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Wall Street Stocks Lower on Earnings Disappointments

Nichole Harper
16 Jan, 2014
New York City

U.S. market indexes drifted lower after weaker than expected earnings from Citigroup, Goldman Sachs and United Health. Best Buy Co plunged nearly one third after sales lagged in holiday period. Weekly jobless claims declined 2,000 last week.

Best Buy Plunges 28%, Weak Results from Citi and Goldman

Mukesh Buch
16 Jan, 2014
New York City

BlackRock net surged 24% and revenue jumped 9%. BB&T net advanced 6%. Best Buy holiday sales dropped. Citigroup fourth-quarter net plunged 17%. Goldman Sachs net climbed 6%. UnitedHealth net surged 15% on revenue increase of 8%.

Volatile Nikkei Closes Higher, Japanese Machinery Orders Rise

Hiruki Nakamura
16 Jan, 2014
New York City

Stocks in Tokyo diverged and market indexes closed higher at close in a volatile trading session. Core machinery orders surged 9.3% in November. Mitsubishi Motors advanced 8% on 154% sales surge in China.

Europe Earnings: Sports Direct, Richemont, Carrefour, Home Retail, Ahold

Nigel Thomas
16 Jan, 2014
New York City

Sports Direct acquired 4.63% stake of Debenhams. Richemont revenues gained 3% to

Australian Markets Rebound, Miners Report Production Growth

Marcus Jacob
16 Jan, 2014
New York City

Australian market indexes rebounded on better-than-expected production reports from mining and energy companies. The Aussie dollar edged lower. Rio Tinto said annual production in Pilbara region increased 5%. Woodside Petroleum sales declined less than expected.

India Movers: Axis Bank, Bajaj Auto, HCL, KEC, LIC Housing, L&T

Mukesh Buch
16 Jan, 2014
New York City

Axis Bank net climbed 19% Bajaj Auto net soared 11%. HCL net jumped 6%. KEC Intl secured orders worth Rs 1,215 crore. LIC Housing Finance net surged 38%. L&T unit secured new orders for Rs 1,000 crore.

S&P 500 Index Nears Record, BofA Earnings Lift Sentiment

Nichole Harper
15 Jan, 2014
New York City

Market indexes on Wall Street advanced after Bank of America reported better than expected. New York region manufacturing index showed a stronger than expected growth. World Bank lifted its global economic growth estimate.

Indexes in Japan Rebound 2%; Hitachi and NTN Surge

Hiruki Nakamura
15 Jan, 2014
New York City

Stocks in Tokyo rebounded after the yen reversed its three-day advance. Market indexes jumped at least 2% after Topix dropped the most since August. Bearings makers and Hitachi Ltd jumped on earnings expectations.

U.S. Movers: AEP, Bank of America, Fastenal, GM, Linear Tech, WNS

Mukesh Buch
15 Jan, 2014
New York City

AEP net plunged 54%. Bank of America net surged to $3.44 billion as mortgage losses ease. Fastenal net rose 0.5% and net sales climbed 8%. GM plans to open four plants in China through 2015. Linear Technology net surged 18%.

Burberry Soars on Earnings, H & M December Sales Rise

Nigel Thomas
15 Jan, 2014
New York City

Burberry said retail revenue surged 14% to

Australian Loan Approvals and Auto Sales Rise

Marcus Jacob
15 Jan, 2014
New York City

Australian stocks rebounded but trading volume was weak. Loan approvals in November increased 5.5% in Australia and care sales advanced 1.7% in December. Fortescue Metals said it plans to repay its $1.6 billion short term debt ahead of schedule before March.

India Movers: Bajaj, Coal India, McNally, RIL, Usha Martin, Yes Bank

Mukesh Buch
15 Jan, 2014
New York City

Bajaj Finance net surged 21% and revenue soared 31%. Bajaj Finserv net climbed 13%. Coal India declared special yearly dividend. McNally secured order for structural work. RIL plans to acquire stake of 11% in Petronas. Yes Bank net surged 21%.

U.S. Retail Sales Rise 0.2%, Time Warner Rejects Charter Offer

Nichole Harper
14 Jan, 2014
New York City

Stocks on Wall Street advanced after December retail sales were ahead of expectations and import price index was flat. JPMorgan earnings declined 7% on 2% fall in revenues. Wells Fargo reported 10% increase in earnings.

Nikkei Plunges 3.1%, Record Current Account Deficit in Japan

Hiruki Nakamura
14 Jan, 2014
New York City

Nikkei index in Tokyo plunged 3.1% and the yen continued its slide after a 3-day market closure. Seasonally adjusted current account balance turned negative for the third month in a row in November. Investors extended purchase of dollar bonds for the fifth month in a row.

U.S. Movers: JPMorgan, Shaw Communications, Time Warner, Wells Fargo

Mukesh Buch
14 Jan, 2014
New York City

Commerce Bancshares fell 1%. JPMorgan net dropped 7% and revenue slid 2%. GameStop said global sales climbed 9%. Shaw Communications net rose 4%. Time Warner rejected $62.35 billion from Charter Communications. Wells Fargo net climbed 10%.

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