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Market Update

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.

U.S. Movers: Genesee, GenCorp, Eaton, Halliburton, McDonald

Mukesh Buch
23 Jul, 2012
New York City

Cnooc agreed to buy Nexen for $15 billion. Genesee agreed to acquire RailAmerica for $1.39 billion. Halliburton second quarter net slid. McDonald

UK Indexes Slump 2.3%, Household Finance Index Decline Slows

Arthi Gupta
23 Jul, 2012
New York City

UK indexes extended world markets decline as the debt crisis in the euro zone resurface and the Libor scandal widens to regulators. UK household finance index rose in July and manufacturing sector is expected to contract this year.

Weak Metals, World Markets Drag Australian Indexes 1.7%

Marcus Jacob
23 Jul, 2012
New York City

Australian indexes plunged 1.7% as markets in Asia declined. World markets turned cautious after fears rose that Spain may be sliding towards a full blown bailout as crisis moves from the banking industry turmoil to economic decline.

Wall Street Down 2%, CNOOC, Nexen in $15.1 B Deal

Arthi Gupta
23 Jul, 2012
New York City

Wall Street extended global decline and dropped 2%. CNOOC agreed to acquire Canada-based Nexen for $15.1 billion. NRG and GenOn are in a $1.7 billion deal. Talisman Energy sells 49% equity interest in UK North Sea Assets. DigitalGlobe and GeoEye agreed to merge.

Spanish Worries Sink European Markets 3%

Arthi Gupta
23 Jul, 2012
New York City

Market indexes in Germany and France plunged more than 3% as Spanish yield soared to a new record. The indexes in Madrid plunged 3.8% and in Italy dropped 5%. Spain lowered economic outlook for next year. China-based Citic agreed to buy CLSA from Credit Agricole for $1.25 billion.