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Market Upheaval: S&P Down 6.7%, Oil Down 7%, Gold Up 4.2%

Bikram Pandey
08 Aug, 2011
New York City

The S&P 500 index plunged 6.6% and the Nasdaq dropped 6.9% after investors reacted on the first day after the debt downgrade. The indexes extended losses of more than 7% last week and are bracing for more correction tomorrow morning. Gold added 4.3% and oil declined 4.5%. European markets fell 4%.

U.S. Movers: Dollar Thrifty, Quicksilver, Tyson Foods, United States Cellular

Mukesh Buch
08 Aug, 2011
New York City

BroadSoft reported second quarter net income of $15.8 million. Quicksilver second quarter net income rose to $109 million. Tyson Foods third quarter net income fell to $196 million. Transatlantic Holdings confirmed a bid from Berkshire Hathaway Inc. to acquire all outstanding shares for $52 each.

U.S. Indexes Plunge 4% on Growing Economic Worries

Darlington Musarurwa
08 Aug, 2011
New York City

The S&P 500 and the Nasdaq dropped 4% in volatile trading after market pessimism grew and investors reacted to the loss of highest rating for the U.S. debt. European markets fell after G7 statement failed to provide more clarity and Germany resisted calls to increase the size of rescue fund.

European Indexes Slide 2%, ECB to Defend Italian, Spanish Bonds

Devan Biswas
08 Aug, 2011
New York City

European markets struggled in the morning trading after investors reacted to the U.S. debt downgrade and the ECB said it will actively participate in defending bonds of Italy and Spain. Resources linked companies led the decliners and the euro traded near its recent levels.

Nikkei Drops 2.2% and Extends Losses for 2nd Day

Nigel Thomas
08 Aug, 2011
New York City

Stocks in Japan fell for the second day after the U.S. debt was downgraded for the first time and Europe faces a rising bill to defend bonds of Spain and Italy. Trading companies declined after oil and base metal fell. Honda edged lower after it announced worldwide recall of 2 million vehicles.

Australian Stocks Drop 3%; Dollar 4-month Low

Marcus Jacob
08 Aug, 2011
New York City

Australian stocks extended losses by 3% and the benchmark index fell for the fifth day in a row to drop below 4,000 for the first time in two years. The benchmark index is down more than 20% from its peak and in bear territory as resources linked companies and banks declined.

Green Mountain Coffee Roasters Q3 Earnings Call Transcript

123jump.com Staff
08 Aug, 2011
New York City

The specialty coffee and coffeemakers company stated net quarterly sales soared 127% to $717.2 million. Net income in the quarter surged 206% to $56.3 million driven by strong revenue growth. Earnings per diluted share rose to 37 cents versus 13 cents per share a year-ago quarter.

S&P Lowers U.S. Debt Rating For the First Time in Seventy Years

Arjun Dave
06 Aug, 2011
New York City

Standard & Poor

U.S. Rally Fizzles and Stocks Gyrate on Improved Jobs View

Bikram Pandey
05 Aug, 2011
New York City

Stocks gyrated in the day with losses and gains as high as 2% after employment picture improved in July. The unemployment rate declined but stayed elevated raising doubts about the economic health. In earnings, AIG swung to profit and Procter & Gamble net rose 15%. European markets trimmed losses.

U.S. Movers: AIG, HollyFrontier, P&G, AES, Washington Post, Viacom

Mukesh Buch
05 Aug, 2011
New York City

AIG reported second quarter net income of $1.84 billion. HollyFrontier second quarter net income soared 191% to $192 million. Imperial Sugar third quarter net loss widened. Procter & Gamble fourth quarter net income increased 15% to $2.51 billion. Viacom third quarter net earnings rose to $574 mn.

FTSE in Correction With 9% Weekly Loss; Prudential Net Doubles

Arthi Gupta
06 Aug, 2011
New York City

The UK indexes slumped 2.7% on Friday, dropped 10% in the week and plunged 14% from the May peak. The UK home prices rose and output price inflation climbed in July. Hunting agreed to acquire TSI Acquisition for $775 million. Prudential first-half net surged but RBS swung to quarterly loss.

Nikkei in Tokyo Drops 3.7%; Yen Floats Near Lows

Nigel Thomas
05 Aug, 2011
New York City

Stocks in Japan plunged after struggling for two weeks and closed down 3.7% on Friday, declined 5.4% in the week and dropped 9% in the year. The rising prospects of the U.S. sliding in recession and Europe

U.S. Payrolls Up 117,000, Indexes Surrender Gains; P&G Net Rises 15%

Arthi Gupta
05 Aug, 2011
New York City

U.S. indexes traded higher after better than estimated employment net gains of 117,000 jobs in July and jobless rate fell to 9.1%. AIG swung to quarterly profit and Procter & Gamble net rose 15%. Priceline.com surged 11%.

German Production Declines; Italy, Spain Economy Expands

Arthi Gupta
05 Aug, 2011
New York City

Industrial production in the euro area was mixed with German output falling unexpectedly in June. French deficit narrowed in June. Swiss inflation eased and Greek inflation slackened in July. Italy''s gross domestic product expanded at 0.3% and Spanish economy eased in the second quarter.

European Markets in Bear Phase; Allianz Net Falls

Arthi Gupta
05 Aug, 2011
New York City

The European markets entered bear phase with the indexes in Italy, Spain and Switzerland hit 2-year lows and near 20% declines from the peaks. UK, France and Germany indexes are down 10% in the year on the growing inability of the euro-zone to tackle debt contagion. Allianz quarterly profit declined.

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