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  • ACC, Ambuja slump on non-operational boost in earnings
    Reuters Market Eye - Shares in ACC Ltd and Ambuja Cements India Ltd fall even as their earnings beat forecasts as dealers say other income and tax credit contributed significantly to their net profits. ACC falls 3.6 percent even after reporting on Thursday March-quarter net profit of 3.99 billion rupees ($65.35 million), above consensus forecasts for 3.37 billion rupees. Ambuja Cement is down 4.2 percent after the company reported on Friday a forecast-beating 6.6 percent rise in quarterly profit from a year earlier. Ambuja's net profit was helped after other income rose by 53.2 percent to 1.32 billion rupees from a year earlier, according to company's filing.More

  • S&P cuts Russia's credit rating
    MOSCOW (AP) — The Standard & Poor's credit agency on Friday cut Russia's credit rating for the first time in more than five years, citing the capital flight and risk to investment in the wake of the Ukraine crisis.More

  • Fed, OCC differ in enforcing leveraged lending guidelines

    A view shows the Federal Reserve building in WashingtonBanking and regulatory sources with direct knowledge of the situation said the U.S. Federal Reserve and the Office of the Comptroller of the Currency (OCC) appear to be taking different approaches to implementing a set of guidelines on leveraged loans, even though they issued them jointly in March last year. The OCC, a division of the U.S. Treasury Department, is zealously implementing them, while the Fed is more relaxed about it, the sources said. While all major Wall Street banks are regulated by the Fed, the OCC oversees only those with national bank charters, which allow a bank to build a nationwide branch network.


  • Cairn India slumps as Jan-March earnings disappoint

    Cairn India employees work at a storage facility for crude oil at Mangala oil field at Barmer in the desert Indian state of RajasthanReuters Market Eye - Shares in Cairn India Ltd slump 4.5 percent as its net profit lags some analysts' estimates, especially after adjusting for other income. Cairn India's January-March net profit rose 18.4 percent to 30.35 billion rupees ($497.1 million) from a year earlier, the company said in a statement after the market close on Wednesday. The oil and gas explorer's net profit was helped by a more than fourfold jump in other income to 3.20 billion rupees from a year earlier.


  • Trend-setter Apple's stock split could bring out the copycats
    By Rodrigo Campos NEW YORK (Reuters) - Apple has long been a trend-setter whose hot products attract imitators, and now its recent stock split might help revive a trend from the 1990s that has all but disappeared on Wall Street. Apple Inc's move might inspire others, some believe, but only modestly. "It could become a bit of a trend when you see a name like Apple decide to split the stock," said Ken Polcari, director of the NYSE floor division at O’Neil Securities. Polcari said Priceline Group Inc, the most expensive single stock on the S&P 500, is a prime candidate.More

  • Asian stocks mixed on US earnings, goods orders
    BEIJING (AP) — Asian stocks were mixed Friday after solid earnings for Apple and Caterpillar and better U.S. durable goods orders.More

  • New Microsoft CEO Nadella impresses Wall Street, stresses challenges

    Microsoft CEO Satya Nadella gestures as he speaks during his keynote address at the company's "build" conference in San FranciscoBy Bill Rigby SEATTLE (Reuters) - Microsoft Corp's new chief executive on Thursday won rave reviews for his first public encounter with Wall Street analysts who said he communicated willingness to transform the world's largest software company as it scrambles to catch up in the mobile-computing era. Marking the first time in five years that a Microsoft chief executive joined a quarterly earnings conference call, veteran insider Satya Nadella, who took over the helm on Feb. 4, said his first weeks in the new job were taken up with getting to know the company afresh. He said he is also dealing with the reality of the new tech marketplace in which Microsoft has ceded its market dominance to Apple Inc and Google Inc . "What you can expect of Microsoft is courage in the face of reality;


  • KKR, Nasdaq plan market for trading stakes in buyout funds - WSJ
    (Reuters) - Private equity firm KKR & Co LP plans to allow investors to sell parts of their stake in buyout funds through a new private market run by Nasdaq OMX Group IncMore

  • Hyundai Motor down 3 percent after first-quarter earnings

    Logo of Hyundai Motor Co. is seen on a wheel of a car at a Hyundai dealership in SeoulSEOUL (Reuters) - Shares in Hyundai Motor Co dropped more than 3 percent on Friday after the automaker reported a smaller than expected quarterly profit hit by a strong Korean won. ...


