ticker

Fed Stimulus Withdrawal Comments Spark World-wide Sell-Off

Nichole Harper
20 Jun, 2013
New York City

U.S. stocks extended losses for the second after Fed Chairman Ben Bernanke comments that laid out the timetable for the stimulus taper. European markets led the world market decline with a loss of more than 3%. Gold plunged 5% and oil fell 3%. The yield on 10-year U.S. bond increased to 2.42%.

Fed and China Worries Drag Nikkei and Asian Markets

Hiruki Nakamura
20 Jun, 2013
New York City

Stocks in Tokyo declined following an Asia-wide sell-off after comments from Fed Chairman Bernanke stoked the fears of early stimulus withdrawal in the U.S. The yen eased 1% against the dollar and 10-year Japanese bond yield increased 3 basis points to 0.85%.

U.S. Movers: Clarcor, HIS, Jabil Circuit, Kroger, Micron Tech, Rite Aid

Mukesh Buch
20 Jun, 2013
New York City

Clarcor second quarter net increased. IHS and Jabil Circuit revenue jumped but net declined. Micron Tech net swung to profit. Kroger net rose 9.6% to $481 million. Pier 1 net climbed and lifted earnings guidance. Rite Aid net surged and Steelcase profit climbed.

Europe Earnings: Ashtead, Carlyle, Dixons Retail, Ted Baker

Nigel Thomas
20 Jun, 2013
New York City

Ashtead revenue soared and profit for the year climbed 45% to

Australian Indexes Drop 2.1% as Asian Markets Plunge

Marcus Jacob
20 Jun, 2013
New York City

Australian market indexes plunged sharply following a weakness resource prices and a decline in Asian markets. Also, a private survey of Chinese manufacturing industry showed outlook for the industry was the worst in nine months.

India Movers: Airtel, Ramco Systems, TFCI, Tata Steel, Wipro

Mukesh Buch
20 Jun, 2013
New York City

Airtel plans to invest $125 million in Gabon of Africa. TFCI board approved proposal to seek licence to set up a bank. Tata Steel signed five-year contract worth

U.S. Movers: Actuant, Adobe, DISH Network, FedEx, Tetra Tech

Mukesh Buch
19 Jun, 2013
New York City

Actuant quarterly sales were flat and net swung to a loss. Adobe revenue and net jumped 66%. DISH Network said it would not submit a new takeover bid for Sprint. FedEx net plunged 45%. Tetra Tech dropped after it revised its third quarter outlook.

Europe Earnings: Berkeley, Imagination Tech, Liberty Global, Micro Focus

Nigel Thomas
19 Jun, 2013
New York City

Berkeley Group revenue for the year soared 32% and profit-after-tax surged 33% to

Rio Tinto to Cut Staff at Iron Ore Headquarter, Australian Stocks Rebound

Marcus Jacob
19 Jun, 2013
New York City

Australian stocks closed higher but the dollar struggled as iron ore prices remained weak in international trading. Rio Tinto eliminated 500 middle management positions in its iron ore division.

India Movers: Bhel, Dr. Reddy

Mukesh Buch
19 Jun, 2013
New York City

Bhel secured contract worth $90 million. ICICI Bank raised $100 million through a Chinese debt market offering. Religare promoters reduce their stakes worth $182 million and apply for a banking license. Vakrangee promoters increased their stake.

U.S. Movers: Exide, FactSet Research, Hormel Foods, Mechel OAO

Mukesh Buch
18 Jun, 2013
New York City

FactSet Research third quarter sales jumped and net climbed 11%. Hormel Foods lowered its earnings outlook for fiscal 2013. Motorcar Parts fourth quarter net loss widened. Mechel first quarter net swung to a loss.

Europe Earnings: Aggreko, Chemring, Co-op Bank, SDL, Whitbread

Nigel Thomas
18 Jun, 2013
New York City

Aggreko anticipates group revenues in the first half to climb 5%. Chemring Group secured order worth $25.2 million. Co-operative Bank plan to raise

Persistent Volatility in Tokyo Stocks; Mitsui OSK,Sony in Focus

Hiruki Nakamura
18 Jun, 2013
New York City

Market indexes in Tokyo edged lower and hugged the recent bear market level after smaller investors continued to sell stocks. However, foreign and domestic large investors added net positions to cyclical and real estate companies on the expectations of rising profits.

Australian Indexes Trend Lower, Banks and REITs Lead Gainers

Marcus Jacob
18 Jun, 2013
New York City

Australian market indexes trended lower and the dollar remained under pressure. The rate setting committee at the central bank showed willingness to lower reference rates despite the recent weakness in the dollar. Lynas decided to drop a defamation case against a Malaysian activist group.

India Movers: Jet Air, L&T, RCom, Siemens, Venus Remedies

Mukesh Buch
18 Jun, 2013
New York City

L&T is bidding for defense contracts of $1.4 billion. RCom surged after new national roaming regulations. VA Tech Wabag secured order worth Rs 262 crore from Nepal.

Market Update