Mattel Inc., the largest U.S. toymaker, said Friday that cost-cutting, price increases that have stuck and low inventory helped its third-quarter profit fall just 3 percent despite a steeper drop in sales.
Investors applauded the company’s focus and sent shares up 5 percent, briefly touching a 52-week high.
The maker of Hot Wheels and American Girl dolls [...]
Archive for October, 2009
Mattel earnings fall; economy takes toll on Barbie
October 16th, 2009 by Financial Writer
Tags: dollars, economy, inventory, investors
more...Dollar falls to 14-month euro low
October 15th, 2009 by Financial Writer
The dollar hit a 14-month low against the euro Thursday on fears that US interest rates would remain super-low for a long time and as a stock market rally sparked appetite for riskier assets, traders said.
At 0615 GMT, the European single currency reached 1.4968 dollars, the highest level since August 2008. The euro later pulled [...]
Tags: borrowing costs, dollar, investors, recession, unemployment
World stocks slip ahead of earnings
October 14th, 2009 by Financial Writer
World stocks fell from this week’s one-year high on Tuesday as investors grew cautious ahead of major third-quarter U.S. corporate earnings, while risk-hungry investors drove the Australian dollar to a 14-month peak.
Key results due this week include Intel (INTC.L), Goldman Sachs (GS.N) and General Electric (GE.N). Intel is expected to beat forecasts with its results [...]
Tags: banks, investment, investors, money
Business travel survey shows budgets for 2010 remain tight
October 13th, 2009 by Financial Writer
Matt Bush, a human resources executive, estimates his travel budget will jump 30% in 2010.
During any other year, that might signal a business boom. But few things seem normal in a year when the travel industry has been turned upside down by companies severely cutting back.
Bush’s double-digit increase will follow a 50% cut in his [...]
Tags: business, business travelers, recession, travel industry
U.S. must lead global economic recovery
October 12th, 2009 by Financial Writer
U.S. Secretary of State Hillary Clinton, visiting recession-bound Ireland, said on Sunday the United States was working hard to fix its own economy so it could propel growth in the rest of the world.
“We’re very conscious of the fact that the United States must right its own economic boat in order to lead the global [...]
Tags: economy, global crisis, global economic, recession, united states
Aug. trade deficit narrows unexpectedly to $30.7B
October 9th, 2009 by Financial Writer
The U.S. trade deficit unexpectedly narrowed in August as exports posted a small gain, while imports fell on a big drop in demand for foreign oil.
The Commerce Department said Friday that the trade deficit declined 3.5 percent to $30.7 billion, surprising economists who had expected higher oil prices to push the imbalance to $33 billion. [...]
Tags: economists, exports, Global Economy, obama, oil, recession
U.S. still seen in recession, may last until 2010
October 7th, 2009 by Financial Writer
U.S. finance executives believe the American economy is still in recession, despite signs growth may have resumed in the third quarter, a survey showed on Tuesday.
The survey conducted by the Association for Financial Professionals also showed that many executives in the financial sector did not expect their organizations to resume hiring or capital spending in [...]
Tags: bank, economic, economy, finance, lending, recession
Holiday sales: Tough sledding ahead
October 6th, 2009 by Financial Writer
Santa’s load will be lighter once again, with crucial year-end holiday sales expected to decline for a second year in a row, according to an industry forecast Tuesday.
Although many Americans have had a year to absorb shocks to the economy and to their own household budgets, the National Retail Federation (NRF) said continued job losses [...]
Tags: economy, Global Economy, money, sales
Investors brace for a rocky ride
October 5th, 2009 by Financial Writer
The stock advance has hit some resistance in the last two weeks and it’s only going to get tougher as the third quarter reporting period gets underway.
Since hitting rally highs nearly two weeks ago, the broad S&P 500 index has lost 4.3% as investors have sorted through a spate of manufacturing, consumer and jobs reports [...]
Tags: employers, investors, monetary, recession, unemployment
Bad news: Jobs market getting worse
October 2nd, 2009 by Financial Writer
Employers cut more jobs from their payrolls in September and the unemployment rate hit another 26-year high, as the long-battered U.S. labor market took an unexpected turn for the worse, according to a government report Friday.
The Labor Department said there was a net loss of 263,000 jobs in the month, up from a revised loss [...]
Tags: economists, employers, jobs, unemployment
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