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Market Update

Earnings Optimism Drives Global Indexes to 5-month Highs

Bikram Pandey
10 Jan, 2012
New York City

U.S. stocks traded higher and indexes hovered near 5-month high as earnings optimism lifted broader indexes. Banks in Europe were in focus as several banks prepare to raise capital to meet revised capital guidelines. Tiffany dropped more than 10% after it lowered annual outlook.

U.S. Movers: Alcoa, DSW, Jones Group, Juniper Networks, WD-40

Mukesh Buch
10 Jan, 2012
New York City

Alcoa fourth quarter net swung to $191 million. Corus Entertainment first quarter net rose to $52.7 million. DSW raised its annual diluted earnings per share outlook and Jones Group cut its fourth quarter revenue outlook. WD-40 first quarter net declined 25%.

UK Home Prices Fall, Retail Sales Improve; Cairn Energy Up

Arthi Gupta
10 Jan, 2012
New York City

The UK indexes traded higher after banking and mining stocks rose and retail sales improved but home prices continued to fall in December. Irish manufacturing output declined in November.

U.S. Indexes Rebound; Alcoa Swings to Loss

Arthi Gupta
10 Jan, 2012
New York City

The U.S. indexes gained on the earnings optimism and Alcoa kicked off earnings season with a loss. Banks were in focus ahead of earnings next week. Chinese trade surplus increased to $16.5 billion in December.

Nikkei in Tokyo Gains 0.4%; Olympus, Tepco Rise

Nigel Thomas
10 Jan, 2012
New York City

Stocks in Tokyo traded higher on the first day of trading after a 3-day weekend. Resources linked stocks traded higher but banks and insurance stocks faced headwinds. The yen rose to a 11-year high against the euro.

German Manufacturing Slows; French Sentiment Improves

Arthi Gupta
10 Jan, 2012
New York City

Manufacturing turnover in Germany eased, French industrial production rose, but retail sales in Denmark decreased in November. Swedish December budget deficit was lower than estimated by the debt office.

Australian Stocks Advance on Earnings Optimism

Marcus Jacob
10 Jan, 2012
New York City

Australian stocks advanced on the earnings optimism in the resource sector and residential buildings approvals increased 8.4% in November. Pacific Brands soared 14% after it received unsolicited takeover offer from the U.S. based leveraged buyout firm KKR.

European Indexes Jump 2.4%; UniCredit Offering Struggles

Arthi Gupta
10 Jan, 2012
New York City

European markets traded higher on the positive earnings outlook in the resource sector but UniCredit SpA struggled to raise capital. The Netherlands raised

Afternoon Rally Lifts Wall Street Indexes; Swiss Central Bank Chief Resigns

Bikram Pandey
09 Jan, 2012
New York City

U.S. stocks traded retained mild positive tone ahead of the start of the earnings season and European leaders staged yet another round of meetings to discuss debt crisis in the region. Swiss central bank resigned after a public outcry over his private currency trades.

U.S. Movers: Acuity Brands, Bristol-Myers, Mistras Group, Zep

Mukesh Buch
09 Jan, 2012
New York City

Acuity Brands first quarter net increased 23% to $29.9 million. Bristol-Myers Squibb acquired Inhibitex for $26 per share. Motorola Mobility estimates fourth quarter sales of $3.4 billion. Schnitzer Steel said first quarter net tumbled to $7 million.

UK Indexes Decline; JD Sports Soars 7%

Arthi Gupta
09 Jan, 2012
New York City

The UK indexes tracked lower on the weak market sentiment in Europe. Financial sector revenues grow at a record pace in since 2007. Royal Bank of Scotland planned to sell its global cash equities business.

Bristol-Myers to Acquire Inhibitex for $2.5 B, Stocks Sideways

Arthi Gupta
09 Jan, 2012
New York City

The U.S. indexes traded sideways. Bristol-Myers agreed to acquire Inhibitex for $2.5 billion. InfoSpace signed an agreement to acquire TaxACT for $287.5 million. After the close, Alcoa is expected to release fourth quarter earnings that are likely to be weaker.

Australian Retail Sales Flat; Home Sales Surge 6.8%

Marcus Jacob
09 Jan, 2012
New York City

Australian stocks and indexes closed flat after new home sales rose 6.8% in November and October sales increase was lowered to 2.8%. Retail sales in November were flat after rising for four months in a row. The dollar edged lower.

Euro Area Confidence Improves; French Deficit Narrows

Arthi Gupta
09 Jan, 2012
New York City

Euro area investor confidence improved in January after weakening for five months in a row. The French trade deficit narrowed and German industrial output dropped in November. Swiss jobless rate increased in December.

German 6-month Yield Turns Negative; BMW Sales Rise

Arthi Gupta
09 Jan, 2012
New York City

The European indexes traded lower after Germany sold