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Market Update

U.S. Movers: AstraZeneca, Adobe, CarMax, FedEx, Jabil Circuit

Mukesh Buch
22 Jun, 2011
New York City

AstraZeneca agreed to sell its Astra Tech business to Dentsply for $1.8 billion in cash. Adobe second quarter net income surged 54% but issued cautious outlook. FedEx fourth quarter net income soared 33% to $558 million. Jabil Circuit third quarter net income surged doubled.

UK Indexes Fall; Astra Zeneca in $1.8 Billion Deal

Arthi Gupta
22 Jun, 2011
New York City

The UK indexes slid after Greek government survived a confidence vote. The minutes showed that the Bank of England policy makers retained the interest rate and asset purchase program by a split vote. Employment intentions in the UK indicated increase in job creation in the six months.

U.S. Mortgage, Refinancing Activity Drop; Adobe, FedEx Net Soar

Arthi Gupta
22 Jun, 2011
New York City

U.S. indexes slid ahead of the FOMC decision on the stimulus program. U.S. mortgage and refinancing activity fell. Dentsply agreed to acquire Astra Tech from AstraZeneca for about $1.8 billion. Adobe net surged 54% on strong sales but guidance disappointed.

Euro Area Orders Rise; Spain Mortgages Drop 12.1%

Arthi Gupta
22 Jun, 2011
New York City

Euro-zone industrial orders rose in April. French business sentiment strengthened and Danish consumer sentiment improved in June. Swedish jobless rate fell in May to 7.9%. Spanish mortgage lending dropped in April by 12.1%. Swiss investor confidence weakened.

Greek PM Survives Confidence Vote; Philips Plunges 13%

Arthi Gupta
22 Jun, 2011
New York City

The European indexes traded sideways after Greek Prime Minister Papandreou won a vote of confidence yesterday. Markets in Europe rebounded and shifted focus to the passage of austerity measures next week. Philips plunged on weak comparable sales outlook for the second quarter of 2011.

Nikkei in Tokyo at June high; Softbank, Sony, Elpida Up

Nigel Thomas
22 Jun, 2011
New York City

Stocks in Japan rebounded after concerns over Greece eased for now. The Nikkei index inched above 9,600 and closed at the high for the month. Chain store retail sales declined 1.4% in May. Softbank is likely to reach an agreement with Alibaba Group over its payment gateway technology.

Australian Index at 5-day High; Qantas Estimates $550 Million Net

Marcus Jacob
22 Jun, 2011
New York City

Stocks in Australia rebounded after a weak trading in the last five days. Resources linked stocks gained after Greek government won a parliament vote of confidence. Qantas Airways estimated full year profit of as much as $550 million but international operations continue to make losses.

U.S., European Markets Rally; Euro Firm, Oil Up

Bikram Pandey
21 Jun, 2011
New York City

U.S. and European markets rebound with resources linked stocks leading the advance. Oil, copper and gold turn positive. The S&P 500 index gained nearly 3% in the last four days and the Nasdaq added 1.8%. The euro held firm as Greek lawmakers debate austerity plan.

U.S. Movers: Barnes & Noble, Carnival, Gerber, Jefferies, Walgreen

Mukesh Buch
21 Jun, 2011
New York City

Barnes & Noble reported fourth quarter net loss widened to $59.4 million. Carnival second quarter net income fell to $206 million. Susquehanna will acquire Tower Bancorp for $343 million. Walgreen third quarter net earnings grew to $603 million.

UK Public Sector Borrowing Drops; Whitbread, Misys Surge

Arthi Gupta
21 Jun, 2011
New York City

The UK indexes climbed as concerns eased about a Greek debt default. The UK public sector borrowing declined in May and manufacturing demand remained strong in June. Irish trade surplus narrowed in April.

Greek Hopes Lifts Global, U.S. Indexes

Arthi Gupta
21 Jun, 2011
New York City

U.S. indexes gained on optimism of a resolution to the Greek debt crisis. eBay completed acquisition of GSI Commerce for $2.4 billion. Raytheon secured $1.7 billion contract to upgrade Patriot for Saudi Arabia.

German Sentiment Deteriorates; Finland Jobless Rate Falls

Arthi Gupta
21 Jun, 2011
New York City

German economic sentiment deteriorated in June and leading index rose in April. Swiss economic growth forecasted to slow to 1.9% in 2012. The jobless rate in Finland declined in May.

Greece Debates Austerity Plan; European Indexes Higher

Arthi Gupta
21 Jun, 2011
New York City

The European indexes traded higher ahead of the crucial confidence vote by the Greek Prime Minister George Papandreou. Weatherford settled claims with BP relating to the Deepwater Horizon oil spill. Elekta agreed to buy Nucletron for

Nikkei in Tokyo Up on Weaker Yen; TDK Lifts Dividend

Nigel Thomas
21 Jun, 2011
New York City

Stocks in Japan increased for the second day in a row after investors focused on the domestic manufacturing recovery. TDK Corp gained after it increased dividend and estimated net to increase 11% in the current year.

Foster's Rejects SAB Miller Offer; Australian Stocks Follow Higher Oil

Marcus Jacob
21 Jun, 2011
New York City

Australian stocks edged higher following a rise in commodities and international markets. The Euro-zone ministers, ECB, IMF and Greece remain at odds in how to fund the last portion of first bailout. Foster