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IBM to Acquire Privately Held SoftLayer to Expand Cloud Services

Devan Biswas
04 Jun, 2013
New York City

IBM Corp agreed to acquire privately held SoftLayer Technologies, Inc that valued the company at $2 billion as the company strengthens its presence in cloud computing for enterprises and small businesses.

Nikkei in Volatile Trading Gains 2.1%

Hiruki Nakamura
04 Jun, 2013
New York City

Stocks in Tokyo closed higher in volatile trading as banks and real estate developers plunge more than 20% in last two weeks. Market indexes in Tokyo are still up 30%, the best among developed markets but investors are increasingly cautious about future direction of Japanese markets.

Australian Rates on Hold, Current Account Deficit Narrows

Marcus Jacob
04 Jun, 2013
New York City

Australian stocks closed higher and resource developers and banks led the most active list. Reserve Bank of Australia held its rate at 2.75%, a five-decade low and the dollar traded near its low of the year. Australian current account deficit narrowed more than expected in the quarter to March.

U.S. Movers: Apple, AIG, Bristol Myers, Merck, Rio

Devan Biswas
03 Jun, 2013
New York City

Apple Inc declined 1% as the company faces electronic book price-fixing charges. Merck, Bristol Myers and Amgen gained after reporting positive results for three separate drugs to treat skin-cancer. Mid-American Apartment and Colonial Properties agreed to merge. Cracker Barrel soared on quarterly results.

U.S. Factory Activities Decline, Construction Picks Up

Nichole Harper
03 Jun, 2013
New York City

U.S. stock traded sideways. Construction activities increased 0.4% in April according to a government report and factory activities shrank in May. On merger Monday, Mid-American Apartment Communities and Colonial Properties Trust agreed to a merger that will create a company worth $8.6 billion.

Nikkei Drop Extends Correction to 15%, Brokers Lead Decliners

Hiruki Nakamura
03 Jun, 2013
New York City

Market indexes in Japan declined to a five-week low after investors turned cautious on softening Chinese economy and uncertainty related to the U.S. stimulus. Securities brokerage and real estate developers led the decliners in Tokyo trading. Nikkei 225 index has fallen 15% from its peak on May 22.

Australian Indexes Weaken; Retail Sales Rise, Home Prices Fall

Marcus Jacob
03 Jun, 2013
New York City

Australian indexes closed lower after a sell-off in the afternoon after China released softer than expected economic data. Resource sector stocks closed down 1.7% or more. Australian retail sales gained 0.2% in April and manufacturing growth decline slowed in May.

U.S. Stocks Turn Lower, Consumer Spending Falls

Nichole Harper
31 May, 2013
New York City

U.S. consumer spending declined for the first time in almost a year but inflation uptick was measured. Market indexes struggled in the early trading Euro zone jobless rate surged to a new record and protesters surround the European Central Bank.

U.S. Movers: Copart, Genesco, Guess, Krispy Kreme, Lions Gate, Pall

Mukesh Buch
31 May, 2013
New York City

Copart third quarter net slid. Guess, the apparel retailer said net plunged 63%. Krispy Kreme climbed on comparable sales increase. Lions Gate net swung to profit as revenue surged 22%. Pall sales and earnings slipped. Genesco net plunged 11%.

Europe Earnings: Lloyds Banking, PostNL, Severn Trent, TUI Travel

Nigel Thomas
31 May, 2013
New York City

Lloyds Bank sold its U.S. mortgage portfolio to raised

Nikkei in Tokyo Searches Direction, Industrial Production Pace Quickens

Hiruki Nakamura
31 May, 2013
New York City

Market indexes in Tokyo closed higher in a volatile week of trading as the indexes search a level to settle. The Nikkei has soared more than 70% in the last one year of trading and has corrected 11% from its peak in May and has struggled to find a direction in the last ten trading days.

Weekly Loss of 1.1% in Australian Indexes

Marcus Jacob
31 May, 2013
New York City

Australian index closed extended losses for the day and declined 1.1% in the week and fell 4.6% in the month. Australian dollar edged slightly higher. Origin Energy CEO in cautious comments said the outlook for Australian coal industry is bleak on the rising U.S. exports.

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