ticker

Educomp Sells Eurokids Stake, PVR to Buy Cinemax

Mukesh Buch
08 Jan, 2013
New York City

Educomp agreed to sell its 50% stake in Eurokids International Limited. PVR purchased controlling stake in Cinemax. United Spirits said UK based Diageo plc postponed the purchase of 26% additional stake scheduled on January 7.

U.S. Banks Settle Foreclosure Abuses for $8.5 Billion, Indexes Ease

Nichole Harper
07 Jan, 2013
New York City

Stocks were on the defensive on Wall Street after broader indexes gained to a five-year high on Friday. Bank of America agreed to settle claims with Fannie Mae for $10 billion and ten banks agreed to pay $8.5 billion to end foreclosure abuse claims.

Europe Movers: BNP, Deutsche Bank, Faurecia, Rolls-Royce

Nigel Thomas
07 Jan, 2013
New York City

Banks led the gainers in European trading after Basel Committee capitulated to banking industry lobby in revised capital standards implementation. Rolls Royce fell 1.6% after the UK regulator hold bribery inquiry. Faurecia gained 7% on hopes that controlling shareholder Peugeot may sell its stake.

European Markets Slide, Banks Lead Gainers

Barry Randall
07 Jan, 2013
New York City

European markets traded lower but banks led the gainers after Basel Committee capitulated to pressure from large global banks and eased implementation of new capital and liquidity rules.

U.S. Movers: Athenahealth, Bank of America, Illumina, Nationstar Mortgage

Mukesh Buch
07 Jan, 2013
New York City

Athenahealth agreed to acquire Epocrates Inc for $293 million in cash. Bank of America settled $3.6 billion mortgage claims with Fannie Mae. Illumina agreed to purchase Verinata Health, Inc. for $350 million. Nationstar acquired $215 billion mortgage service rights from Bank of America.

Nikkei Drops 0.8%, Cerberus to Sell Aozora Bank Stake

Nigel Thomas
07 Jan, 2013
New York City

Stocks in Tokyo turned lower after a sharp rally in the last four sessions in a row as the yen paused from its decline. Aozora Bank plunged after its controlling shareholder Cerberus Capital filed to sell its stake.

Australian Markets Trend Lower on Softer Metals Prices

Marcus Jacob
07 Jan, 2013
New York City

Australian markets eased following softer resource prices. Lynas said it is set to ship from its controversial rare earth processing refinery in Malaysia. Whitehaven Coal rebounds after it resumes trading that knocked off 9%.

Ashoka in $150 M Deal, PNB Wins Metlife India Stake Approval

Mukesh Buch
07 Jan, 2013
New York City

Havells India revised trademark license agreement with its promoter. Indraprastha Gas raised cooking gas price in Delhi area. Marico split its Kaya unit as Marico Kaya Enterprises Ltd. Mahanagar Telephone Nigam delisted from New York Stock Exchange.

December Discounts Force Retailers to Lower Earnings Outlook

Mukesh Buch
05 Jan, 2013
New York City

Retailers reported rising sales but consumers held out for deep discounts late in the month and forcing at least 7 major chains to cut earnings outlook. Of the 17 chains, 5 reported a decline in same store sales and 11 chains sales advanced.

U.S. Movers: A. Schulman, Amicus, Accuray, Gap, Mosaic, Sonic

Mukesh Buch
04 Jan, 2013
New York City

A. Schulman first quarter net declined 13%. Accuray offered weak outlook for the second quarter. Gap acquired Intermix for $130 million in cash. Mosaic second quarter net slid as sales declined 16%. Finish Line third quarter net swung to loss.

Modest Employment Gains in December, Durable Orders Revised Higher

Nichole Harper
04 Jan, 2013
New York City

Stocks in early trading in New York lacked direction after a modest increase in net new jobs in December. Manufactured goods orders increased slightly in November but durable goods orders were revised higher.

Tokyo Markets Reopen with Nikkei Surging 2.8%

Nigel Thomas
04 Jan, 2013
New York City

Stocks in Tokyo played catch up with the rest of the Asian markets and the yen declined to a new low in nearly three years. The Nikkei surged 2.8% and the Topix added 3.3%. Autos and industrial machinery makers led the gainers.

Australian Stocks Halt 2-Day Rally

Marcus Jacob
04 Jan, 2013
New York City

Australian stocks declined for the first time in 3-days tracking lower international markets. Private sector credit availability was at the weakest in 19-months according to the latest data from the RBA.

Jet Air in Deal Talks to Sell 24% Stake to Etihad

Mukesh Buch
04 Jan, 2013
New York City

Bharti Infratel is selected for FTSE global indexes from January 7. Jet Airways is in deal talks to sell 24% stake to Abu Dhabi based Etihad Airways. Airline sector in India is reeling with losses on record high fuel and low ticket prices.

Stocks Turn Lower in New York, Divided Fed Policymakers

Bikram Pandey
03 Jan, 2013
New York City

Attention on Wall Street shifted to the upcoming debt negotiations and traders turned cautious. U.S. auto sales jumped 12.5% in 2012 and sales of new cars are expected to reach 15 million units in 2013. Retailers posted higher holiday sales on deep discounts.

Market Update