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Stock Market News - Prices Stumble in Asia after European Elections

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(Best Syndication News) Stock markets are lower in Asia early Monday after a disappointing day on Wall Street Friday (see stock charts below). Traders are worried about the uncertainty surrounding Sunday’s elections.

The conservative New Democracy (ND) and socialist PASOK parties may have lost their controlling majority of Parliament in Greece and the incumbent conservative President Nicolas Sarkozy lost to Francois Hollande in France. Both elections brought about some uncertainty for the bailout packages promised to Greece.

Stock Market News – Western Digital (WDC) Republic Services (RSG) Expedia (EXPE) and Amazon (AMZN) Report

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(Best Syndication News) Markets in Japan and Mainland China were closed Monday, however the Hang Seng (Hong Kong) stock exchange was open and trending higher (see the stock chars below).

Last week the Dow Jones Industrial Average (DJIA) closed up more than 1.5 percent, mostly because of positive earnings reports. The sovereign debt issues continued to fester in Spain and some economic indicators were less than expected.

Home prices were lower, according to Standard and Poor’s, and the Gross Domestic Product (GDP) grew only 2.2 percent in the first quarter, according to data released by the U.S. Department of Commerce. Investors continued to buy equities despite the negative news.

Netflix Shares drop After Hours

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(Best Syndication News) - Netflix (NASDAQ:NFLX) shares dropped 16.53 percent to $85.10 (-$16.83) during afterhours trading. The drop occurred after the company released their Q1 earnings report earlier today. By the end of Monday's session, the shares were trading at $101.84, down $4.27 (-4.02%).

The earnings report showed that Netflix had global revenue of $870 million in Q1 2012. This was down $6 million from the Q4 2011. The earnings per share for Q1 2012 was $0.08 per share, which is much lower than the peak of $1.26 per share in Q2 2011. Year-on-year revenue has improved 21 percent. There was a net income loss of $5.0 million, which was much better than Netflix expected.

Stock Market News – SanDisk Corp (SNDK) Altera Corp (ALTR) Expeditors (EXPD) and Intuit (INTU) Among Laggards

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(Best Syndication News) Stocks are opening lower in Asia early Monday after closing slightly higher last week (see stock charts below). There is little good news in Asia: the Australian Producer Price Index (PPI) declined last quarter and the HSBC Manufacturing PMI for China climbed to just 49.1 in April.

The dollar (USD) was lower against all major currencies on Friday; however on the week the greenback eked-out a 0.94 percent gain vs the Japanese yen (JPY). The euro (EUR) has been hit hard by the political and economic uncertainty surrounding Spanish sovereign debt (see the average forex chart below).

Stock Market Today – Mattel Inc. (MAT) Gannett Co (GCI) and Baxter International (BAX) Report

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(Best Syndication News) Stock markets in Europe are opening higher after dropping early Tuesday in Asia (see stock charts below). Markets were mixed in the United States as tech stocks took a hit when shares in Apple Inc. (NASDAQ:AAPL) began to plummet after a sharp run-up this month.

The Shanghai (China) composite index fell 0.97 percent Tuesday while the Nikkei 225 (Japan) and Hang Seng (Hong Kong) fell 0.06 percent and 0.23 percent respectively. Slow growth concerns in China and Spanish sovereign debt worries weighed heavily in Asia.

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