World economy talk

[uls]

good morning

[Ry_Tower]

^ Lahat decline, what's happening? Grabe yung volume ng transactions eh.

[uls]

many companies' earnings are failing to meet expectations

------

McDonald's press release:

OAK BROOK, IL - McDonald's Corporation today announced results for the third quarter ended September 30, 2012.
In constant currencies, the Company posted higher revenues and earnings per share compared with the prior year while operating income was flat. On an as reported basis, revenues were relatively flat and operating income and earnings per share decreased, reflecting the impact of foreign currency translation. “While our sales momentum and current financial results reflect today's challenging conditions, we continue to see significant long-term opportunities for brand McDonald's and remain confident in the underlying strength of our business model,” said McDonald's Chief Executive Officer Don Thompson. “We have the right plans in place to drive long-term profitable growth along with the experience and alignment throughout the McDonald's System to navigate the current environment. We expect near-term top- and bottom-line growth to remain pressured as we focus on driving guest traffic and market share by leveraging our strategies and competitive advantages in response to the global economic, operating and competitive challenges. As we begin fourth quarter, October's global comparable sales are currently trending negative."

[Ry_Tower]

Yari na naman China sa US. What next? dami nadin pala na-file ni Obama sa WTO na accusations.

BBC News - China tariffs on US steel: WTO rejects Beijing's appeal

[uls]

good morning

Japan trade balance -- net exporter is now net importer

Japan Sept exports fall 10.3 pct year/year - MOF | Reuters

TOKYO, Oct 22 (Reuters) - Japan's exports fell 10.3 percent
in September from a year earlier, down for the fourth straight
month, Ministry of Finance data showed on Monday, suggesting
anti-Japanese sentiment in China over a territorial spat was
adding to a slump in shipments.

The fall in exports, a key driver of the world's
third-biggest economy, was bigger than economists' median
forecast for a 9.6 percent drop and followed a 5.8 percent
annual fall in August, the data showed.

Exports to China, the top destination for Japanese
shipments, fell 14.1 percent in the year to September. Exports
to Europe fell 21.1 percent, the data showed.

The trade balance came to a deficit of 558.6 billion yen
($7.04 billion) in September, against a 570.1 billion yen
deficit projected by economists. It was the third straight month
of deficits.

Imports rose 4.1 percent from a year earlier.

[Monseratto]

good morning

Japan trade balance -- net exporter is now net importer

Big, big drop from Europe (21%) and China (14.1%), but the the China drop is getting the most attention. It will only grow even worst when austerity start to bite in Europe and the Anti-Japanese sentiments increase in China.... expect another gov't change.

[uls]

Without providing... | Facebook

Without providing specific details, SMC pres. Ramon Ang said they made $5bn bid for an unnamed Asian firm that is seen to be finalized this year.

[mark.1]

World economy has damaged badly after recession. The unemployment has spread all over the world due to recession. But now some big countries has recovered from bad economy and they are now in good position. Many investors are moving towards those companies in which there are good business facilities.

[Ry_Tower]

^hehe, may pinadala China na poster dito ah

Or spammer?

[uls]

haha what the hell was that?

anyway...

Caterpillar earnings report tonight

important yan coz Caterpillar's performance is an indicator of the health of the global economy

[uls]

Caterpillar slashes forecast again, sees weaker economy | Reuters

(Reuters) - Caterpillar Inc, the world's largest maker of tractors and excavators, slashed its 2012 forecast for the second time this year and warned the global economy was slowing faster than it had expected.

The caution sign was the latest in a string of comments from multinational manufacturers, including General Electric Co and Honeywell International Inc, that the economic recovery remains tenuous and tepid at best.

Caterpillar's retail dealers are selling off inventories, rather than buying new machines, forcing the company to idle some production at plants in Illinois, executives said on Monday.

[Ry_Tower]

More bad news.

BBC News - Germany may see economy shrink in fourth quarter

[uls]

Goldman Sachs buy rating on AAPL $810 price target



Peabody Energy Q3 earnings beat estimates

[uls]

(Reuters) - The U.S. Food and Drug Administration said on Monday that it has received reports of five deaths and a heart attack since 2009 that may be associated with Monster Energy Drink.

[Ry_Tower]

^Tinitira ata mga energy drinks. Local news naman dito is cobra naman source ng heart attacks.

