Stock-pickers betting on an Indian economic rebound may be disappointed by upcoming earnings reports from domestically focused companies, as consumer demand and infrastructure output remain weak and high inflation persists.
The battle for emerging market growth is turning into a cutthroat competition between established multinational companies and a new generation of rivals.
India's No.3 software services provider Wipro posted an 18 percent gain in quarterly profit, joining bigger rivals Tata Consultancy Services and Infosys in reporting better-than-expected earnings.
Take a look at some of Friday's midday movers:
"I think it's going to be really tough to get through this earnings season without fits or starts. There's so much riding on this earnings season because of expectations for growth going into 2013," said one analyst.
Stocks kicked off the new year with a bang! But the party may be over once earnings season kicks into full gear.
Most investors don't realize that some of Wall Street's most-hated stocks could provide some much-needed love for your portfolio in 2013, according to TheStreet.com.
The Dow and S&P finished higher Wednesday, boosted by a batch of upbeat economic reports and optimistic comments from China's new leader, while Apple's sharp drop pushed the Nasdaq into negative territory.
Futures were off their best levels Wednesday, but optimistic comments from China's new leader helped limit losses.
Here are Wednesday's morning movers.
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BEELAHERI, India, Oct 25,- India is shaking up the way it gets billions of welfare dollars to the poor with a plan that could one day reshape the economy and tackle graft keeping millions in poverty, but in one small town a pilot of the new system is proving unpopular.
NEW YORK-- Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:. Wells Fargo& Co., down 93 cents at $34.25. STMicroelectronics NV, up 36 cents at $6.
NEW YORK, Oct 12- The New York- traded shares of Coca Cola Hellenic rose sharply on Friday, a day after the bottling company said it was leaving Greece, making the shares a standout in an otherwise flat market. The BNY Mellon index of leading American depositary receipts.
MUMBAI, Oct 12- Indian shares snapped a five-week streak of gains on Friday as bellwether Infosys Ltd. Worries that India would post high inflation data on Monday and erode prospects of interest rates cut from the central bank at the end of the month hit financial stocks such as ICICI Bank.
MUMBAI, Oct 12- Indian shares fell on Friday, posting its first weekly fall in six, as Infosys slumped after disappointing investors with its growth outlook, with caution also setting in ahead of key inflation data next week.
falls 0.66 percent while the 50- share NSE index is down 0.56 percent heading to their first weekly fall after five weeks of straight gains. drops 5.5 percent after disappointing investors with weaker-than-expected margins and took a conservative view on its full-year earnings.
Oct 12- Infosys Ltd shares recouped losses after India's second-largest software services exporter clarified that the revenue growth forecast for the current fiscal year that ends in March 2013 does not include revenue from Lodestone Holding AG. Infosys was down 3.9 percent at 0523 GMT, after having fallen as much as 8.8 percent earlier in the day.
The company also said revenue growth forecast for the current fiscal year that ends in March 2013 does not include the revenue from Lodestone Holding AG. India's benchmark 10- year bond yield. India's benchmark 5- year OIS up 3 bp at 7.00 percent, while the 1- year rate up 1 bp at 7.61 percent.