WEBODIGY Business & Finance Journal

Among the shares expected to see active trade in Wednesday’s session are those of Bed Bath & Beyond Inc., Family Dollar Stores Inc. and Monsanto Co.

Bed Bath & Beyond (BBBY 38.69, +0.02, +0.05%) is expected to report third-quarter
earnings of 44 cents a share, according to a consensus survey by FactSet Research.

Family Dollar (FDO 27.70, +0.21, +0.76%) is projected to post earnings of 47 cents a
share in the first quarter, according to a survey by Thomson Reuters.

Monsanto (MON 85.20, -0.07, -0.08%) is forecast to break even in the first quarter,
according to FactSet Research.

Worthington Industries Inc. (WOR 13.87, -0.01, -0.07%) is likely to post earnings of 7 cents
a share in the second quarter, according to a FactSet survey.

After Tuesday’s closing bell, Beazer Homes USA Inc. (BZH 5.00, -0.42, -7.75%) said it will
launch a secondary offering of stock and notes. The home builder said it will issue 18 million shares of common stock and $50 million in convertible notes. Underwriters will get 15% more shares and notes to cover overallotments. Separately, Beazaer said that new home orders rose 36.6% to 728 and closings increased 8% to 961 homes for the quarter ended Dec. 31.

Mosaic Co. (MOS 62.90, -0.25, -0.40%) said its fiscal second-quarter profit fell to $107.8
million, or 24 cents a share, from $959.8 million, or $2.15 a share, in the year-ago period. Revenue fell to $1.71 billion from $3.01 billion last year. Analysts surveyed by FactSet Research estimated a quarterly profit of 39 cents a share on revenue of $1.67 billion.

Global stock markets began the New Year on a positive note as investors counted on a strong recovery from the worst economic slump since the 1930s to extend substantial gains made in 2009, dealers said.

They said strong Chinese manufacturing data showing the world’s third largest economy clearly on the mend bolstered hopes that the worst of the downturn is well and truly over, with the despair and uncertainty of 12 months ago fading into memory.

A similarly positive US manufacturing sector report later in the day gave Wall Street a solid early boost, reinforcing the more positive outlook.

Financial markets appeared on the brink of collapse in late 2008 with the failure of US investment banking giant Lehman Brothers but sentiment turned in March last year as the first “green shoots” of recovery were seen after huge state stimulus programmes.

Dealers said the big question now is whether the momentum can be sustained as governments wind down their costly rescue programmes.

In New York, the Dow Jones Industrial Average of leading shares was up 1.57 percent at around 1700 GMT, with the tech-heavy Nasdaq composite gaining 1.78 percent.

“There is a bullish bias that is often associated with the start of a new year as new money gets put to work, riding the wave of typically upbeat forecasts,” said Patrick O’Hare at Briefing.com.

In Europe, Paris was the main feature, topping very strong resistance at 4,000 points as investors pushed the CAC 40 up 1.97 percent to 4,013.97 points, its best finish since October 2008.

“Everybody was expecting it and finally it happened,” said Xavier de Villepion of Global Equities, adding that investors will be closely looking at upcoming US data to confirm they are on the right track.

London’s FTSE 100 index of leading shares rose 1.62 percent to 5,500.34 points while in Frankfurt the DAX added 1,53 percent to 6,048.30 points.

Dealers said that apart from the data, European stocks got an additional boost from news that Swiss pharmaceutical giant Novartis was to spend nearly 40 billion dollars to take over the world’s biggest eye-care firm Alcon from Nestle.

James Hughes, Market Analyst at CMC Markets, said that after a positive opening, the US manufacturing data gave investors another boost.

“Shares managed to add to this morning’s gains … after a strong start on Wall Street. The (US) ISM manufacturing numbers seemed to be a catalyst, as was a surge in the oil price,” Hughes said.

The US manufacturing sector in December expanded at its fastest pace since April 2006 as factories ramped up production to make up for a massive drawdown in inventories, the Institute for Supply Management said.

The ISM purchasing managers index climbed to 55.9 percent in December from 53.6 percent in November, well above analyst forecasts for a rise to 54.3 percent. Any number above 50 percent indicates growth.

“Overall, the December survey points toward sturdy growth in manufacturing industrial production,” said Ryan Sweet at Moody’s Economy.com.

Elsewhere in Europe, Amsterdam gained 2.30 percent, Brussels was up 2.08 percent, Madrid rose 1.72 percent and Swiss stocks put on 1.31 percent.

London and Paris each gained more than 22 percent in 2009, with Frankfurt up nearly 24 percent.

In Asia early Monday, Tokyo struck 15-month high, buoyed by government plans to expand a credit line to troubled Japan Airlines, with the benchmark Nikkei-225 index jumping 1.03 percent to 10,654.79 points — the best finish since early October 2008.

The stock market closed higher in a half-day session on Thursday, the final trading session of 2009, to chalk up an impressive annual gain of more than 22 percent.

London’s FTSE 100 index of leading shares rose 0.28 percent to finish at 5,412.88 points at 1230 GMT, as traders headed home early for the New Year holiday weekend. The market remains shut on Friday and reopens on Monday.

The FTSE has gained 22.07 percent in value during 2009, despite a record recession, as investors drew strength from hopes of economic recovery in the fourth quarter or three months to December.

