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U.S. Indexes Close Higher; Hurricane Irene Worries

Bikram Pandey
26 Aug, 2011
New York City

U.S. indexes traded higher and gold and silver gained. Crude oil declined after Hurricane Irene approached East Coast of the U.S. Financial markets and government offices shut down early in the preparation of storm. Fed Chairman Bernanke offered no new measures to stimulate the economy.

U.S. Movers: Aruba, Micros, OmniVision, Pandora, Tiffany

Mukesh Buch
26 Aug, 2011
New York City

Aruba fourth quarter net income rose to $68.2 million. Micros fourth quarter net income soared 22.6% to $41.5 million. Royal Bank of Canada reported third quarter net loss of C$156 million. Tiffany second quarter net earnings increased 33% to $90.04 million.

UK GDP Expands 0.2%; Service Index Rises

Arthi Gupta
26 Aug, 2011
New York City

The UK indexes edged lower after economic growth slowed to 0.2% in the second quarter and service output increased in June. Home prices in England and Wales declined in July. Daimler and Rolls-Royce received final approval for Tognum acquisition.

U.S. GDP Growth Lowered; Tiffany Net Rises 33%

Arthi Gupta
26 Aug, 2011
New York City

U.S. indexes traded sideways after economic growth estimate was lowered to 1% and consumer sentiment dropped to the level last seen in November 2008. BHP Billiton completed acquisition of Petrohawk Energy. Tiffany quarterly net soared 33% on revenues rise of 30%.

Japan Stocks Waver; Prime Minister Kan Resigns

Nigel Thomas
26 Aug, 2011
New York City

Stocks in Japan wavered as Prime Minister Naoto Kan resigned and paved the way for the sixth prime minister in five years. The yen flirted near recent highs and banks and exporters traded volatile.

French Jobless Rate Rises; Spanish Economy Expands 0.2%

Arthi Gupta
26 Aug, 2011
New York City

Euro-zone money supply improved, French jobless rate rose, German import prices increased and Swedish surplus climbed in July. Swiss economic indicator fell in August. Spain

Italy Sells

Arthi Gupta
26 Aug, 2011
New York City

European indexes declined for the second day in a row on the growing sentiment that Germany and France may lose their highest debt rating. Italy sold

Australian Stocks Volatile; Lend Lease Net Soars 43%

Marcus Jacob
26 Aug, 2011
New York City

Stocks in Australia fell and the benchmark index declined 2.4% in the week. Lend Lease Group fiscal year net soared 43% on 15% lower revenues. The exchange operator ASX Ltd replaced its chief executive. Fairfax Media swung to an annual loss and will list its New Zealand based auction site Trade Me.

U.S. Stocks Drop 1.6%; German Debt Top Rating Reaffirmed

Bikram Pandey
25 Aug, 2011
New York City

U.S. indexes dropped 1.6% after weekly jobless claims rose and markets in Europe closed lower. Three rating agencies reaffirmed the AAA status of German debt and France, Spain and Italy extended ban on short selling banks. BofA soared more than 12% after Berkshire Hathaway agreed to $5 billion.

Berkshire Invests $5 Billion in Bank of America

Arthi Gupta
25 Aug, 2011
New York City

Berkshire Hathaway Inc. announced to invest $5 billion in Bank of America. The conglomerate will buy 50,000 preferred shares at 6% dividend with a buyback clause at 5% premium. With the deal Buffett will become one of the largest shareholders of Bank of America.

U.S. Movers: Applied Materials, Big Lots, Guess, Fred

Mukesh Buch
25 Aug, 2011
New York City

Applied Materials third quarter net income soared to $476 million. Big Lots second quarter net income rose to $35.7 million. Guess second quarter net earnings fell 9% to $60.7 million. TiVo second quarter net loss widened to $19.5 million.

UK Indexes Drop; Petropavlovsk Swings to Profit

Arthi Gupta
25 Aug, 2011
New York City

The UK indexes declined after retail sales fell in August. The UK and Switzerland agreement on taxes increase the reach of UK government. U.S.-based SPX agreed to acquire CLYDEUNION Pumps for

U.S. Jobless Claims Rise; Apple CEO Quits

Arthi Gupta
25 Aug, 2011
New York City

U.S. indexes traded sideways after weekly jobless claims rose 5,000 to 417,000. SPX agreed to acquire CLYDEUNION Pumps for $1.15 billion. Renaissance Learning received $15.50 a share takeover offer. Steve Jobs resigned as CEO of Apple that he co-founded and turned it the most valued U.S. company.

Nikkei in Tokyo Rebounds 1.5%; Banks, Exporters Lead

Nigel Thomas
25 Aug, 2011
New York City

Stocks in Tokyo trading rebounded and the yen weakened a fraction. Exporters and trading companies gained. Energy and resource linked companies advanced as the oil firmed. Banks rebounded a day after Japanese government debt was lowered.

German Sentiment Declines; Swiss Confidence Slumps

Arthi Gupta
25 Aug, 2011
New York City

German consumer sentiment forecasted to weaken in September. Spanish producer price inflation rose in July. Dutch producer sentiment decelerated, Swiss investor confidence slumped, and Iceland inflation remained flat in August. Swedish jobless rate and economic sentiment fell.

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