  • Microsoft beats Wall Street on new CEO debut

    The Microsoft logo is seen at their offices in BucharestBy Bill Rigby SEATTLE (Reuters) - Microsoft Corp's new chief executive got off to a winning start with Wall Street on Thursday as the world's largest software company eased past analysts' profit estimates despite the pressure of falling computer sales. Microsoft shares are up about 8 percent since company veteran Satya Nadella took over as CEO in early February, and are up 19 percent since his predecessor Steve Ballmer announced plans to retire last August, easily outpacing the Standard & Poor's 500. Investors are excited about Nadella's focus on mobile and cloud, or Internet-based, computing, designed to take Microsoft beyond its traditional PC-based Windows business. "This quarter is a nice step in the right direction for Nadella and Microsoft," said Daniel Ives, an analyst at FBR Capital Markets.


  • Newmont 1st-quarter earnings fall but costs down, output up
    Newmont Mining Corp, which sources have said is in talks with Barrick Gold Corp on a merger, reported a steep drop in first-quarter earnings on Thursday as a result of lower gold and copper prices. Newmont, the world's second-biggest gold producer after Barrick, managed to lower its gold production costs and slightly lift its gold output in the quarter, including a 40 percent increase in production at its Tanami mine in Australia.More

  • Cloud strength helps Microsoft earnings top Street

    FILE - In this April 2, 2014 file photo, Microsoft CEO Satya Nadella gestures during the keynote address of the Build Conference in San Francisco. Microsoft reports quarterly earnings on Thursday, April 24, 2014. (AP Photo/Eric Risberg, File)LOS ANGELES (AP) — Results from Microsoft's first quarterly earnings release under new CEO Satya Nadella offered fresh justification for his focus on cloud computing.


  • Broadcom results beat forecasts but China hurts
    By Noel Randewich SAN FRANCISCO (Reuters) - Broadcom Corp beat Wall Street expectations in the first quarter, although profit and revenue were lower than a year earlier as the company's high-end chips for smartphones faced fierce competition in China. Underscoring those concerns, Broadcom's revenue guidance for the June quarter was slightly below some analyst expectations. Broadcom and other smartphone chipmakers must adjust as industry growth shifts away from North America toward China and other developing countries where consumers favour handsets selling for under $200 rather than top-tier devices like Apple's iPhone. Broadcom gets around half its revenues from mobile.More

  • Stocks close mostly higher on earnings; Apple up

    Tripp Mancuso, 4, works with his trader father Peter Mancuso on the floor of the New York Stock Exchange, during the NYSE Working Parents/Caregivers Employee Resource Group's annual Take Your Child to Work Day program, Thursday, April 24, 2014. Mixed earnings from a large number of U.S. companies left the stock market without direction early Thursday, despite positive results from a handful of names including Apple and Caterpillar. (AP Photo/Richard Drew)NEW YORK (AP) — The stock market closed mostly higher Thursday, helped by positive earnings out of several large U.S. companies including Apple and construction equipment maker Caterpillar.


