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Market Update

U.S. Movers: Carnival, Red Hat, Walgreen, Nike

Mukesh Buch
22 Dec, 2010
New York City

Carnival fourth quarter revenues rose 7% to $3.50 billion. Humana completed acquisition of Concentra Inc. in $790 million. Nike, second quarter revenue increased 10% to $4.84 billion. Red Hat, third quarter total revenue increased 21%. Walgreen first quarter net sales increased 6% to $17.34 billion.

Greek Parliament to Approve Austerity Measures; German Import Prices Rise

Arthi Gupta
22 Dec, 2010
New York City

The European indexes traded mixed after Greece received downgrade warning as lawmakers haggle to approve austerity measures. German import prices climbed in November and Italian retail sales rose in October. Denmark economy expanded in the third quarter. The Czech central bank held interest rates.

Fitch Lifts India Growth Estimate to 8.7%; Coal Mines Stakes in Africa

Chandrasekhar Atreya
22 Dec, 2010
New York City

Mumbai stocks dropped in choppy trade. Gartner latest report noted that India continues to be the favorite destination for outsourcing. World Bank awards India a loan of $1.5 billion for development of rural roads and infrastructure.

India Movers: Abbott India, Amar Remedies and Patel Engineering

Mukesh Buch
22 Dec, 2010
New York City

Abbott India fourth quarter net profit rose 7.9%. Mafatlal Industries reported a net loss in second quarter. NHPC agreed to set up 2,100 megawatt of hydro-electricity. State Bank of India plans to acquire second bank in Indonesia.

Japan Exports Rise 9.1%; Bank of Japan Purchases 250 Trillion Yen Bonds

Chandrasekhar Atreya
22 Dec, 2010
New York City

Tokyo stocks edged lower after hitting a fresh 7-month high intra day as investors booked profits for the weekend. Bank of Japan confirmed 25 trillion yen bonds and assets purchase. Exports surge 9% in November.

Australian Regulator Sues Three Banks; Lynas in a Rare Earth Malawi Deal

Chandrasekhar Atreya
22 Dec, 2010
New York City

Australian indexes edged up and BHP Billiton led gainers. Australia

2-Year Rally in U.S. Indexes Cross Pre-Lehman Crisis High

Bikram Pandey
21 Dec, 2010
New York City

U.S. stocks rallied and crossed the highs last seen two years ago in September 2008. The S&P index has surged 85% since the lows of March 2009. Retailers rose after holiday sales appear to accelerate in the final days ahead of Christmas holiday. Markets in Asia and Europe gained.

U.S. Movers: AOL, Adobe, CarMax, CPI, Darden Restaurants

Mukesh Buch
21 Dec, 2010
New York City

AOL agreed to acquire a personal profile site. Adobe fourth quarter revenue surged 33% to a record $1 billion. Biogen agreed to acquire Neurimmune. ConAgra, second quarter net sales improved 2%. CarMax, third quarter net revenue surged 23% and Jabil Circuit, first quarter net revenue surged 32.3%.

UK Indexes Gain; Government Borrowing At Record Highs

Arthi Gupta
21 Dec, 2010
New York City

The UK index climbed after banking and mining stocks rose. The UK consumer confidence remained static in December but public sector net borrowing rose more than anticipated. BP inked five-year outsourcing services agreement with HP.

European Indexes Gain on China Comments; DSM Acquires Martek Biosciences

Arthi Gupta
21 Dec, 2010
New York City

The European indexes gained after China

U.S. Index Futures Rise; Adobe Swings to Profit

Arthi Gupta
21 Dec, 2010
New York City

The U.S. index futures rose on optimism of economic recovery. Toronto-Dominion inched closer to acquire Chrysler Financial for $6.3 billion. Buckeye agreed to acquire 80% stake in Bahamas Oil for $1.36 billion. Martek agreed for takeover offer by Koninklijke DSM in $1.09 billion deal.

India Movers: Glenmark, ICICI Bank, Ispat, Mahindra Satyam

Mukesh Buch
21 Dec, 2010
New York City

Bajaj Hindusthan agreed to set up 1,980 megawatt power project at Bargarh. Mahindra Satyam plan to list the company stock in New York. NMDC third quarter advance tax payment surged 246%. Sun Pharmaceutical sued by Swiss drug maker Hoffman-La Roche in the U.S. for alleged patent infringement.

Shanghai Home Price and Sales Increase Lift China Indexes

Chandrasekhar Atreya
21 Dec, 2010
New York City

Stocks in China rose as tensions in the Korean peninsula receded and property prices stayed buoyant. New homes sales in Shanghai register double digits growth in volumes and price from a week earlier. Hong Kong

Nikkei Gains 1.5%; Japan Left Rates at Historic Low

Chandrasekhar Atreya
21 Dec, 2010
New York City

Tokyo stocks snapped its three-day decline with a rise of 1.5% after Bank of Japan kept key interest rate and asset purchase plan unchanged. The U.S. government imposed a fine $32 million on Toyota Motor. Japan and South Korea sign a nuclear deal.

Sydney Stocks Rise on Stronger Commodities Prices

Chandrasekhar Atreya
21 Dec, 2010
New York City

Australian stocks traded higher led by surging mining stocks after commodity prices reached a 27-month high. Policy Transition Group releases a list of recommendations on MRRT. Ramsay Healthcare revised higher full-year profit outlook.