INTERNATIONAL MARKET NEWS

Asian-Pacific benchmarks finished largely in the positive, led by the Nikkei which hit a fresh five-year high of 2.02% to 15,957.57, boosted by exporter issues like Honda Motor and other strong sectors, including the real estate sector with Mitsubishi Estates in the lead. Across the region, South Korea’s Kospi rose 1%, Hong Kong’s Hang Seng advanced 0.5%, and Sydney All Ordinaries climbed 0.9%.

European stocks closed higher, lifted by strong energy and metals stocks, corporate news from Philips Electronics, and strong U.S. markets start. The German DAX 30 rose 0.5%, the French CAC 40 gained 0.7%, and London’s FTSE 100 gained 0.6%.

OIL, METALS, CURRENCIES

Crude oil prices hovered over $58 a barrel on petroleum report, which showed an increase in oil inventories but decline in distillate fuels. Light sweet crude for January delivery gained 47 cents to $58.56 a barrel on the Nymex. Heating oil traded at $1.7825. Gasoline traded at $1.5784. Natural gas rose 19 cents to $14.27 per 1,000 cubic feet.

Gold prices declined in European trading. In London gold closed at $493.60, down from $502.10 per troy ounce. In Zurich the precious metal fell to $492.10 from $507.35. In Hong Kong gold fell $12 to close at $493.95. Silver closed at $8.29, down from $8.51. In New York gold dropped $1.70 to $495.30.

The U.S. dollar advanced against its major counterparts in European trading. The euro was quoted at $1.1817, down from $1.1863. The dollar bought 117.42 yen, down from 117.06. The British pound traded at $1.7412, down from $1.7541.

EARNINGS NEWS

Actuant Corp. (ATU: chart) diversified industrial company, posted Q1 net profit of 70 cents a share, up from 62 cents a share in the year-earlier period, topping analyst expectations of 66 cents a share. Sales climbed 42%, boosted by acquisitions. On a same-business basis, sales were flat after falling 5% the year earlier.

ATI Technologies (ATYT: chart), maker of graphics card, reported an 88% decline in profit. Adjusted earnings per share of 10 cents fell from 28 cents a year ago despite revenue growth to beat analyst forecasts for earnings of 4 cents a share.

Palm Inc. (PALM: chart), maker of handheld devices, reported its fiscal Q2 net profit soared to $5.02 a share, up from 48 cents a share in the year-earlier period as it booked a tax-related gain and revenue climbed 18%. The results topped analysts'' estimates and the company issued an upbeat outlook for the current quarter. If not for the tax benefit and other items, earnings would have been 47 cents a share, down from 53 cents a share. Analysts expected the company to post a profit before items of 43 cents a share.

Nike Inc. (NKE: chart), athletic footwear and apparel company, reported that Q2 profit advanced 15% to $1.14 a share, up from 97 cents in the year-ago period. Earnings beat analysts'' estimate by 11 cents a share. Revenue rose 10% from the comparable period. Strong sales and higher margins at its Nike brand businesses in the U.S. and the Americas drove the better-than-expected earnings.

Jabil Circuit Inc. (JBL: chart), electronic systems company, reported a Q1 profit of 37 cents a share, up from 27 cents a share in the year-ago period on revenue growth. The company posted core earnings of 44 cents share, beating the analysts’ estimates for 42 cents a share.

Joy Global Inc. (JOYG: chart), a provider of mining equipment and services, posted a Q4 net income of 45 cents a share, up from 16 cents a share in the year-ago period, in line with the analysts’ expectations. Net sales for Q4 advanced 36%. Coal prices in the U.S. remain strong, particularly in the Powder River Basin. The non-U.S. coal business will increasingly be driven by the emerging markets of China, Russia and India.

ATI Technologies (ATYT: chart), maker of graphics card, reported an 88% decline in quarterly profit. Adjusted earnings per share came to 10 cents a share, down from 28 cents a share a year ago despite revenue growth, beating analyst forecasts for earnings of 4 cents a share.

FedEx Corp. (FDX: chart), package delivery company, reported Q2 earnings of $1.53 a share, up from a profit of $1.15 a share a year-ago on 10% revenue growth, beating analyst estimate of $1.40 a share. The company stated it saw a sharp improvement in its operating margins to 9.8% from 8.2% a year ago due to strong customer demand and a disciplined pricing approach.

CarMax Inc., (KMX: chart), car seller, reported Q3 earnings of 25 cents a share, up from a profit of 17 cents a share in the year-ago period on 17% sales growth, topping analyst estimate of 21 cents a share. The latest results include a gain of 3 cents a share related to the company''s Auto Finance operations. The company also said it will no longer provide a forecast of its financial outlook on a quarterly basis. Instead, it will only provide an estimate of same-store used unit sales and earnings per share for the full year.