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S&P 500 Index Down Over 3% in Worldwide Plunge; HP Selects Whitman

Bikram Pandey
22 Sep, 2011
New York City

The selling pressure gripped world markets with the U.S. indexes extending losses for the second day in a row and falling more than 3%. Investors were underwhelmed by the talks of appointing Meg Whitman as the next Hewlett Packard chief executive.

U.S. Movers: Bed Bath, FedEx, Red Hat, Scholastic, Vail Resorts

Mukesh Buch
22 Sep, 2011
New York City

Bed Bath second quarter net earnings increased to $229.4 million. FedEx first quarter net income soared 22% to $464 million. Goodrich agreed to be acquired by United Technologies for $18.4 billion.

European Markets Drop 4%; BNP Paribas, Deutsche Bank Plunge

Nichole Harper
22 Sep, 2011
New York City

European market indexes dropped to 26-month low after the batch of latest economic data pointed more weakness. Greece offered more spending cuts and Italy lowered economic outlook. German growth nearly halts. Stada Arzneimittel plunged on one time charge. Automakers and banks fall.

U.S. Indexes in Second Day 3% Loss; Jobless Claims Fall 9,000

Bikram Pandey
22 Sep, 2011
New York City

U.S. indexes dropped 3% for the second day in a row and 10-year Treasury note yield dropped to historic low of 1.76%. Global economic data signaled slowdown in the euro zone and China. Weekly U.S. jobless claims fell to 423,000. Copper, gold and oil fell between 3% and 7%. FedEx trims outlook.

Euro Zone Private Sector Standstill; Italy Lowers Outlook

Devan Biswas
22 Sep, 2011
New York City

The euro zone private growth declined in September with the grim outlook for the rest of the year. Italy lowered its growth views till 2013. Spain home loans fell to a record low in eight years but tourist arrivals surged in August.

Nikkei in Tokyo Drops 2.1%, Softbank Plunges 12%

Nigel Thomas
22 Sep, 2011
New York City

Stocks in Tokyo edged lower as markets in Asia declined after the U.S. Fed action was less than expected. The banks led the decliners after the European risk monitoring agency cited rising risks to financial system. Softbank dropped 12% after it lost its exclusive rights to sell iPhone in Japan.

Australian Index Declined 2.6%: Banks, Miners Lead Decliners

Marcus Jacob
22 Sep, 2011
New York City

Australian markets plunged following a worldwide sell off sparked by the U.S. Fed action to lower long term rates. The Fed move fell short of market expectations and indexes in Japan, India, Hong Kong and China dropped sharply.

U.S. Movers: Adobe, General Mills, IHS, Oracle, Walter Energy

Mukesh Buch
21 Sep, 2011
New York City

Adobe third quarter net income fell to $195.1 million. General Mills first quarter net income decreased 14% to $405.6 million. Realty Income secondary offering of 6 million shares was priced at $34 a share. Walter Energy revised second half 2011 sales expectations.

Australian Stocks Rebound; Foster

Marcus Jacob
21 Sep, 2011
New York City

Stocks in Australia gained after China

U.S. Stocks Lose Momentum; Euro Zone Turmoil Grows

Bikram Pandey
20 Sep, 2011
New York City

The U.S. indexes advanced sharply at the opening but lost all the gains by the close as the Fed rate setting committee wraps up the 2-day meeting tomorrow. The IMF cut sharply the economic growth outlook for the U.S. and Europe and estimated sustained growth rates in emerging nations.

UK Mortgage Lending Expands 6%; Irish Manufacturing Grows

Arthi Gupta
20 Sep, 2011
New York City

The UK indexes rose after gross mortgage lending increased to 25-month high but Irish manufacturing output prices decreased in August. Lloyds Banking Group slumped 4%.

U.S. Housing Starts Fall 5%; IATA Lifts Industry Outlook