  • Proxy advisers split backing in battle for Sotheby's board
    By Svea Herbst-Bayliss BOSTON (Reuters) - Two prominent proxy advisory firms on Thursday split their recommendations on how investors should vote in a battle between auction house Sotheby's and activist investor Daniel Loeb. Institutional Shareholder Services backed two of Loeb's candidates while Glass Lewis & Company recommended that shareholders vote for the company's candidates. The reports will give each side fresh support as they try to sway other shareholders before the May 6 annual meeting. Loeb, whose $14.5 billion (8.6 billion pounds) hedge fund Third Point is Sotheby's biggest investor, has been pushing the auction house to cut costs and become more competitive for months and last year compared the company to "an Old Master painting in desperate need of restoration." ISS recommended that shareholders vote for Loeb, an avid art collector, and Olivier Reza, a former investment banker who runs a private French jewellery company, and said: "It appears that introducing some change into the boardroom is warranted." Glass Lewis wrote that the dissidents have identified areas of concern, but fell short of "making a compelling case that additional changes in the boardroom are warranted at this time beyond those already implemented by the Company." The proxy fight has become one of Wall Street's most-watched battles, pitting one of the industry's best-known activist investors against the 270-year old auction house.More

  • Touchscreen chip demand boosts Synaptics results, forecast
    (Reuters) - Synaptics Inc reported better-than-expected third-quarter results as demand from mobile phone makers for its touchscreen chips surged, sending its shares up more than 12 percent in after-hours trading. Synaptics, which has gained market share as more and more mobile devices adopt the touch interface, also forecast current-quarter revenue that handily beat Wall Street estimates. The company, which counts Samsung Electronics Co Ltd among its top customers, also said it expects revenue to grow 37-40 percent in the year ending June 30, helped by strength in its fingerprint ID business. ...More

  • Microsoft earnings beat Street expectations

    FILE - In this April 2, 2014 file photo, Microsoft CEO Satya Nadella gestures during the keynote address of the Build Conference in San Francisco. Microsoft reports quarterly earnings on Thursday, April 24, 2014. (AP Photo/Eric Risberg, File)REDMOND, Wash. (AP) — Microsoft Corp. posted flat revenue and a decline in net income for the January-March quarter. Revenue gains from its Windows operating system and cloud computing services like Azure were offset by the lack of special upgrade offer revenues from a year ago.


  • Apple buoys Nasdaq; Ukraine weighs on broader market

    Traders work on the floor of the New York Stock ExchangeBy Chuck Mikolajczak NEW YORK (Reuters) - The Nasdaq rose modestly in a choppy session on Thursday, lifted by a rally in Apple shares a day after the iPad maker's strong results, though tensions in Ukraine held the broader market in check. Shares of Apple Inc , the most valuable U.S. company by market capitalization, jumped 8.2 percent to $567.77, the biggest gain since August, a day after the company posted revenue that far outpaced expectations. Apple also approved another $30 billion stock-buyback plan, raised its dividend and authorized a seven-for-one stock split. The three major U.S. stock indexes had opened sharply higher, with the Nasdaq initially climbing more than 1 percent before turning negative in the first half-hour of trading.


  • Aetna says early months of Obamacare better than feared
    Aetna Inc said on Thursday its first few months under Obamacare turned out better than some investors had feared as it added new members not only on the exchanges but in its traditional large corporate business. Aetna's shares surged nearly 6 percent as the company allayed Wall Street concerns that health costs were higher than what it and competitors had planned for. This year, Aetna introduced health plans in 17 of the new insurance exchanges created by President Barack Obama's healthcare law nationwide, making it the largest player by number of states, ahead of even WellPoint Inc. A rocky start to the exchanges, with technical failures and an advertising counteroffensive by Republican opponents of the Affordable Care Act, had raised fears of weak enrollment skewed toward older and sicker consumers.More

  • TSX gains on Potash, banks; gold miners slip

    Toronto Stock Exchange logo is seen in TorontoBy Alastair Sharp TORONTO (Reuters) - Canada's main stock index rose slightly on Thursday, helped by a gain in shares of Potash Corp after the company's results beat low expectations and by small increases in heavyweight banking stocks. The upward thrust was offset by declines in major gold miners and an 11.5 percent plunge in Colombia-focused oil company Pacific Rubiales Energy Corp . With the domestic stock market hitting highs last reached in mid-2008, stock pickers are taking a more nuanced view in building positions, resulting in long-maligned sectors such as energy producing winners and losers in almost equal measure. You're not seeing buying across the board," said Elvis Picardo, a strategist at Global Securities in Vancouver.