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Murdoch Faces More Questions After Dow Jones CEO Resigns

Bikram Pandey
16 Jul, 2011
New York City

Les Hinton, Chief Executive of Dow Jones resigned after more details emerged about lapses of ethical journalism during his tenure at the UK publications. Hinton is likely to face several UK inquiries. Rupert Murdoch may become the target of long term shareholders if scandal keeps widening.

Obama, Republicans Diverge on Debt Talks; 8 European Banks Fail Test

Bikram Pandey
16 Jul, 2011
New York City

U.S. debt talks veered in a direction that raised stakes for both parties as the House prepares to vote next week on a spending cut plan. Eight banks in Europe failed the watered down stress test and 16 additional banks will need to raise capital to meet regulatory requirements.

U.S. Movers: Citigroup, Genuine Parts, Google, Mattel, Valmont

Mukesh Buch
15 Jul, 2011
New York City

Citigroup second quarter net income soared 24% to $3.3 billion. Cubist reported second quarter net loss. Genuine Parts second quarter net income increased 22% to $151.8 million. Google second quarter net income surged to $2.51 billion. Mattel second quarter net increased.

UK Indexes Drop, Brooks Resigns at News International

Bikram Pandey
15 Jul, 2011
New York City

The UK indexes edged lower and Rebekah Brooks resigned as the chief executive officer of News International. News Corp has been reeling under pressure from several UK and U.S. inquiries that may unearth details of one of the longest held practices of phone hacking perfected at the company.

U.S. Consumer Prices Drop, Citi Net Rises 24%; News Corp Fallout

Arthi Gupta
15 Jul, 2011
New York City

U.S. indexes gained after consumer prices dropped 0.2% but industrial production rose in June. Icahn offered to acquire the remaining shares in Clorox in a deal valued at $12.6 billion. Citigroup quarterly net rose 24% despite a drop in revenue.

Euro Area Trade Gap Narrows; German Employment Rises

Arthi Gupta
15 Jul, 2011
New York City

Euro area trade gap narrowed in May after exports rose 1.5%. European new car registrations fell and Swedish home prices remained flat in June. German factory employment increased and Dutch trade surplus rose in May.

Nikkei Inches to 10,000; Yen Near 4-month High

Nigel Thomas
15 Jul, 2011
New York City

Stocks in Japan regained the upper end of the trading range of the last five weeks as the yen hovers near 4-month high. Electronics retailers jumped on the speculation that Japan may revive energy efficiency program as it faces severe power shortage this summer.

European Markets Rest Ahead of Bank Stress Test Data

Arthi Gupta
15 Jul, 2011
New York City

European indexes traded lower ahead of the European Banking Authority tests results later today. Italian Parliament to vote today on a

BHP Billiton Offers $15 Billion for Petrohawk; FBI Investigates News Corp

Marcus Jacob
15 Jul, 2011
New York City

Australian stocks closed lower. BHP Billiton agreed to acquire Petrohawk Energy for $12.1 billion and assume $3 billion in debt. Fortescue Metals production rose 6% in the quarter but costs surged 18%. News Corp woes deepened as lawmakers in the U.S. and UK deepen investigations.

U.S. Stocks Turn Lower, Republicans Feel Debt Talks Stress

Bikram Pandey
14 Jul, 2011
New York City

U.S. indexes retreated after Fed Chairman Ben Bernanke clarified no immediate plan of economic stimulus on the second day of his testimony. President Barack Obama and Republican lawmakers attempt last minute talks to avert government shutdown as August 2 deadline looms.

UK Indexes 1% Lower; Parliament Demands Murdoch Testimony

Arthi Gupta
14 Jul, 2011
New York City

The UK indexes traded lower on global economic concerns. The Irish Finance Minister Michael Noonan said that Ireland has successfully met the targets set out by the EU and the IMF. Irish annual inflation remained steady in June.

Infosys Technologies Q1 Earnings Call Transcript

123jump.com Staff
14 Jul, 2011
New York City

The Indian technology services company said revenue for the quarter grew 23% to $1.67 billion. On an IFRS basis, net quarterly income rose 18% to $384 million. Earnings per American depositary share rose to $0.67 from $0.57 in the prior-year quarter.

U.S. Jobless Claims Fall, Retail Sales Up; JPMorgan Net Rises 13%

Arthi Gupta
14 Jul, 2011
New York City

U.S. indexes edged higher after weekly jobless claims fell 22,000, retail sales rose 0.1% and producer prices slid 0.4% in June. U.S. business inventories rose more than estimated in May. JPMorgan net rose 13% on significantly lower provision for credit losses.

U.S. Movers: ConocoPhillips, Fairchild, JPMorgan, Nexen, Yum Brands

Mukesh Buch
14 Jul, 2011
New York City

ConocoPhillips plans to split its refining and energy exploration businesses. JPMorgan second quarter net increased 13% to $5.4 billion. Nexen second quarter net increased to $252 million. YUM! Brands second quarter net increased 10% to $316 million.

Greece Debt Deeper in Junk; Italian Bond Yield Rises to 4.93%

Arthi Gupta
14 Jul, 2011
New York City

European indexes traded lower after a rating agency downgraded Greece but Italy managed to sell 5-year bond sale at 4.93% yield. Euro-zone annual inflation was stable at 2.7% in June. Lafarge agreed to sell gypsum assets to Belgian Etex for

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