ECONOMY & MARKETS

European shares climbed sharply and Wall Street was set to join in on Tuesday as positive corporate earnings allowed stock investors to look beyond the euro zone debt crisis.

Altera Corp.'s (NASDAQ: ALTR) management upped its long-term business model at its Nov. 7 analyst day to operating margins of 38 percent from 32 percent set previously in 2007.

The rapid economic development that China seems to be enjoying extends into investments in the production of red wine, particularly as a means to attain long-term profits.

Adobe Systems Inc. (NASDAQ: ADBE) will host its annual financial analyst meeting in New York at 10:00 AM Eastern time on Nov. 9.

India's October exports rose an annual 10.8 percent to $19.9 billion, while imports for the month rose 21.7 percent to $39.5 billion.

Toyota, Bank of America, Priceline, DryShips, Rockwell Automation and Activision Blizzard are among the stocks that may see active trading on Nov.8.

Italian bond yields ticked higher on Tuesday, closing in on unsustainable levels as lawmakers in Rome readied for a crucial vote on public finances that marks the latest chapter in the euro zone debt crisis.

Gold prices hovered above $1,790 on Tuesday, after soaring more than 2 percent in the previous session, supported by safe haven demand as Italy took center stage in the euro zone debt crisis.

The top after-market NASDAQ stock market gainers are: Solazyme, DealerTrack Holdings, Amedisys, Central European Distribution, and Kopin. The top after-market NASDAQ stock market losers are: Legacy Reserves, Urban Outfitters, Limelight Networks, Array BioPharma, and Savient Pharmaceuticals.

Asian shares wiped earlier gains and fell anew Tuesday, weighed by concerns that surging bond yields could stifle debt-ridden Italy's fund-raising ability and throw the euro zone deeper into financial turmoil, while Greece struggled to pick a new leader.

Asian shares rose Tuesday, but gains were capped by concerns that surging bond yields could stifle debt-ridden Italy's fund-raising ability and throw the euro zone deeper into financial turmoil, while Greece struggled to pick a new leader.

Americans borrowed more in September to purchase cars and cover college expenses. Consumer credit expended $7.4 billion in September, a 3.6 percent increase at an annualized rate, and a health turnaround from a revised $9.68 billion unexpected drop in August, according to a Federal Reserve report on Monday.

The nation's drivers got a brief reprieve at the pump this month, but a tank of gas promises to be costly again with Thanksgiving weekend on its way. Gas prices have fallen 5 cents a gallon overall in the last three weeks, to an average of $3.43

South African stocks surged more than 2 percent on Monday, buoyed by a last-minute short covering on mixed news out of Europe, while gold miners such as Harmony Gold were lifted by stronger bullion.

Sysco Corporation (NYSE:SYY) reported quarterly earnings per share of 55 cents Monday, topping analyst consensus estimates of 52 cents per share. Revenues for the food service logistics company were markedly higher, $10.59 billion versus analyst estimates of $10.49 billion. Net earnings were $302.65 million, an increase of $3.58 million, or 1.2%, when compared to quarterly earnings from a year ago.

Retailer Best Buy Inc. said it would buy Carphone Warehouse's stake in their U.S. mobile-phone joint venture for about $1.3 billion and plans to close 11 big box stores in the UK as part of its reorganization strategy.

The top pre-market NASDAQ Stock Market gainers are: American Dental Partners, NPS Pharmaceuticals, Tekelec, Pharmasset, and DragonWave. The top pre-market NASDAQ Stock Market losers are: OmniVision Technologies, Vertex Pharmaceuticals, ARM Holdings, Logitech International, and Siliconware Precision Industries.

DragonWave Inc. (NASDAQ: DRWI) announced its plans in acquiring the microwave transport business from Nokia Siemens Networks (NSN) in a cash and stock transaction valued at about $154 million.

Stock index futures pointed to a sharply lower open for equities on Wall Street on Monday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 1.2 to 1.3 percent.

Boeing, Chicago-based aerospace and defense corporation, has submitted a proposal to the U.S. Army for a multi-year contract for the production and delivery of 155 CH-47F helicopters.

Asian shares struggled and credit markets weakened Monday, with investors still nervous despite the agreement on formation of a new Greek unity government intent on avoiding imminent debt default.

Gold prices gained nearly 1 percent on Monday after Greece's politicians sealed a deal to form a coalition government, while continued uncertainty about resolving the zone's debt crisis supported safe-haven demand in bullion.

The European Union turned up the heat on bickering Greek politicians Sunday to agree on a crisis coalition, demanding progress toward backing an international bailout deal in the next 24 hours.

Greece's ruling socialists and opposition conservatives offered rival plans for saving the nation from bankruptcy and safeguarding its Eurozone membership, ignoring an appeal from the president to cooperate now on tackling the mess.

China is confident that Europe will be able to overcome its debt crisis, Foreign Minister Yang Jiechi said, adding stability in the Eurozone was crucial for the global economic recovery.

Economists Siddhartha Sanyal and Rahul Bajoria of Barclays Capital forecast India’s economic growth will be 7-8 percent per year during the next three to five years.

The European Central Bank frequently discusses the possibility ending the purchase of Italian government bonds in case it concludes Italy is not adopting promised reforms, said Yves Mersch, an ECB governing council member.

t the closing of the deal, Anglo-American will have an 85 percent in stake in De Beers, the largest diamond distributor in the world.