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1. [verwijderd] 22 oktober 2009 12:38

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   Reuters
   
   The U.S. economy is firmly poised for a recovery from its deep recession but growth may be moderate and the job market will not revive immediately, senior White House aide Lawrence Summers predicted on Wednesday.
   
   "There's really no doubt that the third quarter registered growth, and growth at a nontrivial rate, and every expectation that the fourth quarter will do the same," Summers said in an interview as part of the Reuters Washington Summit.
   
   Summers, who heads the White House's National Economic Council, also gave strong backing to the beleaguered U.S. dollar, which has fallen to a 14-month low against major currencies.
   
   He said he did not think the dollar's status as a global reserve currency was in jeopardy.
   
   "I think the dollar ... is going to be the world's primary reserve currency for ... the foreseeable future," Summers said. "I think the most important thing we can do for the dollar is make sure that it rests on strong fundamentals."
   
   On the economy, Summers said the $787 billion stimulus package and inventory rebuilding by businesses were among the "dominant drivers" lifting the economy.
   
   But he said considerable slack remained in the economy and job growth would lag behind the broader economic recovery.
   
   "It will be some time before unemployment starts to decline. Once it declines it will take a long time to return to normal levels, given how elevated it is," he said.
   
   The jobless rate is now at a 26-year-high of 9.8 percent.
   
   "The question of what will propel growth throughout the expansion is still a crucial one," Summers added. "But that's always the case at the beginning of expansions."
   
   Most private economists think the recession, which began in December 2007, ended in the third quarter. But there is much disagreement about the path of recovery.
   
   Some see above-average growth continuing through next year, arguing that deep recessions are typically followed by powerful recoveries, helped along by pent-up demand as consumers and companies resume spending.
   
   Others worry that heavily indebted households will remain cautious in their spending, particularly with unemployment near 10 percent and likely to move higher, restraining a recovery.
   
   Concerned About Debt
   
   It remains unclear what further steps President Barack Obama's administration may take to spur job growth.
   
   One serious constraint is the $1.4 trillion budget deficit, which is equivalent to 10 percent of the economy -- the highest share since the end of World War Two. Forecasters believe the deficit will remain high in the coming years.
   
   Summers acknowledged those worries and their possible implications for the value of the dollar. He said he took "very seriously" longer-term concerns about indebtedness.
   
   Earlier on Wednesday, Commerce Secretary Gary Locke told Reuters Television the dollar was a "concern" because its weakness could push up the price of oil and other imports.
   
   Summers said the oil price, which hit a one-year high above $81 a barrel on Wednesday, did not risk throwing the U.S. recovery off the rails.
   
   "I think the increase in oil prices is probably ... more a reflection of recovery and the expectation of continued recovery than a threat to recovery," he said.
   
   As the administration considers further steps to give a boost to the job market and the economy, Summers said the White House was open to extending the tax credit for home buying, a popular idea on Capitol Hill.
   
   He said there was a case to be made for extending the credit "in terms of supporting the housing market." But he added: "At the same time, we can't afford everything for which there is a case."
   
   In a separate interview, Valerie Jarrett, another senior White House adviser, said the administration was considering whether to continue many programs that had been used to boost the economy.
   
   "We have to measure them against how successful have they been. And so we're in the process of doing that now," she said, adding that she was not leaning one way or the other on the housing tax credit.
2. [verwijderd] 22 oktober 2009 12:41

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   Oct. 22, 2009, 6:01 a.m. EDT
   Credit Suisse swings to $2.3 billion profit
   Private bank sees further inflows; results beat market expectations
   
   By Simon Kennedy, MarketWatch
   
   LONDON (MarketWatch) -- Credit Suisse said Thursday that it swung to a third-quarter profit of 2.35 billion Swiss francs ($2.33 billion), helped by further inflows into its private-banking business as well as market-share gains in investment banking.
3. [verwijderd] 22 oktober 2009 12:42

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   Travelers Cos Q3 profit beats market views
   Reuters - ‎23 minutes ago‎
   Oct 21 (Reuters) - Travelers Cos Inc (TRV.N), the largest US publicly-traded property-casualty insurer, posted a more than four-fold rise in quarterly profit, beating market expectations, helped by underwriting gains, and raised its full-year earnings ...
4. [verwijderd] 22 oktober 2009 12:43

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   Novartis says 3Q profit up 1 pct, raises outlook
   The Associated Press - Eliane Engeler - ‎20 minutes ago‎
   GENEVA - Drug maker Novartis AG posted Thursday a 1 percent increase in third-quarter net profit on strong sales of pharmaceuticals, such as its new Afinitor drug against kidney cancer, and raised its full-year outlook after the approval of its swine ...
   Novartis Raises Sales Forecast Wall Street Journal
5. [verwijderd] 22 oktober 2009 12:45

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   Summers: U.S. economic recovery on track
   www.reuters.com/article/newsOne/idUST...
6. [verwijderd] 22 oktober 2009 13:40

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   Travelers Profit Beats Market Views
   Published: Thursday, 22 Oct 2009 | 7:09 AM ET
   
   By: Reuters
   
   Travelers' quarterly profit more than quadrupled beating expectations, as underwriting gains surged.
   
