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Fannie Sues Nine Banks Seeking $800 Million, OfficeMax Wins Merger Approval

Nichole Harper
01 Nov, 2013
New York City

U.S. stocks opened higher and market indexes in Europe trended lower. Fannie Mae sued nine banks seeking $800 million. OfficeMax and Office Depot won a regulatory approval for their $1.2 billion merger.

Nikkei Extends Losses, Sony, Japan Tobacco, Nissan in Focus

Hiruki Nakamura
01 Nov, 2013
New York City

Stocks in Japan extended losses for the second day as investors digested latest batch of earnings reports. For the October month, the Nikkei declined 1.9% as investors weigh the impact of sales tax increase. Sony lowered its outlook. Nissan lifted revenues and earnings estimates.

Australian Manufacturing Expands at 3-Year High Rate, PPI Rises 1.3%

Marcus Jacob
01 Nov, 2013
New York City

Australian market index closed lower as domestic manufacturing activity expanded at a 3-year high rate. Australian wholesale prices rose 1.3% in October largely on import price increase. Two separate surveys in China showed an expansion in manufacturing.

India Movers: Berger Paints, Glenmark, IDFC, Motherson Sumi, M&M, Maruti

Mukesh Buch
01 Nov, 2013
New York City

Berger Paints net climbed 17% and sales jumped 19%. Glenmark profit fell 2%. IDFC profit rose 2%. Kalpataru Power climbed 17%. Mahindra & Mahindra sales soared 29%. Maruti Suzuki October sales increased 2%.

U.S. Stocks Waver, Earnings Dominate Sentiment

Nichole Harper
31 Oct, 2013
New York City

U.S. stocks rebounded from the lows in the first hour in trading and the pound jumped 1% against the euro after the inflation rate declined to 0.7% annual rate. U.S. weekly jobless claims declined as government employees return to work.

U.S. Movers: Avon, Cigna, Facebook, MasterCard, Time Warner, Visa

Mukesh Buch
31 Oct, 2013
New York City

Cigna net surged 19% after sales jumped 10%. ConocoPhillips net soared 39%. Facebook said quarterly net swung to a loss. Expedia net slid. MasterCard profit climbed 14%. Starbucks net surged 34%. Time Warner net plunged 34%. Visa net plunged 28%.

Europe Earnings: AstraZeneca, BT Group, Croda, Rentokil, Smith & Nephew

Nigel Thomas
31 Oct, 2013
New York City

AstraZeneca profit for the quarter dropped 35%. BT Group profit declined 13% to

Nikkei Drops 1.2%; Mitsubishi Estate, Sony Financial Net Rise

Hiruki Nakamura
31 Oct, 2013
New York City

Nikkei Stock Average in Tokyo declined 1.2% and the yen advanced. Panasonic Corp lifted its annual profit outlook on weaker yen. Kurita Water Industries said net in the first-half declined 16%. Mitsubishi Estate net jumped 75%. Sony Financial first-half net increased 11%.

Australian Index Jumps 4% in October, Record Net at NAB

Marcus Jacob
31 Oct, 2013
New York City

Australian stocks struggled to advance and for October market indexes jumped 4%. National Australia Bank reported record profit and increased its dividend. For the month, Sundance Resource soared 44% and Perseus Mining and Whitehaven Coal dropped 20%.

India Movers: Adani, BOI, BOB, Cadila, Dr. Reddy

Mukesh Buch
31 Oct, 2013
New York City

Adani Enterprises net swung to a loss. Bank of India net surged 106% and Bank of Baroda net dropped 10%. Cadila Healthcare net soared 94%. Dr. Reddy

Fed Maintains Low Rates and Bond Purchase Program

Nigel Thomas
30 Oct, 2013
New York City

Fed continued its program of monthly purchase of $85 billion of Treasury securities and mortgage-backed securities and left its low interest rate policy intact.

Investors Digest Earnings and Await Fed Statement

Nichole Harper
30 Oct, 2013
New York City

U.S. stocks wavered ahead of Fed policy statement and focused on earnings. Comcast third quarter revenues declined 2.4%. General Motors quarterly revenues rose 4%. Western Union reported a fall in earnings. LinkedIn sales failed to meet expectations set by analysts.

U.S. Movers: American Tower, Comcast, Hess, GM, LinkedIn, Pricewaterhouse

Mukesh Buch
30 Oct, 2013
New York City

American Tower net plummeted 22%. Comcast net plunged 18%. Hess net and revenue tumbled. GM net plunged 41% but sales grew 4%. LinkedIn net swung to a loss. Pricewaterhouse agreed to acquire Booz & Co. Southern Co net jumped 13%.

Nikkei Soars 1.2%, Honda Motor Net Surges 46%

Hiruki Nakamura
30 Oct, 2013
New York City

Stocks in Tokyo advanced and Nikkei index added 1.2% and the yen weakened. Honda Motor said quarterly net soared 46% to $1.2 billion and retained its full-year outlook. Japan Tobacco plans to close four factories and cut 1,600 staff.

Australian Stocks Advance, Leighton Faces Class Action Suit

Marcus Jacob
30 Oct, 2013
New York City

Australian stocks in a choppy trading closed higher and the dollar edged lower. Leighton said it will defend a class action law suit that is linked to its outlook revision from profit to loss in late 2010 and early 2011. Fortescue plans to refinance its huge debt load of $12 billion.

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