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RBA Reiterated Rate Outlook, David Jones to Review Myer Merger

Marcus Jacob
18 Mar, 2014
New York City

Australian market indexes closed higher after the release of latest RBA minutes of meeting. The policy committee reiterated it low interest rate outlook for the foreseeable future and cited weak labor market conditions and weakening foreign exchange rates.

Nikkei Rebounds 0.9%, Yean Eases

Hiruki Nakamura
18 Mar, 2014
New York City

Market indexes in Tokyo gained 0.9% after the yen eased against the dollar. The Nikkei trimmed the losses in the year so far to 12%, the worst decline among the largest 25 world markets. Sony commenced its worldwide job reduction plan.

Media General Acquires LIN Media for $1.6 Billion

Devan Biswas
21 Mar, 2014
New York City

Media General agreed to a $1.6 billion deal with LIN Media and expands its reach to 25% of U.S. households and becomes the second-largest pure-play TV network.

Adobe, General Mills, KB Home, Vera Bradley Rise; Oracle Falls

Mukesh Buch
19 Mar, 2014
New York City

Adobe net declined 28%. FedEx net climbed 5% but lowered the outlook on harsh weather. General Mills net and sales slipped. KB Home net swung to profit after revenue climbed. Oracle net surged 28%. Vera Bradley profit plunged 23% as sales slumped.

Europe Earnings: Brenntag, HeidelbergCement, Inditex, Ophir Energy, Smiths

Nigel Thomas
19 Mar, 2014
New York City

Brenntag profit rose 1% to

India Movers: Alstom T&D India, Ashok Leyland, Crompton, JSW Steel, TCS

Mukesh Buch
19 Mar, 2014
New York City

Alstom T&D India secured contract for

Record Intra-day in S&P 500 Index, Fitch Reaffirms U.S. Debt Rating

Nichole Harper
21 Mar, 2014
New York City

Investors turned confident and bid up stocks. Fitch Ratings reaffirmed U.S. debt rating at AAA and revised the outlook to stable from negative. The S&P 500 index reached a new intra-day record and up 2.3% in the week so far. Media General agreed to acquire LIN Media for $1.6 billion.

Australian Stocks Advance, Stockland Acquired Stake in Australand

Marcus Jacob
19 Mar, 2014
New York City

Australian stocks meandered in active trading and the market indexes closed higher. Australian dollar gained. Stockland acquired a strategic stake in Australand Property Group. David Jones earnings were weighed down on a weakness in its credit card unit.

Toyota to Settle U.S. Criminal Probe for $1, Japan Display Falls on Debut

Hiruki Nakamura
19 Mar, 2014
New York City

Stocks in Tokyo lacked direction in trading and the yen advanced slightly. Toyota is said to agree to a settlement of $1 billion with the U.S. regulator for its criminal probe. The automaker is still facing several investigations.

India Movers: Axis Bank, IDFC, Mukand, Mayur Uniquoters

Mukesh Buch
20 Mar, 2014
New York City

Axis Bank said UTI will lower its stake and sell 4.22 crore shares. IDFC plans to raise $122.94 million for a debt fund. Mukand surged after promoters increased their stake. Mayur Uniquoters board approved to raise $11.4 million.

Australian Indexes Drop 1.2%

Marcus Jacob
20 Mar, 2014
New York City

Australian markets turned lower and the Aussie dollar eased after the prospects of interest rate increase in the U.S. rose after the Federal Reserve trimmed its bond purchase program. Myer Holdings reported interim earnings decline of 8%.

Nikkei Falls on U.S. Rate Worries, Toyota Probe Costs Rise to $3 B

Hiruki Nakamura
20 Mar, 2014
New York City

Nikkei index in Tokyo dropped 1.6% on the prospect of rising interest rate in the U.S. Toyota agreed to settle U.S. Department of Justice probe for $1.25 billion and the total cost of sudden acceleration in vehicles inquiries increased to $3 billion.

Europe Earnings: SKF, Cello Group, Lloyds, Munich Re, Next

Nigel Thomas
20 Mar, 2014
New York City

SKF agreed to pay

Endocyte, Nortek, Tiffany Jump; AAR, Nike, Symantec Tumble

Mukesh Buch
21 Mar, 2014
New York City

AAR net plunged 23% on sales decline of 9%. Darden Restaurants profit dropped 18%. Endocyte surged after European Medicines Agency issued a positive opinion on cancer drug. Nike net tumbled 21% but revenue climbed. Tiffany net swung to loss.

IHS Rises; Cato, Scholastic Tumble

Mukesh Buch
20 Mar, 2014
New York City

Cato tumbled after net and sales dropped and lowered its outlook. ConAgra surged 95% and sales climbed 15%. IHS climbed 31% as revenue surged 37%. Lennar profit jumped 36%. Scholastic net tumbled 40%.

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