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Market Update

U.S. Movers: Cognizant, DISH Network, EchoStar, LIN TV, Sysco, Tyson Foods

Mukesh Buch
07 May, 2012
New York City

Cognizant Technology first quarter net rose 17% to $243.7 million but lowered current quarter outlook. Carl Icahn controlled fund agreed to acquire CVR Energy in cash for $2.6 billion. DISH Network first quarter net declined 34% to $360 mn. Sysco said third quarter net was nearly flat to $259.6 mn.

Nikkei Plunges 2.8%, Gree, DeNA Tumble 20%

Nigel Thomas
07 May, 2012
New York City

Stocks in Tokyo plunged after election results in Greece and France prompted more worries in the euro zone. Resources linked companies fell after crude oil eased to a 4-month low and fell below $100 a barrel for the first time in the period.

Markets Stay Calm After Political Shuffle in Europe

Arthi Gupta
07 May, 2012
New York City

U.S. indexes declined after election results in France and Greece. The U.S. Treasury priced $5 billion of offering of AIG stake to reduce its stake in the insurer.

Australian Indexes Dive 2% on Global Worries

Marcus Jacob
07 May, 2012
New York City

Australian indexes declined more than 2% on the global slowdown worries after the election results in Europe. Australian retail sales were ahead of expectations in March but new jobs ads declined in April according to a private survey.

German Factory Orders Rise, Spanish Output Plunges 10.4%

Arthi Gupta
07 May, 2012
New York City

German factory orders increased 2.2% but Spanish output plunged 10.4% in March. Swiss consumer prices declined for the seventh straight month but jobless rate rose in April. The UK jobless rate forecasted to rise over the next five years.

France Elects Hollande, Greece Heading for Coalition

Arthi Gupta
07 May, 2012
New York City

The European indexes edged lower after France elected its first Socialist president in 17 years and Greece is heading for coalition government talks that may drag on for ninety more days. QSC plunged after quarterly net plummeted 65%.

Weekly Loss of 2.1% in S&P 500 and 2.9% in Nasdaq

Bikram Pandey
04 May, 2012
New York City

In New York trading on Friday, indexes accelerated declines in the afternoon and closed down between 1% and 2%. For the week, the Nasdaq fell nearly 3% and the S&P 500 index declined 2.1%. Crude oil traded below $100 a barrel for the first time in three months.

U.S. Movers: AIG, Duke Energy, Exelon, LinkedIn, AES, PPL Washington Post

Mukesh Buch
04 May, 2012
New York City

American International Group first quarter net surged 147% to $3.2 billion. Duke Energy first quarter net tumbled 42% to $295 million and Exelon plunged 70% to $200 million. Spectra Energy first quarter net soared 35% to $541 million and AES rose 7% to $515 million.

UK Home Prices Drop 2.4%, Rentokil Plummets 5%

Arthi Gupta
04 May, 2012
New York City

The UK indexes slumped after home prices dropped more than estimated and new car registrations rose in April. Irish output fell for the second straight month in March. Warner Chilcott swung to quarterly profit.

U.S. Jobless Rate at 8.1%, Net New Jobs Additions Slows to 115,000

Arthi Gupta
04 May, 2012
New York City

U.S. indexes fell after employers added less jobs than estimated in April as the weather played a key role in altering hiring pattern and the unemployment rate declined. Affymetrix and eBioscience amended merger agreement. LinkedIn agreed to acquire SlideShare for $118.75 million.

Australian Lowers Growth Outlook Ahead of Budget on Monday

Marcus Jacob
04 May, 2012
New York City

Reserve Bank of Australia trimmed growth and inflation expectations for the year and said growth in the mining sector were offset by the weakness in hospitality, retail and manufacturing. Australian government is set to target budget surplus in its latest budget on May 8.

Euro Area Economic Outlook Weakens, French Service Sector Shrinks

Arthi Gupta
04 May, 2012
New York City

Euro area retail sales rebounded in March but service sector activity disappointed in April with a contraction in France and Spain. Spanish jobless rate declined in April.

European Service Sector Slumps, Swiss Re Swings to Profit

Arthi Gupta
04 May, 2012
New York City

The European indexes edged lower ahead of regional elections this weekend and weaker-than-estimated service sector growth. Mixed earnings did not lift investor sentiment either despite Linde and BNP Paribas reporting better than expected results.

Wall Street Lower on Weak Sentiment, ECB Holds Rates

Bikram Pandey
03 May, 2012
New York City

U.S. indexes traded lower after weekly jobless claims fell to one-month low and the service industry expanded at a slower pace in April. Green Mountain Coffee plunged 46% after it lowered its earnings outlook. European Central Bank left rates at 1%.

U.S. Movers: American Tower, BCE, Cigna, GM, Sara Lee, Teradata, Viacom

Mukesh Buch
03 May, 2012
New York City

American Tower first quarter net surged 141% and raise earnings outlook. General Motors first quarter net tumbled 69% and lifted full year view. Teradata first quarter net soared 40%. Viacom second quarter net surged 56% to $585 million.