NEW YORK (CNNMoney.com) — Wall Street surged Monday, starting off the new year on a positive note, after a report showed manufacturing activity is picking up and the weak dollar propelled commodity prices and stocks.

The Dow Jones industrial average (INDU) rallied 156 points, or 1.5%. The S&P 500 index (SPX) rose 18 points, or 1.6%. The Nasdaq composite (COMP) gained 39 points, or 1.7%. All three major gauges closed at 15-month highs.

“The fact that stocks are up so much today is an encouraging sign, but we need to see a few days of follow through,” said Will Hepburn, chief investment officer at Hepburn Capital Management.

He said the first few trading sessions of a new year are typically positive and that he wants to see several more days of gains on strong trading volume before he’s willing to say that the rally has recharged.

Stocks fell Thursday in a thinly traded session on the last day of 2009. All financial markets were closed Friday in observance of New Year’s Day.

The last month of 2009 saw stocks churning in a narrow range, managing modest gains, but not really charging ahead like in earlier months.

The market lost some momentum in November and December, Hepburn said. That slowdown coincided with the dollar beginning to firm up and investors opting to close the books early after a difficult year.

A tumultuous 2009 ended with substantial gains. The S&P 500 gained 23.4%, the Dow industrials gained 18.8% and the Nasdaq composite gained 44%.

Stocks are up even more substantially since bottoming in March at the height of the financial market crisis. After closing at a 12-year low on March 9, the Dow gained 59% and the S&P 500 gained 65% through year end. After closing at a 6-year low on the same date, the Nasdaq gained 79%.

Tuesday brings reports on factory orders, pending home sales and auto and truck sales.

Economy: The Institute for Supply Management’s manufacturing index rose to 55.9 in December from 53.6 in November, signifying a wider expansion in the sector. Economists surveyed by Briefing.com thought it would rise to 54.3. Stronger reports were also released in Asia, adding to bets that the global manufacturing sector is recovering.

A separate report from the U.S. government showed that construction spending fell 0.6% in November versus forecasts for a drop of 0.5%. Spending fell 0.5% in October.

On the move: Gains were broad based, with 27 of 30 Dow issues rallying, led by Chevron (CVX, Fortune 500), Exxon Mobil (XOM, Fortune 500), Boeing (BA, Fortune 500), United Technologies (UTX, Fortune 500), IBM (IBM, Fortune 500), Hewlett-Packard (HPQ, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Wal-Mart Stores (WMT, Fortune 500).

In other news, Swiss drugmaker Novartis AG plans to take control of Alcon (ACL) by paying $38.5 billion to buy the 77% of the eye care products maker it doesn’t already own. The deal involved Novartis buying out Nestle SA’s 52% stake in Alcon for $28 billion in cash and then merging with Alcon to access the remaining 23% held by minority shareholders.

Alcon shares fell nearly 6%.

Bernanke defends Fed policy: The Federal Reserve chairman said Sunday that the central bank’s decision to keep interest rates very low between 2002 and 2006 was appropriate and not the cause of the housing market bubble.

He said regulation would have been a better way to avert the collapse that ensued when home prices crumbled, leading to massive foreclosures, billions in losses for banks and the worst financial crisis since the Great Depression.

The Senate is currently considering Bernanke’s nomination by President Obama for another term as Fed chairman. The Senate Banking Committee already gave its approval last month. His current term ends on Jan. 31.

World markets: Asian markets gained, with the exception of the Hong Kong Hang Seng. In Europe, London’s FTSE 100 rose 1.6%, France’s CAC 40 added 2% and the German DAX rallied 1.5%.

Commodities and the dollar: The dollar tumbled versus other major currencies.

The weaker dollar gave a lift to dollar-traded commodities.

COMEX gold for February delivery settled up $22.10 to $1,118.30 an ounce. Gold closed at an all-time high of $1,218.30 an ounce earlier this month.

U.S. light crude oil for February delivery gained $2.15 to settle at $81.51 a barrel on the New York Mercantile Exchange, the highest close since October 2008.

Bonds: Treasury prices rose, lowering the yield on the 10-year note to 3.81% from 3.84% late Thursday. Treasury prices and yields move in opposite directions.

Market breadth was positive. On the New York Stock Exchange, winners beat losers four to one on volume of 1.02 billion shares. On the Nasdaq, advancers topped decliners by over three to one on volume of 1.92 billion shares.

Singapore’s Straits Times Index terkerek 0.8% to 2759.13 at 10:27 am local time. A total of four stocks rose on the index member 30 for every one who is weakening.

Shares in the index traded at 14.8 times estimated earnings, compared with about 10 times in early 2009, said data collected by Bloomberg.

Boustead Singapore Ltd. (BOCS SP), engineering company, rose 2.5% to 81 cents Singapore, Frasers Commercial Trust (FCOT SP) rose 3.3% to 15.5 Singapore cents.

Keppel Corp. (KEP SP) rose 1.3% to S $ 8.65. The company said the unit Keppel Fels Ltd. him with J. Ray McDermott wins contract worth U.S. $ 1 billion for the construction of rigs for oil exploration venture company Petroleo Brasileiro SA and Chevron Corp..

Tiger Airways Holdings Ltd (TGR SP) climbed 2.1% to be S $ 1.48. The company said third-quarter passenger volumes rose 54% compared to last year, so the average load factor up to 88% from 83% a year earlier