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Market Update

U.S. Stocks Advance; Oracle to Buy Taleo for $1.9 Billion

Nichole Harper
09 Feb, 2012
New York City

U.S. stocks traded sideways and 49 states agreed to a settlement with five largest U.S. banks for $26 billion for foreclosure abuses. PepsiCo plans to trim $1.5 billion in cost and Cisco Systems quarterly sales exceeded expectations.

U.S. Movers: Bunge, Cisco, Groupon, PepsiCo, Thomson Reuters, Visa

Mukesh Buch
09 Feb, 2012
New York City

Bunge fourth quarter net dropped to $245 million. Cisco second quarter net surged 44% to $2.2 billion. PepsiCo fourth quarter net increased 4% to $1.42 billion. Thomson Reuters fourth quarter net loss swung to $2.6 billion. Visa first quarter net increased to $1 billion.

European Markets Higher on Greek Agreement, Hermes Sales Up 18%

Devan Biswas
09 Feb, 2012
New York City

European markets closed ahead of the euro zone finance ministers meeting. Greek parties agreed on the broad points of labor reforms and government spending cuts after all night marathon negotiations as Greek economy descends deeper into recession.

Nikkei in Tokyo Sideways; Nissan, Daikin, Nippon Paper in Focus

Nigel Thomas
09 Feb, 2012
New York City

Japanese stock indexes were nearly unchanged and foreign investors added to stocks for the sixth week in a row. Nissan Motor Co said quarterly operating profit increased 3.6%. Daikin Industries Ltd lowered its annual income outlook.

Australian Stocks Ease; Rio Tinto Writes Down Alcan Acquistion

Marcus Jacob
09 Feb, 2012
New York City

Australian stocks eased after China reported a surge in inflation in January. After the close, Rio Tinto said its annual earnings dropped 59% to $5.8 billion after it wrote down its Alcan Aluminum business by $8.9 billion. Tabcorp and News Corp gained on earnings.

Global Markets Look Beyond Greek Saga

Bikram Pandey
08 Feb, 2012
New York City

Global markets Struggled as Greek debt negotiations stall with deadline looming and cost of bailout increase. BHP Billiton reported a record revenues and strong earnings of $9.94 billion in the first half on the sustained Chinese demand for iron ore. Caesars Entertainment public offering shots up.

UK Retail Inflation Drops; Thomas Cook to Divest India Unit

Arthi Gupta
08 Feb, 2012
New York City

The UK indexes traded sideways and the UK shop price inflation fell but permanent job hiring rose for the first time in four months in January. Reckitt Benckiser quarterly net soared 26%. Thomas Cook planned to sell stake in India unit.

U.S. Movers: CVS, Moody

Mukesh Buch
08 Feb, 2012
New York City

CVS fourth quarter income was flat at $1.06 billion and Cognizant fourth quarter net increased to $240 million. Moody

Nikkei Rises Above 9,000 on Toyota Earnings Outlook

Nigel Thomas
08 Feb, 2012
New York City

Stocks in Tokyo gained after Toyota Motor estimated 200 billion profit in the current fiscal year. The Nikkei index closed above 9,000 for the first time in three months on the back of a sustained rise in world market indexes.

U.S. Indexes Struggle; Flat Earnings at Time Warner, CVS, Ralph Lauren

Arthi Gupta
08 Feb, 2012
New York City

The U.S. indexes traded higher on the hopes that Greek negotiations will end as political parties end their differences. U.S. mortgage applications rose 7.5% last week. CVS Caremark, Ralph Lauren and Time Warner reported flat income growth and Sprint Nextel loss widened.

German Exports Slump 4.3%; France Sentiment Stable

Arthi Gupta
08 Feb, 2012
New York City

German exports slumped, and the Danish and Hungarian surplus declined in December. French business sentiment remained stable in January. The National Bank of Poland and Iceland left rates unchanged.

BHP Billiton Profit Falls 6% to $9.94 Billion, Australian Stocks Rise

Mukesh Buch
08 Feb, 2012
New York City

BHP Billiton, the largest Australian company reported earnings declined 6% in the six month period on the fall in iron ore prices and rising operating costs. Separately, Rio Tinto announced expansion of $3.4 billion in Western Australia. In trading, Australian stocks advanced.

European Markets Rise Despite Greek Economic Collapse

Arthi Gupta
08 Feb, 2012
New York City

European markets gained as Greek economy deteriorates and Germany sold

Dow Inches to 2008 High, Nasdaq at New Peak in a Decade

Bikram Pandey
07 Feb, 2012
New York City

U.S. stocks traded higher as investors focused on the earnings from global corporations Yum Brands, Becton Dixon, Coca-Cola and Arcelor Mittal. The merger agreement between Glencore and Xstrata received lukewarm reception from minority shareholders.

UK Retail Sales Ease; GSK Swings to Profit, BP Hikes Dividend

Arthi Gupta
07 Feb, 2012
New York City

The UK indexes slid and crude oil was in focus as the European markets turned cautious as Greek negotiations dragged on. Retail sales in the United Kingdom eased in January. BP quarterly net soared 38% and GlaxoSmithKline swung to profit.