Market Recap
DJIA -1.09%, Nasdaq -1.14% and S&P -1.07%
Nikkei -0.04%
WTI Crude Oil USD 42.61
Gold USD 950
USD/EUR 1.2710
U.S. stocks finish 1% lower on average volume as poor macro data continues to plague the market and investors digest the Treasury’s plans to stress test the biggest banks.
U.S. News
First Solar said 2009 sales will be USD 1.9bn at most, missing the average estimate of USD 1.99bn
Fluor reported a profit of USD 1.04 a share in Q4, beating the average analyst estimate by 14%.
Salesforce.com said profit jumps 86% and expects to earn at least 54c in 2009.
Citi will sell its Redecard stake in a public offer.
Del Monte Foods reported numbers ahead of market expectations and guided 2009 EPS 64-68 vs street expectations of 59c
European News
UBS said it named former Credit Suisse CEO Oswald Gruebel as CEO, replacing Marcel Rohner.
Banque Sarasin reports mixed 2008 numbers.
Sulzer reports 2008 results in line. The dividend is unchanged at CHF 2.8. Guidance for 2009 is mixed.
Allianz reports a FY08 net loss EUR 3.1bn and a light operating profit. Dresdner loss is larger than expected, but the story is over.
BASF reports Q4 sales EUR 14.3bn and plans to keep dividend stable for 2009
Deutsche Post reports numbers below market expectations and cut its dividend.
Randstad Q4 numbers are difficult to analyse due to write downs and inclusion of Vedior. Will pays no dividend for 2008 as market continued to decelerate.
Telefonica reports robust Q4 results and guidance for 2009 are in the range of the market expectations.
RWE said FY08 net income fell to EUR 2.56bn in line and guidance for 2009 will be at 2008 level.
Dexia reported a record Q4 profit loss on the sale of its U.S. bond insurance unit and provisions for declines in the value of mortgage-backed securities.
Areva reported last night a 21% decline in 2008 net income, worst than expected
GKN reports FY08 results above market expectations and says 2009 similar as 2008.
Philips could lower ist stake in LG Display (13.2% stake)
Microsoft sues TomTom over patents for car-navigation devices.
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