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Market Update

Infosys Founders Trim Stakes by $1.1 B, Aurobindo in U.S. Acquisition

Mukesh Buch
08 Dec, 2014
New York City

Infosys founders are looking to sell shares worth Rs 6,484 crore and cut their collective holding from 16%. SBI is expected to decide on the loan of $1 billion to Adani Group for its Australian project in three-months. Aurobindo Pharma to acquire the U.S.-based Natrol Inc worth $132.5 million.

U.S. Employment Data Lifts Market Sentiment, Jobless Rate at 5.8%

Nichole Harper
05 Dec, 2014
New York City

Market indexes on Wall Street trimmed gains and investors took an optimistic view of the latest monthly jobs data. Employers at all levels added 321,000 jobs and jobless, the most since June 2012 and jobless rate held at 5.8%. U.S. trade deficit also narrowed. S&P lowered its view on Italian debt.

Stocks in Tokyo Extend a 6-day Rally, Yen Weakens Above 120

Hiruki Nakamura
05 Dec, 2014
New York City

Japanese stocks and market indexes extended gains for the sixth day in a row and the Topix extended seven-year high. The yen dropped below 120 mark and economists and brokers held out for 125 against the U.S. dollar target.

Australia Halts 3-day Rally; Mount Gibson Plunges 50%, Bradken Soars

Marcus Jacob
05 Dec, 2014
New York City

Australian market indexes halted a three-day rally and the Aussie dollar weakened following persistent weakness in resource prices. In active trading, market indexes trimmed weekly gains. Bradken Limited soared on a takeover proposal. Mount Gibson Iron Ltd plunged 50% on a iron mine closure.

Ulta Salon Jumps; Big Lots, Cooper, Genesco Five Below Decline

Mukesh Buch
05 Dec, 2014
New York City

Big Lots tumbled after quarterly net loss narrowed. Cooper net plummeted 46% but revenues soared 14%. Genesco profit rose 3%. Five Below plunged despite net surged 94% and sales climbed 24%. Finisar net swung to a loss. Ulta Salon net soared 30% on 20% increase in revenues.

RIL and Pemex in Exploration Deal, Zuari Acquires 25% Stake in MCFL

Mukesh Buch
05 Dec, 2014
New York City

Axis Bank raised Rs 5,705 crore to sold infrastructure bond. Dena Bank plans to sell bad loans of Rs 500 crore to asset reconstruction companies. Zuari group agreed to acquire 25.9% stake in the MCFL.

Balfour Beatty, Songbird Reject Takeover Offers

Nigel Thomas
05 Dec, 2014
New York City

Balfour Beatty rejected a

U.S. Indexes Turn Lower and European Markets Drop 1% on ECB Stimulus Delay

Nichole Harper
04 Dec, 2014
New York City

Stocks on Wall turned lower and energy stocks led the decline after the crude oil dropped 1% and extended the loss in the year to 40%. European Central Bank is wait for another quarter of data before announcing additional stimulus measures. ECB President also lowered growth and inflation estimates.

Yen at Seven Year Low, Softbank Invests $250 M in GrabTaxi

Hiruki Nakamura
04 Dec, 2014
New York City

Stocks in Tokyo closed higher and automakers led the charge. The yen closed at its weakest since 2007 and the Japanese currency has declined 12% in the year so far against the U.S. dollar. Softbank invests in taxi booking service provider in Southeast Asia.

Avago, Kroger Climb; Aeropostale, Barnes & Noble, Express, Sears Plunge

Mukesh Buch
04 Dec, 2014
New York City

Avago Technologies net declined 22% but revenues climbed 115%. Aeropostale net loss widened. Barnes & Noble profit slumped 7%. Dollar General net fell. Kroger profit surged 21%. NextEra agreed to acquire Hawaiian Electric for $4.3 billion. PVH net soared 15%. Sears Holdings net loss widened.

India to Sell 5% in SAIL, India to Recover $160 M from Oil Contractors

Mukesh Buch
04 Dec, 2014
New York City

Central Bank plans to raise about Rs 626 crore. Strides Arcolab plans to construct biopharmaceutical manufacturing facility in Malaysia. Government of India is looking to recover $160 million on KG-D6 block from contractors.

Australian Trade Deficit Narrows, Aussie Dollar Eases

Marcus Jacob
04 Dec, 2014
New York City

Australian trade deficit narrowed in October to $1.32 billion from the revised $2.24 billion deficit in September. Retail sales in the month increased 0.4% from the revised 1.3% increase in September. Australian dollar edged lower.

EasyJet, Ryanair November Traffic Climb; DS Smith, TUI Travel Net Soar

Nigel Thomas
04 Dec, 2014
New York City

DS Smith profit soared 36% to

Wall Street Awaits Payroll Data, Stock Lack Direction

Nichole Harper
03 Dec, 2014
New York City

Market indexes in New York traded higher and crude oil bounced around $67 a barrel. Walgreen fiscal first-quarter sales increased 6.8%. Abercrombie & Fitch comparable sales in third-quarter plunged 14%.

Japan Indexes in 4-day Rally, Toyota and Honda U.S. Sales Advance

Hiruki Nakamura
03 Dec, 2014
New York City

Stocks in Tokyo advanced for the fourth day in a row and the Topix index closed at a high not seen since 2008. Toyota and Honda gained after the U.S. sales in November were ahead of expectations. Nissan sales lagged.