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Market Update

First Solar Rises; Polo Ralph, Rentrak Fall

Mayank Mehta
15 Jun, 2010
New York City

Best Buy Co., Inc. led the decliners in the S&P 500 index with a loss of 5.2%. FactSet Research net income rises slightly. FelCor announces public offering of common stock.

Cablevision to Acquire Bresnan for $1.37 Billion

Chandrasekhar Atreya
14 Jun, 2010
New York City

Cablevision Systems Corp has agreed to buy Bresnan Communications Co, owned by Providence Equity Partners Inc, in a definitive agreement for $1.365 billion to expand its services in the western U.S.

European Markets Advance; Trade Surplus Declines

Arthi Gupta, Mayank Mehta and Sanjay Barot
15 Jun, 2010
New York City

European markets rebound after Moody''s lowered its rating on Greece bonds to Ba1 from A3 or ""junk"" status, amid continued financial concerns for the country but offered a stable outlook.

U.S. Stocks Climb; Import Prices Fall 0.6%

Arthi Gupta, Mayank Mehta and Sanjay Barot
15 Jun, 2010
New York City

U.S. stocks trade higher despite Moody''s downgrading of Greece''s debt rating to ""junk"" status. U.S. import prices fall 0.6% in May. BSkyB rejects News Corp.''s buyout offer. Fitch Ratings downgrades BP Plc ratings and Obama pledges to press BP Plc for swifter spill damage payments.

Indian Cabinet Approves Stake Sale in Two Units

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
15 Jun, 2010
New York City

The Indian cabinet today approved sale of 10% stake in two state-owned units, Coal India Ltd and Hindustan Copper Ltd as part of it plan to disinvest stake in some 35 state-owned companies.

Home Mortgage Risk High Says China Regulator

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
15 Jun, 2010
New York City

China Banking Regulatory Commission said in its annual report published on its Web site that it is seeing growing credit risks in the real estate industry and warned that non-performing loans could pose a threat to the economy.

Greek Downgrade Drags Australian Stocks Down

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
15 Jun, 2010
New York City

Australian dollar fell today, snapping its five day against the greenback and its highest rate since May, after the central bank said Europe

BOJ Injects 3 Trillion Yen to Boost Economy

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
15 Jun, 2010
New York City

The Bank of Japan has decided to offer as much as 3 trillion yen as loans to companies through banks in an effort to boost the economy. The loans will be for four years and applications from banks will be accepted through March 2012 at the benchmark interest rate, it said in a statement today.

Sensex Gains ; Inflation Rises to 10.16% in May

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
14 Jun, 2010
New York City

Annual rate of inflation measured in wholesale price index increased to 10.16% in May compared to 2.67% for a year ago. The index increased 1.7% to 258.1 from 253.7 in April as per a government report released in New Delhi today.

China and Taiwan Agree to Boost Trade

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
14 Jun, 2010
New York City

China and Taiwan have agreed to boost trade between mainland China and Taiwan, after the third round of talks ended in Beijing yesterday. China will reduce tariff on about 500 items coming in from Taiwan and in the reverse direction Taiwan will reduce tariff on about 200 items.

Nikkei Climbs 1.8%; Business Sentiment Rises

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
14 Jun, 2010
New York City

Stocks in Japan gained for the third day today after a government report showed an improved outlook in the country for capital spending and increased consumer confidence in the world

FTSE Gains; Weir To Acquire Linatex

Arthi Gupta, Mayank Mehta and Sanjay Barot
14 Jun, 2010
New York City

The UK markets climb on rising commodity prices. UK-based Weir Group to buy Malaysia-based Linatex group of companies. Majestic Wine quarterly profits surges 242%.

Akamai, Questcor Decline; SanDisk Gains

Mayank Mehta
14 Jun, 2010
New York City

Intuitive Surgical, Inc. led the decliners in the S&P 500 index with a loss of 2.7%. Energy stocks post solid gains.

Euro-Zone Industrial Output Rises 0.8%

Arthi Gupta, Mayank Mehta and Sanjay Barot
14 Jun, 2010
New York City

European stocks extend gains for a fourth consecutive session after the euro area industrial output rose by 0.8% in April. The euro surges to an 11-day high. Resolution agrees to buy certain Axa operations in the UK for

U.S. Stocks Rally; Cablevision To Buy Bresnan

Arthi Gupta, Mayank Mehta and Sanjay Barot
14 Jun, 2010
New York City

U.S. stocks trade higher on upbeat euro-zone industrial production report. Obama urges BP Plc to set up escrow account to pay for oil spill damages in the Gulf of Mexico. Cablevision agrees to buy Bresnan for $1.36 billion.