Morning Market Briefing

Morning Market Briefing Monday, October 31, 2011, 09:01 Contents Commentary Economic News Earnings News Broker Ratings Changes Todays WS Events Commentary Profit Taking May Contribute To Early Weakness On Wall Street - U.S. Commentary After trending higher in recent weeks, stocks are likely to give back some ground in early trading on Monday. The major index futures are currently pointing to a notably lower open for the markets, with the Dow futures down by 124 points. (Oct 31, 2011) Full Article Economic News South Korea Industrial Output +6.8% In September Industrial production in South Korea jumped 6.8 percent on year in September, Statistics Korea said on Monday, rising for the 27th straight month. (Oct 31, 2011) Full Article Japan Intervenes In Currency Market To Weaken Yen The Japan government on Monday intervened in the foreign exchange market to weaken the yen, after the currency climbed to post-World War II high against dollar, threatening the country's recovery and exports. (Oct 31, 2011) Full Article Economic Hopes Reviving? After a long wait and protracted discussions, European leaders delivered at last, bringing cheer to the equity markets and also catalyzing massive buying of risky assets. (Oct 31, 2011) Full Article German Retail Sales Expand In September Reflecting an improvement in the labor market conditions, German retail sales expanded in September, but the pace of growth missed economists' expectations. (Oct 31, 2011) Full Article Eurozone Inflation Stable At 3%; Unemployment Rises Eurozone annual inflation remained stable at a three-year high in October, while the unemployment rate rose further, adding to the dilemma of central bank's act of maintaining price stability and supporting balanced economic growth. (Oct 31, 2011) Full Article Earnings News Wipro Q2 Profit Up India-based Wipro Ltd. (WIT) Monday posted a higher second-quarter profit thanks primarily to a rise in IT Services revenues. Both adjusted earnings and revenues missed the Street view. (Oct 31, 2011) Full Article Honda Q2 Profit Plummets Honda Motor Co. Ltd. (HMC) said Monday second-quarter profit fell year-over-year due to the impact of the Great East Japan Earthquake and unfavorable currency translation. The company also modified its fiscal year outlook to "not determined". (Oct 31, 2011) Full Article Panasonic Sinks to Q2 Loss; Forecasts Loss in FY12 Panasonic Corp. (PC) Monday reported a second-quarter loss as a result of lower prices, decline in sales and the strengthening of the yen. The company also downgraded its fiscal 2012 outlook and now sees a loss on the impact of hefty restructuring charges. (Oct 31, 2011) Full Article Barclays Q3 Profit Zooms Barclays plc (BCS, BARC.L) announced Monday a surge in third-quarter profit primarily reflecting a large own credit this year and an own credit loss a year ago. The UK-based group also reported a 31 percent reduction in its exposure to European sovereign debt from the PIIGS nations. (Oct 31, 2011) Full Article Loews Corp. Q3 Profit Surges Loews Corp. (L) Monday said third-quarter profit went up sharply compared to the prior year when results were impacted by a hefty one-time charge. (Oct 31, 2011) Full Article Humana Q3 Profit Climbs; Ups 2011 EPS Outlook Humana Inc. (HUM) reported Monday a rise in third-quarter profit on the back of revenue growth in the Retail and Health and Well-Being Services segments. The company also raised its 2011 earnings outlook and initiated its fiscal 2012 earnings forecast. (Oct 31, 2011) Full Article HCP Q3 FFO More than Doubles; Trims 2011 FFO View HCP Inc. (HCP) Monday announced sharply higher third-quarter funds from operations, or FFO, reflecting a steep rise in income from direct financing leases. The company also slashed its full-year FFO outlook, but raised its adjusted FFO guidance. (Oct 31, 2011) Full Article Broker Ratings Changes Robert W. Baird Cuts Salient MLP & Energy (SMF) To Neutral From Outperform With $26 Price Target (Oct 31, 2011) Robert W. Baird Downgrades ClearBridge Energy MLP Opportunity Fund Inc. (EMO) To Neutral From Outperform With $20 Price Target (Oct 31, 2011) Robert W. Baird Lowers Genesis Energy LP (GEL) To Neutral From Outperform With $29 Price Target (Oct 31, 2011) Robert W. Baird Lowers Legacy Reserves Lp (LGCY) To Neutral From Outperform With $31 Price Target (Oct 31, 2011) Robert W. Baird Lowers Nuveen Energy MLP Total Return Fund (JMF) To Neutral From Outperform (Oct 31, 2011) Robert W. Baird Lowers Tortoise Energy Infrastructure Corp. (TYG) To Neutral From Outperform With $41 Price Target (Oct 31, 2011) Todays WS Events HCP Q3 11 Earnings Conference Call At 12:00 PM ET HCP, Inc. (HCP) will host a conference call at 12:00 PM ET on October 31, 2011 to discuss its Q3 11 earnings results. To access the webcast, log on at www.hcpi.com To hear the call, dial 800-706-7748 (US) or 617-614-3473 (International) with passcode 29508715. A replay of the call can be heard by dialing 888-286-8010 (US) or 617-801-6888 (International) with passcode 23906054. (Oct 31, 2011) Humana Q3 11 Earnings Conference Call At 9:00 AM ET Humana Inc. (HUM) will host a conference call at 9:00 AM ET October 31, 2011, to discuss its Q3 11 earnings results. To access the live webcast, log on at www.humana.com To listen to the replay, dial 800-642-1687 using conference ID # 49461318. (Oct 31, 2011) Loews Q3 11 Earnings Conference Call At 11:00 AM ET Loews Corp. (L) will host a conference call at 11:00 AM ET, October 31, 2011, to discuss its Q3 11 earnings results. To access the live webcast, log on at www.loews.com To hear the live call, dial 877-692-2592 (US) or 973-582-2757 (International) with ID 14714881. A replay of the call can be heard by dialing 800-585-8367 (US) or 404-537-3406 (International) with ID 14714881 . (Oct 31, 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