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Market Update

U.S. Movers: Discover Financial, FedEx, InterDigital, Oracle, Walgreen

Mukesh Buch
19 Jun, 2012
New York City

Discover Financial second quarter dropped 11% to $537 million and FedEx fourth quarter net slides 1% to $550 million. InterDigital sells patent applications to Intel for $375 million in cash. Oracle fourth quarter net soared 8% to $3.45 billion.

UK Annual Inflation Eases, Home Prices Rise

Arthi Gupta
19 Jun, 2012
New York City

The UK indexes surged more than 1% and annual inflation eased to a 30-month low in May and home prices increased in April. Cable & Wireless secured shareholders approval for the

U.S. Housing Starts Drop, Oracle Net Up 8%

Arthi Gupta
19 Jun, 2012
New York City

U.S. indexes gained and housing starts fell. Walgreen agreed to acquire 45% stake in Alliance Boots for $6.7 billion. Air Products agreed to buy stake in Chile-based Indura for $884 million. Brookfield Office agreed to purchase office buildings in London for $829 million. Oracle net rose 8%.

Walgreen to Acquire 45% Stake in Alliance Boots for $6.7 Billion

Arthi Gupta
19 Jun, 2012
New York City

Walgreen Co. and Alliance Boots GmbH entered into a strategic transaction that will create a global pharmaceutical leader with 11,000 stores in 12 countries and presence in 25 nations and 370 distribution centers and serve 170,000 pharmacies.

Nikkei Trims Gains of Monday, Steelmakers Fall

Nigel Thomas
19 Jun, 2012
New York City

Stocks in Japan trimmed half the gains of Monday after investors focused on the widening contagion in the euro zone. Sharp Corp gained on the hopes that Hon Hai may increase its stake in the company. Steelmakers fell on the price decline worries.

Spanish Yields Rise in Debt Auction, Danone Slumps 7%

Arthi Gupta
19 Jun, 2012
New York City

The European indexes rose after Samaras inched closer to forming a coalition government in Greece and Spain sold

German Sentiment Plunges, Euro Zone Construction Output Falls

Arthi Gupta
19 Jun, 2012
New York City

Construction output in the euro area fell in April. German economic confidence worsened and French business sentiment slid in June. Swedish jobless rate rose in May.

Australian Stocks Ease, Centro in $200 Million Settlement

Marcus Jacob
19 Jun, 2012
New York City

Australian stocks edged lower as world investors shift focus to Spain and the gathering of G 20 leaders. IMF is expected to receive more capital from member nations and increase lending to the euro zone. Centro shareholders will see only 60% of $200 million in legal settlement.

U.S. Movers: Elster Group, DSW, Fairfax Financial, Yamuna Gold

Mukesh Buch
18 Jun, 2012
New York City

Elster Group SE confirms possible acquisition by Melrose PLC. DSW reiterate 2012 outlook. Fairfax to acquire UK based Brit Insurance for $300 million. Yamuna Gold agreed to acquire Extorre Gold Mines valued $395 million.

UK Home Prices Climb, Motorola Solutions to Acquire Psion

Arthi Gupta
18 Jun, 2012
New York City

The UK indexes advanced after home prices climbed in June. Irish surplus rose in April. Motorola Solutions agreed to acquire Psion for

U.S. Investors Shift Focus to Spain after Greek Election

Arthi Gupta
18 Jun, 2012
New York City

U.S. indexes traded lower as Spanish yields rose to a record high. A pro-bailout party won majority of seats but not enough to form a government in Greece. The closely watched election failed to give majority to any party and the new government is expected to demand for bailout reliefs.

Greece Elections Soothe Market Jitters, Spanish Yield at 7.14%

Arthi Gupta
18 Jun, 2012
New York City

The European indexes rose after pro-bailout party won elections in Greece. Rising Spanish and Italian yields have dampened investor sentiment. A leading indicator of the French economy fell in April. U.S.-based Molson Coors completed its acquisition of StarBev for

UK and Bank of England Take Emergency Steps

Arthi Gupta
15 Jun, 2012
New York City

The UK indexes rose and deficit widened and construction output fell in April. Hong Kong Exchange parent agreed to acquire London Metal Exchange for

Bank of Japan Holds Rates, Nikkei in Weekly 1.2% Rise

Nigel Thomas
15 Jun, 2012
New York City

Stocks in Japan were flat and the Nikkei index in the week closed up 1.2% and extended gains for the second week in a row. Bank of Japan held its target interest rate and asset purchase program and investors look for a coordinated action from the central banks around the world.

U.S. Indexes Futures Rise as Central Bankers Step Up Actions

Arthi Gupta
15 Jun, 2012
New York City

U.S. indexes futures traded higher after central banks took preemptive steps to thwart liquidity crunch. The Bank of Japan left its key rate unchanged, the Swiss National Bank said it will act to arrest sudden surges in the franc and the Bank of England offered additional liquidity.