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Australian Unemployment Steady at 5.1%

Marcus Jacob
07 Jun, 2012
New York City

Australian stocks advanced for the third day in a row after the latest jobs report showed healthy gains in May. Employers added 50,000 net new jobs in May after adjusting for seasonal factors and unemployment rate held steady at 5.1%.

S&P 500 Index Jumps 1.8%; Gold, Oil Rise

Bikram Pandey
06 Jun, 2012
New York City

U.S. indexes soared as investors shifted their focus to domestic companies and impending earnings season next week. Financials and industrials were in demand. Nasdaq OMX Group approved a plan to set aside $40 million to pay for losses from mishandled Facebook public offering.

U.S. Movers: Bob Evans, Cyberonics, Fastenal, Home Depot, Vail Resorts

Mukesh Buch
06 Jun, 2012
New York City

Bob Evans fourth quarter net soared 20% to $22 million and Cyberonics surged 57% to $11 million. Fastenal said May sales grew 18.4% to $274.8 million. Iron Mountain pursues conversion to a REIT. Home Depot reaffirmed sales and earnings guidance for the current year.

Rates on Hold in Europe, EC Proposes Bank Recovery Plan

Devan Biswas
06 Jun, 2012
New York City

European markets advanced after the central bank held its key lending rate at 1% and announced more liquidity measures and highlighted downside economic risks. The estimate of GDP growth in the March quarter in the euro zone was held flat. German production declined 2.2% in March.

U.S. Indexes Rise, Productivity Estimate Lowered

Arthi Gupta
06 Jun, 2012
New York City

U.S. indexes inched ahead on the hopes on new stimulus measures. The European Central Bank left its key interest rate unchanged for June. News Corp. agreed to acquire 50% stake in ESPN STAR Sports. Home Depot reiterated its current year outlook.

Japanese Stocks Advance, Nintendo Falls

Nigel Thomas
06 Jun, 2012
New York City

Stocks in Tokyo rebounded and export sensitive sectors led the surge after the service sector in the U.S. expanded at a faster rate and Australia reported strong GDP growth. Nintendo edged lower after the latest product release disappointed analysts.

Strong GDP Growth in Australia on Household Spending Strength

Marcus Jacob
06 Jun, 2012
New York City

Australian economy expanded at 1.3% in the March quarter and registered its second best growth rate in the last five years. The surprise strength in the household spending added to the strong investment in the mining sector. Four largest banks failed to pass along the latest rate cut.

Wall Street Turns Higher on Service Data, G7 Quiet on Steps

Bikram Pandey
05 Jun, 2012
New York City

U.S. stocks traded higher after service industry expanded at a faster pace in May and G7 leaders failed to agree on specific steps to arrest widening financial contagion in the euro zone. Spanish bonds spread traded above 5% to German bunds. Commodities were under pressure.

U.S. Movers: Dollar General, G-III Apparel, United Natural Foods

Mukesh Buch
05 Jun, 2012
New York City

Dollar General first quarter net surged 36% to $213.4 million and lifted outlook and G-III Apparel reported first quarter net loss widened to 53%. United Natural Foods third quarter net soared 24% to $29 million and update fiscal guidance.

World Markets Look Ahead to G7 Meeting, Spain in Focus

Arthi Gupta
05 Jun, 2012
New York City

U.S. and world markets were hesitant as G7 finance ministers and central bankers hold an emergency meeting to discuss widening financial contagion in the euro zone. Belden agreed to acquire Canada-based Miranda Technologies for C$345 million. Oracle agreed to buy Collective Intellect.

European Retail Sales Fall, German Orders Decline

Devan Biswas
05 Jun, 2012
New York City

European markets traded mixed and looked ahead for a statement from the G7 meeting today. Spain regained market focus after Treasury minister warned that rising bond yields will effectively shut Spain from credit markets. The euro declined and German orders fell 1.9% in April.

Nikkei Rebounds 1%, Fast Retailing Plunges 9%

Nigel Thomas
05 Jun, 2012
New York City

Stocks in Tokyo rebounded in weak trading ahead of a meeting of G7 finance ministers. Fast Retailing Co plunged 9% after it reported May same store sales plunged 10%. Two card board products makers, Rengo and Tomoku dropped after regulators launch price fixing investigation.

Rate Lowered in Australia, Qantas Estimates Net to Fall 91%

Marcus Jacob
05 Jun, 2012
New York City

Australian stocks rebounded after the Reserve Bank of Australia lowered cash rate by 25 basis points in a preemptive move as financial markets sentiment deteriorated in the last eight weeks. Qantas plunged 18% after it estimated its full year net profit to plunge 91% from a year ago.

Losses Accumulate in Global Markets, S&P 500 Down 10% from Peak

Bikram Pandey
04 Jun, 2012
New York City

U.S. markets extended losses after G7 finance ministers announced emergency meeting tomorrow to discuss widening euro zone debt crisis. The benchmark index fell 10% from its peak in April. Commodities declined for the fifth week in a row and crude oil prices fell to a new low.

U.S. Movers: AutoNation, Salesforce.com, Vanguard Natural, WellPoint

Mukesh Buch
04 Jun, 2012
New York City

AutoNation May sales surged 45% and the retailer Conn''s lifted its annual outlook. Salesforce.com agreed to acquire Buddy Media for $689 million and Vanguard Natural agreed to acquire energy assets for $445 million. WellPoint offered $900 million in cash for 1-800 Contacts.

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