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Market Update : 
Maytag Extends Losses
Author: Elena Todorova
123jump.com
Last Update: 9:34 AM EST February 03 2006

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Asian-Pacific benchmarks ended mostly down, led by South Korean Kospi with a steep drop of 3%. The Nikkei lost 0.3%, while heavy-tech Taiwan''''s Weighted index rose 0.96% resuming rade after the extended holiday. European shares gained at mid-day with the Geman DAX 30% rising 0.5%. Maytag posted wider Q4 net loss of 93 cents a share, despite 7% sales growth, missing estimates. Moody reported 22% income rise in Q4 on 21% revenue growth.

 
Volvo Group, (VOLVY: chart), truck maker, reported that Q4 net income dropped 15% to 7.37 kronor a share, while sales grew 15%. The company announced that operating margin in Q4 fell to 6.5% from 8.2% last year on account of extensive product launches. Volvo stated its income was affected by a 430 million kronor capital gain from the sale of Celero and a 550 million kronor write down of its holdings in Blue Bird.
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