US Indices Make a Late Recovery; Yahoo Reports Earnings After the Bell (YHOO)
PUBLISHED ON: Oct 22, 2012
On Monday the markets recovered from early losses, helped by the tech industry and Apple (AAPL) specifically. It is clear that investors currently hold a great deal of uncertainty, indicating that there may not be many major moves in the near future. The energy sector was up with Peabody Energy (BTU) reporting earnings higher than previously expected, and BP (BP) and a Russia based oil company ending a nine year relationship with the BP sale of half its stake in the joint venture.In after hours trading Yahoo (YHOO) announced a small gain while Texas Instruments (TI) stock dropped after releasing its third-quarter results. Also on Monday Japan reported a drastic decline in exports, sending global indices down on the weak data. The US dollar gained against both the euro and the Japanese yen.
Word on the Street
- Rosneft agrees to pay $55 billion to buy out TNK-BP's owners, including BP (BP).
- Caterpillar Inc.'s (CAT) Q3 profit reportedly up 49% but cuts full-year earnings outlook due to a decline in sales.
- Exports in Japan drop the most since last year's earthquake due to global slowdown and its relationship with China.
- Europe-based Permira Advisors LLC buys out Ancestry.com for $1.6 billion.
- Peabody Energy Corp (BTU) announces higher-than-expected profit sending shares up.
- Oil and other energy futures end lower on Monday while Keystone pipeline is expected to restart today.
- Monster Beverage Corp. (MNST) slides after knowledge surfaces of recent deaths.
- Philip Morris (PM) Misses Estimates Due to Sluggish Growth in Europe.
Posted in ...Daily Market Commentary