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Australian Stocks Higher, James Hardie Returns to Profit on Tax Win

Marcus Jacob
21 May, 2012
New York City

Australian stocks rebounded and closed higher after G8 leaders urged Greece to stay in the currency union and honor its financial commitment. James Hardie returned to profitability on one-time tax gain. Resource stocks closed higher.

Euro Area Construction Output Rebounds, Spanish Yields Rise

Arthi Gupta
21 May, 2012
New York City

The European indexes gained after G8 leaders reiterated their support for Greece. Euro area construction output rebounded in March and home prices in the UK rose in April. Ryanair slumped 4% on weak fiscal year outlook. Kabel Deutschland agreed to buyTele Columbus for

Weekly Losses of 4% in U.S. Indexes, Facebook IPO Falters

Bikram Pandey
18 May, 2012
New York City

The U.S. indexes extended losses and closed lower and for the week, the S&P 500 index dropped 4.1% and the Nasdaq tumbled 5%. Facebook on the first day of trading needed underwriter support to prevent the stock falling below its offer price. World markets extend losses for the fourth week.

U.S. Movers: Ann, Donaldson, Foot Locker, Salesforce.com, Gap

Mukesh Buch
18 May, 2012
New York City

Ann first quarter net rose 5% and lifted second quarter outlook. Donaldson third quarter increased 15% to $70.9 million. Foot Locker first quarter net surged 36% to $128 million. Salesforce.com first quarter net swung to $19.5 million loss. The Gap first quarter net was flat at $233 million.

Wall Street Higher Ahead of Facebook Debut

Arthi Gupta
18 May, 2012
New York City

U.S. indexes climbed in early trading ahead of Facebook debut and traders focus on the meeting of the Group of Eight leading nations that begins today. The euro edged lower and commodities traded volatile.

Nikkei Drops to Five-Month Low

Nigel Thomas
18 May, 2012
New York City

Stocks in Japan declined sharply after global economic growth worries mounted and the euro zone uncertainties rose as Spanish banks face another round of capitalization. Exporters declined and the euro dropped to a three month low. For the week the Nikkei index dropped 3.8%.

Australian Indexes in Worst Weekly Loss in Eight Months

Marcus Jacob
18 May, 2012
New York City

Australian stocks traded lower and the benchmark index closed down 2.7% on Friday and plunged 5.6% in the week. The weekly loss was the worst in the last eight months. The Australian dollar traded near the low of the year.

Jittery European Markets Trade Lower, LSE Soars 5%

Arthi Gupta
18 May, 2012
New York City

The European indexes extended losses for the fourth week and politicians across the region express confidence in the euro even after Greek exit. ArcelorMittal agreed to sell its steel distribution business to Nucor for $605 million. DSM agreed to acquire Ocean Nutrition Canada for C$540 million.

U.S. Indexes Deepen Losses, Facebook to Raise $16 Billion

Bikram Pandey
17 May, 2012
New York City

Stocks in New York trading declined and S&P 500 index extended losses for the fifth day in a row. The euro zone turmoil and the growing contagion risk in the region dragged markets on both sides of the Atlantic. Facebook is expected to price its public offering at $38 a share and raise $16 billion.

U.S. Movers: Buckle, Cato, Dollar Tree, Ross Stores, Sears, Wal-Mart

Mukesh Buch
17 May, 2012
New York City

Dollar Tree first quarter net increased 15% to $116 million. Sears first quarter net swung to $189 million profit and plan for a partial spin-off. Ross Stores first quarter net soared 21% to $208.6 million and Wal-Mart increased 10% to $3.74 billion.

U.S. Weekly Jobless Claims Flat, Wal-Mart Net up 10%

Arthi Gupta
17 May, 2012
New York City

U.S. indexes traded lower tracking the European markets. U.S. weekly jobless claims were nearly unchanged at 370,000 and foreclosure activity fell in April. Agilent agreed to acquire Denmark-based Dako for $2.2 billion and Boyd Gaming agreed to buy Peninsula Gaming for $1.45 billion.

Japan GDP Expands in March Quarter, Volatile Stocks in Tokyo

Marcus Jacob
17 May, 2012
New York City

Stocks in Tokyo rebounded in choppy trading after GDP in the last fiscal quarter to March increased 4.1% from a year ago. The GDP declined 0.01% in the year after exports plunged on supply chain disruptions. Toshiba said it will stop making television sets in Japan as the unit declares a loss.

Weak Miners and Banks in Australia; CBA Net Jumps 3%

Mukesh Buch
17 May, 2012
New York City

Australian stocks made a feeble attempt to rebound as mining and banking stocks traded volatile. BHP walked out of a mining venture in north Queensland and said the project is unviable. Coalworks asked shareholders to reject a takeover bid.

Spain Enters Recession, Italian Economy Likely to Shrink

Arthi Gupta
17 May, 2012
New York City

The European indexes fell on the ongoing worries in Greece. Spain returned to recession in the first quarter. The International Monetary Fund estimates the Italian economy to contract this year. E.ON agreed to sell its gas transmission company to a consortium for about

U.S. Movers: Agilent Technologies, Groupon, Home Depot, Saks, TJX

Mukesh Buch
15 May, 2012
New York City

Agilent Technologies second quarter net surged 28% and lifted outlook. Groupon first quarter net loss narrowed 92% and guided second quarter revenue to increase between 40% and 50%. Home Depot first quarter net increased 28% to $1.04 billion and TJX surged 58% to $419.2 million.

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