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Market Update

China Weakness Drags Australian Stocks, Macquarie Lifts Outlook

Marcus Jacob
24 Mar, 2014
New York City

Australian stocks traded lower after a private survey in China indicated larger than expected weakness in manufacturing sector. G8 Education Limited acquired Sterling Early Education for $228 million. Macquarie Group Limited lifted its annual earnings outlook.

India Movers: BHEL, Federal Bank, Geometric, Reliance, TRIL, Trent

Mukesh Buch
24 Mar, 2014
New York City

BHEL secured a large contract worth Rs 3,000 crore from NTPC. Federal Bank received approvals to increase foreign investment stake up to 74%. IIFL completed sale of its stake in two Sri Lankan subsidiaries. RIL increase gas price from April.

Alibaba to Raise $15 B in IPO; Sears, CBS, Chesapeake to Spin Off Units

Mukesh Buch
17 Mar, 2014
New York City

CBS plans to spin off its outdoor advertising unit. CHS agreed to acquire selected Canadian retail assets of Crop Production Services. Chesapeake to separate its oilfield services business. Sears board approved to spin-off its Lands'' End business.

Toyota Temporarily Shuts India Unit, Alibaba to List in New York

Hiruki Nakamura
17 Mar, 2014
New York City

Stocks in Tokyo traded lower after investors focused on rising tensions in Ukraine. Crimea voted to split from Ukraine with 97% of voting in favor. EU foreign ministers impose sanctions and travel bans on 21 Russians in retaliation. Alibaba plans to list its stock in New York.

Australian Vehicle Sales Fall, BHP Reaffirms Dividend Plan

Marcus Jacob
17 Mar, 2014
New York City

Australian market indexes turned lower after choppy trading on the rising tensions in Crimean peninsula in Ukraine. Australian vehicle sales in February declined 3.5% from a year ago February 93,000. BHP reaffirmed its plan to return $6 billion as dividend in 2015.

Europe Earnings: Allianz, Bourbon, Linde, RWE, UniCredit, Vodafone

Nigel Thomas
17 Mar, 2014
New York City

Allianz agreed to acquire insurance business of UnipolSai for

FactSet Rises, DSW Falls; Hertz to Spin Off Equipment Rental Unit

Mukesh Buch
18 Mar, 2014
New York City

DSW net jumped 4% but sales dropped 4%. FactSet net climbed 18% to $52 million and lifted outlook. FutureFuel surged after profit and sales climbed. GameStop dropped after Wal-Mart launched a plan to accept used videogames in exchange for store gift cards. Hertz loss narrowed.

Europe Earnings: Antofagasta, Asos, Cairn Energy, J Sainsbury, Kuoni

Nigel Thomas
18 Mar, 2014
New York City

Antofagasta net tumbled 36% on revenues drop of 11%. Asos, the U.K. based online retailer said revenue in two-month to February surged less than expected 26%. Cairn Energy said net in the year swung to a loss. J Sainsbury said sales dropped. Kuoni net swung to a profit.

India Movers: Amtek India, Infosys, Polaris Financial, SBI, UBI, Zensar

Mukesh Buch
18 Mar, 2014
New York City

Amtek India acquired Germany-based Kuepper Group. Polaris Financial decided to spin off its products business. Zensar won multimillion dollar deals in the United States and Europe.

RBA Reiterated Rate Outlook, David Jones to Review Myer Merger

Marcus Jacob
18 Mar, 2014
New York City

Australian market indexes closed higher after the release of latest RBA minutes of meeting. The policy committee reiterated it low interest rate outlook for the foreseeable future and cited weak labor market conditions and weakening foreign exchange rates.

Nikkei Rebounds 0.9%, Yean Eases

Hiruki Nakamura
18 Mar, 2014
New York City

Market indexes in Tokyo gained 0.9% after the yen eased against the dollar. The Nikkei trimmed the losses in the year so far to 12%, the worst decline among the largest 25 world markets. Sony commenced its worldwide job reduction plan.

Media General Acquires LIN Media for $1.6 Billion

Devan Biswas
21 Mar, 2014
New York City

Media General agreed to a $1.6 billion deal with LIN Media and expands its reach to 25% of U.S. households and becomes the second-largest pure-play TV network.

Adobe, General Mills, KB Home, Vera Bradley Rise; Oracle Falls

Mukesh Buch
19 Mar, 2014
New York City

Adobe net declined 28%. FedEx net climbed 5% but lowered the outlook on harsh weather. General Mills net and sales slipped. KB Home net swung to profit after revenue climbed. Oracle net surged 28%. Vera Bradley profit plunged 23% as sales slumped.

Europe Earnings: Brenntag, HeidelbergCement, Inditex, Ophir Energy, Smiths

Nigel Thomas
19 Mar, 2014
New York City

Brenntag profit rose 1% to

India Movers: Alstom T&D India, Ashok Leyland, Crompton, JSW Steel, TCS

Mukesh Buch
19 Mar, 2014
New York City

Alstom T&D India secured contract for