half of the average range. Both finished gasoline inventories and gasoline blending components inventories increased last week.123jump.com Staffhttp://www.123jump.com/market-update/Alpha Agrees to $10 B Offer; Wells Fargo Up/28609/Wed, 16 Jul 2008 10:49:00 -0400U.S. stocks rise after $10 billion merger announcement, losses fom American Air and Delta Air Lines and talks of dividend cut at Fanne and Freddie. Cleveland-Cliffs agreed to acquire coal miner Alpha Natural Resources for $128 a share or $10 billion. AMR, the parent of American Air reported quarterly loss of $1.45 billon and Delta Air Lines lost $1.04 billion. Wells Fargo rose afte it reported second quarter profit of $1.75 billion or 53 cents per shrare on reveue rise of 16% to $11.5 billion.123jump.com Staffhttp://www.123jump.com/earnings-calls/Intel Earnings Call Second Quarter 2008/28608/Wed, 16 Jul 2008 10:27:00 -0400The microprocessor and chipset manufacturer reported income of $1.6 billion or 28 cents a share, up 25% from $1.28 billion or 22 cents a share as revenue rose 9% to $9.5 billion on better-than-expected demand in the microprocessor and chipset businesses. Intel’s focus on lowering costs and improving efficiency continues to provide considerable operating leverage, with $2.5 billion being returned to shareholders through share repurchases.Maclintosh Kuhlengisahttp://www.123jump.com/economy-story/Canada Factory Sales Rise 2.7 in May/28607/Wed, 16 Jul 2008 10:18:00 -0400Current dollar manufacturing sales rose 2.7% to $51.4 billion. This was the largest increase since March 2007 and the fourth increase in five months.123jump.com Staffhttp://www.123jump.com/earnings-calls/Johnson and Johnson Earnings Call Second Quarter 2008/28606/Wed, 16 Jul 2008 10:09:00 -0400The provider of products and services to advance the health and well-being of people reported earnings of $3.3 billion or $1.17 per share, up 6.4% from $3.1 billion or $1.05 a share in 2007 as worldwide sales to customers were $16.5 billion, up 8.7%. The firm has a strong a product pipeline with several products lined up for approval with the FDA.Maclintosh Kuhlengisahttp://www.123jump.com/earnings-calls/International Speedway Earnings Call Second Quarter 2008/28605/Wed, 16 Jul 2008 10:04:00 -0400The motor sports company reported total revenue decline of 4% to $174.9 million, from $181.0 million in 2007 on lower attendance. However, ongoing prudent management of controllable expenses resulted in income rising 41% to $26 million, or 52 cents a share, from $18.4 million, or 35 cents a share in 2007. The firm had a successful turnaround of equity investment in Motorsports Authentics and an aggressive return of capital through share repurchases.123jump.com Staffhttp://www.123jump.com/economy-story/Industrial Production Rebounds 0.5 in June/28604/Wed, 16 Jul 2008 09:55:00 -0400Industrial production advanced 0.5% in June after having fallen 0.2% in May. Industrial production for the second quarter as a whole dropped 3.1% from the first quarter. Manufacturing output gained 0.2% in June and was boosted by a jump of 5.4% in the output of motor vehicles and parts; activity resumed at motor vehicle parts and assembly plants that had been idled by a strike that began in late February and ended in late May.123jump.com Staffhttp://www.123jump.com/economy-story/Euro Area Inflation Hits 4/28603/Wed, 16 Jul 2008 09:39:00 -0400Euro area annual inflation was 4.0% in June 2008, up from 3.7% in May. A year earlier the rate was 1.9%.123jump.com Staffhttp://www.123jump.com/earnings-calls/Alcoa Earnings Call Second Quarter 2008/28602/Wed, 16 Jul 2008 09:33:00 -0400The producer of primary aluminum and fabricated aluminum reported net income of $520 million or 66 cents a share, down 27% from $715 million or 82 cents a share as higher input costs impacted the entire aluminum industry. Production decreased 50,000 tons as a result of the unexpected gas outage in Western Australia. The positive effect of higher prices was reduced by increased costs for caustic, natural gas and fuel oil, as well as a continued deterioration of the U.S. dollar to the A dollar.123jump.com Staffhttp://www.123jump.com/economy-story/Bernanke Cautious Remarks Inflation Risks/28600/Tue, 15 Jul 2008 09:26:00 -0400Inflation has remained high, running at nearly a 3.5% annual rate over the first five months of this year as measured by the price index for personal consumption expenditures. And, with gasoline and other consumer energy prices rising in recent weeks, inflation seems likely to move temporarily higher in the near term.123jump.com Staffhttp://www.123jump.com/economy-story/Consumer Price Index Increases 1.1 in June/28599/Wed, 16 Jul 2008 09:02:00 -0400The CPI-U advanced 1.1% in June, following a 0.6% increase in May. The index for energy rose sharply for the second straight month, increasing 6.6% in June following a 4.4% increase in May.123jump.com Staffhttp://www.123jump.com/economy-story/UK Unemployment Rises in June/28598/Wed, 16 Jul 2008 08:41:00 -0400The unemployment rate was 5.2% for the three months to May 2008, unchanged over the previous quarter but down 0.2 over the year. The number of unemployed people increased by 12,000 over the quarter but fell by 47,000 over the year, to reach 1.62 million.123jump.com Staffhttp://www.123jump.com/market-update/AIG Banks New Lows; Oil Down $6/28597/Tue, 15 Jul 2008 23:13:00 -0400Investors continue to sell financial stocks and stocks of Fannie and Freddie. Both lenders dropped 27% and led the decliners in the S&P 500 index. Kimberly Clark lowered its annual earnings outlook. State Street Corp rose after earnings increase more than 50%. UK inflation rose in June to 3.8% and the Bank of Japan left its key rate unchanged at 0.5%. Markets in Shanghai and Hong Kong dropped more than 4% and in India plunged 5%. Intel profit rises 25% on 9% sales increase.123jump.com Staffhttp://www.123jump.com/market-update/Weak Banks UK Benchmark Down 2.4/28596/Tue, 15 Jul 2008 17:55:00 -0400Stocks in London fell after the inflation in June rose at a rate of 3.8% and investors sold stocks of banks. Burberry, the luxury retailer confirmed its earnings guidance and expects to push its stock buyback to the second half of the year. The largest UK food maker, Premier Foods expects to meet annual earnings guidance as it passes on price increase to customers. Rio Tinto Group is expected to release trading update tomorrow.123jump.com Staffhttp://www.123jump.com/market-update/Stocks in HK Shanghai Down 4; Reserves Up/28595/Tue, 15 Jul 2008 17:54:00 -0400Stocks in China fell with a decline in regional markets, tracking losses in the U.S. and Europe. Benchmark indexes in Hong Kong and Shanghai fell 3.8% and 4.2% respectively. Chinese smelters of lead and zinc will lower production by 10% between July and September. China hopes to lift metal prices with lower supply and also divert electricity to support the Olympic Games. Foreign exchange reserve rose to $1.8 trillion at the end of June, 36% rise from a year ago.123jump.com Staffhttp://www.123jump.com/market-update/Stocks in Asia Japan Fall/28594/Tue, 15 Jul 2008 17:53:00 -0400The Bank of Japan left its key rate unchanged at 0.5%. The central bank cited rising inflation pressure and weak economy. Financial institutions in Japan estimated exposure to debt issued by Fannie and Freddie of $44 billion. Sumitomo Realty led the decliners in Nikkei 225 index with a loss of 6.5% followed by declines in Sumitomo Mitsui, Tokyu Land Corp, and Mitsubishi UFJ Financial Group.123jump.com Staffhttp://www.123jump.com//Marriott Q2 Earnings Call Transcript/28590/Tue, 15 Jul 2008 14:05:00 -0400Marriott International, Inc conducted fiscal second quarter earnings call with investors on July 10, 2008. The hotel chain operator discussed the impact of current U.S. economic slowdown on revenue and earnings but cited healthier earnings and revnue per available room rate in the international markets. The company raised $246 million in the second quarter. Group booking for the year are expected to rise 5% from a year ago.123jump.com Staffhttp://www.123jump.com/market-update/Oil Drops $7 Financials at New Lows/28589/Tue, 15 Jul 2008 13:03:00 -0400U.S. stocks recovered from the lows of the day as tech stocks edged to the positive territory. Nasdaq recovered from the loss of 1% but Dow and S&P 500 indexes continue to trade near loss of 0.4%. Kimberly Clark dropped more than 5% after it released premiminary results and lowered annual earnigs