- Nichole Harper
- 12 Oct, 2011
- New York City
Wall Street opened higher following the gains in Europe and on positive domestic earnings expectations. PepsiCo, Inc gained 3% after it met lowered earnings outlook and Alcoa Inc fell 3% on an earnings miss. The Nasdaq index trimmed its losses for the year to 1.3% and the S&P 500 index to 3.5%.
- Mukesh Buch
- 12 Oct, 2011
- New York City
Alcoa third quarter net income increased 21% to $172 million. Liz Claiborne agreed to sell its brands to retailers J.C. Penney and Kohl''''s. PepsiCo third quarter net income rose 4% to $2 billion.
- Devan Biswas
- 12 Oct, 2011
- New York City
European markets rebounded and looked beyond Slovakia vote. Miners and industrial companies gained after August industrial production surged across the region from a year ago. German 30-year bond failed to attract investors and the ECB lent $1.35 billion in emergency loans to only six banks.
- Nigel Thomas
- 12 Oct, 2011
- New York City
Japanese stocks declined and machinery order in August increased more than expected in August. Toyota and Honda reported widespread production stoppages in Thailand after a third of country is devastated by the flooding.
- Marcus Jacob
- 12 Oct, 2011
- New York City
Australian stocks halted a 5-day rally after metals prices declined in overnight trading in world markets. BHP committed $1.2 billion in capital for the first phase of Olympic Dam project that will quadruple copper production. JB Hi-Fi quarterly comparable sales fell 3.5%.
- Bikram Pandey
- 11 Oct, 2011
- New York City
U.S. stocks drifted and investors digested promises of quick resolution to the banking recapitalization plan in the euro zone. Slovakian lawmakers rejected the measure to expand the rescue fund and also triggered the fall of the coalition government.
- Devan Biswas
- 11 Oct, 2011
- New York City
European markets closed lower as Slovakian lawmakers debate to approve the expansion of the European rescue fund. Greece said inspectors from troika completed the their mission and approved the release of sixth tranche of aid. A Ukrainian court convicted former prime minister Tymoshenko.
- Mukesh Buch
- 11 Oct, 2011
- New York City
99Cents Only agreed to be acquired by Ares Management and Canada Pension Plan. Dollar Thrifty decided not to seek a buyer. The Jones Group confirmed the discussions with Israel based Delta Galil Industries to sell its Jeanswear division.
- Devan Biswas
- 11 Oct, 2011
- New York City
Stocks in New York traded sideways as European leaders set the deadline of October 23 to announce bank recapitalization plan. 99 Cents Only agreed to be taken private and Dollar Thrifty declined 2% after it decided to remain independent after eighteen months of searching for a buyer.
- Nigel Thomas
- 11 Oct, 2011
- New York City
Stocks in Japan soared after a 3-day weekend. Current account surplus declined for the sixth month in a row to $5.3 billion. Toyota sales in China increased 11% in September. Takashimaya Corp revised earnings outlook and Nidec increased its share buyback plan.
- Marcus Jacob
- 11 Oct, 2011
- New York City
Australian stocks for the fifth day in a row and resource stocks led the gainers. The Australian dollar traded above parity with the U.S. dollar in intra-day trading. Banks gained and resource linked stocks closed mixed.
- Bikram Pandey
- 10 Oct, 2011
- New York City
U.S. indexes soared and banks surged 6% after European leaders offered more promises. Market sentiment may dent if politicians fail to deliver on their promises. Banks in Europe were in focus after the largest bank was nationalized. Slovakia vote on the rescue fund may offer a surprise.
- Mukesh Buch
- 10 Oct, 2011
- New York City
AT&T received pre-orders of 200,000 for iPhone 4S in the first 12 hours. Complete Production agreed to be acquired by Superior Energy in cash and stock for $6.2 billion. Netflix decided to reverse its earlier decision to split. Scotts Miracle-Gro lowered annual earnings outlook for the third time.
- Nichole Harper
- 10 Oct, 2011
- New York City
Stocks in early trading in New York surged more than 3% after France and Germany reiterated their support to recapitalize banks. Banks, materials and transportations stocks led the rally. Complete Production Services soared 34% after it agreed to a $2.6 billion bid.
- Devan Biswas
- 10 Oct, 2011
- New York City
European markets jumped on the hopes that Germany and France will follow through the promises to facilitate bank recapitalization plan. Slovakia is set to vote on the expansion of the European rescue fund. Erste Bank announced