| From East to West, panic grips the world’s investors
After the carnage on global markets on Black Monday, Japan and Australia were the first powerhouse economies to see the dawn of Tuesday morning. While American markets had taken Monday off for Martin Luther King Day, the panic gripping global markets had continued to wreak havoc.
Yesterday, as US traders slept, the bloody trading began anew on the other side of the world. By midnight GMT Australia’s markets had been open an hour. Investors’ rush for the door crashed the website of the country’s leading online share broker, CommSec, as the market started an immediate downward spiral. The stock market’s fall of nearly 3 per cent on Monday looked timid as it raced towards its biggest one-day slide in 20 years. Hans Kunnen, the head of investment markets research for Colonial First State, said: "Judging by the mood of the market today, the bears are certainly winning."
However, what the Asian markets did not know, as they started their downward spiral, was that in America the members of the Federal Reserve were calling each other.
TD Ameritrade 1Q profit up 65 percent
OMAHA, Neb. - A surge in stock trading last fall helped online brokerage TD Ameritrade Holding Corp. generate a 65 percent increase in its quarterly net income. The Omaha-based company said Thursday that asset-based revenue also continued to grow and accounted for more than half of its revenue in the October-December period. But some analysts questioned whether Ameritrade could replicate its results, and the company's stock suffered as concerns about the ongoing credit crisis hurt stock prices across the market. Ameritrade's shares fell $1.65, or 8.7 percent, to $17.34 Thursday. Ameritrade reported $240.8 million in net income, or 40 cents per share, in the quarter that ended Dec. 31. That was up from $145.6 million, or 24 cents per share, in the same period a year ago.
Overstock.com (OSTK) Announces $20M Stock Buyback
Overstock.com, Inc. (Nasdaq: OSTK) today announced that its Board of Directors has authorized a $20 million two-year repurchase program which will allow Overstock.com to buyback shares of its common stock and/or its Convertible Senior Notes. The shares may be repurchased from time to time in open market transactions or otherwise, subject to market conditions and other factors, including blackout periods imposed by Overstock.com, during which the Company prohibits its insiders and employees from trading in the Company's stock. Overstock.com, Inc. operates as an online retailer that offer discount brand name merchandise for sale primarily over the Internet. Related Categories Stock Buybacks Stocks Mentioned .
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