Thursday 3 November 2011

Morning Market Briefing

RTT News: Global Financial Newswires

Morning Market Briefing

Thursday, November 3, 2011, 09:01

Contents

Commentary

Stocks May Move Sharply Higher In Early Trading - U.S. Commentary

Stocks are likely to move to the upside in early trading on Thursday, as traders react to some upbeat economic data. The major index futures are currently pointing to a sharply higher open, with the Dow futures up by 145 points. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Economic News

Australia Retail Sales +0.4% In September

Retail sales in Australia climbed a seasonally adjusted 0.4 percent on month in September, the Australian Bureau of Statistics said on Thursday, coming in at A$20.912 billion. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Greek Referendum Likely In December, EU Withholds Loan Installment

Greece is expected to vote on a referendum on the European Union bailout package in the first week of December, while the EU withheld the payment of the latest loan installment worth 8 billion euros until after the referendum. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

China Non-Manufacturing Growth Slows In October

China's non-manufacturing growth slowed in October, according to survey results from the China Federation of Logistics and Purchasing (CFLP), released Thursday. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

U.S. Initial Jobless Claims Fall To 397,000, Lower Than Expected

New claims for unemployment insurance fell more than expected for the final week of October, according to figures released Thursday by the Labor Department. For the week ending October 29, the seasonally adjusted level of new claims for unemployment came in at 397,000, a drop of 9,000 from the previous week's revised level of 406,000. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

U.S. Worker Productivity Up 3.1 Percent In Q3, Higher Than Expected

U.S. worker productivity increased more than expected in the third quarter, according to statistics released Thursday by the Labor Department. Nonfarm labor productivity increased at a 3.1 percent annual rate, with output increases of 3.8 percent outstripping a 0.6 percent increase in hours worked. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

European Central Bank Unexpectedly Cuts Interest Rates

The European Central Bank unexpectedly lowered its interest rates by 25 basis points on Thursday as the debt crisis scene increasingly turns murkier. The Governing Council led by ECB President Mario Draghi decided to lower the main refi rate to 1.25 percent from 1.50 percent. Economists had expected the rate to be left unchanged in the new ECB chief's inaugural rate-setting meeting. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Earnings News

Qualcomm Q4 Profit Climbs

Qualcomm Inc. (QCOM) reported Wednesday a higher fourth-quarter profit as smartphone popularity fueled demand for chipsets. Both adjusted earnings and revenues exceeded the Street view. The company also issued its first-quarter 2012 financial outlook, with both adjusted earnings and revenues seen above analysts' consensus. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Kraft Foods Q3 Profit Rises; Ups 2011 EPS View

Kraft Foods Inc. (KFT) announced Wednesday a climb in third-quarter profit on the back of "strong" growth across its geographic segments and the success of pricing actions. Both operating earnings and revenues surpassed market expectations. The company also lifted its 2011 operating earnings and organic revenues guidance. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

News Corp. Q1 Profit Drops

News Corp. (NWS, NWSA) posted Wednesday a lower first-quarter profit, reflecting the impact of pre-tax charges connected with the company's Sky Deutschland securities and its aborted bid to acquire British Sky Broadcasting. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Murphy Oil Q3 Profit Zooms

Murphy Oil Corp. (MUR) said Wednesday third-quarter profit more than doubled from the previous year due to higher crude prices and stronger US retail gasoline station profits. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Hartford Financial Sinks to Q3 Breakeven

Hartford Financial Services Group Inc. (HIG) Wednesday reported a third-quarter breakeven, hurt by hefty one-time charges and catastrophe losses. Core earnings and revenues also declined year-over-year. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Prudential Financial Q3 Profit Up

Prudential Financial Inc. (PRU) Wednesday said third-quarter profit increased year-over-year as a result of a hefty increase in net realized investment gains. Adjusted operating earnings, however, missed the Street view. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Whole Food Markets Q4 Profit Jumps

Whole Food Markets Inc. (WFM) Wednesday posted a rise in fourth-quarter profit thanks to a 8.7 percent growth in comparable store sales. Earnings beat analysts' estimates, but revenues fell short. The company added that it is maintaining its fiscal 2012 financial guidance. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

ArcelorMittal Q3 Profit Plummets

ArcelorMittal (MT) Thursday reported a sharply lower third-quarter profit, primarily reflecting a hefty tax benefit in the prior year. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Sanofi Q3 Profit Increases

Sanofi SA (SNY) announced Thursday a higher third-quarter profit thanks to lower restructuring costs and a one-time gain from remeasurement. Business earnings, however, declined year-over-year. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Unilever Q3 Turnover Edges Up

Unilever plc (UN, UL, ULVR.L) Thursday posted a 4.9 percent improvement in third-quarter turnover on the back of a 15.9 percent growth in Personal Care revenues and also higher revenues from emerging markets. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

CVS Caremark Q3 Profit Climbs

CVS Caremark Corp. (CVS) reported Thursday a climb in third-quarter profit primarily due to higher Pharmacy segment revenues. The company also revised its 2011 earnings outlook. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