   The New York insurer raised its full-year earnings outlook, approved a 10 percent dividend increase, and authorized a $6 billion share buyback.
   
   Third-quarter net income rose to $935 million, or $1.65 a share, from $214 million, or 36 cents a share, in the year-ago period.
7. [verwijderd] 22 oktober 2009 14:59

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   McDonald's posted a stronger-than-expected quarterly profit on Thursday, helped by cost controls and rising sales in all regions, and expects same-store sales to remain positive in October even though people eat out less often.
   
   McDonald's
   AP
   
   Shares of the world's largest hamburger chain rose 2 percent in premarket trading.
   
   McDonald's [MCD 58.33 --- UNCH (0) ] and some other fast-food chains have been outperforming other restaurant companies due to their lower-priced fare, but rising unemployment is erasing that advantage.
   
   McDonald's third-quarter net income rose to $1.26 billion, or $1.15 a share, from $1.19 billion, or $1.05 a share, a year earlier.
   
   Analysts on average expected the company to earn $1.11 per share, according to Thomson Reuters.
8. [verwijderd] 22 oktober 2009 16:47

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   Leading Indicators in U.S. Rise More Than Anticipated (Update1)
   
   www.bloomberg.com/apps/news?pid=20601...
   
9. [verwijderd] 22 oktober 2009 16:56

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   Na in de meltdown sectie 48 pagina's dagelijkse ellende over me heen gekregen te hebben terwijl de beurzen maar bleven stijgen. Nu een goednieuwsshow. Ik stap dus uit!
10. [verwijderd] 22 oktober 2009 17:13

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    LOL
    
    Philip Morris, Reynolds Beat Profit Estimates on Higher Prices
    Bloomberg - Chris Burritt, Sarah Rabil - ‎1 hour ago‎
    Oct. 22 (Bloomberg) -- Philip Morris International Inc., the world's largest publicly traded tobacco company, and Reynolds American Inc. reported third-quarter profit that beat analysts' estimates as higher prices ...
11. [verwijderd] 22 oktober 2009 17:13

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    Bizjournals.com - ‎16 minutes ago‎
    
    Calm weather and rising investment income boosted The Travelers Cos. Inc.'s profit sharply in the third quarter, the company reported Thursday.
    twincities.bizjournals.com/twincities...
12. [verwijderd] 22 oktober 2009 17:19

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    UPDATE
    
    Credit Suisse 50% boven verwachtingen
    
    Credit Suisse, na UBS de grootste bankgroep van Zwitsersland, boekte over het derde kwartaal een nettowinst van 2,35 miljard Zwitserse frank (1,56 miljard euro) of 1,81 Zwitserse frank per aandeel. Dat is meteen de helft beter dan analisten hadden verwacht, want zij rekenden op een winst van 1,6 miljard Zwitserse frank.
    www.tijd.be/nieuws/ondernemingen_fina...
13. [verwijderd] 22 oktober 2009 18:28

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    30 Year Fixed Mortgage Rate Rises to 5 Percent
    
    | 22 Oct 2009 | 10:53 AM ET
    
    U.S. 30-year fixed-rate mortgages, the most widely used loan, rose for a second straight week, hitting a key level that may cut into demand.
    
    The rates averaged 5.00 percent for the week ending Oct. 22, up from the previous week's 4.92 percent, according to a survey released Thursday by home funding company Freddie Mac.
    
    Many industry experts view 5 percent as a key psychological level. When rates drop below it, home loan demand tends to rise, while the opposite holds true when rates rise.
    
    Still, mortgage rates remain low. A year ago, 30-year mortgage rates averaged 6.04 percent. The rate is significantly higher than the record low of 4.78 percent set in the week ended April 2.
    
    "Following bond yields, long-term mortgages rates edged up slightly this week," Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement. Mortgage rates are linked to both Treasury and MBS yields.
    
    Freddie Mac started the survey in 1971. Separately, the Mortgage Bankers Association said home loan demand fell last week for a second straight week. For rates table, double-click
    
    Freddie Mac said the 15-year fixed-rate mortgage averaged 4.43 percent in the latest week, up from 4.37 percent the prior week. For rates table, double-click on
    
    One-year adjustable-rate mortgages (ARMs), were 4.54 percent, down from 4.60 percent last week. Freddie Mac said the "5/1" ARM, set at a fixed rate for five years and adjustable each following year, was 4.40 percent, compared with 4.38 percent a week earlier.
    
