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Market Update

German Confidence Falls, UK Economy Contracts

Arthi Gupta
25 Jul, 2012
New York City

The European indexes traded higher and German business confidence fell more than estimated in July. The UK economy contracted in the second quarter. Cheung Kong led consortium agreed to buy MGN Gas Networks for $1 billion.

U.S. Indexes Sideways, PepsiCo Net Falls 21%

Arthi Gupta
25 Jul, 2012
New York City

U.S. indexes traded sideways after Apple Inc missed earnings forecast. Ford and PepsiCo reported quarterly declines in earnings but Boeing net rose 3% in the quarter.

Apple Drops 6%, Netflix Plunges 11%

Devan Biswas
24 Jul, 2012
New York City

Apple Inc dropped as much as 6% in aftermarket trading after it reported lower than expected earnings. Netflix plunged 14% after it estimated a quarterly loss.

Global Markets, Euro in 3-Day Decline; Apple Seeks $2.5 B in Damages

Bikram Pandey
24 Jul, 2012
New York City

Global markets extended losses for the third day in a row and the U.S. indexes accelerated declines. The euro fell to a new two-year low. Metals and energy prices also fell. Apple Inc and Samsung Electronics filed patent infringement suits in California.

U.S. Movers: Ametek, Air Products, EMC, VMware, Wipro

Mukesh Buch
24 Jul, 2012
New York City

Ametek second quarter net surged 21% and Air Products third quarter net soared 48%. Coca-Cola Enterprises second quarter net declined 17% and EMC net soared 19% to $649.5 million. VMware second quarter net declined 13% and agreed to acquire Nicira, Inc. for $1.05 billion in cash.

U.S. Movers: AT&T, Biogen, DuPont, Illinois Tool, United Parcel

Mukesh Buch
24 Jul, 2012
New York City

AT&T second quarter net increased on higher sales of smart phones. Biogen third quarter net soared 34% to $386.8 million. DuPont net fell and said earnings may slide. Illinois Tool second quarter net advanced 77%. United Parcel lowered full year outlook.

UK Mortgage Approvals Drop, Man Group Slips to Loss

Arthi Gupta
24 Jul, 2012
New York City

The UK indexes slid after debt pressures intensified in the euro zone. The UK mortgage approvals declined unexpectedly in June. Anglo American agreed to acquire a 58.9% interest in a metallurgical coal project in Mozambique.

Nikkei Drops to 6-Week Low

Nigel Thomas
24 Jul, 2012
New York City

Stocks in Japan inched lower on the widening debt contagion in Spain and a downgrade on the advanced nations in the currency union. Toshiba declined 5% after the chipmaker plans to cut flash memory production by 30%. Sharp dropped to another 34-year low.

Euro Zone Worries Drag Indexes in New York, UPS Cuts Outlook

Arthi Gupta
24 Jul, 2012
New York City

U.S. indexes edged lower as global markets remained focused on the euro zone debt pressures. Cisco planned to slash 1,300 jobs. Whirlpool swung to quarterly profit and EMC Corp second quarter net rose 19%. After the close, Apple is scheduled to release earnings.

Australian Iron Ore Export Prices Fall Extends to Eighth Month

Marcus Jacob
24 Jul, 2012
New York City

Australian stocks rebounded after a private survey showed an increase in Chinese manufacturing activities in July. Export price of iron ore declined for the eighth month in a row. Billabong received another takeover offer at a reduced valuation.

Greek and Spanish Worries Intensify in Euro Zone

Arthi Gupta
24 Jul, 2012
New York City

The European indexes traded sideways in thin trading and debt pressures intensified in the region. Spain raised

Europe Movers: SAP, Software AG, KPN, STMicro, Norsk Hydro

Arthi Gupta
24 Jul, 2012
New York City

The telecom operator KPN said quarterly net declined 24%. Norsk Hydro, the aluminum maker said second quarter revenues fell 13% and swung to a net loss. SAP AG said second quarter sales rose 18% and net increased 12% and Software AG said revenues barely budged 1%.

Euro Area Private Sector Contracts, French Confidence Falls

Arthi Gupta
24 Jul, 2012
New York City

The euro-zone private sector economy contracted and French business confidence fell in July. Hungarian retail sales declined in May. Spanish producer price inflation eased in June.

World Markets Slide 1% to 5% on Merger Monday

Bikram Pandey
23 Jul, 2012
New York City

Global markets plunged on the growing speculation that Spain may be forced to ask a larger bailout ans the crisis deepens. U.S. indexes closed down 1% and recovered from the earlier losses of 2% and European markets plunged between 3% and 5%. Pete

Nikkei Drops 1.9% to Lowest in Six Weeks

Nigel Thomas
23 Jul, 2012
New York City

Nikkei index in Tokyo plunged the most in six weeks in light trading as investors lowered expectations in the euro zone as Spanish crisis broadens in the economy. Print makers declined after Xerox lowered its outlook. Resources linked stocks fell.