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Sensex in India Plunges 1.6% on Global Worries

Mukesh Buch
23 Sep, 2014
New York City

Bajaj Electricals won contract worth Rs.108.63 crore. EIL secured a consultancy contract from Assam Petrochemicals. IFCI divest its stake in Tourism Finance Corp. Sunil Hitech forecasted revenue of fiscal 2015 of about Rs 2,200 crore.

Wall Street Follows World Markets Decline after Commodities Rout

Nichole Harper
22 Sep, 2014
New York City

World markets declined sharply after a selloff in Asian markets on weak commodities prices. Chinese finance minister dashed all hopes of additional stimulus and coal, iron ore, crude oil and precious metals dropped to multi-year lows.

Nikkei and Asian Markets Slide, Yen Hovers Near 6-year Low

Hiruki Nakamura
22 Sep, 2014
New York City

The yen rebounded from its six-year low but market indexes extended losses after shippers, exporters and resource companies led the decliners in Tokyo trading. SoftBank plunged nearly 5% after investors preferred to invest directly in Alibaba Group Holdings.

Auxilium Pharma Rejects $2.2 B Offer, AutoZone Net Soars 7%

Mukesh Buch
22 Sep, 2014
New York City

AutoZone net soared 7% on 5% increase of revenue. Auxilium Pharma rejected $2.2 billion offer from Endo Intl. CARBO Ceramics tumbled after unexpected sales outlook. Neogen net and revenue surged.

Merck Acquires Sigma-Aldrich for

Nigel Thomas
22 Sep, 2014
New York City

Sweden based Investor AB agreed to buy additional shares of Wartsila for

Another Downturn in Commodities Drageed Australian and Asian Markets

Marcus Jacob
22 Sep, 2014
New York City

Australian indexes plunged 1.3% and erased almost all the gains in the year so far after spot iron ore and coal price took another dive. Australian dollar traded weaker and resource companies led the decliners.

India Movers: Bharti Infratel, Crompton Greaves, JK Tyre, L&T, PNB

Mukesh Buch
22 Sep, 2014
New York City

Bharti Infratel dropped on report that KKR & Co will divest its entire stake. Crompton Greaves selected by the electric utility company to manufacture smart meters. JK Tyre is expected to approve a stock-split. L&T won new orders worth Rs 1,577 crore.

Concur Acquired By SAP for $7.3 B; Hyatt Sell 38 Hotels

Mukesh Buch
19 Sep, 2014
New York City

Concur agreed to acquire by Germany-based SAP for $7.3 billion. Hyatt affiliates sell 38 hotels to Lone Star Funds for about $590 million. Marcus net declined 7%. Oracle net was flat but revenue jumped 3%. Red Hat profit jumped 15%. Tibco Software net tumbled 88%.

Tech Stocks on Wall Street Gain on Alibaba Debut Surge of 45%

Nichole Harper
19 Sep, 2014
New York City

Stocks on Wall Street extended gains for the fifth day in a row and Internet stocks led the gainers. China based e-commerce platform operator, Alibaba Group soared 45% on its first day of trading.

Arkema Offers

Nigel Thomas
19 Sep, 2014
New York City

Aviva agreed to sell its stake of CxG Aviva to NCG Banco for

Weaker Yen Powers Japan Stocks to Multi-Year High

Hiruki Nakamura
19 Sep, 2014
New York City

Weaker yen drove stock indexes to a new multi-year high in Tokyo today. The Nikkei Stock Average gained 1.6% on Friday and jumped 4.2% in the week after the yen dropped past 109 against the dollar. Sony Corp said it will not pay annual dividend for the first time since 1958.

Australian Stocks Trim Weekly Losses, Bega Wins $100 M Contract in China

Marcus Jacob
19 Sep, 2014
New York City

Australian stocks closed higher and the Aussie dollar edged lower. For the week, ASX 200 index lost 1.7%. Bega Cheese signed a five-year contract worth $100 million with China based Chongqing General Trading Co.

Sensex Flirts Record Level, Weekly Rise of 0.2%

Mukesh Buch
19 Sep, 2014
New York City

Bharti Airtel may face fines for spectrum cost and migration fee. Biocon divested 10% stake in Syngene International. GTL Infra signed a telecom tower sharing contract with Reliance Jio.

Fed Outlook Lifts U.S. Stocks on Second Day, Commodities Drop

Nichole Harper
18 Sep, 2014
New York City

Stocks on Wall Street extended gains for the second day in a row after the Fed pledged to keep rates low for a considerable period after the end of bond buying program next month. The dollar against most currencies and gold and oil and other resource materials traded at multi-year low.

ConAgra, Clarcor, Rite Aid Profit Surge; Red Hat Acquires FeedHenry

Mukesh Buch
18 Sep, 2014
New York City

ConAgra profit surged 229% on flat revenues. Clarcor net climbed 45%. IHS net doubled on 16% increase of revenue and raised fiscal outlook. Rite Aid net soared 290%. Red Hat agreed to acquire the mobile application provider FeedHenry. United Natural Foods net rose 4%.

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