Monday 24 October 2011

Morning Market Briefing

RTT News: Global Financial Newswires

Morning Market Briefing

Monday, October 24, 2011, 09:01

Contents

Commentary

Stocks May Extend Recent Upward Move In Early Trading - U.S. Commentary

After moving sharply higher last Friday, stocks may see some further upside in early trading on Monday. The major index futures are currently pointing to a moderately higher open for the markets, with the Dow futures up by 46 points. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Economic News

Japan Posts JPY300.4 Bln Surplus In September

Japan had a merchandise trade surplus of 300.4 billion yen in September, the Ministry of Finance said on Monday - moving back into the green after stalling in the previous month, suggesting that the recovery from the devastating earthquake and tsunami on March 11 may be back on track. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Europe Considering EU Treaty Changes, Decision On EFSF Likely On Wednesday

European leaders said on Sunday that they are considering "limited" changes to the European Union Treaty, if needed, along with further strengthening of economic convergence within the euro area. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

China Manufacturing Sector Expands First Time In 4 Months

China's manufacturing sector expanded for the first time in four months in October, with the purchasing managers' index, or PMI, reaching its highest level in five months, flash survey results from Markit Economics showed Monday. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Economy Surviving Turbulence?

Domestic economic data released in recent weeks have firmly pointed at a less hostile economic environment, which have been improving in modest steps. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Recession Looms In Eurozone As Private Sector Shrinks For Second Month

Eurozone private sector economy contracted for a second month in October, signaling possibilities that the currency bloc might re-enter a recessionary phase towards the end of the year, results of a closely watched survey revealed Monday. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Eurozone Industrial Orders Rebound In August

Industrial new orders in the euro area increased in August after falling in the previous two months, driven mainly by a sharp pick up in demand for capital goods, data released by statistical office Eurostat showed Monday. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Earnings News

Kimberly-Clark Q3 Profit Falls; Revises 2011 EPS Outlook

Kimberly-Clark Corp. (KMB) Monday reported a drop in third-quarter profit primarily due to inflation in product costs. Adjusted earnings, however, went up year-over-year and were on par with analysts' estimates. The company also revised its 2011 earnings outlook. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Caterpillar Q3 Profit Climbs; Revises 2011 Outlook To Top of View

Caterpillar Inc. (CAT) announced Monday a jump in third-quarter profit corresponding to a 44 percent growth in machinery and power systems sales. Adjusted earnings exceeded Street expectations, but revenues, excluding acquisitions, fell short. The company also revised its 2011 financial outlook and now sees earnings and sales at the top of its prior guidance. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Eaton Q3 Profit Jumps; Tightens 2011 Earnings View

Eaton Corp. (ETN) Monday posted a rise in third-quarter profit thanks to "record" margins, and sales growth in end markets. The company also tightened its 2011 net earnings and operating earnings forecast. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Lorillard Q3 Profit Drops

Lorillard Inc. (LO) said Monday third-quarter profit declined year-over-year as higher settlement costs and user fees shrunk margins. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Corporate News

Cigna Inks $55/shr Cash Acquisition of HealthSpring

Cigna Corp. (CI) Monday jointly announced agreeing to acquire HealthSpring Inc. (HS) for a cash consideration of $55 per share in a transaction valued at approximately $3.8 billion. The deal is expected to complete in first-half 2012. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Plains All American Makes Public Offer to Buy SemGroup for $24/shr

Plains All American Pipelines LP (PAA) Monday revealed, via a publicized letter, its offer to acquire SemGroup Corp. (SEMG) for a cash consideration of $24 per share. The proposal, first made October 6, was earlier rejected by the SemGroup Board. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Oracle to Acquire RightNow Technologies for $43/shr

Oracle Corp. (ORCL) reported Monday an agreement that sees it acquire RightNow Technologies Inc. (RNOW) for $43 per share, or a total value of $1.5 billion, excluding RightNow Technologies's cash and debt. The transaction is anticipated to close late in 2011 or early in 2012. (Oct 24, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Broker Ratings Changes

Robert W. Baird Raises Duke Realty Corp. (DRE) To Outperform From Neutral With $14 Price Target

(Oct 24, 2011) ForwardFacebookTwitterLinkedIn

Todays WS Events

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

Caterpillar Inc. (CAT) will host a conference call at 11:00 AM ET on October 24, 2011, to discuss its Q3 11 earnings results. To access the live webcast, log on at www.caterpillar.com/Irwebcast To hear the live call, dial 877-216-8554 (US) or 973-528-0009 (International) with Entry Code 5621. For replay, dial 800-228-7717 (U.S. and Canada) or 858-244-2080 (International) (Oct 24, 2011) ForwardFacebookTwitterLinkedIn

CIGNA Investor Conference Call At 8:45 AM ET On HealthSpring Acquisition

Cigna Corporation (CI) will host a conference call at 8:45 AM ET on October 24, 2011, to discuss its Acquiring of HealthSpring, Inc. To access the live webcast, log on at www.cigna.com To participate in the call, dial (877) 419-6600 (US) or (719) 325-4759 (International) using Passcode: 3305644 To listen to the replay, dial (888) 203-1112 (US) or (719) 457-0820 (International) using passcode: 3305644 (Oct 24, 2011) ForwardFacebookTwitterLinkedIn

Eaton Q3 11 Earnings Conference Call At 10:00 AM ET

Eaton Corp. (ETN) will host a conference call at 10:00 AM ET on October 24, 2011, to discuss Q3 11 earnings results. To access the live webcast log on to www.eaton.com (Oct 24, 2011) ForwardFacebookTwitterLinkedIn

Kimberly-Clark Q3 11 Earnings Conference Call At 10:00 AM ET

Kimberly-Clark Corp. (KMB) will host a conference call at 10:00 AM ET on October 24, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.kimberly-clark.com (Oct 24, 2011) ForwardFacebookTwitterLinkedIn

Mattel Securities Analyst And Investor Conference Call At 11:00 AM ET

Mattel Inc. (MAT) will host a Securities Analyst and Investor conference call at 11:00 AM ET on October 24, 2011. To access the live webcast, log on at http://corporate.mattel.com To listen to the replay, dial (404) 537-3406 using passcode is 21259901. (Oct 24, 2011) ForwardFacebookTwitterLinkedIn

Netflix Q3 11 Earnings Conference Call At 6:00 PM ET

Netflix Inc. (NFLX) will host a conference call at 6:00 PM ET on October 24, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at http://ir.netflix.com A replay of the call can be heard by dialing (855) 859-2056 with ID 14534453. (Oct 24, 2011) ForwardFacebookTwitterLinkedIn

Texas Instruments Q3 11 Earnings Conference Call At 5:30 PM ET

Texas Instruments Inc. (TXN) will host a conference call at 5:30 PM ET on October 24, 2011 to discuss its Q3 11 earnings results. To access the audio webcast, log on at www.ti.com/ir (Oct 24, 2011) ForwardFacebookTwitterLinkedIn


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