U.S. markets wavered and the latest Fed statement showed no appetite for another stimulus plan. European markets watched Greek developments as the ECB president urged Greek leaders to stick to austerity plans and asked Greek banks to recapitalize. The euro slid and oil and precious metals weakened.
U.S. indexes edged higher after housing starts rose in April. GE agreed to acquire Australia-based Industrea in a deal valued at approximately A$700 million and Fairchild International in support of the global expansion of its mining business.
Deere & Co. second quarter net soared 17% to $1.06 billion. J. C. Penney first quarter net swung to $163 million loss. Staples first quarter net slipped 6% to $187 million and Target first quarter net rose 1.2% to $697 million and raised the outlook.
The European indexes edged lower. Fresh elections will be held in Greece in June. Euro area annual inflation eased and jobless claims in the UK fell unexpectedly in April. EADS lifted full year earnings outlook.
Nikkei index in Japan dropped below 8,800 for the first time in two months on the growing worries in the euro zone and more outflows from international funds.
Australian stocks plunged as the index dropped the most in one day in six months and extended losses in the last two months. The dollar fell to the low of the year. BHP Chairman Jacque Nasser estimated commodities prices are expected fall further and the company may revise its 5-year investment plan of $80 billion.
Stocks in Japan eased as resources linked companies declined for the second week in a row. Tokyo stocks fell in sympathy with global markets after euro zone political and economic worries overwhelmed domestic earnings in Japan and Asia.
U.S. indexes climbed after retail sales rose and consumer prices remained flat in April. Facebook raised the price range of its initial public offering. Coty withdrew $10.7 billion takeover bid for Avon Products.
Australian stocks eased on the growing confirmation that the euro zone is sliding into a recession and Greece is likely to face another parliamentary election as early as next month. Resources linked stocks declined and gold and energy stocks led the losers.
MasterCard Inc said first quarter revenues gained 17% and net income soared 21% and issued a cautious outlook. The company guided cumulative average annual revenues growth in 2012 and 2013 between 12% and 14% and stressed any additional PIN enabled debit card transaction yield lower than average.
Abercrombie & Fitch first quarter net tumbled 88% to $3 million. Abiomed fourth quarter net income swung to $2.57 million. Chico’s FAS first quarter net rose 1.2% to $53.6 million. Deere & Co. second quarter net soared 17% to $1.06 billion. Target first quarter net increased 1.2% to $697 million.
Crude oil inventories at the end of last week increased 2.1 million barrels to 381.6 million barrels. Motor Gasoline inventories decreased 2.8 million barrels and that of finished gasoline and blending components decreased from last week and distillate decreased 1 million barrels.
Comparable same store sales at chain retailer in April barely increased 0.8%. Early Easter pulled sales in March and failed to extend gains the month. Combined two months comparable sale in April rose at half the pace compared to a period ago as consumer spending slows down.
Facebook Inc. said in an amended form S-1 filing with the U.S. Securities and Exchange Commission on Wednesday that it is boosting its initial public offering size.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.
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