Thursday, 20 October 2011

Morning Market Briefing

RTT News: Global Financial Newswires

Morning Market Briefing

Thursday, October 20, 2011, 09:01

Contents

Commentary

Stocks May Move Back To The Upside In Early Trading - U.S. Commentary

After coming under pressure over the course of the previous session, stocks may move back to the upside in early trading on Thursday. The major index futures are currently pointing to a moderately higher open, with the Dow futures up by 46 points. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Economic News

Eurozone Leaders Split On Bailout Fund Ahead Of Crucial Summit

Eurozone leaders have failed to reach an agreement on how to rescue the region from sliding into a recession as they remain divided over leveraging its rescue fund, the European Financial Stability Facility, ahead of the summit on Sunday. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

UK September Retail Sales Stronger Than Expected

Retail sales in the U.K. was stronger than expected in September, but economists sounded less optimistic if the coming months will see a similar upturn as global economic jitters and tight fiscal policy at home continue to weigh on consumer spending. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

U.S. Weekly Jobless Claims Dip To 403,000

New U.S. unemployment insurance claims showed a modest decrease in the week ended October 15th, although revisions to the previous week's data kept the number of new claims above the key 400,000 level. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Earnings News

American Express Q3 Profit Edges Up

American Express Co. (AXP) posted Wednesday a higher third-quarter profit thanks to improved credit quality and also a rise in cardmember spending. The results exceeded Street expectations. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

eBay Q3 Profit Rises; Lifts 2011 EPS View

eBay Inc. (EBAY) announced Wednesday a rise in third-quarter profit as a result of "strong" top-line growth across its segments. Adjusted earnings were on par with analysts' estimates, but revenues topped. The company also issued its fourth-quarter guidance, with an earnings estimate missing or match analysts' consensus. Further, it raised its full-year earnings outlook and tightened its revenues forecast. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Xilinx Q2 Profit Drops

Xilinx Inc. (XLNX) Wednesday posted a lower second-quarter profit on the impact of "weaker than expected" business conditions. Earnings, however, topped the Street view, while revenues fell short. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Wynn Resorts Swings to Q3 Profit

Wynn Resorts Ltd. (WYNN) Wednesday reported a third-quarter profit, the turnaround from the last year's loss made possible by a absence of debt-extinguishment charges and a jump in revenues from the Wynn Macau resort. Adjusted earnings however missed the Street view, while revenues topped. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Stryker Q3 Profit Slumps; Ups 2011 Adj. EPS View

Stryker Corp. (SYK) said Wednesday third-quarter profit dipped from the prior year with higher expenses offsetting the revenue growth. Adjusted earnings surpassed market expectations, but revenues were on par with the Street view. The company also lifted its full-year adjusted earnings outlook. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Western Digital Q1 Profit Climbs

Western Digital Corp. (WDC) Wednesday said first-quarter profit increased year-over-year thanks to wider margins and higher shipments. The results beat the market view. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Ericsson Q3 Profit Up

LM Ericsson Telephone Co. (ERIC) Thursday announced a 6 percent rise in third-quarter profit reflecting "strong" mobile broadband demand and higher service revenues. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Lilly Q3 Profit Dips; Tightens 2011 EPS, Adj. EPS View

Eli Lilly & Co. (LLY) posted Thursday a drop in third-quarter profit due to higher expense on marketing efforts. Adjusted earnings were on par with Street expectations but revenues beat. The company also tightened its full year earnings and adjusted earnings guidance. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Encana Q3 Profit Plummets

Encana Corp. (ECA, ECA.TO) Thursday reported a sharp decline in third-quarter profit, hurt by the impact of a large foreign exchange loss, compared to a prior year foreign exchange gain. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

AT&T Q3 Profit Nosedives

AT&T Inc. (T) Thursday said third-quarter profit plummeted year-over-year reflecting a hefty income-tax benefit in the prior-year. Adjusted earnings, however, increased from last year and were on par with market estimates, while revenues dipped and missed the Street view. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Philip Morris International Q3 Profit Jumps; Narrows 2011 EPS Outlook

