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Crude Oil Drops 5.5%,U.S. Indexes Fall 1%; Rajaratnam Found Guilty

Bikram Pandey
11 May, 2011
New York City

U.S. indexes dropped more than 1% after crude oil plunged 5.5%. Higher than expected supplies in the weekly report dragged the oil lower and gasoline plunged 8%. Precious metals closed lower. Earnings lifted European stocks and inflation in China kept investors on the sidelines in Asia.

U.S. Movers: Enbridge, Macy

Mukesh Buch
11 May, 2011
New York City

Dean Foods first quarter net income fell to $25 million. Enbridge first quarter net income rose 15% to $393 million. Macy

UK Indexes Pare Losses, ITV, HSBC Fall

Marcus Jacob
11 May, 2011
New York City

Bank of England lowered its economic growth views for 2011 and 2012 and lifted inflation warning to as high as 5%. Separately, UK trade deficit increased in March. HSBC declined after it plans to trim costs as much as $3.5 billion and ITV fell on weaker advertising outlook.

U.S. Trade Deficit Widens on Record Exports; Stocks Turn Lower

Bikram Pandey
11 May, 2011
New York City

U.S. turned lower in the morning after trade deficit widened on higher oil price and sustained imports. China reported inflation of 5.3% and bank loans rose at a slower pace. Walt Disney quarterly net missed earning estimates. Spectrum Brands gained on better than expected sales.

European Stocks Rise on Earnings; Maersk, Hermes, Storebrand Up

Nigel Thomas
11 May, 2011
New York City

European stocks inched higher as earnings lifted trading sentiment despite the ongoing worries linked to Greece. German Chancellor Angela Merkel said Greece must do its part in rebuilding its economic foundation. Maersk and Hermes gained more than 4% on better quarterly results.

Sensex Edges Higher; Oracle Financial, State Bank of India Up

Devan Biswas
11 May, 2011
New York City

Stocks in Mumbai traded in a tight range as banks, real estate developers and resources linked stocks led the most active list. State Bank of India lifted prime lending rate by 75 basis points following an increase of 50 basis points by the RBI. Oracle Financial Services soared 11%.

Second Day Advance in Japan Stocks; Orix, NEC, Sumitomo Rubber Rise

Nigel Thomas
11 May, 2011
New York City

Stocks in Japan closed higher for the second day in a row. The yen weakened but held firm. Finance Ministry report showed that the central bank conducted only one currency intervention in the quarter to March.

Australian Stocks, Dollar Advance; David Jones, Myers, Westfield in Focus

Marcus Jacob
11 May, 2011
New York City

Australian stocks advanced after China reported inflation above 5% but not high enough to slow down the economy. The Australian dollar edged up to $1.08. Westfield lifted outlook for development construction. David Jones after it reaffirmed annual earnings outlook.

JPMorgan Q1 Earnings Call Transcript

123jump.com Staff
10 May, 2011
New York City

The financial services provider total quarterly net revenue dropped 9% to $25.22 billion. Net income in the quarter surged 67% to $5.56 billion. Earnings per share rose to $1.28 as against 74 cents per share a year ago.

UK Index Advances 1.3%; TUI Travel, Imperial Tobacco Rise

Nigel Thomas
10 May, 2011
New York City

UK stocks climbed tracking the gains in European markets. UK retail sales volume increased 5.2% in April largely on the account of calendar shift and one-time event. Intercontinental Hotels Group guided higher sales at Holiday Inn and Imperial Tobacco Group reported higher sales.

Greek Debt Auction Lifts European Market Indexes

Arjun Dave
10 May, 2011
New York City

European markets closed higher after Greece successfully completed the sale of 6-month debt and attracted a large chunk of foreign investors to the auction. Market indexes in Germany, Switzerland, Greece, Italy and Spain advanced. The IMF is expected to offer as much as

U.S. Movers: Aeroflex , A123 Systems, CVR Energy, Fossil, Universal Display

Mukesh Buch
10 May, 2011
New York City

Aeroflex third quarter net income rose to $4.13 million. CVR Energy first quarter net income grew to $45.8 million. Fossil first quarter net income soared 55.5% to $55.8 million. Triumph fourth quarter net income rose to $52.3 million. Universal Display first quarter net loss widened to $11.9 mn.

U.S. Stocks Advance on Deals; Microsoft to Pay $8.5 Billion for Skype

Bikram Pandey
10 May, 2011
New York City

U.S. stocks traded higher on merger news. Microsoft agreed to acquire Skype for $8.5 billion in cash. American Idol parent CKX agreed to go private. China

Sensex in India Trade Sideways; Elevated Inflation Worries

Devan Biswas
10 May, 2011
New York City

Stocks in Mumbai closed lower in a volatile trading. Sustained elevated inflation and rising fuel prices has kept investors on the sidelines. The rupee edged lower to 45.36 as crude oil prices traded above $100 a barrel.

Earnings Lift Japan Stocks; Toshiba, Sumitomo Heavy, Hitachi Rise

Nigel Thomas
10 May, 2011
New York City

Japan stocks traded higher as earnings overshadowed growing sovereign default worries in the euro-zone. Toshiba, Hitachi and Sumitomo Heavy lead the gainers are reporting or guiding better than expected earnings. Softbank Corp estimated higher full-year earnings.

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