May 12, 2008
The U.S. equity markets closed down Friday
The U.S. equity markets closed down Friday, penalized by the new historic high oil prices to 126 dollars a barrel. The trend has also been affected by financial stocks after the announcement of a record quarterly loss of the first global insurer AIG Thursday evening and the decision of Citigroup (NYSE: C - news) to sell for $ 400 billion of assets non-strategic in order to cope with the credit crunch. The Dow Jones (news) closed down 0.94% to 12745.88 points and the Nasdaq Composite (NASDAQ: news) lost 0.23% to 2445.52 points.
New wave black for the American banking sector. Yesterday, after the close on Wall Street, American International Group (-0.91% to 41.34 dollar) announced need raise 12.5 billion dollars after posting its second quarterly loss record in the first quarter of 2008. For its part, Citigroup (+1.24% to 24.40 dollars), the largest global banking group, confirmed an information ¯ ® Financial Times that he intended to sell about 400 billion dollars' non-strategic assets within two or three years.
THE FIGURES MACROECONOMIC
The trade deficit shrank to U.S. 58.21 billion in March. The month of February was revised to 61.71 billion dollars.
THE VALUES TO FOLLOW
ACTIVISION (NASDAQ: ATVI - News) Activision unveiled quarterly results above expectations grƒce the success of the video game Guitar Hero ® ¯ 3. In the fourth quarter, the American group reached a net profit of 44.2 million, or 14 cents per share, against a loss of $ 14.4 million, or 5 cents per share, a year earlier. Excluding exceptional items, earnings per share amounted to 17 cents, compared with a Thomson Financial consensus of 12 cents. Turnover grew by 93% to 602.5 million. Analysts on average were aimed 369.1 million.
AIG's largest insurer American announced need raise 12.5 billion dollars after posting its second quarterly loss record in the first quarter of 2008. American International Group (NYSE: AIG - news) (AIG), reported a net loss of 7.81 billion dollars over the first three months of the year, against a gain of 4.13 billion a year earlier . This against-performance due to the 15 billion dollars of depreciation recorded by the group over the period.
CITIGROUP The first U.S. bank confirmed the words of the daily Financial Times ® ¯ and announced its intention to sell about 400 billion dollars of non-strategic assets within two or three years, according to documents posted on the website group. Today, Vikram Pandit, the CEO of the largest financial services group in the world meets its shareholders. It will expose them the ins and outs of his plan drastic reduction in costs to restore the financial balance of the facility.
WACHOVIA Kennedy Thompson, chairman of the board of directors of the fifth U.S. bank abandons his post to devote himself to operations on a daily basis. Lanty Smith, CEO of the bank Tippet Capital and board member of Wachovia (NYSE: WB - news) will resume the post of non-executive chairman. This year, Ken Thompson had recognized that the acquisition of Golden West Financial in 2006 to 24 billion euros had intervened at the wrong time for the group. Wachovia reported a loss of 708 million dollars in the first quarter.
its Chairman Eric Schmidt said that discussions were continuing with Yahoo! about their possible collaboration in the field of research sponsored. In April, the search portal conducted a limited test of the system to associate Google advertisements to research on the Internet. This test has proved conclusive. The increased efficiency of the platform would search engine Yahoo! generate additional cash flow which could reach up to one billion dollars, according to an analyst at CitibanktT
by erectusplus at 9:30 AM |
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