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Global Market Update

Financials, Realtors Rise; Oil, Copper Drop
Jul 08, 2008 5:47 PM EDT
Financials, home builders and real estate trust stocks rose sharply after the regulator statement on Fannie Mae and Freddie Mac. Energy and mining stocks declined as crude oil, natural gas and precious and base metal prices fell. Airlines, freight transportation and railroads rallied on falling oil. European markets closed lower on the continued worries related to the health of U.S. banks. Copper, corn, gasoline and crude oil futures drope between 3% and 4%. >>

Goodrich, VMWare, Office Depot Plunge
Jul 08, 2008 12:14 PM EDT
U.S. stocks struggle as investors face higher write-offs from banks and financial brokerages. Fannie Mae and Freddie Mac were the focus of investors for the second day, after the top regulator said that it will not seek the two lenders to seek additional capital on accounting change. Office Depot plunged 32% after same store sales fell 10% in the second quarter. VMWare dropped 26% after it lowered its sales outlook and replaced its chief executive. Goodrich Petroleum commenced offering. >>

Fresenius to Acquire APP Pharma for $3.7 B
Jul 07, 2008 11:43 AM EDT
German healthcare concern Fresenius agreed to pay $23 a share for the US injectable drug maker APP Pharmaceuticals. Fresenius will assume APP’s outstanding debt of $940 million. APP employs 1,400 workers and its drug portfolio encompasses over 100 products. In 2007, Fresenius achieved sales of €11.4 billion while APP posted a profit of $253 million. Last year, Fresenius acquired Renal Solutions, adding to its kidney treatment units. >>

Stocks, Oil, Gold Fall, Fed Wants Bigger Role
Jul 08, 2008 5:20 PM EDT
tU.S. stocks edge higher in the trading afer wholesale sales rise in May. Commodities prices fell for the second day with a sharp decline in crude oil, natural gas and base metal prices. The Federal Reserve chief Bernanke proposes to widen the Fed role and increase lending to financial brokerage firms. Fannie Mae and Freddie Mac may not have to seek additional capital according to the regulator that regulates two mortgage lenders. Asian markets fell sharply in the overnight trading. >>

Fannie, Freddie Sell-Off; Weak Financials
Jul 07, 2008 10:40 PM EDT
Financial stocks fell sharply after the talks of another capital needs at two mortgage agencies Fannie Mae and Freddie Mac. The new accounting rule may require more debt to be consodilated on the balance sheet and force two largest mortgage agencies to raise as much as $75 billion in new capital according to Lehman analyst. Banks and financial brokerage stocks dropped. Euorpean stocks closed higher but Asian stocks continue to struggle in the early morning trading in the region. >>

U.S. Stocks Rise, Yahoo, GM Up, Europe Up 2%
Jul 07, 2008 10:16 AM EDT
U.S. stocks trade higher after crude oil prices slide lower, renewed interest from Microsoft to negotiate with Yahoo and talks of asset sale at General Motors. Three widely followed indexes rise between 0.7% and 1.2%. European markets at mid-day trade up 2%. Stocks in emerging markets rebound around the world, after two weeks of selling, led by a 2% rise in Brazil and Hong Kong. The generic drug maker, APP Pharmaceuticals soared 30% after it agreed to purshase from Fresenius SE of Europe. >>

European Banks, UK Home Builders Fall
Jul 04, 2008 5:20 PM EDT
European stocks closed lower after crude oil traded at another record high and prospect more capital raising from European banks. Benchmark indexes in UK, France, Germany and Switzerland fell. Swedbank dropped 6% and Banco Santander lost 4%. Banks may need as much as $90 billion to meet their required capital reserves. UK stocks fell after a private equity fund decided not to proceed with investment in home builder Bradfod & Bingley. >>

U.S. Techs Struggle, Crude Oil at $145
Jul 03, 2008 7:51 PM EDT
U.S. stocks edged higher but tech stocks remain weak as they have been in the past one month of trading. Crude oil traded at record level as specluators, weak dollar and steady demand drive oil prices. Tech stocks fell, led by weak semiconductor stocks after Nvidia cut its revenue and gross margin guidance. ECB in Europe, raised its key rate by 0.25% to 4.25%. Vodafone agreed to acquire 70% stake in Ghana Telecom to tap into one of the fastest growing wireless markets. >>

Penn National Deal Falls, Yahoo Talks
Jul 03, 2008 2:20 PM EDT
Tech stocks fell for the second day on the weak chip makers and tech services companies. Nvidia plunged 30% after it issued lower revenue and gross margin guidance. The chipmaker will also take a charge of $150 millino in the second quarter. Citigroup, Cowen and Goldman Sachs lowered pricce traget and investment rating on the stock. European markets closed higher on the hopes that latest interest rate increase may not be followed by another rate hike in the near future. >>

June Job Loss, ECB Raise Rates
Jul 03, 2008 12:16 PM EDT
U.S. payrolls declined in June 62,000 totaling to job losses of 438,000 for te first six months of the year. Economy has been losing jobs as construction, banking and retail industries have been laying off people. Separately the European Central Bank raised its key rate by 25 basis points to 4.25%. >>

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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