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Market Update

U.S. Movers: Icagen, Park Electrochemical, Universal Forest

Mukesh Buch
27 Jun, 2011
New York City

Park Electrochemical first quarter net fell. Stanley Black agreed to acquire Sweden based Niscayah AB for $1.2 billion. Universal Forest will align the costs due to significantly weaker-than-expected sales in the first five months.

UK Home Prices Decline 0.1%; Ocado Swings to Profit

Arthi Gupta
27 Jun, 2011
New York City

The UK indexes gained on optimism of a solution to the Greece debt crisis The Greek Parliament begins a debate on the austerity measures today and a parliament vote is expected on Wednesday. The UK home prices declined in June.

U.S. Personal Income Rises 0.3%; Dow, Nasdaq Up 1%

Arthi Gupta
27 Jun, 2011
New York City

U.S. indexes traded higher after personal income rose 0.3% in May. S1 agreed to merge with Fundtech in $700 million stock swap purchase. Metropolitan Health agreed to acquire Continucare for $416 million.

Euro-Area FDI Plunges; Romania Jobless Rate at 7.6%

Arthi Gupta
27 Jun, 2011
New York City

Foreign direct investment in the European Union plunged 75% to

Nikkei in Tokyo Falls 1% on Bank Worries, Nissan Guides Higher

Nigel Thomas
27 Jun, 2011
New York City

Stocks in Japan closed lower as investors focused on the passage of Greek austerity measures. Banks declined on the worries that the failure to pass the measures may affect large banks around the world. Automakers gained after positive comments from Nissan.

Greece in Focus; Akzo Nobel Plunges 10%

Arthi Gupta
27 Jun, 2011
New York City

The European indexes traded sideways ahead of Greece

Australian Index Drops 1%; Centro Directors Guilty

Marcus Jacob
27 Jun, 2011
New York City

Australian stocks declined tracking losses in Asia and international markets. Commodities fell and oil declined 1.2%. Banks led the decline on the worries that access to international wholesale markets may shrink if world economy falters.

U.S. Indexes Decline 1% as Euro-zone Worries Spread to Italy

Bikram Pandey
24 Jun, 2011
New York City

Tech stocks led the decline in the U.S. indexes after Oracle and Micron earnings fell short of expectations. The broader indexes dropped 1% after the euro-zone debt worries spread to Italy as Greece struggles with austerity measures and asset privatization.

U.S. Movers: Accenture, H&R Block, Oracle, Tibco, Finish Line

Mukesh Buch
24 Jun, 2011
New York City

Accenture third quarter net income increased 9.3% to $628 million. H&R Block fourth quarter net income slumped to $658.6 million. Oracle fourth quarter net income surged 36% to $3.2 billion.

UK Indexes Gain on Greek Hopes; Accenture Net Rises 24%

Arthi Gupta
24 Jun, 2011
New York City

The UK indexes rose on hopes of a resolution to the Greece debt crisis. The Bank of England Governor Mervyn King said that the euro-zone debt crisis poses a significant threat to the financial stability in the United Kingdom. Berkeley Group fiscal year 2011 sales and net advanced.

U.S. Durable Goods Orders Up 1.9%; Q1 GDP Revised Higher

Arthi Gupta
24 Jun, 2011
New York City

U.S. indexes edged higher after first quarter GDP estimate was revised higher and durable goods orders rose more than estimated in May. Williams proposed to acquire Southern Union for $8.7 billion. Oracle net rose 36% on strong sales.

German Sentiment Improves; Hungarian Retail Sales Drop 1.3%

Arthi Gupta
24 Jun, 2011
New York City

Euro-zone leading index fell in May. German business sentiment improved and French consumer confidence remained flat in June. Hungarian retail sales dropped in April. Spanish producer price inflation eased in May.

Greece, EU Agree on Austerity; Rolls-Royce, Daimler Secure 94% of Tognum

Arthi Gupta
24 Jun, 2011
New York City

The European indexes gained after European Union leaders agreed to extend more financial aid to Greece. NYSE Euronext and Deutsche Boerse settled shareholder lawsuits by paying dividends of $910 million. Rolls-Royce and Daimler secured 94% of Tognum shares.

Nikkei in Tokyo Advances to 3-week High; Retailers Fall

Nigel Thomas
24 Jun, 2011
New York City

The benchmark index Nikkei registered 3.5% gain in the week, the largest weekly gain in the year. Stocks advanced to a 3-week high after Greece worries eased and oil fell. Retailers declined after Economy Minister Yosano strongly advocated the increase of consumption tax.

Australian Stocks Struggle; BHP Alumina Project Cost Up $3 Billion

Mukesh Buch
24 Jun, 2011
New York City

Australian stocks struggled after crude oil plunged more than 4%. The commodities markets also trended lower. BHP said it will invest nearly $500 million in its potash mining operation in Canada and its alumina refinery operation in Western Australia will cost significantly more.