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Market Update

Europe Movers: BASF, Intermediate Capital, Novartis, Suedzucker

Arthi Gupta
21 Nov, 2012
New York City

BASF plans to acquire Pronova BioPharma. Nokia completed the acquisition of earthmine. Intermediate Capital said first-half pre-tax profit fell 64% to

Choppy Trading in New York, Bernanke Urges Congress to Act

Bikram Pandey
20 Nov, 2012
New York City

U.S. stocks closed mixed after a volatile session. Fed Chairman Bernanke stepped up pressure on the Congress to act to avoid fiscal cliff. Hewlett Packard plunged 12% after the latest accounting blunder raised effectiveness of the company board.

Nikkei Halts 4-Day Rally, Shippers Rally on Freight Rate Outlook

Nigel Thomas
20 Nov, 2012
New York City

Nikkei index in Tokyo traded down 0.1% after rallying 5.7% in four session and the yen strengthened after falling to a 7-month low. Shipping companies advanced after Baltic Dry Index gained for the seventh day in a row.

Virgin Australia Retained Profit Outlook, Monadelphous Estimates Higher Net

Marcus Jacob
20 Nov, 2012
New York City

Australian stocks extended gains for the second day and the dollar eased. Resource companies led the advance on the back of rising commodities prices. Monadelphous guided 40% increase in first half sales and 25% increase in current year earnings. Virgin Australia held its profit outlook.

Housing Starts Surge, HP Takes $8.8 Billion Charge on Autonomy

Arthi Gupta
20 Nov, 2012
New York City

U.S. indexes struggled and housing starts surged to the highest rate in more than four years. HP swung to quarterly loss and blamed fraud at its $8.8 billion acquisition of Autonomy last year. Memorial Production agreed to buy oil and gas producing properties from Rise Energy for $271 million.

U.S. Movers: Agilent, Campbell Soup, Chico

Mukesh Buch
20 Nov, 2012
New York City

Agilent Technologies fourth quarter net climbed 47% and Campbell Soup first quarter net slumped 8%. Chico

French Debt Downgraded, Spain Raises

Arthi Gupta
20 Nov, 2012
New York City

The European indexes traded sideways after French debt ratings were cut. Spain raised

Europe Movers: Credit Suisse, easyJet, Fiat, HomeServe, ING, Syngenta

Arthi Gupta
20 Nov, 2012
New York City

Credit Suisse announced organizational changes. easyJet annual revenue rose 11.6% to

Large Gains in Stocks as Lawmakers Talk Budget Compromise

Bikram Pandey
19 Nov, 2012
New York City

U.S. stocks surged as optimism reigned high on the budget compromise. Also existing home sales increased for the seven months in a row in October and confidence among home builders surged to a six-month high. European markets and commodities extended gains.

Election Hopes Drive Nikkei to a 2-Month High, Yen at 7-Month Low

Nigel Thomas
19 Nov, 2012
New York City

Stocks in Tokyo advanced for the fourth day in a row as investors took bet for the change of power in the general election next month and see more stimulating measures from the central bank. The Nikkei index closed at 3-month high and the yen fell to a 7-month low.

Resource Prices Lift Australian Markets, Billabong in Play Again

Marcus Jacob
19 Nov, 2012
New York City

Australian market indexes and the dollar closed higher after resource prices increased. Billabong

U.S. Home Sales Rise 2.1%, Cisco to Buy Meraki for $1.2 B

Arthi Gupta
19 Nov, 2012
New York City

U.S. indexes advanced as lawmakers show willingness to avert so called fiscal cliff and existing home sales increased for the seventh month in a row. Cisco agreed to acquire Meraki for $1.2 billion and Electronics for Imaging agreed to buy Technique.

UK Home Prices Fall, HSBC in Talks to Sell Ping An Stake

Arthi Gupta
19 Nov, 2012
New York City

The UK indexes rose and average asking price for a home fell in November. Households in the UK report slowest deterioration in their finances in almost two years. Lloyds agreed to sell its Irish commercial real estate loans portfolio to Risali for

U.S. Movers: Cisco, Lowe

Mukesh Buch
19 Nov, 2012
New York City

Cisco agreed to buy Meraki Inc. for $1.2 billion in cash. Medtronic purchased China based Kanghui Holdings for $755 million. Lowe

European Indexes Rise 1.5%, New Record in Spanish Bad Loans

Arthi Gupta
19 Nov, 2012
New York City

The European indexes soared ahead of the euro zone finance ministers meeting in Brussels tomorrow. Euro zone finance ministers discuss offering more time to Greece to implement austerity measures. Spanish bad loans surge to a new record in September.