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Market Update

U.S. Movers: Abbott, Apple, BlackRock, Chipotle Mexican Grill, Ecolab

Mukesh Buch
20 Jul, 2011
New York City

Abbott second quarter net earnings soared 50% to $1.9 billion. Apple third quarter net profit surged to $7.31 billion. BlackRock second quarter net income surged 45% to $619 million. Ecolab made merge agreement with Nalco for $8 bn. United Technologies second quarter net income rose 21%to $1.32 bn.

U.S. Stocks Rest; Earnings Momentum, Housing Weakness Collide

Bikram Pandey
20 Jul, 2011
New York City

The U.S. indexes traded sideways after 90% of the 65 companies in the S&P 500 index so far reported better than expected earnings. The surge in Apple Inc

UK Mortgage Lending Drops; LSE Group Revenues Up 2%

Arthi Gupta
20 Jul, 2011
New York City

The UK indexes climbed after gross mortgage lending fell in June. The Bank of England policymakers remained divided on rates and quantitative easing. Melrose completed the disposal of Dynacast division for

Nikkei in Japan Rise on Techs and Bank; Softbank, Yasakawa Up

Nigel Thomas
20 Jul, 2011
New York City

Stocks in Japan gained following a rally in tech stocks and banking stocks. Apple Inc earnings lifted Toshiba Corp, Softbank and Foster Electric. Banks gained after the U.S. debt talks jitters eased. Yasakawa Electric earnings lift robot makers.

Existing Home Sales Drop 0.8%, Apple Lifts Tech Sentiment

Arthi Gupta
20 Jul, 2011
New York City

U.S. indexes rose after mortgage application activity soared. Energy Transfer agreed to acquire Southern Union in $9.4 billion deal and Ecolab agreed to buy Nalco for $5.4 billion. CNOOC agreed to acquire OPTI for $2.1 billion. Apple earnings surged on strong sales of iPhones and iPad.

Australian Stocks Power Ahead; Record BHP Billiton Production

Marcus Jacob
20 Jul, 2011
New York City

Australian stocks soared tracking a surge in international markets and BHP reported strong production. However the index of leading indicators and consumer spending declined to the slowest growth in 20 months. Woolworths reported food and liquor sales dropped 10% in the quarter.

German Producer Prices at 6-Month Low; Italian Orders Improve

Arthi Gupta
20 Jul, 2011
New York City

German producer prices eased to a 6-month low in June. Iceland jobless rate fell in the second quarter. Italian industrial orders improved in May. Dutch and Danish consumer sentiment declined in July.

Earnings Momentum Lift European Indexes; Accor, TeliaSonera Up

Arthi Gupta
20 Jul, 2011
New York City

European indexes extended gains ahead of the Greek bailout summit. German producer prices increased 5.6%. Accor first-half revenue rose 4.4% to

Earnings Outlook Drives S&P 500 Index Up 1.6%

Bikram Pandey
19 Jul, 2011
New York City

U.S. indexes closed higher after earnings dominated market sentiment. IBM quarterly net increased 8% and Coca-Cola net rose 18%. Bank of America swung to a net loss on higher loan losses. Market sentiment was bolstered after June home starts soared 15% to annual rate of 629,000.

U.S. Movers: Bank of America, IBM, Goldman Sachs, Coca-Cola, Wells Fargo

Mukesh Buch
19 Jul, 2011
New York City

Bank of America reported second quarter net loss of $8.8 billion. IBM second quarter net income increased 8% to $3.7 billion. Goldman Sachs second quarter net income soared 132% to $1 billion. Wells Fargo second quarter net income increased 29% to $3.9 billion.

UK Indexes Rise; News Corp. Leadership Change Anticipated

Arthi Gupta
19 Jul, 2011
New York City

The UK indexes traded higher on upbeat global earnings. News Corp. chief executive Rupert Murdoch, his son James and former chief of News International Rebekah Brooks will appear before a parliamentary committee today. Irish factory gate prices fell in June.

U.S. Housing Starts Surge 14.6%; Bank of America Swings to Loss

Arthi Gupta
19 Jul, 2011
New York City

U.S. indexes gained after strong earnings and housing starts rose 14.6% in June. Cisco agreed to sell Mexican set-top box factory to Foxconn and planned job cuts. IBM net rose 8%. Bank of America swung to a net loss on impairment charges.

Nikkei in Tokyo Below 200-day Average

Nigel Thomas
19 Jul, 2011
New York City

Stocks in Tokyo declined below its 200-day average as global economic worries resurfaced. Industrials and automakers were among the leading decliners. Banks fell more than 2% on the worries that the debt contagion may widen in the euro-zone.

Euro-zone Construction Slows; German Sentiment Deteriorates

Arthi Gupta
19 Jul, 2011
New York City

Construction output in the euro are slowed in May. German economic sentiment fell more-than-anticipated in July. Greek jobless rate declined to 15.8% in April. Portuguese PPI eased in June.

Australian Stocks Weak; OZ Minerals Buyback, News Corp Debt on Watch

Marcus Jacob
19 Jul, 2011
New York City

Australian stocks edged lower as the rising sovereign debt talk stress in the U.S. and Europe weakened the sentiment. News Corp credit rating may be lowered according a rating agency. OZ Minerals launches a stock buyback plan for $200 million.