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Market Update

U.S. Movers: Accenture, NIKE, Darden Restaurants, KB Home, Steelcase

Mukesh Buch
23 Mar, 2012
New York City

Accenture quarterly net increased 9.5% and lifted revenue outlook. Nike quarterly net rose 7% to $560 million and orders increased 15% to $9.4 billion. Darden Restaurants third quarter net rose to $164.1 million and reaffirmed fiscal 2012 guidance. KB Home first quarter net loss narrowed to $45.8mn.

Australian Markets Struggle; QR National Cuts Earnings View

Marcus Jacob
23 Mar, 2012
New York City

Australian stocks declined and the two benchmark indexes closed nearly unchanged. The dollar declined and retailers continued to struggle as investors looked ahead to the RBA meeting on April 3.

Europe Faces Recession; UK Mortgage Approvals Fall

Arthi Gupta
23 Mar, 2012
New York City

European indexes fell as the euro zone teeters on a recession but France lifted its economic growth outlook for the current year and business confidence improved in March. The UK confidence and mortgage approvals fell in February. Accenture quarterly profit rose 28%.

Broad Sell-off in U.S. Stocks, Gold and Oil on Global Jitters

Bikram Pandey
22 Mar, 2012
New York City

U.S. stocks retreated after investors focused on deepening declines in growth in China and euro zone sentiment worsened indicating mild recession. FedEx reported sharply higher earnings but fell after it estimated slower growth.

Wall Street Falls on Weak Data from China, Europe; Jobless Claims Fall

Nichole Harper
22 Mar, 2012
New York City

U.S. stocks were under pressure after weekly jobless claims declined last week and the index of leading economic indicators increased in February. However economic data from the euro zone prompted worries of recession and Chinese manufacturing weakened for the fifth month in a row.

U.S. Movers: ConAgra, Dollar General, FedEx, GameStop, Lululemon

Mukesh Buch
22 Mar, 2012
New York City

ConAgra third quarter net soared 26% to $271.6 million and reaffirmed fiscal 2012 expectations. Discover Financial first quarter net soared 36% to $624 million as credit rose 9%. Dollar General fourth quarter net increased 7% to $292.5 million. FedEx third quarter net more than doubled to $521 mn.

Nikkei in Tokyo Trim Gains; Trade Balance Swung to Surplus

Nigel Thomas
22 Mar, 2012
New York City

Stocks in Tokyo faced selling in the final hour after Chinese manufacturing declined for the fifth month in a row. Japan exports declined less than expected and trade balance swung to a surplus in February.

Australian Banks Lift Broader Indexes; RBA Defense Sound Hollow

Marcus Jacob
22 Mar, 2012
New York City

Australian stocks traded higher and banks rallied on the hopes of lower interest rate in the next few months after a private survey indicated another monthly slowdown in manufacturing in China.

Weak European Indexes; Hermes Hikes Dividend

Arthi Gupta
22 Mar, 2012
New York City

European indexes declined after euro area private sector activity worsened and Chinese manufacturing output fell in March. The UK retail sales dropped more than estimated in February. Hermes proposed a special dividend of

U.S. Sparked World Rally Struggles; Oil, Gold, Copper Higher

Bikram Pandey
21 Mar, 2012
New York City

U.S. stocks struggled after indexes faced a worry wall as investors digest latest housing data. Existing home sales struggled in February and inventory of unsold homes edged lower. Crude oil, copper and gold headed higher.

U.S. Movers: Actuant, Cintas, FRED

Mukesh Buch
21 Mar, 2012
New York City

Actuant second quarter net soared $32.2 million on sales growth. General Mills third quarter international sale soared 51%. Jabil Circuit second quarter net surged 76% to $97.7 million. Krispy Kreme lifted third quarter outlook. Oracle reported record operating margin and third quarter net rose 18%.

February Home Sales Declined 0.9%; U.S. Stocks Struggle

Nichole Harper
21 Mar, 2012
New York City

U.S. stock indexes edged lower and existing home sales declined 0.9% in February. Median home price inched up 0.3% and inventory of unsold homes rose 4.3% to 2.43 million units, 19.3% from a year ago level.

Nikkei Declines 0.6% in Tokyo

Nigel Thomas
21 Mar, 2012
New York City

The Nikkei index in Tokyo edged lower for the first time in six days and declined from a 34-week high. Crude oil edged up and China linked stocks were under pressure on the first day of trading after a national holiday.

Australian Stocks Fall on Weak Retailers, David Jones Net Drops 20%

Marcus Jacob
21 Mar, 2012
New York City

Australian stocks traded lower for the second day in a row after retailer reported weaker than expected profits and resources stocks fell on cautious views from BHP. David Jones estimated full year net income to fall as much as 40% and Kathmandu first half income declined 43%.

European Indexes Rise; Glencore Acquires Viterra for C$6.1 B

Arthi Gupta
21 Mar, 2012
New York City

European indexes gained. German yield rose and Portuguese yields fell after successful bond auctions today. The UK policymakers split on quantitative easing but were unanimous in holding interest rates. Glencore agreed to acquire Canada-based Viterra for C$6.1 billion.