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Market Update

U.S. Movers: Estee Lauder, Chevron, Deckers Outdoor, First Solar

Bikram Pandey
29 Oct, 2010
New York City

Deckers Outdoor surged after the footwear maker lifted full year outlook. Estee Lauder soared 12% after earnings exceeded expectations. Coinstar Inc soared after it raised earnings outlook. First Solar declined 7%.

Euro-zone Inflation Near 2-Year High; Total SA Net Soars

Arthi Gupta
29 Oct, 2010
New York City

The European indexes fell after euro area annual inflation accelerated in October and jobless rate reached the highest level since 1998. German retail sales fell in September. Hungary and Dutch PPI rose in September. Polish Central Bank raised growth outlook for 2010.

India Movers: ONGC, ABB, ICICI, Tata Chemicals

Mukesh Buch
29 Oct, 2010
New York City

Stock in Mumbai rose. Bharat Heavy Electricals fell 0.6% and net profit rose 33.15%. ICICI Bank soared 6.5% after net profit rose 21.87%. ONGC fell 0.3% and net profit rose 5.88%. Tata Chemicals plunged 8.5% after net profit tumbled 42.96%.

U.S. GDP Expands 2%; Microsoft Net Soars

Arthi Gupta
29 Oct, 2010
New York City

U.S. stocks traded lower after third quarter GDP expanded at 2%. GM planned to cut debt and pension obligations by $11 billion ahead of IPO. Le Gaga priced IPO of 10.87 million ADS at $9.50 each. MetLife agreed to a sell stake in Japan venture for $275 million. Microsoft earnings surged 51%.

Sensex Rebounds; India Tax Collection Rises 17%

Chandrasekhar Atreya
29 Oct, 2010
New York City

Stocks in Mumbai closed higher after direct tax collection rose 17% in the first half. Reliance ADAG places $8.29 billion order to Shanghai Electric for supply of power equipments. Reserve Bank of India conducts special auction and announce measures to lower liquidity crunch. Bank of Baroda earnings rise 61%.

China Banks Report Robust Earnings Growth

Chandrasekhar Atreya
29 Oct, 2010
New York City

Stocks in China region closed lower. Two of the five largest banks were the latest to report surging profits. ICBC and Bank of Communications earnings surged more than 24%. Profit growth accelerated at listed companies in the third quarter.

Bank of Japan Trims GDP Outlook; Nikkei Drops1.8%

Chandrasekhar Atreya
29 Oct, 2010
New York City

A drop in industrial production index combined with a strong yen dragged Tokyo index lower by 1.8%. Bank of Japan trimmed economic outlook for 2010 and 2011. Nissan recalls 2.14 million vehicles worldwide. New housing starts rise 18% in September.

Queensland Coal Terminal Sale; Lawmakers Resist ASX Merger

Chandrasekhar Atreya
29 Oct, 2010
New York City

Shares in Sydney declined today but gained for the week and month. Queensland puts Abbot Point coal terminal for sale. Sale of new homes dropped in September and demand for credit remained weak. ASX Limited failed to convince lawmakers on the merger benefits with the Singapore Stock Exchange.

Energy Stocks Rise; Halliburton Drops; Gold, Silver Rally

Devan Biswas
28 Oct, 2010
New York City

U.S. stocks edged higher as the dollar declined. Earnings lifted trading sentiment in the U.S. and Europe. First Wind Holdings Inc canceled its public offering. Royal Dutch Shell and Exxon Mobil reported higher earnings. Futures of gold and silver rallied.

U.S. Movers: 3M, Allstate, Las Vegas Sands, Visa

Bikram Pandey
28 Oct, 2010
New York City

PMI Group dropped 9% on larger than expected loss. Symantec Corp gained on higher sales forecast. Teradyne dropped 8% after earnings missed expectations. Visa Inc Sales surged. Las Vegas Sands Corp reported better than expected adjusted earnings.

UK Home Prices Drop; AstraZeneca Profit Falls, Shell Sales Rise

Arthi Gupta
28 Oct, 2010
New York City

The UK indexes gained after high street sales rose and home prices fell more than expected in October. UBM priced $350 million bond offering. AstraZeneca net fell 27% as generic competition dragged performance. Shell earnings rose 7% as revenues grew on improving energy demand.

European Indexes Up; Banco Santander Net Falls, Daimler Profit Surges

Arthi Gupta
28 Oct, 2010
New York City

The European indexes rose after strong earnings. Euro-zone economic confidence rose in October. German jobless rate fell in the month and wholesale turnover rose in the third quarter. French PPI rose in September. Daimler AG earnings surged driven by higher unit sales.

India Signs Nuclear Convention; Sensex Drops

Chandrasekhar Atreya
28 Oct, 2010
New York City

Stocks in Mumbai seesawed to drop below threshold of 20,000. India signs the international convention for nuclear materials commerce. Qualcomm decides to exit BWA spectrum in India. India plans to start rare earth production in 2011 in Orissa.

U.S. Jobless Claims Falls to 3-Month Low; Visa Net Soars

Arthi Gupta
28 Oct, 2010
New York City

U.S. stocks traded higher after weekly jobless claims fell 21,000 to 434,000. Oracle acquired 10.2% stake in Mellanox. Williams Partners agreed to buy Williams Companies

India Movers: Bank of Baroda, Cummins, Kirloskar, SAIL

Mukesh Buch
28 Oct, 2010
New York City

Stock in Mumbai fell. Bank of Baroda rose 3% on net profit. Cummins India surged 4.8% after net profit increased 91.4%. Kirloskar Brothers slumped 3.7% after net tumbled 89%. Steel Authority of India Limited declined 4.6% and profit tumbled 34.5%.