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U.S. Indexes, Oil Surge 1.6%; Allies Bomb Libya

Bikram Pandey
21 Mar, 2011
New York City

U.S. stocks surged after crude oil prices gained and markets in Europe and Asia advanced. AT&T gained after it agreed to acquire for $39 billion T-Mobile and Charles Schwab offered $1 billion for online options trading firm. SunTrust and KyeCorp raised $1.67 billion to repay TARP funds.

Sensex in India Drifts Lower on Higher Oil; PFC $800 Million Offering

Devan Biswas
21 Mar, 2011
New York City

Stocks in Mumbai traded lower after crude oil prices gain stoked the worries of higher inflation and prompted analysts to talk of a market correction of further 5%. Mahindra & Mahindra completed the purchase of a stake in Korean engine maker. Power Finance Corp approved $800 million offering.

Hang Seng Surges 1.7%, Shanghai Up on Energy Stocks

Devan Biswas
21 Mar, 2011
New York City

Stocks in Hong Kong and Shanghai increased after investors shrugged off the latest bank reserve tightening. China energy stocks gained after crude oil prices increased. Kweichow Moutai Co, China

Australian Stocks, Dollar Up; Lundin to Reject Equinox Offer

Marcus Jacob
21 Mar, 2011
New York City

Australian stocks traded up as resource stocks gained and Japan cited more progress in containing a nuclear reactor. Crude oil prices surged after UK and France led an attack on Libya that killed as many as 150 civilians. Lundin Mining asked shareholders to reject hostile offer from Equinox Mining.

AT&T to Buy T-Mobile for $39 Billion; Regulatory Hurdles Loom

Arjun Dave
21 Mar, 2011
New York City

AT&T Inc agreed to acquire T-Mobile from Deutsche Telekom in a cash and stock deal for $39 billion. The deal will catapult AT&T to the largest wireless carrier in the U.S. and customers may see higher prices in less than a year. J.P. Morgan will provide $20 billion in debt financing.

U.S. Extends World Markets Gains; Commodities Struggle

Bikram Pandey
18 Mar, 2011
New York City

U.S. markets extended gains for the second day after crude oil price declined and Libya backed down and announced a cease-fire. Bank of Japan pumped $37 billion in a coordinated currency intervention with the central banks in Europe and North America. World markets gained more than 1%.

U.S. Movers: Cisco, Polypore, CostPlus, Nike, SeaChange

Mukesh Buch
18 Mar, 2011
New York City

Cisco traded higher after it announced a quarterly dividend of six cents. CostPlus fourth quarter net income increased but estimated lower than expected in the current year. Nike third quarter net income soared 5% to $523 million. The Cato fourth quarter net income rose 8%.

UK Indexes Up 0.7%; Sluggish Mortgage Lending, Record Low Confidence

Nigel Thomas
18 Mar, 2011
New York City

UK stocks traded higher matching the gains in Europe and world markets. Crude oil declined after Libya announced a no-fly zone. UK mortgage lending in February declined as home market remained sluggish and consumer sentiment index dropped to the low last seen in 2004.

Wall Street Rallies on Yen Intervention, Libya Action

Marcus Jacob
18 Mar, 2011
New York City

U.S. stocks traded higher after G-7 central bankers conducted a coordinated currency market intervention. The joint action, first in a decade also highlighted fragile global recovery and need to dampen speculative volatility. U.N. passed a no-fly zone over Libya. Cisco declared a quarterly dividend.

European Markets Jump 1.3%; Spain's Bad Debt at 16-year High

Nigel Thomas
18 Mar, 2011
New York City

Stocks in Europe opened higher after G-7 nations conducted a coordinated action to tame the yen, Libya announced a cease fire and U.N. passed a no-fly zone resolution over Libya. Spain

Sensex Drops 1.5% on Inflation Worries; Reliance Drops 3.7%

Devan Biswas
18 Mar, 2011
New York City

Stocks in Mumbai declined on the worries that another hike in retail petrol prices will stoke a new round of inflation. Political noise also notched up after a leaked U.S. diplomatic cable hinted that Congress Party offered bribes to win the nuclear treaty vote in Parliament.

G7 Action Drives Yen Lower for Now; Nikkei Rebounds 2.7%

Nigel Thomas
18 Mar, 2011
New York City

Stocks in Japan rebounded after G7 nations initiated round-the-clock intervention in currency market. The yen declined 3.6% by the end of trading and more selling is expected in Europe and in New York later in the day. G7 agreed for a coordinated move, the first such action since 2000.

Australian Stocks Rebound; Talbot Sells 16% Stake in Sundance Resources

Marcus Jacob
18 Mar, 2011
New York City

Australian stocks rebounded after markets in Asia turned positive on the G7 pledge to support the weak yen. The Bank of Japan in a coordinated move sold more than one trillion yen and expected more selling by the European and the U.S. central banks.

Global, U.S. Stocks Brave Higher; Japan Advances in Reactor Containment

Bikram Pandey
17 Mar, 2011
New York City

U.S. indexes closed higher on a positive sentiment after the latest inflation data and a decline in weekly jobless claims. Mixed economic news in Europe and an improvement in German construction industry data lifted indexes in Europe. Commodities edged higher.

U.S. Movers: Actuant, Clarcor, FedEx, Guess, Lululemon, Ross Stores

Mukesh Buch
17 Mar, 2011
New York City

Clarcor first quarter net earnings rose 47% to $21.88 million. FedEx third quarter net income fell 3% to $231 million. Guess fourth quarter net income rose 19% to $103.3 million. Lululemon quarterly net income soared to $54.8 million. Ross Stores net earnings in the quarter soared 13% to $161.8 mn.

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