Morning Market Briefing

Morning Market Briefing Monday, October 3, 2011, 09:02 Contents Commentary Economic News Earnings News Corporate News Broker Ratings Changes Todays WS Events Commentary Stocks May Open Lower Amid Concerns About Greece - U.S. Commentary Stocks are likely to come under pressure in early trading on Monday, as traders express renewed concerns about the Greek debt crisis. The major index futures are currently pointing to a notably lower open, with the Dow futures down by 67 points. (Oct 3, 2011) Full Article Economic News BoJ Tankan: Large Manufacturers' Index Turns Positive The Bank of Japan's quarterly Tankan survey revealed on Monday that sentiment for its large manufacturers' index jumped in the third quarter of 2011, showing a score of +2. (Oct 3, 2011) Full Article China's Non-Manufacturing Activity Rises In September, Inflation Moderates China's non-manufacturing activity continued to rise in September, easing fears of a sharp slowdown in the country's economic growth, survey results from the China Federation of Logistics and Purchasing (CFLP) showed Monday. (Oct 3, 2011) Full Article Talks Between Troika, Greece Continue As Economy Remains In Recession The talks between the troika and the Greek authorities on next tranche of aid are continuing and are expected to conclude midweek even as the finance ministry said the country is set to remain in recession and will miss its budget goals this year and next. (Oct 3, 2011) Full Article Earnings News Wolverine Worldwide Q3 Rises; Hikes FY11 Financial Outlook Wolverine Worldwide Inc. (WWW) Monday reported a higher third-quarter profit as a result of expansion in margins and also strong global demand. The results exceeded Street expectations. The company also raised its full-year 2011 earnings and revenues outlook. (Oct 3, 2011) Full Article Corporate News AGCO Inks $940 mln Acquisition of GSI Holdings AGCO Corp. (AGCO) announced Monday its agreeing to acquire GSI Holdings Corp. from affiliates of private equity firm Centerbridge Partners LP for $940 million. The transaction may close by year-end 2011, and is expected to contribute to earnings immediately. (Oct 3, 2011) Full Article Broker Ratings Changes KeyBanc Capital Markets Cuts Gap Inc. (GPS) To Hold From Buy (Oct 3, 2011) KeyBanc Capital Markets Cuts New York & Company Inc. (NWY) To Hold From Buy (Oct 3, 2011) KeyBanc Capital Markets Downgrades Chico's FAS (CHS) To Hold From Buy (Oct 3, 2011) KeyBanc Capital Markets Ups Idacorp Inc. (IDA) To Buy From Hold With $41.50 Price Target (Oct 3, 2011) Robert W. Baird Downgrades KiOR Inc. (KIOR) To Underperform From Neutral With $13 Price Target (Oct 3, 2011) Todays WS Events AGCO Investor Conference Call At 9:00 AM ET On GSI Holdings Acquisition AGCO Corp. (AGCO) will host a conference call at 9:00 AM ET, October 3, 2011, to discuss the acquisition of GSI Holdings Corp. (GSI). To access the live webcast, log on at www.agcocorp.com To participate in the call, dial 866-613-7270 (US) or 706-679-2608 (International) using reference ID Code 14798028. (Oct 3, 2011) Wolverine World Wide Q3 11 Earnings Conference Call At 8:30 AM ET Wolverine World Wide (WWW) will host a conference call at 8:30 AM ET on October 3, 2011 to discuss its Q3 11 earnings results and current business trends. To access the live webcast, log on at www.wolverineworldwide.com (Oct 3, 2011) Home | Top Stories | Breaking News | Economic News | Forex | Politics | Featured Interviews Sent to autoforextradingpro@gmail.com | Customize your alerts | Unsubscribe Copyright © 2011 RTTNews. All rights reserved. By using this service, you agree to the Terms of Service