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Market Update

Marico Arm Acquires Singapore Firm Derma Rx

Chandrasekhar Atreya
27 May, 2010
New York City

India based consumer goods major Marico Ltd acquires Singapore-based skin care firm Derma Rx for an undisclosed sum to expand its reach further in Middle East and Southeast Asia.

Volatile U.S. Stocks; Apple Surpasses Microsoft

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

U.S. stocks rebounded in the morning trading on better than expected durable goods orders sales and new home sales in April. Stocks struggled in the afternoon and closed lower. Apple Inc closed as the most valuable technology company and the second most valued U.S. company, only behind ExxonMobil.

UK Indexes Up 2.8%; Burberry Sales Rise

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

UK stocks rebound on the positive economic outlook and improving sentiment after a six-day sell-off. Brewin Dolphin Holdings PLC net profit in the first half surges 36%. Burberry Group plc rose 4.5% after sales in the latest fiscal year rise 8%.

European Markets Higher; OECD Warning

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

European markets rebounded after losing nearly 5% in the last six trading sessions. French April consumer spending drops as car purchases slump. Telefonica SA urged Portugal Telecom shareholders to consider its bid for Brasilcel.

Ford, Citigroup Gain; Abercrombie Declines

Mayank Mehta
26 May, 2010
New York City

Abercrombie & Fitch Co. led the decliners in the S&P 500 index with a loss of 1.6%. FIS board authorizes $2.5 billion share repurchase plan. Toll results boost shares in premarket. Energy stocks recover after recent losses.

Sensex Rebounds; NHPC net jumps 84%

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

The stocks in India rose the most in a fortnight after world markets and commodities prices recover and investors focus on the economic outlook in India. The benchmark index had dropped as much as 11% since April 7.

U.S. Stocks Rebound on Durable Orders

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

World markets and U.S. stocks rose as tensions about war in the Korean peninsula have been diffused to a great extent and the global markets made a modest recovery. Global recovery gathers momentum. U.S. durable goods orders rises by 2.9% in April.

Shippers, Insurers Lead in China Markets

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

Prospect for increased demand for commodities in China helped the stock markets in China rally for the third day in four, after shipping and resource companies projected better profit outlook.

Australian Miners Bid for Queensland Rail

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

The benchmark stock index rose 1% in Australia driven by commodity stocks as gold prices edged up 0.7% to $1,206 per ounce and crude oil prices advanced 0.8% to $69.3 per barrel on signs the global economy is recovering.

Stocks Meander in Tokyo; JAL Restructuring

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

Stocks in Tokyo traded mixed and oil and copper closed higher. The Nikkei 225 Stock Average gained and the yen strengthened against the euro for the third straight day.

Hartford Financial Q1 Earnings Call Transcript

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

First quarter net income was $319 million or 42 cents a share & core earnings were $545 million. On a per-share basis core earnings of $0.14 and a net loss of $0.42. Underwriting profitability was strong with ex-cat accident year combined ratio of 92.8%. First-quarter impairments were $152 million.

Late Rally in U.S. Stocks; World Markets Weak

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

U.S. stocks dropped in the morning trading and recovered in the late afternoon. Banks and brokerages surged after the U.S. law makers appear to permit banks keep derivatives business. Rising tensions in the Korean peninsula and ongoing worries in the euro-zone remained the focus of investors.

UK Stocks Decline; M&S Net Rises

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

The UK benchmark index dropped but recovered from the lows of the day. UK services output growth eases slightly in March and first quarter GDP rises to 0.3% on an upward revision in manufacturing. Marks and Spencer Group plc net up.

EMC, Sara Lee Fall; Goldman Sachs Rises

Mayank Mehta
25 May, 2010
New York City

AutoZone, Inc. led gainers in the S&P 500 index with a rise of 3.8%. Medtronic profit up sharply and revenue tops $4 billion. Donaldson''s quarterly net income jumps 86%. Phillips-Van Heusen swings to first quarter loss.

IBM Pays AT&T $1.4 Billion for Sterling Commerce

Chandrasekhar Atreya
25 May, 2010
New York City

IBM agrees to acquire Sterling Commerce in a definitive agreement from AT&T for $1.4 billion in an all cash deal. The addition of this business-to-business firm to IBM