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Indexes in U.S. Europe Drop; Euro, Gold Weak

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

European market indexes and the euro were under pressure after investors worried that Spain and Portugal have not done enough the meet EU deficit requirements. The benchmark index in Portugal dropped 4.2% and in Spain declined 3.5%.

Berkshire to Raise $8 Billion in Debt

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

Berkshire Hathaway filed to sell $8 billion in debt to fund its purchase of Burlington Northern Santa Fe. Berkshire is using cash new stock and debt to acquire its largest purchase in four decades and spend $26 billion.

S&P 500 Drops 2% as Jobless Claims Rise

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

U.S. stocks turned lower after the weekly jobless claims in last week increased 8,000 to 480,000. Non-farm business productivity surged 6.2% in the fourth quarter and increased 5.1% over the last four quarters, the largest increase since 2002.

Valero Energy Q4 Earnings Call Transcript

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

Valero Energy reported 2009 fourth quarter net loss of $1.41 billion or $2.51 a share on earnings of $18.87 billion as against net loss of $3.28 billion or $6.36 a share in the year-ago quarter. The narrower loss was due to cost reduction initiatives and improved revenues.

United Parcel Q4 Earnings Call Transcript

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

The package delivery company reported revenue declined 2.5% to $12.38 billion in the quarter. Net quarterly income soared 198% to $757 million. Earnings per share rose to 75 cents from 25 cents a year-ago quarter. The company estimates earnings per share between $2.70 and $3.05 for 2010.

Foreign Investors Pour $18 B in India

Mayank Mehta
03 Feb, 2010
New York City

Stocks in Mumbai traded higher after foreign investor continue to pour new funds into stock market. 2009 new fund flows of $18 billion exceed the previous high of 2007. Hindustan Dorr-Oliver looks to expand in nuclear power plant business. INOX buys 43.2% stake in Fame India.

Australian Trade Deficit Up; CSR Spinoff Halted

Darlington Musarurwa
03 Feb, 2010
New York City

Australian trade deficit widens in December as imports increase faster than exports. Federal court rejected CSR plan to spin-off its sugar unit. Australia

Indexes in Shanghai, HK Surge 2% Plus

Mayank Mehta
03 Feb, 2010
New York City

Stocks in Hong Kong closed higher tracking gains in the U.S. Cnooc Ltd surged after it indicated as much as 27% increase in crude oil and natural gas production. Metallurgical Corp of China Ltd. may take as much as 5% for $200 million in Australia based Resourcehouse.

Markets in U.S., Europe Fall After 2-day Rally

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

Stocks in U.S. and Europe declined after weaker than expected growth in service sector. Commodities closed lower with copper and zinc down more than 3% as the dollar gained. Imperial Capital Group postponed its $115 million initial public offering.

Honda, Takeda Drive Tokyo Stocks; Prius Recall

Darlington Musarurwa
03 Feb, 2010
New York City

Tokyo stocks edged higher at close. Earnings at Honda, Mitsubishi UFJ, Takeda Pharmaceuticals and Kobe Steel drove stocks in Tokyo higher. Toyota sales declined 16% in January in the U.S. and expanded its product recall to Japan.

Cadbury Holders Prefer Kraft Shares; BAE Falls

Mayank Mehta
03 Feb, 2010
New York City

UK stocks closed lower and consumer confidence revived in January. BAE Systems declined 2% after the company share losses in the joint fighter plane development program with Lockheed Martin. Autonomy Corp fourth quarter profit rises. Standard Life fourth quarter revenues increased sharply.

European Automakers Gain; Markets Decline

Mayank Mehta
03 Feb, 2010
New York City

European markets closed lower on the persistent worries related to rising deficit at smaller member nations in the EU. Norway left its key lending rate at 1.75%. Electrolux dropped on lower than expected earnings. Vinci fourth quarter revenue declined 4.5%.

News Corp Rises; Walgreen, Ralph Lauren Fall

Mayank Mehta
03 Feb, 2010
New York City

The Western Union Company led the decliners in the S&P 500 index with a loss of 9.2%. Fiserv, Inc fourth quarter net income rises 90%. News Corp lifts 2010 outlook. Comcast Corp fourth quarter profit rises as the revenues gain. Pfizer Inc fourth quarter profit misses expectations.

U.S. Service Sector Weak; Stocks Struggle

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

U.S. stocks declined after service industry expanded at a slower pace in January than estimated. Private sector cut 22,000 jobs according to a latest private survey. Crude oil inventories increased at the end of last week.

Strong Finish in Asia; Honda, Esprit Rise

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

Asian markets rebounded at close. Earnings at Honda, Mitsubishi UFJ and Esprit Holdings drove stocks in Tokyo and Hong Kong higher. The Sensex index in India surged as foreign investors pour money in listed companies.

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