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U.S. Stocks Struggle; Novartis Completes $12.9 B Alcon Merger

Arthi Gupta
15 Dec, 2010
New York City

U.S. stocks fell after mortgage refinancing declined but inflation rose. The U.S. Senate voted in favor of a bill to extend the Bush-era tax cuts. HP inked $1.4 billion infrastructure technology outsourcing contract with E.ON. Simon Property raised bid offer to

India Movers: Hero Honda, Tata Consultancy, GMR, Reliance Comm

Mukesh Buch
15 Dec, 2010
New York City

Oil refiners and marketers rose after a retail price increase. Manganese Ore Limited surges on its first day of trading. Reliance Communications struck deal with China Development Bank for $1.93 billion. Ambalal Sarabhai Enterprises Ltd faces delisting.

Chinese Banks Loan to India Projects; Manganese Ore IPO Soars

Chandrasekhar Atreya
15 Dec, 2010
New York City

Mumbai stocks declined after oil companies raised fuel prices. Lanco Infratech acquires Griffin Coal of Australia. Manganese Ore India Ltd surged 51% on its first day of trading. Anil Dhirubhai Ambani Group companies finalize $3 billion of loans with Chinese banks.

Stocks in Japan Meander; Weaker Yen

Chandrasekhar Atreya
15 Dec, 2010
New York City

Tokyo stocks moved in a narrow range as investors focused on weaker yen and stronger than expected U.S. retail sales. Business confidence slips for the first time after seven quarters. Eco-point applications for purchase of energy-efficient appliances surge 40% in November.

China to Lift Inflation Target to 4%

Chandrasekhar Atreya
15 Dec, 2010
New York City

China key stock indexes drop on inflation worries and the fast developing nation is expected to revised inflation target next year to 4% from the current target of 3%. Foreign direct investment surges to record in November.

Australia Approves ASX Acquisition by Singapore; Aussie Rebounds

Chandrasekhar Atreya
15 Dec, 2010
New York City

Stocks in Australia were flat and four large banks were in focus. Competition regulator approves Singapore Exchange

Fed Left Rates, Bond Program Unchanged

Bikram Pandey
14 Dec, 2010
New York City

Federal Reserve left its target rate range on hold and left its U.S. bonds buying program intact. The Fed noted that slow economic recovery is insufficient to lower unemployment. Stocks turned after the expected rate decision. Best Buy Co plunged after the retailer guided weak outlook.

UK Indexes Higher; Inflation Surges 3.3%

Arthi Gupta
14 Dec, 2010
New York City

The UK indexes edged higher tracking rising commodities prices. The UK inflation soared and home price index improved in November. BP agreed to sell Pakistan assets to China based United Energy Group for $775 million. Imagination Technologies net surges 93%.

U.S. Movers: Best Buy, FactSet Research, The Pantry

Mukesh Buch
14 Dec, 2010
New York City

Best Buy Co, third quarter revenue decreased 1.1% to $11.89 billion. Edwards Lifesciences estimates fiscal year 2011 underlying sales growth of 11% to 15%. Sanderson Farms, fourth quarter net sales increased 13% to $529.1 million. The Pantry, fourth quarter revenues increased 12% to $1.95 billion.

AnnTaylor Q3 Earnings Call Transcript

123jump.com Staff
14 Dec, 2010
New York City

The women''s specialty retailer net quarterly sales increased 9% to $505.28 million on comparable-store sales rise of 11.7%. Net income in the quarter surged 1069% to $24.20 million. Earnings soared to 41 cents per share compared to 3 cents per share in the prior-year quarter.

Berlusconi Survives Confidence Vote, Euro-zone Industrial Output Up

Arthi Gupta
14 Dec, 2010
New York City

The European indexes fell after euro area industrial production improved in October. Italian Prime Minister Silvio Berlusconi narrowly won vote of confidence. German manufacturing employment declined but investor confidence improved. French inflation remained flat in November.

U.S. Retail Sales, Producer Price Index Rise

Arthi Gupta
14 Dec, 2010
New York City

U.S. stocks traded sideways ahead of the last Fed meeting in the year. U.S. retail sales and PPI rose more than anticipated in November. HCP agreed to acquire real estate assets of HCR ManorCare for $6.1 billion. Regal Beloit agreed to acquire electric motor division of A.O. Smith for $875 million.

India Movers: Crest Animation, GMR Infra, Hero Honda, Sterlite

Mukesh Buch
14 Dec, 2010
New York City

Allahabad Bank hiked base and prime lending rate. Honda Motors partner in Hero Honda Group are expected to acquire 26% stake in the joint venture for about $1 billion. Punjab National Bank bought 63.6% stake in Kazakhstan based JSC Dana Bank in $24 million.

India

Chandrasekhar Atreya
14 Dec, 2010
New York City

Mumbai stocks traded sideways after the latest read on wholesale inflation showed a decline to 11-month low. India selects 37 companies to build solar power projects to reach its target of 20GW by 2022. Reserve Bank of India injects liquidity for the third time in as many months.

China Region Indexes Higher; Resource, Bank Sector Stocks Down

Chandrasekhar Atreya
14 Dec, 2010
New York City

Stocks in China region edged higher but resource stocks fell. Banks also edged lower after China lifted bank reserve ratios of six select banks by 50 basis points to 19%. Premier Wen Jiabao is scheduled to reach India on Wednesday with the largest ever trade delegation.

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