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U.S. Rally Fizzles and Stocks Gyrate on Improved Jobs View

Bikram Pandey
05 Aug, 2011
New York City

Stocks gyrated in the day with losses and gains as high as 2% after employment picture improved in July. The unemployment rate declined but stayed elevated raising doubts about the economic health. In earnings, AIG swung to profit and Procter & Gamble net rose 15%. European markets trimmed losses.

U.S. Movers: AIG, HollyFrontier, P&G, AES, Washington Post, Viacom

Mukesh Buch
05 Aug, 2011
New York City

AIG reported second quarter net income of $1.84 billion. HollyFrontier second quarter net income soared 191% to $192 million. Imperial Sugar third quarter net loss widened. Procter & Gamble fourth quarter net income increased 15% to $2.51 billion. Viacom third quarter net earnings rose to $574 mn.

FTSE in Correction With 9% Weekly Loss; Prudential Net Doubles

Arthi Gupta
06 Aug, 2011
New York City

The UK indexes slumped 2.7% on Friday, dropped 10% in the week and plunged 14% from the May peak. The UK home prices rose and output price inflation climbed in July. Hunting agreed to acquire TSI Acquisition for $775 million. Prudential first-half net surged but RBS swung to quarterly loss.

Nikkei in Tokyo Drops 3.7%; Yen Floats Near Lows

Nigel Thomas
05 Aug, 2011
New York City

Stocks in Japan plunged after struggling for two weeks and closed down 3.7% on Friday, declined 5.4% in the week and dropped 9% in the year. The rising prospects of the U.S. sliding in recession and Europe

U.S. Payrolls Up 117,000, Indexes Surrender Gains; P&G Net Rises 15%

Arthi Gupta
05 Aug, 2011
New York City

U.S. indexes traded higher after better than estimated employment net gains of 117,000 jobs in July and jobless rate fell to 9.1%. AIG swung to quarterly profit and Procter & Gamble net rose 15%. Priceline.com surged 11%.

German Production Declines; Italy, Spain Economy Expands

Arthi Gupta
05 Aug, 2011
New York City

Industrial production in the euro area was mixed with German output falling unexpectedly in June. French deficit narrowed in June. Swiss inflation eased and Greek inflation slackened in July. Italy''s gross domestic product expanded at 0.3% and Spanish economy eased in the second quarter.

European Markets in Bear Phase; Allianz Net Falls

Arthi Gupta
05 Aug, 2011
New York City

The European markets entered bear phase with the indexes in Italy, Spain and Switzerland hit 2-year lows and near 20% declines from the peaks. UK, France and Germany indexes are down 10% in the year on the growing inability of the euro-zone to tackle debt contagion. Allianz quarterly profit declined.

Australian Markets Plunge 4% Tracking Weak Global Markets

Marcus Jacob
05 Aug, 2011
New York City

The Australian benchmark index plunged 4% following a worldwide sell-off that wiped out between 3% and 5% in most markets. The Australian index is down 19% from its peak and markets in Italy, Spain and Switzerland are down more than 20% in three months.

U.S., European Markets Plunge 5%; Budget Cuts Worries Reality

Bikram Pandey
04 Aug, 2011
New York City

The U.S. indexes plunged 4.8% as the reality of the Republican Party demanded budget cuts sets in. European markets also plunged as much as 5% as the debt contagion spreads to bigger nations, Span and Italy. Crude oil dropped 5% and gold and silver eased. Yields on 10-year Treasury declined to 2.6%.

U.S. Movers: Apache, BCE, GM, Kraft Foods, Petrohawk, Sotheby

Mukesh Buch
04 Aug, 2011
New York City

Apache second quarter net income rose to $1.24 billion. BCE second quarter net income fell 2.5%. General Motors reported its profit for the sixth quarter in a row. Kraft Foods second quarter net earnings rose 4.2% and decided to split the company into two. Sotheby

U.S. Indexes in 8% Correction, Weak Labor Report; Kraft to Split

Darlington Musarurwa
04 Aug, 2011
New York City

U.S. markets resumed their slide after weaker than expected jobs market report. The Dow, S&P 500 and the Nasdaq are now in correction with at least 8% decline in the last two weeks. Kraft Foods decided to split the company into two and General Motors reported its sixth quarterly profit in a row.

ECB on Hold, Spain Completes

Devan Biswas
04 Aug, 2011
New York City

European markets jitters dragged indexes lower for the third week in a row as Spain completed the sale of

Yen Up 4% on Japan Intervention; Toshiba, Mitsubhi Heavy in Merger Talks

Nigel Thomas
04 Aug, 2011
New York City

Stocks in Tokyo trading gained after two days of steep losses. The finance ministry intervened to weaken the yen and the Bank of Japan planned to increase its asset buying program. Toshiba Ltd and Mitsubishi Heavy Industries Ltd entered in merger talks.

IAC/InterActiveCorp Q2 Earnings Call Transcript

123jump.com Staff
04 Aug, 2011
New York City

The Internet conglomerate reported revenue for the quarter increased 23% to $485.4 million. Net quarterly income doubled 212% to $42.4 million driven by double-digit revenue growth across all segments. Earnings per share rose to 44 cents versus 12 cents per share a year-ago quarter.

Australian Index Down 14% from April Peak; Rio Tinto Net Up 30%

Marcus Jacob
04 Aug, 2011
New York City

Australian stocks fell to the lowest last seen in July 2009 and dropped 14% from its peak in April. Miners and banks led the decliners for the second week in a row. Rio Tinto said first half net soared 30% and left its outlook for the rest of the year intact. The Australian dollar declined 1.8%.

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