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Market Update

Stocks Surge After U.S. Growth Rate Revised to 4.1%

Nichole Harper
20 Dec, 2013
New York City

U.S. revised its third quarter economic growth estimate to 4.1%, the strongest increase in nearly two years but underlying rate of growth remained at 2.5%. Global markets surged and extended yearly gains and the dollar strengthened.

BoJ Left Bond Purchase Plan Intact and Lifted Inflation Expectation Outlook

Hiruki Nakamura
20 Dec, 2013
New York City

Stocks in Japan closed higher and extended weekly gain to 3% and the yen eased and fell below 104 against one dollar. Bank of Japan kept its plan to expand monetary base intact and said inflation expectations are rising.

U.S. Movers: Accenture, ConAgra, Pier 1, Scholastic, Rite Aid

Mukesh Buch
19 Dec, 2013
New York City

Accenture net climbed 10%. ConAgra net jumped 18% and revenue soared 27%. Darden net plunged 41% but sales jumped 5%. Pier 1 Imports net rose 5%. Scholastic net dropped 6%. Rite Aid net surged 16% and extended agreement with GNC through 2019.

Telstra Sells CSL in Hong Kong for $2.4 Billion, Australian Indexes Rise

Marcus Jacob
20 Dec, 2013
New York City

Australian stocks extended gains and closed up 3.3% in the week. Ahead of holiday week, trading volume surged and resource and bank stocks led the gainers. Telstra Agreed to sell its Hong Kong based mobile business CSL for $2.43 billion.

U.S. Movers: AAR, Carnival, Navistar, Nike, Red Hat, TIBCO, Walgreen

Mukesh Buch
20 Dec, 2013
New York City

AAR net climbed 12%. CarMax net soared 12%. Cintas profit jumped 9% and sales increased 8%. Nike net surged 40% after revenue rose 8%. Red Hat net soared 49% as revenue jumped 15%. TIBCO tumbled 14%. Walgreen net jumped 5%.

Europe Earnings: AstraZeneca, BAE, Deutsche Bank, G4S, Uralkaliy

Nigel Thomas
20 Dec, 2013
New York City

AstraZeneca agreed to buy diabetes-treatment business from Bristol-Myers for $4.1 billion. BAE confirmed

India Movers: Bajaj, Just Dial, Maruti Suzuki, IDFC, RIL, Welspun

Mukesh Buch
20 Dec, 2013
New York City

Bajaj Electricals estimated Rs 5,000 crore sales in fiscal 2014. Maruti Suzuki rose after its parent in Japan plans to increase its holding. IDFC reduced foreign holding to secure a banking license.

Fed Tapering Lifts Indexes; Facebook, Zuckerberg to Sell $4 Billion of Stocks

Nichole Harper
19 Dec, 2013
New York City

Stocks on Wall Street eased after a rally in the previous session. The Fed

Nikkei Extends Rally on the Fed's Gradual Withdrawal

Hiruki Nakamura
19 Dec, 2013
New York City

Nikkei in Japan soared following the Fed announcement of gradual tapering plan and low interest rate for two more years. The clarity form the U.S. Fed lifted market sentiment. Tokyo Electron estimated net loss on the write down of its solar business.

Australian Markets Jump 2% After Fed Announcement

Marcus Jacob
19 Dec, 2013
New York City

Australian indexes soared more than 2% following the Fed announcement of a gradual reduction in its huge bond purchase program and clarity on low interest rates for two more years. Cove-More Group Limited, travel insurer priced its initial public offering at $2 a share.

Europe Earnings: Algeta, Daimler, Essar Energy, Saab, Serco

Nigel Thomas
19 Dec, 2013
New York City

Algeta agreed to be acquired by Bayer $2.9 billion. Daimler Benz agreed to acquire 5% stake in Aston Martin. Essar Energy plans to reduce capital expenditure. Saab won contract to supply 36 jet fighters in a deal worth $4.5 billion.

India Movers: Alstom, Adani, AIA Engineering, DLF, Power Grid, Power Grid

Mukesh Buch
19 Dec, 2013
New York City

BHEL awarded Alstom India a contract worth

Housing Starts Soar 23%, William Morris and IMG in $2.4 B Deal

Nichole Harper
18 Dec, 2013
New York City

U.S. indexes drifted lower and new home construction soared 23% in November. Building permits in the month declined 3%. Silver Lake and William Morris agreed to acquire IMG Worldwide for $2.4 billion from Forstmann Little.

Japan's November Trade Deficit Surges

Hiruki Nakamura
18 Dec, 2013
New York City

Stocks in Tokyo surged on the expectations of details of economic reform as early as this week. Japan

U.S. Movers: FedEx, General Mills, HEICO, Jabil Circuit, Lennar, VeriFone

Mukesh Buch
18 Dec, 2013
New York City

FedEx net climbed 14% and lifted its full-year outlook. General Mills net rose 1% on flat sales. HEICO net soared 25%. Jabil Circuit climbed 11%. Lennar net surged 32%. VeriFone net swung to a loss $247.7 million.