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Infosys Soars 16% on Revenue Guidance and Flat Q3 Profit

Mukesh Buch
11 Jan, 2013
New York City

Bajaj Corp third quarter net profit soared 46% and CMC net profit jumped 24%. Infosys third quarter net profit was nearly flat at $434 million. Power Grid raised $500 million in its first foreign currency public offering.

India Movers: Engineers India, Gujarat NRE Coke, Infosys, Rolta

Mukesh Buch
10 Jan, 2013
New York City

Engineers India declined as government approved disinvestment plan. Gujarat NRE Coke net profit soared. Infosys is scheduled to report third quarter earnings on January 11. Rolta arm wins contract of $31 million. VKS Projects board approved stock split.

U.S. Movers: PriceSmart, Ruby Tuesday, Supervalu, Texas Industries

Mukesh Buch
10 Jan, 2013
New York City

Emmis Communications third quarter net plunged 92%. PriceSmart first quarter net surged 43%. Ruby Tuesday second quarter net loss widened. Supervalu third quarter net swung to profit. Texas Industries second quarter net loss narrowed.

U.S. and European Markets Retain Positive Tone on Earnings Optimism

Bikram Pandey
09 Jan, 2013
New York City

Stocks in New York extended European market gains on the corporate earnings optimism. Italy led the gains in European markets advance and reported record unemployment for the second month in a row. German industrial production barely budged. Nikkei in Japan rose on stimulus hopes.

Stocks in New York Open Higher, Morgan Stanley to Trim 1,600 Traders

Nichole Harper
09 Jan, 2013
New York City

Stocks on Wall Street gained after Alcoa reported better than expected quarterly results. Market indexes participated in a broad rally that lifted consumer and industrial and tech stocks. Morgan Stanley plans to trim 1,600 staff in its institutional securities business.

Arcelor Plans $3.5 Billion Offering, Shire Reaffirms 2012 Estimate

Nigel Thomas
09 Jan, 2013
New York City

ArcelorMittal plans to raise $3.5 billion in stock and convertible bond offering to cut $17 billion debt load. Telecom stocks in the region fell on the speculation that companies may be permitted to share infrastructure. J Sainsbury declined on weak same store sales growth.

German Industrial Production Rises 0.2%, Record Italian Jobless Rate

Barry Randall
09 Jan, 2013
New York City

European markets advanced across the region and Germany reported weaker than expected increase in industrial output. Italian unemployment held steady at record in November. ArcelorMittal plan to raise $3.5 billion through stock and convertible bond offering.

U.S. Movers: Alcoa, AZZ, Celgene, Clearwire, Global Payments

Mukesh Buch
09 Jan, 2013
New York City

Alcoa fourth quarter net swung to $242 million profit. Apollo Group plunged 10% after quarterly net declined 11%. AZZ third quarter net soared 15%. Clearwire received unsolicited offer from Dish Network. Global Payments second quarter net soared 15%.

Yen Pullback Lifts Nikkei Again, Seven & I Net Rises

Nigel Thomas
09 Jan, 2013
New York City

Two month old rally in Tokyo stocks continued after the yen edged lower and international investors added net positions to Japanese stocks. Education stocks soared on the hopes of a tax exemption for grandchildren schooling gift. Resource sector stocks led the gainers.

Australian Retail Sales Ease 0.1%, New Home Sales Rise 4.7%

Marcus Jacob
09 Jan, 2013
New York City

Australian stocks closed higher after international investors stepped up buying. New home sales increased for the second month in November and retail sales declined in the month.

India Movers: Bharti Airtel, Chemfab, Coal India, IndusInd Bank

Mukesh Buch
09 Jan, 2013
New York City

Bank of India rallied on the fund raising plan. Bharti Airtel increased 25% price on data plans. IndusInd Bank third quarter net profit jumped 29.8%. Western India Shipyard secured orders valued $3 million.

U.S. Indexes Accelerate Declines, AIG to Sue Govt for Bailout

Nichole Harper
08 Jan, 2013
New York City

Broader market indexes declined tracking losses in Europe and Asia. AIG plans to join others and suing government for bailout that saved the insurer. Sears comparable same store sale plunged 13% and said that the chief executive is leaving.

Nikkei Declines 0.9% on Yen Volatility

Nigel Thomas
08 Jan, 2013
New York City

Stocks in Tokyo eased for the second day in a row and the yen struggled to rebound. The Nikkei declined 0.9% and the yen closed at 87.51 to a dollar. Prime Minister Shinzo Abe is expected to announce a broad stimulus package and press for higher inflation target with the Bank of Japan.

Australian Deficit Surges to a Record in November, Housing Market Weak

Marcus Jacob
08 Jan, 2013
New York City

Australian stocks closed lower as financials and miners led the decliners. Trade deficit surged a record high in November as imports rose faster than exports. Iron ore prices rebounded to a 15-month high.

U.S. Movers: Acuity Brands, Generali, IHS, Monsanto, Sears

Mukesh Buch
08 Jan, 2013
New York City

Acuity Brands first quarter net dropped 13% and acquired Adura Technologies. IHS fourth quarter net climbed 100% and Monsanto net jumped 169%. Sears expects fiscal year loss and Edwad Lampert will assume additional role as the chief executive.

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