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India Movers: Infosys Plunges 21%, RCom Plans to Raise $800 Million

Mukesh Buch
12 Apr, 2013
New York City

Infosys plunged 21%, single largest one-day decline since 2003 on weak fourth quarter earnings and lower current fiscal year outlook. Development Credit Bank said fiscal net profit nearly doubled. RCom plan to sell stake in one of unit to raise $800 million.

European Government Bonds Benefit from BoJ Aggressive Action

Nigel Thomas
11 Apr, 2013
New York City

Government bond market yields across the euro zone dropped near 2-year low as the aggressive Japanese monetary action ripples through. Italy sold 7.2 billion euros of debt and French and Belgian government bond yields declined. Axa SA agreed to sell its U.S. based Protective Life for $1.06 billion.

U.S. Movers: Avago, Bed Bath, Citigroup, Costco, Rite Aid, Progressive

Mukesh Buch
11 Apr, 2013
New York City

Avago agreed to acquire optical chip maker CyOptics for $400 million in cash. Bed Bath & Beyond said second quarter net rose 7%. Costco March net sales climbed 7% to $9.67 billion and comparable sales gained 4%. Rite Aid surged on second quarterly profit in a row.

Indexes on Wall Street Test New Highs, Weekly Jobless Claims Fall

Nichole Harper
11 Apr, 2013
New York City

Market index in New York traded higher and the S&P 500 and the Dow flirted with new highs. Weekly initial claims of unemployment declined 42,000 at the end of last week and import prices declined in March. Microsoft, Hewlett Packard and Intel declined after personal computer sales slumped.

Europe Movers: Ashmore, Axa, Evraz, Marks and Spencer, WH Smith

Nigel Thomas
11 Apr, 2013
New York City

Ashmore said third quarter assets under management climbed 9.4% to $77.7 billion. Axa sold its US unit to Protective Life for $1.06 billion. Evraz report net in the year swung to $335 million loss. M&S fourth quarter food sales climbed 4%. WH Smith said group total sales fell 4%.

Elevated Nikkei Extends Year-to-date Gain to 30%

Hiruki Nakamura
11 Apr, 2013
New York City

Market indexes in Japan closed at five-year highs and the yen traded near 100 against one dollar. Fast Retailing lifted its profit outlook on weaker yen and retail mall operator Aeon Co also reported better than expected earnings.

BHP Completes Diamond Division Deal, Woolworths Sales Up 2.5%

Marcus Jacob
11 Apr, 2013
New York City

Australian stocks gained on the strength in banks but miners struggled. BHP Billiton completed the sale of its Canadian diamond unit for $553 million. Woolworths said quarterly sales increased 2.5%.

India Movers: Ess Dee, Gujarat Apollo, Sterlite, Tata Motors, Tata Steel

Mukesh Buch
11 Apr, 2013
New York City

Ess Dee plan to sell majority stake to Australian based Amcor. Switzerland based Amrnann Group holds 70% stake in Gujarat Apollo Ind. Luxury division JLR of Tata Motors said global sales jumped 16%. Tata Steel amalgamated its subsidiaries.

U.S. Movers: Adtran, CarMax, Family Dollar, Fastenal, Titan Machinery

Mukesh Buch
10 Apr, 2013
New York City

Adtran first quarter net plunged 38% and CarMax fourth quarter net jumped 13%. Family Dollar second quarter net jumped 25% and Fastenal first quarter net climbed 9%. PriceSmart second quarter net surged 25%. Titan Machinery fourth quarter net slipped 12.5%.

U.S. Movers: Alcoa, Schulman, AngioDynamics, Mistras, Zep

Mukesh Buch
09 Apr, 2013
New York City

Alcoa first quarter net surged 59% to $149 million and A. Schulman second quarter net soared 33%. AngioDynamics said third quarter net loss narrowed. Mistras Group third quarter net dropped 9%. Zep second quarter net climbed 15%.

S&P 500 Surpasses Intra-day High, Obama Proposes $3.77 T Budget

Nichole Harper
10 Apr, 2013
New York City

U.S. market indexes gained and the S&P 500 index surpassed its previous intra-day high. Fed policy members are still debating the stimulus unwinding measures according to the latest minutes of meeting. The yen declined to the lowest level since May 2009.

Europe Movers: Gerresheimer, Halfords, Telefonica, Wacker Chemie

Nigel Thomas
10 Apr, 2013
New York City

Diageo

BoJ $1.4 Trillion Spending May Leak to U.S. and European Treasury Bonds

Hiruki Nakamura
10 Apr, 2013
New York City

Stocks in Japan traded higher and the yen extended weakness against the dollar and the yen. Investors are worried that most of the $1.4 trillion in central bank spending will leak to the U.S. and European bond markets and inflate real estate prices around the world.

Australian Markets Struggle, Billabong Plunges 27%

Marcus Jacob
10 Apr, 2013
New York City

Australian market indexes struggled to gain as consumer sentiment index declined in April. Billabong plunged 27% after it received a significantly lower than expected bid. Bank of Queensland agreed to acquire Virgin Money Australian for $40 million.

India Movers: Cairn India, Jindal, MMTC, Siemens, Tata Steel, TCS

Mukesh Buch
10 Apr, 2013
New York City

Cairn India fourth quarter oil production jumped 12%. Jindal Stainless in strategic agreement with Korean steelmaker Posco. Siemens India secured contract from Bangladesh. Tata Steel fourth quarter steel production jumped 27% and sales surged 29%.

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