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U.S. Stocks Turn Lower; Target, Deere, Dell Earnings Rise

Bikram Pandey
18 May, 2011
New York City

U.S. stocks edged lower as weak sentiment affected trading. Commodities advanced and crude oil gained 2%. Target earnings gained 2.7% and Dell soared after earnings advanced. Deere & Co quarterly net rose 65%.

European Markets Decline, Spain Bad Loans Ratio Falls to 6.1%

Nigel Thomas
18 May, 2011
New York City

European markets traded sideways as resource linked stocks gained but banks were under pressure. European Union officials intensified campaign and said Greek default is not an offensive. Bank of Spain said bad loan ratio declined to 6.11% in March from 6.2% in February.

India Stocks Struggle; Bajaj Auto Bajaj Finserv Net Soar, RIL Falls

Devan Biswas
18 May, 2011
New York City

Stocks in Mumbai traded sideways as investors digested rising earnings from Bajaj Auto and Bajaj Finserv. However, market was unnerved after the State Bank of India reported 99% drop in earnings. Reliance Industries fell after a report indicated gas production may not increase for three more years.

Nikkei Jumps 1%; Renesas Denies Resumption Plans, Skymark Dives 15%

Nigel Thomas
18 May, 2011
New York City

The benchmark index in Tokyo jumped 1% after several news hinted at the recovering industrial climate and improving power condition in the central Japan industrial belt. Renesas Electronics may resume its production in June and reach full capacity by October but company sources deny the time table.

Slower Wage Growth Drags Australian Stocks; Tully Sugar in Focus

Marcus Jacob
18 May, 2011
New York City

The Australian benchmark index gained as the first quarter wages increased 0.8% from the previous quarter and gained 3.8% from a year ago. Graincorp soared 5% on takeover talks and Tully Sugar shareholders approved the change that will facilitate the takeover.

U.S. Stocks Extend Losses Third Day; Gold Declines

Bikram Pandey
17 May, 2011
New York City

U.S. stocks traded lower after weak housing starts data and extended losses for the third day. Oil fell below $98 a barrel and gold dropped as much as $11. Retail stocks were in focus after Wal-Mart, Saks and TJX reported earnings. European and Asian markets were on the defensive.

U.S. Movers: Hewlett-Packard, Saks, Home Depot, TJX, Wal-Mart

Mukesh Buch
17 May, 2011
New York City

Hewlett-Packard second quarter net earnings increased 5% to $2.3 billion. Saks first quarter net income grew 3% to $28.4 million. Home Depot first quarter net income soared 12% to $812 million. TJX first quarter net income plunged to $265.9 mn. Wal-Mart first quarter net income grew 3% to $3.4 bn.

UK Inflation Surges to 30-month High; Vodafone Net Falls 8%

Nigel Thomas
17 May, 2011
New York City

UK stocks turned lower after inflation surged to highest last seen in October. The Bank of England Governor Mervyn King blamed the recent pick up in inflation on higher taxes and energy prices. Vodafone Plc said annul net declined 7.8%.

U.S. Indexes Lower on Weak Housing Starts; HP Falls 8%

Bikram Pandey
17 May, 2011
New York City

U.S. stocks traded lower after housing starts in April declined 10.6% and industrial production was weaker than expected. Wal-Mart Stores Inc said same store sales at its U.S. locations declined 1.1%, eight quarterly fall in a row. Hewlett Packard lowered its annual outlook.

European Markets Weak, German Index Drops 1.4%; OMV

Arjun Dave
17 May, 2011
New York City

European markets traded sideways but the index in Germany dropped more than 1.4% after economic sentiment index declined for the third month in a row and dropped to near 10% of its average. French conglomerate Bouygues SA quarterly net plunged 81%. OMV AG announced

Sensex Drops 1.1%; State Bank of India Net Plunges 99%

Devan Biswas
17 May, 2011
New York City

Stocks in Mumbai declined after State Bank of India earnings plunged on a sharp rise in non-performing loans. The Sensex index dropped 1.1%. ONGC and other government controlled oil marketing companies declined after the government lowered subsidies to energy companies.

Tokyo Utilities and Banks Fall on Tepco Debt Plan

Nigel Thomas
17 May, 2011
New York City

Stocks in Tokyo were flat but banks and utilities declined for the third day in a row. Finance Minister Yoshihiko Noda sent a clear signal to the market and urged creditors to work with Tepco to lower debt and facilitate the compensation to victims.

Tech Stocks Lead U.S. Market Decline; Oil Drops 2.5%

Bikram Pandey
16 May, 2011
New York City

U.S. stocks struggled after commodities declined and the euro rebounded. European finance ministers finalized the bailout conditions for Portugal and urged Greece to expedite its privatization program before additional funding. Crude oil declined 2.5% and commodities swing.

Australian Stocks Higher; James Hardie Cuts Debt

Marcus Jacob
17 May, 2011
New York City

Australian stocks struggled as commodities traded lower and global economic growth worries resurfaced. Reserve Bank of Australia left its tightening bias in the latest meeting but showed no urgency. James Hardie to reinstate its dividend and lowered its debt.

UK Stocks Defensive, Miners Rebound; BP, Shell Down

Nigel Thomas
16 May, 2011
New York City

UK stocks edged lower on global economic worries following a weakness in European markets. Miners closed higher on a slight rebound in base metal prices but energy linked companies declined on a weakness in crude oil prices.

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