Market Update

XL Capital, Vimpel Rise; SunPower Falls

123jump.com Staff
12 May, 2010
New York City

XL Capital Ltd led gainers in the S&P 500 index with a rise of 8.4%. Fidelity National shares rise on deal talk. Walt Disney quarterly net surges 55%. Electronic Arts Inc swings to a profit in fiscal fourth quarter. Ambac drops after it delays its quarterly regulatory filings.

Elevated Industrial Production in India

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
12 May, 2010
New York City

Stocks in Mumbai traded higher after industrial production increased in March. The rise in production of more than 10% for the sixth month in a row prompted worries of higher inflation. Rupee gained. Bajaj Auto fourth quarter net triples in the fourth quarter.

Fidelity National Deal; Gold Up, Calm Europe

Arthi Gupta, Mayank Mehta and Sanjay Barot
12 May, 2010
New York City

U.S. stocks traded higher after March trade deficit widens and private equity groups partner to acquire Fidelity National Information. Markets in Europe were calm after Spain pledged to cut expenses and the bonds of Spain and Greece gained.

Indicators in Japan Improve; Reserves Rise

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
12 May, 2010
New York City

Stocks in Japan struggled as the yen gained and banks declined. Latest read of economic data suggested an improvement in economic conditions. Foreign reserves assets rise above $1 trillion. Toyota estimated latest years net to rise 48% and Olympus dropped after it estimated net to decline 56%.

Austalian Budget; CBA Net Up 30%

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
12 May, 2010
New York City

The Australian dollar and stocks fell after the government proposed to return to a budget surplus in three years. Mortgage lending shrinks 1.4% in March. Transurban rejects A$7.2 billion offer. Commonwealth Bank fiscal first quarter earnings increase 30%.

U.S., World Markets Ease; Gold, Dollar Advance

123jump.com Staff
11 May, 2010
New York City

U.S. indexes and world markets cooled after more doubts arise on the EU bailout plan. Greece already tapped the emergency fund by the EU to pay for the bonds next week. Stocks traded higher but sold off in the late afternoon as the dollar and gold gained. Gold surged $33.

Political Deadlock in UK; Weak Pound

Arthi Gupta, Mayank Mehta and Sanjay Barot
11 May, 2010
New York City

U.K. stocks weaken as doubts persist over the implementation of the European Union''s bailout package. Commodity stocks decline as metal and oil prices fall. Political deadlock continues in the UK but the prospects of a Lab-Lib alliance improve. The UK output rises 2.0% in March.

Markets Cool in Europe on Bailout Conditions

123jump.com Staff
11 May, 2010
New York City

European stocks fell amid concerns the proposed $1 trillion rescue package may not offer a long-term solution to the region''s fiscal woes. The euro fell to 4-day low. Wholesale price index for April rises 6% Germany. Deutsche Post AG profit rises 85%.

GameStop, Priceline Fall; Fossil Rises

Mayank Mehta
11 May, 2010
New York City

GameStop Corp led the decliners in the S&P 500 index with a loss of 13.8%. McDermott profit and sales declined. LDK Solar swings to profit . Fluor profit dips on lower oil and gas business. MBIA swings to net loss in first quarter.

U.S., Global Stocks Decline; EU Worries

Arthi Gupta, Mayank Mehta and Sanjay Barot
11 May, 2010
New York City

Global and U.S. stocks decline amid doubts whether the plan proposed by the EU and the IMF will be sufficient to revive the European markets. The dollar gained against all major currencies and crude oil prices dipped below $76 a barrel. priceline.com quarterly profit surges.

India's Exports Surge; 3G Auction Reaches $1.4 B

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
11 May, 2010
New York City

Stocks in Mumbai traded lower after a surge tracking global markets rebound. The ongoing 3G spectrum auction prices reach a record $1.4 billion. Exports in March soared 54%, fifth monthly increase in a row but declined 4.7% in the fiscal year ending in the month.

Inflation and Property Prices Rise in China

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
11 May, 2010
New York City

Stocks in China region declined after inflation accelerated in April. Producer prices and consumer prices gained and new lending remained elevated. Property prices in the month soar 12.8% in the month. Hong Kong land auction was completed at 33% discount to the assessed value.

McDonald's Q1 Earnings Call Transcript

123jump.com Staff
11 May, 2010
New York City

Sales up 10.4% to $5.61 billion & net income up 11.3% to $1.09 billion or $1.00 a share. Comp. sales rose 1.5% & operating income up 12%. U.S. company operated margins rose 210 basis points to 20.4%. Lower food & paper costs have allowed to continue to grow margin while the line on price increases.

Nikkei Drops; Mizuho $11 B Offering

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
11 May, 2010
New York City

Stocks in Japan closed lower after Mizuho Financial plans to raise as much as $11 billion. Investors also worried that a rising inflation in China will crimp exports to the fastest growing economy in the world. Bank of Japan stops injecting funds into the market.

Australia Closes Lower on Miner's Tax Proposal

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
11 May, 2010
New York City

Stocks in Australia declined on the prospects of higher tax on mining companies. Investors also focused on rising inflation in China and surmised that the latest $1 trillion bailout to EU member nations may not be enough. Asciano group expects A$1.1 billion write down.