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Market Update

Lowe's, MGM, Macy's Rise

Mayank Mehta
18 May, 2009
New York City

Allegheny Energy led the decliners in the S&P 500 index of 8.7%. Lowe

Pulte Homes Q1 Earnings Call Transcript

123jump.com Staff
18 May, 2009
New York City

The homebuilder consolidated revenues declined 59% to $587.4 million in the quarter. Net quarterly loss narrowed 26% to $514.8 million including $410.2 million of pre-tax charges. Earnings per share slipped to $2.02 from $2.75 a year-ago quarter. The company generated 3,022 net new home orders.

In One Minute Sensex in India Surges 17%

123jump.com Staff
18 May, 2009
New York City

The benchmark stocks surge triggered trading halts within seconds of opening and reopening forcing the market to shut down for the rest of the day. The unexpected election outcome surprised investors and short covering forced many brokers to scramble for a cover at the reopening.

Rural Voters in India Select Congress Party

123jump.com Staff
16 May, 2009
New York City

Rural voters in India again delivered a verdict that surprised most political parties. The clear vote of confidence in the Congress led coalition will give India a stable government for the next five years. Rural voters endorsed a jobs program and demanded greater recognition in national policies.

Economies of Germany, France, Italy Shrink

123jump.com Staff
15 May, 2009
New York City

Euro zone economies declined at the fastest pace in thirteen years. The GDP declined at 2.5% in the first quarter on weak exports and falling consumer spending. German economy shrank at 3.8%, Italian declined at 2.4% and French GDP fell at 1.2%.

U.S. Stocks Edge Lower; Oil Drops

123jump.com Staff
15 May, 2009
New York City

The U.S. stocks edged lower on a weakness in banks and energy stocks. Crude oil declined and dollar gained against euro. Euro zone recorded deepest economic decline in the first quarter.

UK Energy Stocks Weak; Ladbrokers Fall 9%

123jump.com Staff
15 May, 2009
New York City

Mining and energy related stocks closed lower in UK on a fall in energy prices. The interbank rate continues to fall. Barclays surged after it confirmed that it has received offers for its investment management unit.

Rio Tinto Surges 7%, Stockland Plunges 9%

123jump.com Staff
15 May, 2009
New York City

Australian stocks rebounded on a rise in commodities and energy prices. Australian dollar declined 1.5% for the week. Rio Tinto surged after it said it is committed to a deal with Aluminum Company of China. For the week, Australian dollar drops 1.5% and the benchmark index declines 4.3%.

JCP Penney, Blockbuster, Abercrombie Fall

123jump.com Staff
15 May, 2009
New York City

The Hartford Financial Services Group led gainers in the S&P 500 index with a rise of 11.5%. Agilent Technologies swings to a fiscal second quarter loss. Blockbuster Inc plunges as quarterly sales miss analysts estimates. J. C. Penney Company first quarter profit falls.

Industrial Production Falls, Flat CPI

123jump.com Staff
15 May, 2009
New York City

Net foreign purchases of long term securities surged to $56 billion with Japan as the largest buyer. Industrial output declined 0.5% in April and consumer price index was flat.

Hartford, Lincoln National Surge; TARP Approval

123jump.com Staff
15 May, 2009
New York City

Six insurers surge after they were approved for emergency funding by the Treasury. Hartford Financial led the surge among six insurers followed by early gains in Prudential, Principal, Ameriprise, All State and Lincoln National.

Machinery Orders Lift Tokyo Stocks; Acom Surges

123jump.com Staff
15 May, 2009
New York City

Stocks in Tokyo edged up and for the week closed higher. Latest machinery orders indicated a sharp surge in overseas orders but the government forecasted weak sales in the current quarter. Sanyo Electric, Sony and Acom gained after the earnings release.

Mumbai Stocks Surge; CPI Falls

123jump.com Staff
15 May, 2009
New York City

Stocks in Mumbai gained. Consumer price index declined in March but above 8% on higher food prices. Congress party suggested that it can form the next government without the help of Communist party. Banks surged on the comments from the RBI governor.

Calm European Markets; Richemont, Aegon Gain

123jump.com Staff
14 May, 2009
New York City

Markets in Germany and France closed nearly flat. Richemont surged 6% after it reported better than expected earnings. Aegon NV soared 6.4% after it reported lower than expected net loss. SAB Miller and offered cautious outlook and Generali net plunged 89%.

U.S. Banks, Insurers Rally, Europe Follows

123jump.com Staff
14 May, 2009
New York City

Investors bid up regional banks and insurance companies a day after stocks fell in these sectors. Jobless claims rose in the previous week and producer prices gained in April on higher food prices. Techs rallied and after the close Nordstrom beat earnings views.