World Stock-Markets Round-up
November 24, 2009 9:24 AM
U.S. Stock index futures are likely to open on a downward note. Hewlett-Packard Co. (NYSE: HPQ) announced that it has tripled the size of its share repurchase program. Increased China sales and better profit margins are the main reasons behind the move.
Microchip maker Analog Devices Inc (NYSE: ADI) on Monday reported higher than expected quarterly sales and forecast higher profit margins. Japan Airlines Corp.(NYSE: JALSF) hit a record low due to rumors of its impending bankruptcy. Oil slipped to $77 per barrel and also recorded thin demand due to the holiday season. However, Dollar moved higher due to greater demand.
European stocks were down 0.7 in morning trade, led lower by banks. Hong Kong and China stocks sank on Tuesday, with Shanghai's SSE composite index dropping by 3.5 percent, pushed down by banks as investors took profit after a recent rally. H.J. Heinz Co. (NYSE: HNZ) and Hormel Foods Corp. (NYSE: HRL) are expected to release their earnings reports today.
