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Australian Index Up 1.6%; Fortescue Production Increases 5.4%

Marcus Jacob
17 Oct, 2011
New York City

Stocks in Sydney closed higher after metals prices gained in international markets. Qantas continue to struggle with its flight schedule after engineers strike grounded five planes and forced 16 domestic flights cancellation. Super Retail Group agreed to acquire sports goods retailer Rebel Group.

Kinder Morgan to Acquire El Paso for $21 Billion

Arjun Dave
16 Oct, 2011
New York City

Kinder Morgan, Inc agreed to acquire El Paso Pipeline Partners, LP in a deal that valued the company at $20.7 billion and including debt at $37 billion. The combined company is going to be one of the largest transporters of crude oil, natural gas and CO2.

U.S. Stocks Extend 14% Rally; Google Revenues Surge 33%

Nichole Harper
14 Oct, 2011
New York City

U.S. stocks extended gains and the recent rally in place since October 4 lifted the S&P 500 index by 14%. The index is still caught in a narrow trading range. Google earnings and revenue growth exceeded 30% and J.B. Hunt Transport Services quarterly net increased 6%.

U.S. Movers: Apple, Google, Mattel, Microchip, Gap, Valmont

Mukesh Buch
14 Oct, 2011
New York City

Google third quarter net income increased 30% to $2.73 billion. Mattel third quarter net income rose to $300.8 million. Valmont third quarter net earnings soared 53% to $42.1 million.

S&P 500 Index at 2-month High; European Banks in Another Downgrade

Bikram Pandey
14 Oct, 2011
New York City

U.S. indexes extended gains and completed third weekly rise. Crude oil, copper and gold gained. European banks faced another round downgrade after a rating agency lowered its views on French banks. G20 finance officials struggle to convince European leaders to accelerate bank recapitalization plan.

Spain's Rating Lowered, Berlusconi Survives; Clariant , Syngenta Rise

Devan Biswas
14 Oct, 2011
New York City

European markets advanced as G20 leaders urge European leaders to expedite the bank recapitalization plan. A credit rating agency lowered its views on the Spanish debt and lowered the rating for the third time in three years. Italian Prime Minister Silvio Berlusconi won a confidence vote.

Canon, Toyota, Nikon Suffer Production Delays On Thai Floods

Nigel Thomas
14 Oct, 2011
New York City

Stocks in Japan declined as more companies curtail production after Bangkok industrial area suffer one of the worst flood damages in the recent years. Toyota Motor extended production halts at three factories in Thailand. Olympus fired its British born chief executive.

Australian Stocks Turn Lower; Qantas Faces More Strikes

Marcus Jacob
14 Oct, 2011
New York City

Australian indexes declined nearly 1% and caught in a trading range in the last two days after a 3-day rally. Banks were lower on the global banking system worries. Qantas faces more flight disruptions after engineers prepare to walk out tomorrow.

U.S. Stocks Pare Losses; European Markets Weak

Bikram Pandey
13 Oct, 2011
New York City

U.S. stocks pared losses after tech stocks rallied and bond yields edged lower. Crude oil edged lower after the dollar gained against the euro. Gap Inc plans to cut 21% of its stores in North American Gap brand stores before 2013. Google revenues and earnings exceeded expectations.

U.S. Indexes Lower on Weak JP Morgan Earnings

Devan Biswas
13 Oct, 2011
New York City

U.S. stocks declined after JP Morgan said quarterly earnings dropped 33% and set aside $1 billion for securitized mortgage loans litigation. Investors turned cautious after European leaders suggested more losses for banks and said the rescue fund should be accessed as a last resort.

U.S. Movers: Commerce Bancshares, Fastenal, JPMorgan, Safeway, Wal-Mart

Mukesh Buch
13 Oct, 2011
New York City

Commerce Bancshares third quarter net income rose to $65.3 million. Fastenal third quarter net earnings rose 29% to $97 million. JPMorgan third quarter net income fell 4% to $4.3 billion. Safeway third quarter net income increased to $130.2 mn. Wal-Mart updated capital spending and sales forecast.

European Leaders Haggle on EFSF Use; Italy Sells

Nichole Harper
13 Oct, 2011
New York City

European markets declined as leaders work to settle differences in how to use the rescue fund. Germany and at least five other nations are demanding that the facility should be tapped only on the last resort and banks must seek capital in the financial markets first. Italy sold

Japan Stocks Rise on Machinery Orders Increse and Weaker Yen

Nigel Thomas
13 Oct, 2011
New York City

Stocks in Japan gained after machinery orders were better than expected. Exporters advanced after the yen closed down at one month low and financials gained after euro zone leaders promised quicker action to recapitalize banks.

Australian Dollar Higher, Unemployment Drops to 5.2%

Marcus Jacob
13 Oct, 2011
New York City

Australian stocks resumed the advance after the release of jobs data. The unemployment rate in September decreased to 5.2% from 5.3% in August. Rio Tinto said quarterly production of iron ore and coking coal increased but copper and alumina output fell.

S&P 500 Index Up 1%; World Markets Rebound

Bikram Pandey
12 Oct, 2011
New York City

The benchmark indexes in New York gained at least 1% and the Nasdaq flirted near a flat line for the year. Investors shifted focus from the euro zone turmoil to domestic earnings. Commodities gained but closed mixed.

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