    A year ago, 15-year mortgages averaged 5.72 percent, the one-year ARM 5.23 percent and the 5/1 ARM 6.06 percent. Reuters & CNBC
14. [verwijderd] 22 oktober 2009 23:14

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    Fed's Evans sees economy expanding 3%
15. [verwijderd] 22 oktober 2009 23:18

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    Netflix posts higher quarterly profit
    Reuters - Susan Zeidler, Andre Grenon - ‎33 minutes ago‎
    LOS ANGELES (Reuters) - Online DVD rental company Netflix Inc (NFLX.O) posted a higher quarterly profit on Thursday and raised its full-year forecast, citing continued strong subscriber growth.
16. [verwijderd] 22 oktober 2009 23:19

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    Capital One Financial Q3 Profit Rises - Quick Facts
    RTT News - ‎55 minutes ago‎
    (rttnews) - Capital One Financial Corp. (COF: News ) announced that its third-quarter net income was $425.6 million, or $0.94 per common share, compared to $374.1 million, or $1.00 per common share in the year ago-quarter.
17. [verwijderd] 22 oktober 2009 23:19

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    American Express Earnings Beat Estimates Amid Fewer Credit-Card Defaults
    Bloomberg - Peter Eichenbaum - ‎37 minutes ago‎
    Oct. 22 (Bloomberg) -- American Express Co., the biggest US credit-card issuer by purchases, posted profit that exceeded most analysts' estimates as card spending rebounded and fewer customers defaulted.
18. [verwijderd] 22 oktober 2009 23:20

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    Walmart Expects Sales Growth to Speed Up on Store Expansion
    Bloomberg - Chris Burritt - ‎1 hour ago‎
    Oct. 22 (Bloomberg) -- Wal-Mart Stores Inc., the world's biggest retailer, expects sales growth to accelerate next year as it expands stores globally.
19. [verwijderd] 22 oktober 2009 23:22

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    Stocks rise as financial, consumer stocks gain
    
    By TIM PARADIS (AP) – 1 hour ago
    
    NEW YORK — Investors encouraged by a good batch of earnings reports and forecasts jumped back into stocks after a two-day slide.
    
    Stocks posted big gains Thursday after Wal-Mart Stores Inc. said it expects sales to grow this year and increase at a faster pace next year. At the same time, easing worries about loan losses at some banks made financial stocks look attractive.
    
    The Dow Jones industrial average jumped 132 points and logged the biggest gains of major indexes after Wal-Mart's forecast and as a number of companies that make up the indicator reported earnings that surpassed expectations.
    
    The technology-heavy Nasdaq composite index lagged after a disappointing forecast from online retailer eBay Inc. but still ended higher.
    
    The market's climb comes a day after a late slide pushed major indexes lower. Lingering concerns over whether investors had been too optimistic about an economic rebound fed into the drop.
    
    Consumer stocks rose after Wal-Mart said it expects sales to increase 1 to 2 percent for the current fiscal year and 4 to 6 percent for next year. The nation's largest retailer also said it would focus on emerging markets when opening stores. Meanwhile, clothing retailer J. Crew Group Inc. raised its earnings forecast because of stronger sales and profit margins.
    
    Investors were also encouraged by earnings reports from the banks PNC Financial Services Group Inc. and Fifth Third Bancorp, which each said the number of bad loans aren't mounting as fast as they had been. That helped to push financial stocks higher.
    
    Dow components 3M Co., Travelers Cos., AT&T Inc. and McDonald's Corp. posted stronger results than analysts had forecast.
    
    Adam Gould, senior portfolio manager at Direxion Funds in New York, said the market's bounce on the Wal-Mart forecast illustrates how difficult it is to keep stocks down and allow those who missed the seven-month run to get stocks at lower prices.
    
    "People have wanted to see some type of correction but whenever any earnings come out and beat and whenever any economic news comes out that is decent, the market rallies," he said.
    
    According to preliminary calculations, the Dow rose 131.95, or 1.3 percent, to 10,081.31.
    
    The broader Standard & Poor's 500 index rose 11.51, or 1.1 percent, to 1,092.91. The Nasdaq rose 14.56, or 0.7 percent, to 2,165.29.
    
    Two stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1.3 billion shares compared with 1.4 billion Wednesday.
    The Associated Press. All rights reserved.
20. [verwijderd] 22 oktober 2009 23:24

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    Amazon.com reported better-than-expected third quarter profit on Thursday and stronger sales outlook, sending shares up in afternoon trading.
    
    The company gave a fourth-quarter revenue projection of between $8.13 billion to $9.13 billion.
    
    The online retailer earned 45 cents a share in its third quarter on sales of $5.45 billion, compared with 27 cents a share on sales of $4.26 billion on the same period last year.