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World Markets Stall Near 2-Year High, U.S. Trade Deficit Jumps

Bikram Pandey
11 Jan, 2013
New York City

U.S. and world markets hovered near 22-month high and U.S. trade deficit in November widened on global economic recovery. Banks were in focus ahead of earnings next week. The euro traded at a 2-month high. Japan embarked on the largest stimulus since 2008 and inflation in China gained momentum.

U.S. Indexes Struggle, Wells Fargo and Banks in Focus

Nichole Harper
11 Jan, 2013
New York City

U.S. indexes rebounded from the low in the first hour of trading and banks struggled. Wells Fargo reported 24% increase in earnings supported mortgage loans business but net interest margin suffered. Boeing declined after two more flights in Japan report problems.

Europe Movers: Nokia, BHP Billiton, SAP, CAP Gemini

Nigel Thomas
11 Jan, 2013
New York City

Nokia extended gains for the second day on the hopes that the new smartphone will lift last quarterly results. Resource sector stocks eased after China reported higher than expected inflation. SAP AG released new business software to automate processes.

Italian Bond Auction at Lower Yield, Euribo Changes Recommended

Nigel Thomas
11 Jan, 2013
New York City

European markets closed mixed and Italy completed the sale of

Nikkei in 9th Weekly Advance on Stimulus Plan and Central Bank Pressure

Nigel Thomas
11 Jan, 2013
New York City

Stocks in Tokyo closed higher and closed the ninth weekly advance in a row, the longest weekly increases since 1988. Prime Minister Shinzo Abe proposed $115 billion of stimulus plan and demanded central bank to put maximizing employment on top of its agenda.

U.S. Movers: Hurco, KBR, Synnex, Voxx, Wells Fargo

Mukesh Buch
11 Jan, 2013
New York City

Hurco fourth quarter net climbed 52%. KBR lowered its fiscal 2012 earnings guidance. Synnex third quarter net declined 13% to $43.6 million. Voxx third quarter net soared 48% and Wells Fargo fourth quarter net surged 24% to $5.1 billion.

Strengthening Cyclone Worries Miners in Western Australia

Marcus Jacob
11 Jan, 2013
New York City

Australian stocks closed lower and the dollar traded near its three months high. Mining companies fell after a storm approached near Western Australian ports threatening mine closures and iron ore shipment disruptions.

Infosys Soars 16% on Revenue Guidance and Flat Q3 Profit

Mukesh Buch
11 Jan, 2013
New York City

Bajaj Corp third quarter net profit soared 46% and CMC net profit jumped 24%. Infosys third quarter net profit was nearly flat at $434 million. Power Grid raised $500 million in its first foreign currency public offering.

India Movers: Engineers India, Gujarat NRE Coke, Infosys, Rolta

Mukesh Buch
10 Jan, 2013
New York City

Engineers India declined as government approved disinvestment plan. Gujarat NRE Coke net profit soared. Infosys is scheduled to report third quarter earnings on January 11. Rolta arm wins contract of $31 million. VKS Projects board approved stock split.

U.S. Movers: PriceSmart, Ruby Tuesday, Supervalu, Texas Industries

Mukesh Buch
10 Jan, 2013
New York City

Emmis Communications third quarter net plunged 92%. PriceSmart first quarter net surged 43%. Ruby Tuesday second quarter net loss widened. Supervalu third quarter net swung to profit. Texas Industries second quarter net loss narrowed.

U.S. and European Markets Retain Positive Tone on Earnings Optimism

Bikram Pandey
09 Jan, 2013
New York City

Stocks in New York extended European market gains on the corporate earnings optimism. Italy led the gains in European markets advance and reported record unemployment for the second month in a row. German industrial production barely budged. Nikkei in Japan rose on stimulus hopes.

Stocks in New York Open Higher, Morgan Stanley to Trim 1,600 Traders

Nichole Harper
09 Jan, 2013
New York City

Stocks on Wall Street gained after Alcoa reported better than expected quarterly results. Market indexes participated in a broad rally that lifted consumer and industrial and tech stocks. Morgan Stanley plans to trim 1,600 staff in its institutional securities business.

Arcelor Plans $3.5 Billion Offering, Shire Reaffirms 2012 Estimate

Nigel Thomas
09 Jan, 2013
New York City

ArcelorMittal plans to raise $3.5 billion in stock and convertible bond offering to cut $17 billion debt load. Telecom stocks in the region fell on the speculation that companies may be permitted to share infrastructure. J Sainsbury declined on weak same store sales growth.

German Industrial Production Rises 0.2%, Record Italian Jobless Rate

Barry Randall
09 Jan, 2013
New York City

European markets advanced across the region and Germany reported weaker than expected increase in industrial output. Italian unemployment held steady at record in November. ArcelorMittal plan to raise $3.5 billion through stock and convertible bond offering.

U.S. Movers: Alcoa, AZZ, Celgene, Clearwire, Global Payments

Mukesh Buch
09 Jan, 2013
New York City

Alcoa fourth quarter net swung to $242 million profit. Apollo Group plunged 10% after quarterly net declined 11%. AZZ third quarter net soared 15%. Clearwire received unsolicited offer from Dish Network. Global Payments second quarter net soared 15%.

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