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Market Update

UK Indexes 1% Lower; Parliament Demands Murdoch Testimony

Arthi Gupta
14 Jul, 2011
New York City

The UK indexes traded lower on global economic concerns. The Irish Finance Minister Michael Noonan said that Ireland has successfully met the targets set out by the EU and the IMF. Irish annual inflation remained steady in June.

Infosys Technologies Q1 Earnings Call Transcript

123jump.com Staff
14 Jul, 2011
New York City

The Indian technology services company said revenue for the quarter grew 23% to $1.67 billion. On an IFRS basis, net quarterly income rose 18% to $384 million. Earnings per American depositary share rose to $0.67 from $0.57 in the prior-year quarter.

U.S. Jobless Claims Fall, Retail Sales Up; JPMorgan Net Rises 13%

Arthi Gupta
14 Jul, 2011
New York City

U.S. indexes edged higher after weekly jobless claims fell 22,000, retail sales rose 0.1% and producer prices slid 0.4% in June. U.S. business inventories rose more than estimated in May. JPMorgan net rose 13% on significantly lower provision for credit losses.

U.S. Movers: ConocoPhillips, Fairchild, JPMorgan, Nexen, Yum Brands

Mukesh Buch
14 Jul, 2011
New York City

ConocoPhillips plans to split its refining and energy exploration businesses. JPMorgan second quarter net increased 13% to $5.4 billion. Nexen second quarter net increased to $252 million. YUM! Brands second quarter net increased 10% to $316 million.

Greece Debt Deeper in Junk; Italian Bond Yield Rises to 4.93%

Arthi Gupta
14 Jul, 2011
New York City

European indexes traded lower after a rating agency downgraded Greece but Italy managed to sell 5-year bond sale at 4.93% yield. Euro-zone annual inflation was stable at 2.7% in June. Lafarge agreed to sell gypsum assets to Belgian Etex for

Euro-zone Inflation Stable at 2.7%; Hungary Industrial Output Rises

Arthi Gupta
14 Jul, 2011
New York City

Euro-zone inflation remained stable at 2.7% but Italian inflation rose in June. Dutch retail sales eased and Spanish leading index was flat in May. The economic growth forecast of Finland for fiscal year 2010 was revised up to 3.6%.

Japan Stocks Fall on U.S. Debt Worries; Yen Advances to 4-month High

Nigel Thomas
14 Jul, 2011
New York City

Stocks in Japan headed lower and the yen traded volatile after the U.S. debt was placed under a review at a rating agency. The yen rose to a 4-month high of 78.40 against one dollar. Shipping companies led the decliners after the freight rate index fell for the fourth day in a row.

News Corp Faces More Inquiries; Peabody Lifts Macarthur Bid

Marcus Jacob
14 Jul, 2011
New York City

Australian stocks closed lower but resources linked stocks advanced. News Corp was forced to drop its bid to acquire UK based BSkyB after lawmakers united against its bid. Peabody raised its bid for Macarthur and initiated the due diligence process.

U.S. Stocks Up After Bernanke Comments, China GDP Expansion

Bikram Pandey
13 Jul, 2011
New York City

U.S. stocks turned positive after market took a surprise note on the Fed

U.S. Movers: Adtran, Capital One, Kinetic, NovaGold

Mukesh Buch
13 Jul, 2011
New York City

Adtran second quarter net income rose. Capital One second quarter net income surged to $911 million. Kinetic Concepts acquired by consortium valued at $6.3 billion. Validus Holdings agreed to acquire Transatlantic for $55.95 a share.

News Corp. Drops BSkyB Bid; Ireland Debt Downgraded

Arthi Gupta
13 Jul, 2011
New York City

The UK indexes edged higher after China reported positive GDP data. The UK jobless rate was 7.7%. Ireland''s government bonds cut to junk status. News Corp. withdrew its bid for BSkyB after company faces systemic problems with news gathering techniques.

U.S. Import Prices Fall 0.5%; Kinetic Concepts in $6.3 Billion Deal

Arthi Gupta
13 Jul, 2011
New York City

U.S. indexes futures gained after import prices fell 0.5% in June. Applications for U.S. home mortgages slid for the fourth consecutive week. Private equity consortium acquired Kinetic Concepts for $6.3 billion. Electronic Arts agreed to buy PopCap for $750 million.

European Indexes Rest; ASML Net Soars 81%

Arthi Gupta
13 Jul, 2011
New York City

European indexes inched higher after China reported faster than estimated second quarter economic growth. Euro-zone industrial production growth eased to 0.1% in May. ASML net soared 81% and Gerresheimer surged 8% after quarterly earnings increased.

Bank of Japan Adds Japanese Equities; Yen Strengthens to 79

Nigel Thomas
13 Jul, 2011
New York City

Japanese stocks rebounded after the Bank of Japan stepped its purchase of Japanese equities and stronger than expected economic expansion in China. The yen strengthened for the third week in a row and traded below 79 to a dollar and 110 to one euro.

Euro-zone Production Eases 0.1%; German WPI Declines

Arthi Gupta
13 Jul, 2011
New York City

Euro area industrial output eased in May. German wholesale price inflation declined but Spanish inflation eased in June. Norwegian home prices rose in the second quarter. Finnish retail sales increased in May.