Morning Market Briefing

Morning Market Briefing Thursday, October 6, 2011, 09:04 Contents Commentary Economic News Earnings News Corporate News Broker Ratings Changes Todays WS Events Commentary Stocks May See Further Upside In Early Trading - U.S. Commentary With traders expressing continued optimism about the financial situation in Europe, stocks may extend their recent upward move in early trading on Thursday. The major index futures are currently pointing to a moderately higher open, with the Dow futures up by 47 points. (Oct 6, 2011) Full Article Economic News BoE Expands QE; Holds Key Rates The Bank of England on Thursday decided to raise the size of quantitative easing by GBP 75 billion amid the economy undergoing a fragile recovery. (Oct 6, 2011) Full Article European Central Bank Leaves Rates Unchanged As Trichet Exits The European Central Bank left its key interest rates unchanged for a third consecutive month on Thursday in line with economists' expectations. In a meeting held in Berlin, which was the final rate-setting session chaired by ECB chief Jean-Claude Trichet, the Governing Council decided to hold the main refi rate at 1.50 percent. In July, the central bank had hiked the rate for a second time this year. (Oct 6, 2011) Full Article BoE Lifts QE By GBP 75 Bln; Rates On Hold The Bank of England on Thursday unexpectedly expanded its quantitative easing program by GBP 75 billion to stimulate the ailing U.K. economy amid concerns about debt contagion and severe strains in bank funding. (Oct 6, 2011) Full Article U.S. Weekly Jobless Claims Increase Less Than Expected New unemployment claims in the U.S. ticked up slightly in the week ended October 1st, according to figures released Thursday by the Labor Department, although claims rose by less than anticipated. (Oct 6, 2011) Full Article European Central Bank Holds Rates As Trichet Bids Adieu European Central Bank President Jean-Claude Trichet did not spring any surprises in his final rate-setting session as the region's interest rates were left unchanged despite concerns that an escalating sovereign debt crisis has significantly hurt the economic outlook. (Oct 6, 2011) Full Article Earnings News Marriott International Sinks to Q3 Loss Marriott International Inc. (MAR) Wednesday reported a third-quarter loss on the back of hefty impairment charges relating to the timeshare segment. Both adjusted earnings and revenues topped the market view. The company also issued its fourth-quarter earnings guidance. (Oct 6, 2011) Full Article Express Scripts Trims 2011 Adj. EPS Outlook Express Scripts Inc. (ESRX) Thursday said it has lowered its 2011 adjusted earnings guidance on the expectation that claims volumes would be worse affected by "stagnant" economic conditions than previously anticipated. (Oct 6, 2011) Full Article Constellation Brands Q2 Profit Surges; Raises FY12 EPS Outlook Constellation Brands Inc. (STZ, STZ-B) posted Thursday a sharp rise in second-quarter profit as the decline in product and operating costs more than compensated for the drop in revenues. Adjusted earnings and revenues exceeded Street expectations. The company also lifted its fiscal 2012 earnings forecast. (Oct 6, 2011) Full Article Corporate News Reed Elsevier CFO Mark Armour To Retire At End of 2012 Reed Elsevier plc (REL.L, ENL, RUK) announced Thursday the decision by chief financial officer Mark Armour to retire from the Boards of Reed Elsevier at year-end 2012. Armour was first appointed CFO in 1996. An executive search firm has been appointed to select his successor. (Oct 6, 2011) Full Article Broker Ratings Changes KeyBanc Capital Markets Lifts BEACON ROOFING SUPPLY (BECN) To Buy From Hold With $21 Price Target (Oct 6, 2011) KeyBanc Capital Markets Upgrades Acuity Brands Inc (AYI) To Buy From Hold With $50 Price Target (Oct 6, 2011) Todays WS Events Marriott International Q3 11 Earnings Conference Call At 10:00 AM ET Marriott International Inc. (MAR) will host a conference call at 10:00 AM ET on October 6, 2011, to discuss its Q3 11 earnings results. To access the live webcast, log on at www.marriott.com/investor To hear the live call, dial 706-679-3455 with ID 89671624. A replay of the call can be heard by dialing 404-537-3406 with ID 89671624 (Oct 6, 2011) Oracle Financial Analyst Meeting At 1:30 PM ET Oracle Corp. (ORCL) will host its Financial Analyst Meeting at Oracle® OpenWorld San Francisco. The event is scheduled to begin at 1:30 PM ET, October 6, 2011. To access the webcast, log on at www.oracle.com/investor (Oct 6, 2011) Pepsico To Present At RetailInvestorConferences.com; Webcast At 3:00 PM ET Pepsico Inc . (PEP) will present at the RetailInvestorConferences.com. The event is scheduled to begin at 3:00 PM ET on October 6, 2011. To access the live webcast, log on at www.retailinvestorconferences.com (Oct 6, 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