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Market Update

U.S. Movers: Alcoa, Adtran, Computer Science, Progressive Corp.

Mukesh Buch
11 Apr, 2012
New York City

Alcoa Inc reported better than expected quarterly profit and reaffirmed global demand for aluminum to grow 7% in 2012. Adtran first quarter net tumbled to $13 million. Progressive Corp. first quarter net dropped 29% to $257.6 million. Titan Machinery fourth quarter revenue surged 65%.

U.S. Import Prices Rise; Stocks Rebound Sharply

Arthi Gupta
11 Apr, 2012
New York City

U.S. indexes reversed to gains on Wednesday and import prices rose more than estimated in March. Alcoa quarterly net plunged 69% but surprised investors with a profit. Owens-Illinois jumped 10% after it lifted earnings outlook.

Spanish Output Slumps 5.1%; German Wholesale Prices Ease

Arthi Gupta
11 Apr, 2012
New York City

German wholesale price index and Hungarian annual inflation slowed in March. Spanish industrial output dropped and Estonian deficit widened in February.

German Bond Auction Falls Short; Nokia Plunges 17%

Arthi Gupta
11 Apr, 2012
New York City

The European indexes rebounded but German bond auction failed to meet expectations and bond yields of Spain and Italy fell. Germany raised

Nikkei Losses Total 6.2%; Machinery Orders Up 4.8%

Nigel Thomas
11 Apr, 2012
New York City

The benchmark Nikkei index in Tokyo extended losses for the seventh day totalling 6.2%. Machinery orders jumped in February and the yen strengthened. Bank lending rose in March as reconstruction drive loans demand.

Australian Stocks Look Down; Home Loan Approvals Decline

Marcus Jacob
11 Apr, 2012
New York City

Australian stocks drifted lower for the fourth day in a row as investors focused on the euro zone worries and coal prices continue to drift lower. BHP Billiton announced investment plan of $708 million for its Gulf of Mexico project in partnership with Chevron.

U.S. Indexes Extend Losses to Fifth Day on Euro Zone Worries

Bikram Pandey
10 Apr, 2012
New York City

U.S. stocks fell for the fifth day in a row and indexes lost more than 1% today and extended losses to 4% in the period. Euro zone debt crisis resurfaced as yields surge to a high for the year. Best Buy Co said CEO Brian Dunn resigned and Sony Corp declared annual loss for the fourth year in a row.

UK Indexes Drop 2.2%; Leading Index Rises

Arthi Gupta
10 Apr, 2012
New York City

The UK indexes declined more than 2% after the leading economic index for the UK rose but Irish manufacturing fell in February Home price balance for the UK improved in March.

U.S. Movers: Chesapeake, Patni Computer, PPL, Supervalu, Sony

Mukesh Buch
10 Apr, 2012
New York City

Chesapeake Energy made three separate deals totaling $2.6 billion. Patni Computer first quarter net declined 11.8% to $237 million. PPL to offer 9.9 million shares public offering. Supervalu fourth quarter net loss swung to $424 million. Sony forecast lower sales for fiscal year end March 2012.

Facebook Acquires Instagram for $1 B, AT&T Sells Stake in Yellow Pages

Arthi Gupta
10 Apr, 2012
New York City

U.S. indexes edged lower after wholesale inventories rose more than estimated in February. Facebook agreed to acquire Instagram for $1 billion. Cerberus agreed to acquire AT&T yellow pages division for $1 billion. Supervalu swung to loss.

Spanish Bond Yields at 5.9%; European Markets Drop 1%

Arthi Gupta
10 Apr, 2012
New York City

The European indexes slumped after latest confidence survey showed a decline and bond yields of Spain and Italy gained for the third day in a row. French manufacturing output fell in February. STMicroelectronics plunged 5.9% after lowering its gross margin outlook.

OECD Leading Index Up; German Trade Surplus Jumps 25%

Arthi Gupta
10 Apr, 2012
New York City

The OECD leading index, German trade surplus and French industrial output rose in February however euro zone investor confidence index slumped in April. Swiss jobless rate remained unchanged in March.

Nikkei in 6-Day Slump, Fourth Yearly Loss at Sony

Nigel Thomas
10 Apr, 2012
New York City

Stocks in Japan eased for the sixth day in a row as investors focused on earnings season ahead next week. Sony Corp estimated $6.4 billion annual net loss, fourth yearly loss in a row. The electronics maker is planning to eliminate 10,000 jobs or 6% of its staff.

Australian Stocks Ease on Weak China Import Growth

Marcus Jacob
10 Apr, 2012
New York City

Australian stocks declined for the third day in a row and on the first day of trading after a long weekend. Resources stocks fell after China reported weaker than expected growth in imports. Businesses reported a slight improvement in business conditions in March.

U.S. Movers: AOL, Boeing, ClickSoftware, Greenbrier, Zep

Mukesh Buch
09 Apr, 2012
New York City

AOL deal for patents to Microsoft for $1.06 billion in cash. Boeing deliver four 787-8 Dreamliners to Russian Transaero Airlines for $744 million. Greenbrier second quarter net income swung to $17.7 million.