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Market Update

U.S. Indexes Higher, Best Buy Net Plunges 91%

Arthi Gupta
21 Aug, 2012
New York City

U.S. indexes traded higher following gains in the European and Asian markets. Apple extended gains on the speculation of new products release and Best Buy plunged on weak results. Church & Dwight agreed to acquire Avid Health for $650 million.

Europe Movers: Afren, Glencore, John Wood, Sixt

Arthi Gupta
21 Aug, 2012
New York City

Glencore revenues grew 17% helped by higher oil volumes handled, Afren revenue and cash flow surged driven by 218% annual increase in net production and Coca-Cola Hellenic Bottling comparable net profit fell 25% in the first-half.

Spain Raises

Arthi Gupta
21 Aug, 2012
New York City

The European indexes gained and Spain sold

U.S. Stocks Recover, Apple Surpasses Record Microsoft Market Cap

Bikram Pandey
20 Aug, 2012
New York City

U.S. stocks traded sideways after investors turned cautious on stretched valuations. European leaders kicked off another round of talks to renegotiate Greek bailout terms and the distribution process for Spain. Retail gasoline prices gained as summer demand stayed near peak.

Nikkei Extends Gains, Don Quijote up 5%

Nigel Thomas
20 Aug, 2012
New York City

Stocks in Japan traded mixed and domestic economy linked companies were favoured in thin trading. Home prices in China gained, dashing any hopes of additional government stimulus. The discount retailer Don Quijote surged 5% on higher estimated earnings.

Telstra, CBA Trade Ex-Dividend in Sydney, Bendigo Net Drops 43%

Marcus Jacob
20 Aug, 2012
New York City

Australian stocks closed lower and investors focused on defensive stocks ahead of meetings of European leaders later in the week. Telstra and CBA traded ex-dividend. Bendigo and Adelaide Bank said annual net dropped 43%.

U.S. Movers: Aetna, Kinder Morgan, Lowe's, Zagg

Mukesh Buch
20 Aug, 2012
New York City

Aetna agreed to buy Coventry Health for $5.7 billion and FMC Technologies agreed to acquire Pure Energy for C$282 million. Kinder Morgan said it sold natural gas pipe networks and facilities for $3.3 billion. Lowe''s declined on weak outlook.

Aetna to Acquire Coventry Health, Kinder Morgan in $1.8 B Deal

Arthi Gupta
20 Aug, 2012
New York City

On merger Monday, Aetna agreed to acquire Coventry Health Care for $7.3 billion, including debt. FMC agreed to buy Pure Energy Services for $285 million. Kinder Morgan Energy Partners agreed to sell its Rockies assets for $3.3 billion.

Euro Zone Output Falls, UK Home Prices Slump

Arthi Gupta
20 Aug, 2012
New York City

The European indexes rose and the ECB may set yield limits for sovereign bonds. Construction output in the euro zone fell in June. UK home prices slumped in August. Heineken raised its offer to acquire Fraser & Neave''s stake in Asia Pacific Breweries.

Sixth Weekly Rise on Wall Street; Records in Facebook and Apple

Bikram Pandey
17 Aug, 2012
New York City

U.S. indexes extended gains for the sixth week in a row on improving consumer confidence and economic conditions. S&P 500 index is up 12.8% in the year and the Nasdaq Composite is up 17%. Facebook, Groupon and Zynga dropped to new lows after more stocks are available for trading.

Nikkei in Second Weekly Rise of 3%, Japan Tobacco, Tokyo Steel in Focus

Nigel Thomas
17 Aug, 2012
New York City

The Nikkei index gained more than 3% for the second week in a row after investors covered short positions and the yen weakened. Japan Tobacco was volatile for the third day in a row after China proposed tobacco advertising ban and higher taxes.

Australian Stocks Advance; QBE Plunges 5%, ANZ Up 3%

Marcus Jacob
17 Aug, 2012
New York City

Australian markets indexes surged 0.9% on stronger local earnings and improving sentiment in the euro zone. ANZ reported first half profit increased 9%. QBE net surged but stock dropped on weaker outlook in the U.S.

U.S. Movers: Ann, Foot Locker, Hibbett Sports, Smucker, Gap

Mukesh Buch
17 Aug, 2012
New York City

Ann second quarter net climbed 24% and Foot Locker net jumped 60%. Hibbett Sports net surged 33%. Marvell Technology third quarter net plummeted 52% to $93.1 million and J. M. Smucker net slid. Gap second quarter net soared 29% to $243 million.

Morning Optimism on Wall Street, Illinois Tools in $1.1 B Deal

Arthi Gupta
17 Aug, 2012
New York City

U.S. and global indexes traded higher after comments from German Chancellor Angela Merkel. Illinois Tool Works agreed to divest a 51% stake in its unit for $1.1 billion. Foot Locker net soared in the second quarter.

Europe Movers: Lonmin, Nokia, Swiss Life, Rio Tinto

Arthi Gupta
17 Aug, 2012
New York City

Swiss Life first-half profit from operations rose 17% driven by operational advances and a strong investment result. Nokia planned to integrate social games from Zynga in the third quarter.