Market Recap
DJIA +1.34%, Nasdaq +2.06% and S&P +1.64%
Nikkei +1.60%
WTI Crude Oil USD 40.88
USD/EUR 1.2768
US stocks rally on chatter out of Washington that mark to market rules may be suspended as well as reports the Senate had enough votes to pass the stimulus package. Volumes were up and volatility eased slightly to 43.7%
U.S. News
Wal-Mart, BJ’s Wholesale, Aeropostale and The Bluckle reported ‘good’ same-store sales.
JDS Uniphase reported light Q4 revenue at USD 357m
Cisco topped quarterly earnings expectations, but disappointed investors on guidance.
MasterCard announced better than expected Q4 earnings and gave optimistic forecasts.
International Flavors and Fragrances reported Q4 numbers above market estimations.
European News
Volvo reports unexpected USD 165m loss as demand for trucks plummets.
Syngenta full year profit rises 25% above market estimation, dividend also increase to CHF 6. Guidance and share buy back doesn’t meet market attend.
Julius Baer reports inflows in PB of CHF 17bn, but all in all numbers were mixed. JB says will continue its buyback program.
LVMH reported last night in line numbers but gave no guidance for 2009.
Luxottica, the world biggest maker of eyeglass and sunglasses, reports lower than expected numbers and warns on 2008 net profit.
Hermes reports in line sales numbers, but the company targets flat sales and lower margin for 2009.
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