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Greek Worries Spark Global Selloff, Oil Below $90

Bikram Pandey
23 May, 2012
New York City

World markets felt the pain of the rising probabilities of Greek exit from the euro zone as leaders in Europe gather. The widespread loss around the globe dragged indexes in the U.S. down 1.5% and in Europe between 2% and 3.6%. Oil and gold fell and yields of German and U.S. bonds dropped near lows.

Nikkei Slides to a 4-month Low, BoJ on Hold

Nigel Thomas
23 May, 2012
New York City

Stocks in Japan fell sharply after the central bank left its interest rate range and asset purchase program intact but shifted its stance from the monetary policy easing. Exporters and automakers fell. Mazda Motor Corp gained on the prospect of a strategic deal with Fiat SpA.

U.S. and World Markets Trade Lower on Euro Zone Worries

Arthi Gupta
23 May, 2012
New York City

U.S. and global indexes slumped as Greece and Europe bond stress regained investor focus. Google completed acquisition of Motorola Mobility. Scotiabank agreed to sell Scotia Plaza for approximately $1.27 billion.

Australian Index Drops 1.3%, Myer Falls 8%

Marcus Jacob
23 May, 2012
New York City

Australian stocks fell on the rising worries in the euro zone and faltering growth of imports from China. Australian dollar declined to a new low for the year. Myer slumped 8% after the retailer reported weaker than expected sales and earnings and lowered its annual outlook.

European Indexes Drop 2% as Leaders Gather

Arthi Gupta
23 May, 2012
New York City

The European indexes slumped 2% as European leaders gather in Brussels to discuss Greece and possible growth measures and consumer sentiment in Italy dropped to the lowest on record. The UK retail sales fell in April. Cove Energy accepted

U.S. Stocks Struggle as Home Sales Rise, SAP Offers $4.3 B for Ariba

Bikram Pandey
22 May, 2012
New York City

U.S. stocks struggled to hold gains and previously occupied home sales increased 4.3% in April and median home price jumped. The broad increase in home sales lifted sentiment but caution prevailed after growth outlook in Europe was lowered. SAP AG agreed to acquire Ariba for $4.3 billion.

U.S. Movers: AutoZone, Best Buy, Express, Medtronic, Express, Ralph Lauren

Mukesh Buch
22 May, 2012
New York City

AutoZone third quarter net increased 9% to $248.6 million. Best Buy first quarter net declined 25% to $158 million. Edgar Online agreed to be acquired by Donnelley for $70.5 Million. Medtronic fourth quarter net soared 28% to $991 million. Ralph Lauren fourth quarter net surged 29% to $94.4 million.

Euro Area Growth Estimate Lowered; Accor Sells Motel 6

Arthi Gupta
22 May, 2012
New York City

The European indexes gained more than 1% and the OECD lowered euro area growth forecast and Greece is expected to extend recession in the sixth year in 2013. The UK annual consumer price inflation eased in April. Accor agreed to sell Motel 6 to Blackstone for $1.9 billion.

Nikkei in Tokyo Extends Gains

Nigel Thomas
22 May, 2012
New York City

Stocks in Tokyo extended gains for the second day in a row and exporters were in focus after the yen weakened a fraction and political leaders in the euro zone and China supported growth measures. Resources linked companies closed higher. Renesas Electronics is planning to cut 15% of its workforce.

Australian Indexes Rise on Global Hopes; Leighton, GrainCorp Rise

Marcus Jacob
22 May, 2012
New York City

Australian index gained more than 1% and the dollar traded below the U.S. dollar parity. Leighton Holdings, the global infrastructure group reiterated its annual earnings outlook between $400 million and $450 million. GrainCorp lifted its annual earnings estimate by as much as 11%.

Wall Street Higher on Retail Earnings; Japan, Euro Zone in Focus

Arthi Gupta
22 May, 2012
New York City

U.S. indexes traded higher after retailers reported better than expected earnings but caution prevailed after the estimate of growth in the euro zone were lowered and Japan debt rating was lowered. BestBuy, AutoZone and Williams Sonoma reported better than expected earnings.

Merger Deals of $25 Billion Lift World Indexes

Bikram Pandey
21 May, 2012
New York City

U.S. indexes gained after trading at a 4-month low on Friday. Political leaders in Europe ratcheted up rhetoric of supporting Greece in the euro zone and China said it will support more growth measures. Merger deals of $25 billion were announced today.

U.S. Movers: BlackRock, Campbell Soup, Eaton, Lowe

Mukesh Buch
21 May, 2012
New York City

Campbell Soup third quarter net slipped 5.3% to $177 million. Chinese conglomerate to acquire AMC for $2.6 billion. Eaton acquired Cooper Industries for $11.8 billion. Lowe

Yahoo! Sells Alibaba Stake; DaVita, HealthCare in $4.4 Billion Deal

Arthi Gupta
21 May, 2012
New York City

U.S. indexes gained on the merger announcements. Alibaba agreed to repurchase partial Yahoo! stake for $7.1 billion. DaVita agreed to acquire HealthCare Partners for $4.42 billion. China-based Wanda agreed to buy AMC Entertainment for $2.6 billion and Eaton Corp agreed to buy Cooper Industries.

Nikkei Attempts Rebound, Fanuc Up

Nigel Thomas
21 May, 2012
New York City

Stocks in Tokyo rebounded after a steep loss on Friday and seven consecutive weeks of losses in the benchmark Nikkei index. Fanuc gained after the company plans to expand production capacity of robotics machinery.

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