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Wall Street Surge Follows European Decisions; Bond Market Sceptical

Bikram Pandey
27 Oct, 2011
New York City

Stocks, commodities and euro soared after European leaders agreed to restructure Greek bonds and banks were asked to raise capital and meet higher reserve requirements. The euro gained, oil soared 4%, gold added 1% and copper surged 7%. U.S. bond yields rose and European yields traded near highs.

Akamai, Altria, ExxonMobil, Franklin Resources Rise; Visa, PF Chang's Ease

Devan Biswas
27 Oct, 2011
New York City

Akamai Technologies surged 15% after quarterly revenues and earnings rose more than expected. Visa Inc reported 14% higher net as payment volume processed increased. ExxonMobil earnings surged after crude oil prices rose 18% from a year ago. PF Chang

U.S. GDP Growth Accelerates to 2.5%; S&P 500 Index Jumps 2%

Nichole Harper
27 Oct, 2011
New York City

U.S. stocks soared after European leaders agreed after a marathon ten hours of negotiations to restructure Greek debt. U.S. economy in the third quarter expanded at 2.5%, faster than the 1.3% in the second quarter. ExxonMobil third quarter revenues increased 32% and net soared 41% to $10.3 billon.

European Agreement Lifts Indexes 5%; Deutsche Bank, BNP Paribas Vault 15%

Devan Biswas
27 Oct, 2011
New York City

European markets surged after the European Union leaders agreed on a plan to restructure Greek debt, ask banks to recapitalize and increase the size of the rescue fund with the help of outside investors. Banks soared in Frankfurt, Milan and Paris.

Nikkei in Tokyo Soars 2%; Insurers Face $2 Billion Thai Flood Losses

Nigel Thomas
27 Oct, 2011
New York City

The benchmark index in Japan gained 2% on the European leaders

Australian Stocks Surge 2.5%; Woolworths, NAB, Ten Network in Focus

Marcus Jacob
27 Oct, 2011
New York City

Australian stocks surged in a truncated trading session after the exchange struggled with technology. Woolworths reported first quarter sales increased 4.9% and cited continued weak environment. National Australia Bank reported higher net on lower bad debt charges.

Discover Financial Services Q3 Earnings Call Transcript

123jump.com Staff
27 Oct, 2011
New York City

The financial services company reported quarterly net revenues grew 4.6% to $1.79 billion. Net income in the quarter surged 149% to $649 million, driven by strong card sales volume. Earnings per share rose to $1.18 compared to 47 cents per share last year.

FedEx Q1 Earnings Call Transcript

123jump.com Staff
27 Oct, 2011
New York City

The logistics services company said revenue rose 11% to $10.52 billion in the quarter. Net quarterly income climbed 22% to $464 million. Earnings per share grew to $1.46 compared to $1.20 per share a year ago quarter. The company estimates fiscal year 2012 earnings of $6.25 to $6.75 per share.

S&P 500 Index Up 1%, Oil Falls 2.5%; Market Awaits Europe Details

Bikram Pandey
26 Oct, 2011
New York City

U.S. indexes gained more than 1% after better than expected durable goods orders and new home sales data. European leaders are still divided in how to restructure Greek debt and how to leverage the rescue fund. Italy struggles to make promises to cut its large deficit. Oil fell and metals gained.

U.S. Stocks Trade Sideways; Boeing Rises, Ford Drops

Devan Biswas
26 Oct, 2011
New York City

U.S. stocks opened higher after adjusted durable goods orders increased in September and new home sales rose after builders lowered prices. Ford Motor earnings were lower on commodities hedge losses and Boeing third quarter net rose.

German Lawmakers Approve Leverage; Greece Demands to 50% Debt Cut

Bikram Pandey
26 Oct, 2011
New York City

European markets closed fractionally higher ahead of the details of the bank rescue plans as leaders struggle to resolve Greek bond bailout conditions and leverage rescue fund. Germany lawmakers approved the leverage of the rescue fund and Italian prime minster to offer vague promises of reforms.

Stocks in Japan Decline; Nissin, Olympus Fall, Fanuc Rises

Nigel Thomas
26 Oct, 2011
New York City

Stocks in Japan declined as investors focused on the domestic earnings and rising flood waters in Bangkok. European leaders later in the day are expected to announce details of the bank recap plan. Hitachi Ltd reported earnings larger five times estimated.

Weaker Inflation Lifts Australian Indexes, CPI Rises 0.6%

Marcus Jacob
26 Oct, 2011
New York City

Australian stocks gained a fraction after inflation in the September quarter edged lower on weaker food, beverage, drugs and electronics prices. The dollar fell on the hopes of a rate cut at the next meeting in December.

S&P 500 Index Down 2%; Berlusconi Struggles to Hold Coalition

Bikram Pandey
25 Oct, 2011
New York City

U.S. indexes pulled back 2% after investors turned cautious on weak confidence data and earnings outlook. Netflix, Inc stocks plunged 35% after customers defect. European leaders postponed a meeting of finance minister as leaders struggle to finalize Greek bonds loss. India lifts rates by 0.25%.

UK Mortgage Approvals Fall; BP, Reckitt Benckiser Net Up

Arthi Gupta
25 Oct, 2011
New York City

The UK indexes dropped after European finance ministers postponed their meeting. The UK current account deficit narrowed in the second quarter and mortgage approvals dropped unexpectedly in September. U.S.-based Hain Celestial agreed to acquire Daniels Group for $230 million.

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