Philip Morris International Inc. (PM) Thursday announced a jump in third-quarter profit thanks to higher sales in Japan. The results beat analysts' estimates. The company also narrowed its 2011 earnings guidance. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Southwest Airlines Sinks to Q3 Loss

Southwest Airlines Co. (LUV) posted Thursday a third-quarter loss, reversing from the prior-year profit on a steep rise in one-time charges and also higher economic fuel costs. Both adjusted earnings and revenues topped the market view. (Oct 20, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Broker Ratings Changes

FBR Capital Markets Cuts Core Laboratories NV (CLB) To Market Perform From Outperform With $115 Price Target

(Oct 20, 2011) ForwardFacebookTwitterLinkedIn

RBC Capital Markets Raises Wesco Aircraft Holdings, Inc (WAIR) To Outperform From Sector Perform With $13 Price Target

(Oct 20, 2011) ForwardFacebookTwitterLinkedIn

Todays WS Events

AT&T Q3 11 Earnings Conference Call At 10:00 AM ET

AT&T Inc. (T) will host a conference call at 10:00 AM ET on October 20, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.att.com/gen/landing-pages?pid=5718 (Oct 20, 2011) ForwardFacebookTwitterLinkedIn

AutoNation Q3 11 Earnings Conference Call At 11:00 AM ET

AutoNation, Inc. (DRI) will host a conference call at 11:00 AM ET on October 20, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at investors.autonation.com To hear the live call, dial 888-769-8515 with password AutoNation. A replay of the call can be heard by dialing 866-463-2174 with password 75300. (Oct 20, 2011) ForwardFacebookTwitterLinkedIn

Boston Scientific Q3 11 Earnings Conference Call At 8:00 AM ET

Boston Scientific Corp. (BSX) will host a conference call at 8:00 AM ET on October 20, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.bostonscientific.com/investors (Oct 20, 2011) ForwardFacebookTwitterLinkedIn

Capital One Financial Q3 11 Earnings Conference Call At 5:00 PM ET

Capital One Financial Corp. (COF) will host a conference call at 5:00 PM ET on October 20, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.capitalone.com (Oct 20, 2011) ForwardFacebookTwitterLinkedIn

Eli Lilly And Q3 11 Earnings Conference Call At 9:00 AM ET

Eli Lilly and Company (LLY) will host a conference call at 9:00 AM ET on October 20, 2011, to discuss Q3 11 earnings results. To access the live webcast, log on to www.lilly.com (Oct 20, 2011) ForwardFacebookTwitterLinkedIn

McGraw-Hill Q3 11 Earnings Conference Call At 8:30 AM ET

The McGraw-Hill Companies (MHP) will host a conference call at 8:30 AM ET on October 20, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at http://investor.mcgraw-hill.com/phoenix.zhtml?p=irol-eventDetails&c=96562&eventID=4214014 To hear the live call, dial (888) 391-6568 (US) or +1 (415) 228-4733 (International). A replay of the call can be heard by dialing (800) 933-9003 (US) or +1 (402) 530-8096 (International). (Oct 20, 2011) ForwardFacebookTwitterLinkedIn

Microsoft Q1 12 Earnings Conference Call At 5:30 PM ET

Microsoft Corporation (MSFT) will host a conference call at 5:30 PM ET on October 20, 2011, to discuss Q1 12 earnings results. To access the live webcast, log on to www.microsoft.com/investor (Oct 20, 2011) ForwardFacebookTwitterLinkedIn

New York Times Q3 11 Earnings Conference Call At 11:00 AM ET

The New York Times Co., (NYT) will host a conference call at 11:00 AM ET on October 20, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.nytco.com/investors To hear the live call, dial 888-312-9837 (US) or 719-457-2619 (International). A replay of the call can be heard by dialing 888-203-1112 (US) or 719-457-0820 (International) with access code 4360821. (Oct 20, 2011) ForwardFacebookTwitterLinkedIn


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