Kaya bagsak din bentahan ng cobra drink dito sa province namin.

[Monseratto]

The kid at the center of the case had an existing heart problem and had drinking binge for TWO DAYS of the high caffeine drink. The girl died due to too much caffeine. How stupid are americans??? It's like taking a drug overdose and suing the drug company.

[Ry_Tower]

Another blow to RIM. http://money.cnn.com/2012/10/22/tech...html?iid=HP_LN

RIM wouldn't talk about the effect of the fast-shrinking federal usage on its business. Rather, it pointed out that the company still has a million government customers in North America, some 400,000 of whom have upgraded their BlackBerrys in the past year.

"Government organizations globally have relied on the security of the BlackBerry solution for over a decade," said Paul Lucier, vice president of RIM government solutions in a statement.

Carl Howe, a technology analyst with Yankee Group, said RIM can weather the losses because of its reputation of maintaining a highly secure system.

"For anyone who is really interested in high security systems, BlackBerry really remains the gold standard," Howe said.

This kind of thinking is exactly whats making them suffer. Instead of accepting mistakes and trying very hard to correct it, they find excuses.

[Monseratto]

Another blow to RIM. Research In Motion loses ground in Washington - Oct. 22, 2012

This kind of thinking is exactly whats making them suffer. Instead of accepting mistakes and trying very hard to correct it, they find excuses.

Just following the Palm Pilots out the door and into oblivion...

[uls]

Mulberry warns on year profit | Reuters

(Reuters) - Mulberry (MUL.L) has become the latest luxury brand to warn on profit, blaming both lower-than-expected international retail sales and a shortfall on wholesale revenue.

Mulberry Stock Drops After Pretax Profit Misses Estimates - Bloomberg

Among the reasons for the decline were a strategic decision to trim international wholesale accounts and a tougher climate in Asia that led to “cautious ordering,” Mulberry said.

[Monseratto]

Another American industrial giant reveals more dire straits...

(Reuters) - DuPont (DD.N) slashed its annual forecast, reported a lower-than-expected quarterly profit and announced 1,500 job cuts on Tuesday, bleak signs that demand for the chemical company's lucrative paint and solar products is slipping around the world.

Shares of DuPont, a member of the Dow Jones industrial average .DJIA, fell nearly 7 percent in premarket trading.

The job cuts by the company, which also makes Kevlar bulletproof fiber and Corian countertops, marks one of the more extreme reactions to slipping demand and global economic uncertainty so far in this earnings season.

DuPont's sales fell 9 percent to $7.4 billion in the third quarter, while analysts on average had expected $8.15 billion.

Demand fell most sharply in Asia and Europe, hurt by higher prices for titanium dioxide, a key pigment used to make paint and a market DuPont dominates, and pastes used to make solar panels.

Trying to reassure Wall Street, DuPont Chief Executive Officer Ellen Kullman said executives were "addressing these challenges now to position ourselves for improved performance."

The company posted net income of $10 million, or a penny per share, compared with $452 million, or 48 cents per share, a year earlier.

Excluding one-time items, DuPont earned 32 cents per share, while analysts on average had expected 46 cents, according to Thomson Reuters I/B/E/S.

The company plans to lay off 1,500 employees around the world, about 2 percent of its 70,000-person workforce.

Roughly half of the layoffs are due to the weak economy, and DuPont took a one-time charge of $242 million to pay out severance to workers.

The other half of the layoffs are connected to DuPont's August sale of its slow-growing car paint business to investment firm Carlyle Group LP (CG.O) for $4.9 billion.

Carlyle did not need some legal, human resource and other support staff previously used by DuPont to manage the car paint business. DuPont took a $152 million charge in the third quarter for its plan to lay off some of those employees.

DuPont cut its 2012 profit outlook to a range of $3.25 to $3.30 per share, below the $3.93 that Wall Street has forecast.

The company had expected to earn the equivalent of at least $3.79 per share for the year. Its previous forecast of at least $4.20, issued before the deal to sell the car paint business, included that unit's expected profit of at least 41 cents.

Shares of DuPont were down 6.6 percent at $46.49 in trading before the market opened.

(Reporting by Ernest Scheyder in New York; Editing by Lisa Von Ahn)