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Market Update

U.S. Stocks Advance; Manufacturing Slows

123jump.com Staff
01 Mar, 2010
New York City

U.S. stocks advanced after manufacturing expanded for the seventh month in a row. AIG agreed to sell its Asian unit to Prudential Plc for $35.5 billion. Merck KGaA agreed to pay $6 billion beating the offer from Thermo Fisher for Millipore. Copper gained nearly 2%.

Prudential Buys AIG Asian Unit for $35.5 Billion

123jump.com Staff
01 Mar, 2010
New York City

AIG agreed to sell its Asian unit for $35.5 billion to Prudential Plc. The deal will help the troubled U.S. insurer to raise capital to repay U.S. Federal Reserve and Treasury $185 billion bailout. Prudential will raise $20 billion in a rights offering at 40% discount.

Asian Markets Higher; Copper Surges

123jump.com Staff
01 Mar, 2010
New York City

Asian markets closed higher after resource stocks gained in China, Japan and Australia. Copper surged in Asian trading after Chile was struck with 8.8 magnitude earthquake. Insurance stocks gained after Prudential Plc agreed to pay $35.5 billion for Asian insurance division of AIG.

J.C. Penney Q4 2009 Earnings Call Transcript

123jump.com Staff
01 Mar, 2010
New York City

Sales fell 3.6% to $5.55 billion and net income fell 5% to $200 million or 84 cents a share. Gross margin rate was 38.2% for the quarter, an increase of 360 basis points versus last year

Nokia Corp. Q4 2009 Earnings Call Transcript

123jump.com Staff
01 Mar, 2010
New York City

Sales fell 5.5% to

S&P 500, Nasdaq in Feb Up; AIG Drops 10%

123jump.com Staff
26 Feb, 2010
New York City

President Obama''s bipartisan summit on healthcare reform appears to be heading for a stalement. AIG led the decline in S&P index after fourth quarter loss narrowed to $8.9 billion. The Nasdaq Composite added 4.2%, the S&P 500 index increased 2.9% and the Dow advanced 2.6% in February.

UK GDP Revised Up; Lloyds Loss Shrinks

123jump.com Staff
26 Feb, 2010
New York City

Serco Group 2009 net surged 31% and indicated larger order book. Rightmove Plc 2009 profit before tax falls and maintains dividend. Rolls-Royce announced

European Markets Rally; Gobain, Parmalat Shine

Mayank Mehta
26 Feb, 2010
New York City

European markets rallied on the expectations that Germany is closer to providing details of financial assistance to Greece. Bayer AG net for the year dropped 21%. Parmalat SpA 2009 net declined 23% on sales decline of 1.5%. Telefonica SA fourth quarter net surged 22% on Latin American businesses.

AIG, Weight Watchers Falls; Rosetta Stone Rise

Mayank Mehta
26 Feb, 2010
New York City

American International Group, Inc led the decliners in the S&P 500 index with a loss of 7.8%. Fluor Corp reports lower profit and cuts outlook. The Gap, Inc fourth quarter net ahead of expectations.

India Targets Lower Debt, Higher GDP in 2010

Mayank Mehta
26 Feb, 2010
New York City

The fiscal 2011 budget plan to raise $8 billion in stake sale in the government controlled companies and $7 billion through the sale of wireless licenses. Individual income of less than $3,000 will be tax exempt. Infrastructure companies increased after the government increased spending.

U.S. GDP Revised to 5.9%; Home Sales Fall 7.2%

123jump.com Staff
26 Feb, 2010
New York City

U.S. existing home sales in January declined 7.2%, second monthly decline in a row. The second estimate of the U.S. GDP showed an expansion of 5.9%. Stocks declined after weaker than expected home sales. The Gap Inc increased 5.5% after quarterly net surged 45%.

CPI Drops in Japan, Eleventh Monthly Decline

Darlington Musarurwa
26 Feb, 2010
New York City

Japan

Sydney: ANZ, Woolworths Rise; QBE Drops

Darlington Musarurwa
26 Feb, 2010
New York City

Positive earnings drove the market sentiment. Higher commodities prices also contributed the gains in the benchmark index. ANZ profit surged 16% to A$1.6 billion in January. Woolworths first half profit increased 11.4% to A$1.1 billion.

Hong Kong Eases; Shanghai Surges 1.5%

123jump.com Staff
25 Feb, 2010
New York City

CLP Holdings Ltd recommends final dividend. NetEase.com, Inc 2009 fourth quarter profit beats analyst estimates. China Eastern denies it may sell stake in Middle East. China Coal Energy said raw coal output surged 43.9% in January.

Australian Markets Track International Weakness

Darlington Musarurwa
25 Feb, 2010
New York City

Australian business investment gains 5.5% to A$27.7 billion in December. OZ minerals reported 2009 loss of A$517 million loss. REA Group profit rises 76% to A$23.1 million.