outlook. Citigroup, Fannie Mae, Freddie Mac and Bank of America fell to their new lows.123jump.com Staffhttp://www.123jump.com/market-update/Sensex Plunges 5/28588/Tue, 15 Jul 2008 12:31:00 -0400Benchmark index in Mumbai fell nearly 5% as global markets sold off. Expectations of higher inflation, impending confidence vote in parliament and net outflow of foreign investors kept stocks falling. Banks and realty stocks led the decliners. Banks are trading at one year low on the expectations of rising inflation and slowing economic growth. Latest data on industrial production lowered expectations of economic growth.123jump.com Staffhttp://www.123jump.com/market-update/Fear Grips Banks; World Markets Decline/28587/Tue, 15 Jul 2008 17:52:00 -0400Unhappy investors are increasingly distrustful of the U.S. government bailout plan of Fannie and Freddie that includes bond holders and excludes stock holders. Fannie and Freddie dipped to another low with a loss of more than 20% today and dragged stocks of banks and financial companies. Citigroup, SunTrust, Wachovia and Bank of America declined to their new lows not seen at least in the last ten years. General Motors cut its dividend.123jump.com Staffhttp://www.123jump.com/economy-story/Business Inventories Rise 0.3 in May/28584/Tue, 15 Jul 2008 10:44:00 -0400Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,479.3 billion, up 0.3% from April 2008 and up 5.2% from May 2007.123jump.com Staffhttp://www.123jump.com/economy-story/UK Consumer Prices up 3.8 in June/28582/Tue, 15 Jul 2008 10:17:00 -0400RPIX inflation – the all items RPI excluding mortgage interest payments – was 4.8% in June, up from 4.4% in May.123jump.com Staffhttp://www.123jump.com/economy-story/BOJ Keeps Overnight Rate at 0.5/28581/Tue, 15 Jul 2008 09:55:00 -0400Economic growth is slowing further reflecting weaker growth in business fixed investment and private consumption against the backdrop of high energy and materials prices. While growth will likely remain slow for the time being, it is expected to gradually return onto a moderate growth path thereafter. CPI inflation rate (excluding fresh food) is currently around 1.5 percent due to increased prices of petroleum products and food.123jump.com Staffhttp://www.123jump.com/economy-story/Bank of Canada Holds Key Rate at 3/28580/Tue, 15 Jul 2008 09:39:00 -0400The economy is judged to have moved into slight excess supply in the second quarter of this year; excess supply is expected to increase over the balance of the year. High terms of trade, accommodative monetary policy, and a gradual recovery in the U.S. economy are expected to generate above-potential growth starting early next year, bringing the economy back to full capacity around mid-2010. Canadian GDP is projected to grow by 1% in 2008, 2.3% in 2009, and 3.3% in 2010.123jump.com Staffhttp://www.123jump.com/economy-story/Retail Sales Increase 0.1 in June/28579/Tue, 15 Jul 2008 09:19:00 -0400The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $384.2 billion, an increase of 0.1% from the previous month and 3% above June 2007. The April to May 2008 percent change was revised from +1% to +0.8%.123jump.com Staffhttp://www.123jump.com/economy-story/Producer Price Index Rises 1.8 in June/28578/Tue, 15 Jul 2008 09:06:00 -0400The Producer Price Index for Finished Goods increased 1.8% in June, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This increase followed advances of 1.4% in May and 0.2% in April. At the earlier stages of processing, prices received by producers of intermediate goods rose 2.1% in June after moving up 2.9% in the prior month, and the crude goods index increased 3.7% following a 6.7% gain in May.123jump.com Staffhttp://www.123jump.com/earnings-story/Shuffle Master Pall Rise CMGI Drops/28103/Fri, 10 Jun 2011 02:22:00 -0400Pall Corporation, a maker of filters and purifiers said that third quarter sales rose 18% to $661.7 millon and earnings gained 26% to $63.3 million or 51 cents per share. Shuffle Master, casion products maker said second quarter sales rose 10% to $49 million but net income declined 11% to $3 million. The supply chain software developer reported third quarter revenue fell 15% to $239 million and net loss of $2.6 million.123jump.com Staff