World markets slide after Greek turmoil put investors on edge. Market indexes in Europe and in New York dropped 1% or more and commodities declined. The U.S. trade deficit surged on rising imports from China and growing purchase of crude oil.
U.S indexes dropped 1% as investors were on the defensive as Greek debt talks reach next hurdle. Crude oil halted 3-day rally and commodities declined on the economic worries. LinkedIn jumped 9% after net income soared 30%.
Alliant Energy fourth quarter net increased to $57 million. Brookfield Office fourth quarter net slumped to $338 million and PPL Corp. fourth quarter net increased to $401 million. Telus Corp. fourth quarter net increased 5% to $237 million.
European markets traded lower after the euro zone finance ministers set more conditions for Greece before releasing the next bailout funds. Saab declined 9% after quarterly orders were below expectations. Barclays accelerated plans to cut expenses and trim bonuses.
Stocks in Japan declined and market averages edged lower as corporations reported mixed earnings. Softbank surged on the prospects of China based Alibaba.com going private. Freight shipping companies gained on the price hike for container shipments.
Australian stocks edged lower for the second day following weak results from BHP Billiton and Rio Tinto. Ongoing turmoil in Greece also weighed on investor sentiment. ANZ and Westpac raised interest rates on mortgage lending.
U.S. stocks traded higher on positive domestic earnings and renewed market optimism. Greek negotiations reached next hurdle as lawmakers prepare to approve agreement with international lenders this weekend. Inflation in China surged to a seven month high.
U.S. stocks traded sideways and 49 states agreed to a settlement with five largest U.S. banks for $26 billion for foreclosure abuses. PepsiCo plans to trim $1.5 billion in cost and Cisco Systems quarterly sales exceeded expectations.
Bunge fourth quarter net dropped to $245 million. Cisco second quarter net surged 44% to $2.2 billion. PepsiCo fourth quarter net increased 4% to $1.42 billion. Thomson Reuters fourth quarter net loss swung to $2.6 billion. Visa first quarter net increased to $1 billion.
The software company said quarterly revenues rose 12% to $594 million. Net quarterly loss narrowed 8.6% to $64 million. The company lost 21 cents per share versus a loss of 22 cents per share a year-ago quarter and estimates revenues between $1 billion and $1.02 billion for the second quarter.
Activision fourth quarter net income swung to $99 million. Buckeye Partners fourth quarter net surged to $59.7 million. Calpine fourth quarter net loss narrowed to $13 million. LinkedIn fourth quarter net increased to $6.9 million. Nuance Communications first quarter net income swung to $9.3 mn.
Trade deficit in December increased to $48.8 billion from November. December exports increased $1.2 billion and imports raised $3 billion. The goods deficit rose to $64.3 billion and service surplus unchanged to $15.5 billion. The goods and services deficit increased $8.3 billion from a year ago.
January retail sales were uneven across the 22 chains reporting monthly sales. Sales at Limited, Costco and Saks exceeded the industry average and apparel chain stores were weaker than expected on warmer weather.
Caesars Entertainment priced its public offering at $9 a share and the stock quickly shot up above $17 before settling near $15. The debt heavy casino with no operations in Macau, China is struggling to revive its revenues in the last four years.
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Portfolio managers have traditionally taken advantage of market volatility by diversifying across various asset classes. Nathan White and his team at Paragon Wealth Management, however, run the compan...
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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