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Market Update

Big Lots, Genesco, OmniVision Climb; Infoblox, Lions Gate, Splunk Plunge

Mukesh Buch
30 May, 2014
New York City

Big Lots net plunged 70%. Genesco net fell 3% but revenue jumped 6%. Guess net swung to a loss on 5% decline in sales. Infoblox tumbled after net loss widened. Lions Gate plunged 12%. OmniVision profit surged 70%. Splunk net loss widened.

Europe Earnings: Fenner, Salamander Energy, Urban&Civic, Westminster

Nigel Thomas
30 May, 2014
New York City

Fenner plunged on earnings outlook. Salamander Energy climbed on Spanish takeover speculation. Urban&Civic net swung to a loss. Westminster Group said net loss in the year widened.

Reported Inflation in Japan Picks Up, Nikkei Falls 0.3%

Hiruki Nakamura
30 May, 2014
New York City

Stocks in Tokyo slipped on Friday and for the week the Nikkei Stock Average increased 1.2%. The yen held firm. The latest measure of inflation tracked by the government in April showed the largest jump since 1991.

Second Weekly Decline in Iron Prices, Australian Stocks Falter

Marcus Jacob
30 May, 2014
New York City

Australian market indexes declined on Friday and for the week closed unchanged after spot iron ore prices traded below $100 per ton for the second week in a row. The RBA said total credit increased 0.5% in April. Lynas Corp completed $40 million stock offering.

India Movers: BHEL, Cipla, DLF, L&T, M&M, ONGC, Sun Pharma, Tata

Mukesh Buch
30 May, 2014
New York City

BHEL net and revenue plunged. Cipla profit dropped 6%. DLF net swung to profit. L&T net surged 69%. M&M profit edged up. ONGC net surged 44%. Power Grid Corp profit jumped. Sun Pharma profit soared 57%. Tata Chemicals net loss widened and Tata Motor net rose 0.7%.

Abercrombie, Palo Alto, Sanderson Farms Jump; Tech Data Drops

Mukesh Buch
29 May, 2014
New York City

Abercrombie net loss widened after sales fell. Costco net rose 3% and sales climbed 7%. Chico''s profit jumped 6%. Palo Alto net loss widened but revenue soared 49%. Pall net surged 21%. Sanderson Farms profit climbed 14%. Tech Data net plunged 24%.

Europe Earnings: Kingfisher, Man Group, Paypoint, Severn Trent, Tesco

Nigel Thomas
29 May, 2014
New York City

Helical Bar profit and revenues surged. Kingfisher net soared 19% to

Stocks on Wall Street Zigzag, Weekly Jobless Claims Fall

Nichole Harper
29 May, 2014
New York City

U.S. stocks opened higher and weekly jobless claims declined 27,000. The U.S. economy shrank at annual pace of 1% in the second estimate after the impact of winter freeze was deeper than expected.

U.S. GDP Contracts on Deeper Winter Slowdown

Mukesh Buch
29 May, 2014
New York City

The U.S. gross domestic product in the first three months on 2014 declined at 1% annual compared to first estimate of 0.1% increase, the Commerce Department reported today.

Retail Sales in Japan Drop, Mitsubishi UFJ Acquires Fund Administrator

Hiruki Nakamura
29 May, 2014
New York City

The Nikkei Stocks Average gained in thin trading and the yen held firm below 102 against the U.S. dollar. April retail sales plunged 13.7%, after the announced sales tax increase brought forward sales in March. Mitsubishi UFJ agreed to acquire Bermuda based hedge fund administrator.

Iron Prices Drop to 20-month Low, Australian New Home Sales Rise 2.9%

Marcus Jacob
29 May, 2014
New York City

Australian market indexes closed lower and investors turned cautious after spot iron ore price dropped below $97 a ton. Australian private capital expenditure declined 4.2% and new home sales in April increased 2.9%.

India Movers: BPCL, Bajaj, Coal India, Escorts, Hero, Hindalco, IOC, Tata

Mukesh Buch
29 May, 2014
New York City

BPCL net declined 15% and IOC net plunged 35% despite higher government subsidies. Bajaj Electricals net swung to a loss. Coal India net plunged. Hero Motocorp profit slipped. Hindalco net declined 48%. NALCO profit dropped 30%.

Valeant Lift Allergan Offer and Sell its Skin Care Rights to Nestle

Mukesh Buch
28 May, 2014
New York City

DSW plunged on weak quarterly results. Toll Brothers quarterly net surged nearly three-fold. Valeant lifted takeover offer for Allergan and sold its skin care products right to Nestle for $1.4 billion in cash. Workday net loss widened.

S&P 500 Index at Record Intra-day High, Valeant Lifts Allergan Bid

Nichole Harper
28 May, 2014
New York City

U.S. stocks traded near flat line and investors looked ahead to GDP report tomorrow. Valeant lifted its offer for Allergan to $50 billion and increased cash portion. German unemployment increased for the first time in six months in May.

Europe Earnings: De La Rue, Glaxo, Origin Enterprises, Weir

Nigel Thomas
28 May, 2014
New York City

De La Rue profit climbed 25% to