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Market Update

UK Stocks Decline; M&S Net Rises

Arthi Gupta, Mayank Mehta and Sanjay Barot
25 May, 2010
New York City

The UK benchmark index dropped but recovered from the lows of the day. UK services output growth eases slightly in March and first quarter GDP rises to 0.3% on an upward revision in manufacturing. Marks and Spencer Group plc net up.

EMC, Sara Lee Fall; Goldman Sachs Rises

Mayank Mehta
25 May, 2010
New York City

AutoZone, Inc. led gainers in the S&P 500 index with a rise of 3.8%. Medtronic profit up sharply and revenue tops $4 billion. Donaldson''s quarterly net income jumps 86%. Phillips-Van Heusen swings to first quarter loss.

IBM Pays AT&T $1.4 Billion for Sterling Commerce

Chandrasekhar Atreya
25 May, 2010
New York City

IBM agrees to acquire Sterling Commerce in a definitive agreement from AT&T for $1.4 billion in an all cash deal. The addition of this business-to-business firm to IBM

European Markets Tumble 3%

Arthi Gupta, Mayank Mehta and Sanjay Barot
25 May, 2010
New York City

Markets in Europe plunged after the IMF issued a warning for Spain and rising tensions in the Korean peninsula kept buyers on the sidelines. Investors overlooked the rise in the euro-zone industrial orders. Poland Central Bank leaves key interest rate at record low of 3.5%.

China Indexes Plunge on Global Worries

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
25 May, 2010
New York City

Stocks in China fell again after concern that property tax in Shanghai could stoke curbs even as European debt crisis worry continued to persist.

Australian Dollar Drop 11% in May

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
25 May, 2010
New York City

The Australian dollar slipped for the second day as investors sold high-yielding assets on concern debt crisis in Europe may escalate and tensions rise between the two Koreas. The dollar has so far dropped 11% in May after commodity prices slumped and equity market took a beating.

Nikkei in Japan Drop 3.1%

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
25 May, 2010
New York City

Stocks fell in Japan as the yen rose against the euro and the dollar on growing signs of stress faced by European financial institutions. The Nikkei 225 Stock Average fell to its lowest close in almost six months.

Sensex in India Plunges 2.7%

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
25 May, 2010
New York City

The Sensex index plunged as investors sold shares on concern that Europe

U.S., World Markets on the Edge

Arthi Gupta, Mayank Mehta and Sanjay Barot
25 May, 2010
New York City

Global and U.S. stocks plunge after the IMF warns of financial conditions in Spain and rising tensions in Korean peninsula. Commodities and crude oil dropped sharply. US, China pledge economic cooperation.

Saks Q1 Earnings Call Transcript

123jump.com Staff
25 May, 2010
New York City

Sales rose 7% to $667.4 million & net income was $18.8 million or 11 cents a share. Gross margin rate improvement up 440 basis points to 43.1% this year from 38.7% in last year''s first quarter. The company''s operating margin expanded to 7.1% in the quarter from 0.4% in the prior-year first quarter.

Afternoon Selloff in NY; Gold Rises

Arthi Gupta, Mayank Mehta and Sanjay Barot
24 May, 2010
New York City

Stocks in New York trading declined on the fears of fiscal and financial crisis in the euro-zone. Traders overlooked the rise in existing home sales in April increase 7.6% to 5.77 million, the best in five months. Investors ignored the sharp gains in China and Australia.

U.K. Chancellor Slashes Spending

Arthi Gupta
24 May, 2010
New York City

U.K. Chancellor of the Exchequer George Osborne today detailed a

Equity One Agrees to Acquire Capital & Counties

Chandrasekhar Atreya
24 May, 2010
New York City

North Miami-based investment trust, Equity One has agreed to acquire Capital & Counties, the US unit of Capital Shopping Centers Group Plc through a $600 million joint venture transaction.

Gentiva Health to Acquire Odyssey HealthCare

Chandrasekhar Atreya
24 May, 2010
New York City

Gentiva Healthcare Services agrees to acquire Odyssey Healthcare in an all cash transaction of $1 billion to provide a leading hospice and healthcare company.

UK Stocks Weak on Euro-Zone Worries

Arthi Gupta, Mayank Mehta and Sanjay Barot
24 May, 2010
New York City

U.K. stocks decline amidst concerns about the euro-zone debt crisis. U.K. Chancellor plans