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Australian Index in Negative Territory

Marcus Jacob
25 May, 2012
New York City

Australian stocks closed lower and the ASX 200 index erased gains of the year and closed down 0.7% for the year. The index has steadily lost all its gains in the last two months after commodities prices eased on the rising prospects of a global slowdown.

Global Markets Struggle on Lowered Expectations

Bikram Pandey
24 May, 2012
New York City

U.S. stocks extended losses as global economic conditions weaken. The latest economic indicators in German, euro zone and China indicated a slowdown in manufacturing and service sector and falling confidence. UK recession was deeper than previously estimated. Oil rebounded and the dollar gained.

U.S. Movers: Costco, Heinz, HP, NetApp, Signet Jewelers, Tiffany

Mukesh Buch
24 May, 2012
New York City

Costco third quarter net soared 19% to $386 million but Heinz fourth quarter net plunged 22% to $175.3 million. HP second quarter net plunged 31% to $1.6 billion and announced a layoff of 27,000. NetApp offered a cautious outlook. Tiffany first quarter net was lower than expected.

U.S. Weekly Jobless Claims Drop; HP to Slash 27,000 Jobs

Arthi Gupta
24 May, 2012
New York City

U.S. weekly jobless claims fell 2,000 to 370,000 and durable goods orders rose 0.2% in April. General Mills agreed to acquire Brazilian food maker Yoki and HP planned to slash 27,000 jobs. Tiffany and NetApp plunged on earnings worries.

Yen Strength, Euro Worries Add to Nikkei Volatility

Nigel Thomas
24 May, 2012
New York City

Stocks in Japan traded volatile and the yen held its ground as investors focused on the Chinese manufacturing slowdown and growing uncertainties in the euro zone. Nikkei is set to decline for the eighth week in a row and has fallen 17% from its peak on March 27.

Australian Dollar Sinks Ahead of Uridashi Bonds Rollover

Marcus Jacob
24 May, 2012
New York City

Australian stocks eased as resource prices fell and crude oil declined below $90 a barrel. Qantas plans to add 90,000 new seats capacity in the next two months mostly on the domestic routes. Australian dollar traded at a six month low as bonds floated in Japan are scheduled for a rollover this week.

European Markets Rebound as Euro Zone Crisis Boils

Arthi Gupta
24 May, 2012
New York City

European markets traded higher as leaders failed to agree on a plan to revive growth in the region. German business confidence fell more than estimated in May manufacturing and services sector shrank. The UK economy contracted more than expected in the first quarter.

U.S. Movers: American Eagle, Bank of Montreal, Dell, Guess, Hormel Foods

Mukesh Buch
23 May, 2012
New York City

American Eagle first quarter net rose 6% and lifted outlook. Analog Devices second quarter net plunged 33% on weak revenue. Bank of Montreal second quarter net soared 27% to $1.03 billion. Dell first quarter net declined 33% to $635 million.

Greek Worries Spark Global Selloff, Oil Below $90

Bikram Pandey
23 May, 2012
New York City

World markets felt the pain of the rising probabilities of Greek exit from the euro zone as leaders in Europe gather. The widespread loss around the globe dragged indexes in the U.S. down 1.5% and in Europe between 2% and 3.6%. Oil and gold fell and yields of German and U.S. bonds dropped near lows.

Nikkei Slides to a 4-month Low, BoJ on Hold

Nigel Thomas
23 May, 2012
New York City

Stocks in Japan fell sharply after the central bank left its interest rate range and asset purchase program intact but shifted its stance from the monetary policy easing. Exporters and automakers fell. Mazda Motor Corp gained on the prospect of a strategic deal with Fiat SpA.

U.S. and World Markets Trade Lower on Euro Zone Worries

Arthi Gupta
23 May, 2012
New York City

U.S. and global indexes slumped as Greece and Europe bond stress regained investor focus. Google completed acquisition of Motorola Mobility. Scotiabank agreed to sell Scotia Plaza for approximately $1.27 billion.

Australian Index Drops 1.3%, Myer Falls 8%

Marcus Jacob
23 May, 2012
New York City

Australian stocks fell on the rising worries in the euro zone and faltering growth of imports from China. Australian dollar declined to a new low for the year. Myer slumped 8% after the retailer reported weaker than expected sales and earnings and lowered its annual outlook.

European Indexes Drop 2% as Leaders Gather

Arthi Gupta
23 May, 2012
New York City

The European indexes slumped 2% as European leaders gather in Brussels to discuss Greece and possible growth measures and consumer sentiment in Italy dropped to the lowest on record. The UK retail sales fell in April. Cove Energy accepted

U.S. Stocks Struggle as Home Sales Rise, SAP Offers $4.3 B for Ariba

Bikram Pandey
22 May, 2012
New York City

U.S. stocks struggled to hold gains and previously occupied home sales increased 4.3% in April and median home price jumped. The broad increase in home sales lifted sentiment but caution prevailed after growth outlook in Europe was lowered. SAP AG agreed to acquire Ariba for $4.3 billion.

U.S. Movers: AutoZone, Best Buy, Express, Medtronic, Express, Ralph Lauren

Mukesh Buch
22 May, 2012
New York City

AutoZone third quarter net increased 9% to $248.6 million. Best Buy first quarter net declined 25% to $158 million. Edgar Online agreed to be acquired by Donnelley for $70.5 Million. Medtronic fourth quarter net soared 28% to $991 million. Ralph Lauren fourth quarter net surged 29% to $94.4 million.

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