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U.S. Stocks Trend Lower Despite Stronger Earnings

Nichole Harper
06 Feb, 2013
New York City

U.S. stocks traded sideways after investors digested better than expected earnings from Ralph Lauren, Time Warner and Walt Disney. The euro edged lower ahead of the ECB meeting tomorrow and Spanish bond auction. Oil and copper traded mixed.

U.S. Movers: ArcelorMittal, BP, Cummins, CVS, Glaxo, Time Warner

Mukesh Buch
06 Feb, 2013
New York City

ArcelorMittal fourth quarter net loss widened and BP net plunged 78%. Cummins net tumbled 30% on weaker sales and CVS Caremark net climbed 7% to $1.13 billion. Glaxo net declined 34% and Time Warner net surged 51%. Disney net declined 6%.

RBS Agreed to $612 Million Libor Probe Fines

Nigel Thomas
06 Feb, 2013
New York City

Royal Bank of Scotland Group Plc agreed to pay the second largest fine linked to the Libor probe to the regulators in the U.S. and U.K. The bank narrowly avoided the criminal charges and its Japanese unit was also snared in the investigation.

European Markets Await ECB Decision, Spanish Bond Auction

Barry Randall
06 Feb, 2013
New York City

European markets traded cautious ahead of the European Central Bank meeting and closely watched Spanish bond auction tomorrow that may raise as much as

Europe Movers: Vinci, Virgin, Volvo

Barry Randall
06 Feb, 2013
New York City

Banks across the region were under pressure ahead of the European Central Bank meeting tomorrow. Vinci SA declined 4% after it reported weaker than expected 2012 results and guided flat sales in the current year. Volvo AB gained on improving outlook in the U.S. and Europe.

Liberty Global and Virgin Media in $16 Billion Deal

Barry Randall
06 Feb, 2013
New York City

Liberty Global Inc agreed to acquire U.K. cable television services provider Virgin Media Inc for $16 billion in cash and stock. Including the debt, the deal is valued at $23.3 billion.

Nikkei Soars 3.8%, Yen Drops on Shirakawa Early Departure

Hiruki Nakamura
06 Feb, 2013
New York City

Stocks and market indexes in Tokyo soared after the BOJ Governor Shirakawa announced his departure ahead of schedule. The yen dropped to a new low in the year and the Nikkei staged a sharpest single-day rally in two years and lifted the Nikkei to a 4-year high.

Australian Stocks Resume Advance, Weak Retail Sales Drag Dollar to New Low

Marcus Jacob
06 Feb, 2013
New York City

Australian stocks closed higher and retail sales in December fell more than expected. The Australian dollar fell to its lowest level in the year so far. REA Group gained after profit rose 25%.

India Movers: Indian Government to Sell $2.2 Billion Stake in Utility NTPC

Mukesh Buch
06 Feb, 2013
New York City

Apollo Tyres third quarter net surged 73% and Bajaj Electricals net plunged 64.4%. IRB Infrastructure net soared 38.5% and Jindal Saw net jumped 64.3%. Indian government will sell 9.5% stake NTPC to raise $2.2 billion.

U.S. Stocks Rebound, Dell Goes Private in $24.4 Billion Deal

Nichole Harper
05 Feb, 2013
New York City

Stocks, sectors and indexes shot up in the early trading. Dell agreed to go private in a deal that valued the company at $24.4 billion. Service sector expanded in January according to a private survey. European markets advanced. Becton Dickinson, Cardinal Health, MasterCard and Virgin Media gained.

U.S. Movers: Archer-Daniels, Becton Dickinson, Cardinal Health, Kellogg

Mukesh Buch
05 Feb, 2013
New York City

Archer-Daniels second quarter net surged more than six-fold and Becton, Dickinson net climbed 14%. Cardinal Health net advanced 16% and Eaton Corp net plunged 51%. NYSE net dropped 19% and Kellogg loss narrowed. Estee Lauder net jumped 13%.

European Markets Rebound on Service Growth, BP in Focus

Barry Randall
05 Feb, 2013
New York City

European markets rebounded after plunging the most this year. The latest read on the service sector offered improving snapshot across the euro zone but the growth rates diverged between Germany and France. Italian bond yields crossed 4.5%.

Europe Movers: Alfa Laval, ARM, BP, KPN, Munich Re, Tele2

Barry Randall
05 Feb, 2013
New York City

BP Plc reported quarterly earnings that exceeded estimates but also cited lower production in 2013 on divestment and issued 9 cents a share quarterly dividend. ARM Holdings gained after the chip maker reported 19% increase in sales. KPN plunged 22% after it plans to ask shareholders $4 billion.

Nikkei Halts 5-Day Rally, Yen Crosses 93

Hiruki Nakamura
05 Feb, 2013
New York City

Nikkei 225 Average halted a 5-day rally after investors booked profit. Hitachi Ltd lowered its full-year operating income by 18%. Japan Airlines Co gained after it estimated higher net. Fast Retailing Co said same store sales fell in January by 5.5%.

Australian Rates on Hold, Transurban Hikes Dividend

Marcus Jacob
05 Feb, 2013
New York City

Australian stocks eased the Reserve Bank left the key rate at record low 3%. Central bank also cited inflation within its target range and left impression of future rate cut at its next meeting in May. Transurban hiked dividend. Cochlear returned to profit.

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