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U.S. Earning Outlook Powers 3-day Rally; Pepsi Up 3%, Liz Claiborne Soars

Nichole Harper
12 Oct, 2011
New York City

Wall Street opened higher following the gains in Europe and on positive domestic earnings expectations. PepsiCo, Inc gained 3% after it met lowered earnings outlook and Alcoa Inc fell 3% on an earnings miss. The Nasdaq index trimmed its losses for the year to 1.3% and the S&P 500 index to 3.5%.

U.S. Movers: Alcoa, Adtran, Host Hotels, Liz Claiborne, NeuStar, PepsiCo

Mukesh Buch
12 Oct, 2011
New York City

Alcoa third quarter net income increased 21% to $172 million. Liz Claiborne agreed to sell its brands to retailers J.C. Penney and Kohl''''s. PepsiCo third quarter net income rose 4% to $2 billion.

Europe's Industrial Production Up 1.2%; Record UK Unemployment

Devan Biswas
12 Oct, 2011
New York City

European markets rebounded and looked beyond Slovakia vote. Miners and industrial companies gained after August industrial production surged across the region from a year ago. German 30-year bond failed to attract investors and the ECB lent $1.35 billion in emergency loans to only six banks.

Thai Flooding Affect Japanese Automakers; Machinery Orders Soar 11%

Nigel Thomas
12 Oct, 2011
New York City

Japanese stocks declined and machinery order in August increased more than expected in August. Toyota and Honda reported widespread production stoppages in Thailand after a third of country is devastated by the flooding.

Australian Rally Halts; BHP Approves $1.2 Billion for Olympic Dam

Marcus Jacob
12 Oct, 2011
New York City

Australian stocks halted a 5-day rally after metals prices declined in overnight trading in world markets. BHP committed $1.2 billion in capital for the first phase of Olympic Dam project that will quadruple copper production. JB Hi-Fi quarterly comparable sales fell 3.5%.

Wall Street in Lackluster Trading; Slovakia Rejects Rescue Fund Expansion

Bikram Pandey
11 Oct, 2011
New York City

U.S. stocks drifted and investors digested promises of quick resolution to the banking recapitalization plan in the euro zone. Slovakian lawmakers rejected the measure to expand the rescue fund and also triggered the fall of the coalition government.

European Markets Drift; Slovak Decision in Focus

Devan Biswas
11 Oct, 2011
New York City

European markets closed lower as Slovakian lawmakers debate to approve the expansion of the European rescue fund. Greece said inspectors from troika completed the their mission and approved the release of sixth tranche of aid. A Ukrainian court convicted former prime minister Tymoshenko.

U.S. Movers: 99Cents, Dollar Thrifty, Mistras Group, Jones Apparel

Mukesh Buch
11 Oct, 2011
New York City

99Cents Only agreed to be acquired by Ares Management and Canada Pension Plan. Dollar Thrifty decided not to seek a buyer. The Jones Group confirmed the discussions with Israel based Delta Galil Industries to sell its Jeanswear division.

U.S. Stocks Struggle; 99 Cents in LBO; Dollar Thrifty to Stay Independent

Devan Biswas
11 Oct, 2011
New York City

Stocks in New York traded sideways as European leaders set the deadline of October 23 to announce bank recapitalization plan. 99 Cents Only agreed to be taken private and Dollar Thrifty declined 2% after it decided to remain independent after eighteen months of searching for a buyer.

Nikkei Index Soars 2%; Japan's Current Account Surplus Drops 64%

Nigel Thomas
11 Oct, 2011
New York City

Stocks in Japan soared after a 3-day weekend. Current account surplus declined for the sixth month in a row to $5.3 billion. Toyota sales in China increased 11% in September. Takashimaya Corp revised earnings outlook and Nidec increased its share buyback plan.

Australian Stocks in 5-day Rally, Dollar Trades Near Parity

Marcus Jacob
11 Oct, 2011
New York City

Australian stocks for the fifth day in a row and resource stocks led the gainers. The Australian dollar traded above parity with the U.S. dollar in intra-day trading. Banks gained and resource linked stocks closed mixed.

U.S. Indexes Surge on the Euro-zone Banks Recap Talks

Bikram Pandey
10 Oct, 2011
New York City

U.S. indexes soared and banks surged 6% after European leaders offered more promises. Market sentiment may dent if politicians fail to deliver on their promises. Banks in Europe were in focus after the largest bank was nationalized. Slovakia vote on the rescue fund may offer a surprise.

U.S. Movers: AT&T, Complete Production, Netflix, Sprint Nextel, Yahoo

Mukesh Buch
10 Oct, 2011
New York City

AT&T received pre-orders of 200,000 for iPhone 4S in the first 12 hours. Complete Production agreed to be acquired by Superior Energy in cash and stock for $6.2 billion. Netflix decided to reverse its earlier decision to split. Scotts Miracle-Gro lowered annual earnings outlook for the third time.

Wall Street Rallies 3%; Complete Production in $2.6 Billion Deal

Nichole Harper
10 Oct, 2011
New York City

Stocks in early trading in New York surged more than 3% after France and Germany reiterated their support to recapitalize banks. Banks, materials and transportations stocks led the rally. Complete Production Services soared 34% after it agreed to a $2.6 billion bid.

Belgium, France Nationalize Dexia; Erste Bank $1 Billion Loss

Devan Biswas
10 Oct, 2011
New York City

European markets jumped on the hopes that Germany and France will follow through the promises to facilitate bank recapitalization plan. Slovakia is set to vote on the expansion of the European rescue fund. Erste Bank announced

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