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Market Update

India Movers: Bombay Rayon, Jindal, Jocil, Precot Meridian, Vadilal

Mukesh Buch
06 Jun, 2014
New York City

Bombay Rayon net surged 165% but sales declined 12%. Jindal Steel & Power plans to invest Rs 5,600 crore to expand its steel capacity. Jocil profit climbed 188%. Sakthi Finance net dropped 6%. Precot Meridian net plunged 54%. Vadilal net loss narrowed.

ECB in Historic Step Lowered Deposit Rate to Negative

Nigel Thomas
05 Jun, 2014
New York City

European Central Bank took a historic step and offered negative interest rate and other non-traditional measures to spur the euro zone economy.

Ciena, Smucker, Joy Global, Verint Climb; PVH Declines

Mukesh Buch
05 Jun, 2014
New York City

Ciena surged after net loss narrowed and sales increaed 10%. J.M. Smucker net and revenue declined. Joy Global net tumbled 59% and sales plunged 32%. Navistar net loss narrowed. PVH net swung to profit. UTi Worldwide loss widened. Verint net swung to profit.

U.S. Indexes Advance on ECB Liquidity Measures

Nichole Harper
05 Jun, 2014
New York City

Stocks on Wall Street gained after European Central Bank unveiled historic measures to revive flagging economy. European markets traded near six-year highs. Softbank is nearing a deal to acquire T-Mobile US Inc for $40 billion.

Europe Earnings: Asos, easyJet, Lloyds, Smith & Nephew, Wincanton

Nigel Thomas
05 Jun, 2014
New York City

Asos tumbled despite total revenue soared 26% to

Japan Rally Extends to Tenth Day, Softbank in Focus

Hiruki Nakamura
05 Jun, 2014
New York City

Softbank is nearing a deal to merge its U.S. based Sprint Corp with T-Mobile US Inc. At $40 a share, T-Mobile is valued at $31 billion and after the merger, Deutsche Telekom will control 15% stake in the merged wireless carrier.

Australian Stocks Ease, Oil Search Lifts Annual Production Outlook

Marcus Jacob
05 Jun, 2014
New York City

Australian stocks traded lower and the Aussie dollar held firm near its high in the year so far. Oil Search lifted its annual production outlook. Graincorp Ltd plans to invest $200 million to enhance storage network.

Idea Cellular in India to Raise $500 million

Mukesh Buch
05 Jun, 2014
New York City

Idea plans to raise $500 million through a stock offering. Jagran Prakashan net soared 51%. M D Overseas net swung to a loss. Piramal acquired 10% stake in Shriram City Union Finance. SML Isuzu May sales jumped.

KKR Acquires Internet Brands for $1.1 B

Mukesh Buch
03 Jun, 2014
New York City

U.S. auto sales increased 11% in May and Chrysler sales in the month surged 17%, Ford sales rose 3% and GM sales jumped 13%. Toyota sales soared 17%. KKR agreed to buy Internet Brands $1.1 billion.

KKR and CVC Plan to Acquire Holcim and Lafarge Units

Mukesh Buch
04 Jun, 2014
New York City

ABM Industries net declined 21% but revenue increased 5%. Ambarella net jumped 6% but sales soared 21%. Ascena Retail net rose 3% after sales edged up. Cyberonics profit surged 60% and revenue climbed 9%.

Europe Earnings: Dufry, Lafarge, Repsol, Tesco, Volkswagen

Nigel Thomas
04 Jun, 2014
New York City

Dufry agreed to acquire Nuance Group for 1.55 billion Swiss francs. Lafarge will merge its South Africa unit with Lafarge Wapco. Pemex sold its 7.9% stake in Repsol worth

U.S. Trade Gap at a 2-year High in April

Mukesh Buch
04 Jun, 2014
New York City

U.S. exports declined 0.2% to $193.3 billion in April, a decline of $300 million from March and imports increased 1.2% or $2.7 billion to $240.6 billion, the Commerce Department said today.

U.S. and Global Markets Await ECB Action

Nichole Harper
04 Jun, 2014
New York City

U.S. stocks traded sideways and a measure of productivity showed a sharp decline in the first quarter. U.S. trade deficit widened to a 2-year high on higher imports of foods, auto, electronic products and crude oil.

Europe Earnings: Pennon Group, Tesco, Wolseley

Nigel Thomas
03 Jun, 2014
New York City

Pennon Group profit surged to

Tokyo Stocks in Longest Rally in Five Years

Hiruki Nakamura
04 Jun, 2014
New York City

Stocks in Tokyo closed higher for the tenth day in a row in a longest rally in five years as investors focused on rising dollar and the monetary stimulus in Europe. Dai-ichi Life confirmed the purchase of U.S. based protective Life for $5.7 billion.