BCE Q3 Profit Jumps; Lifts 2011 Adj. EPS Outlook

BCE Inc. (BCE, BCE.TO) Thursday announced a jump in third-quarter profit on the "significant" contribution by the recently-created Bell Media business unit and higher favorable tax adjustments. The company also boosted its full-year adjusted earnings guidance. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

DirecTV Q3 Profit Up

DirecTV (DTV) said Thursday third-quarter profit increased as a result of strong growth in subscriber count and average revenue per user in its Latin America segment. Adjusted earnings, however, missed estimates while revenues topped. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Kellogg Q3 Profit Slides

Kellogg Co. (K) Thursday posted a slide in third-quarter profit hurt by higher cost of goods. The results fell short of the market view. The company also revised its 2011 earnings outlook. (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn

Broker Ratings Changes

RBC Capital Markets Downgrades Sierra Wireless Inc (SWIR) To Sector Perform From Outperform With $7 down from $11 Price Target

(Nov 3, 2011) ForwardFacebookTwitterLinkedIn

Todays WS Events

Boeing To Present At Goldman Sachs Conference; Webcast At 11:00 AM ET

Boeing (BA) CEO, Jim Albaugh will present at the Goldman Sachs Global Industrials Conference in Boston. The event is scheduled to begin at 11:00 AM ET on November 3, 2011. To access the live webcast, log on at www.boeing.com/companyoffices/financial/ (Nov 3, 2011) ForwardFacebookTwitterLinkedIn

CVS Caremark Q3 11 Earnings Conference Call At 8:30 AM ET

CVS Caremark Corp. (CVS) will host a conference call at 8:30 AM ET on November 3, 2011 to discuss its Q3 11 earnings results. To access the audio webcast, log on at http://info.cvscaremark.com/investors (Nov 3, 2011) ForwardFacebookTwitterLinkedIn

Duke Energy Q3 11 Earnings Conference Call At 11:00 AM ET

Duke Energy Corp. (DUK) will host a conference call at 11:00 AM ET on November 3, 2011, to discuss Q3 11 earnings results. To access the live webcast, log on to www.duke-energy.com/investors/ To listen to the call, dial 800-753-0343 (US) or 913-312-0418 (International) with confirmation code 5327887. For a replay call, dial 888-203-1112 (US) or 719-457-0820 (International) with code 5327887. (Nov 3, 2011) ForwardFacebookTwitterLinkedIn

Eastman Kodak Q3 11 Earnings Conference Call At 11:00 AM ET

Eastman Kodak Co. (EK) will host a conference call at 11:00 AM ET on November 3, 2011, to discuss Q3 11 earnings results. To access the webcast, log on to www.kodak.com/go/invest To listen to the call, dial +1 480-629-9771 with conference ID 4474312#. For a replay call, dial +1 303-590-3030 with access code 4474312#. (Nov 3, 2011) ForwardFacebookTwitterLinkedIn

Eaton To Present At Goldman Sachs Conference; Webcast At 9:30 AM ET

Eaton Corp. (ETN) will present at the Goldman Sachs Global Industrials Conference in Boston. The event is scheduled to begin at 9:30 AM ET, November 3, 2011. To access the live webcast , log on to www.eaton.com. (Nov 3, 2011) ForwardFacebookTwitterLinkedIn

Kellogg Q3 11 Earnings Conference Call At 9:30 AM ET

Kellogg Company (K) will host a conference call at 9:30 AM ET on November 3, 2011 to discuss its Q3 11 earnings results. To access the live audio webcast, log on at http://investor.kelloggs.com To hear the live call, dial (888) 338-8373 (US) or (973) 872-3000 (International). A replay of the call can be heard by dialing (855) 859-2056 (US) or (404) 537-3406 (International) with access code # 97435380. (Nov 3, 2011) ForwardFacebookTwitterLinkedIn

NYSE Euronext Q3 11 Earnings Conference Call At 8:00 AM ET

NYSE Euronext (NYX) will host a conference call at 8:00 AM ET on November 3, 2011, to discuss Q3 11 earnings results. To access the live audio webcast, log on to www.nyseeuronext.com/ir To listen to the call, dial 800.599.9829 (US) or 617.847.8703 (International) with passcode: 69094463. For a replay call, dial 888.286.8010 (US) or 617.801.6888 (International) with passscode: 38890823 (Nov 3, 2011) ForwardFacebookTwitterLinkedIn

Prudential Financial Q3 11 Earnings Conference Call At 11:00 AM ET

Prudential Financial, Inc. (PRU) will host a conference call at 11:00 AM ET on November 3, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.investor.prudential.com To hear the live call, dial (877) 777-1971 (US) or (612) 332-0226 (International). A replay of the call can be heard by dialing (800) 475-6701 (US) or (320) 365-3844 (International) with Access Code: 194717 . (Nov 3, 2011) ForwardFacebookTwitterLinkedIn

Starbucks Q4 11 Earnings Conference Call At 5:00 PM ET

Starbucks Corp. (SBUX) will host a conference call at 5:00 PM ET on November 3, 2011 to discuss its Q4 11 earnings results. To access the live webcast, log on at http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irol-irhome (Nov 3, 2011) ForwardFacebookTwitterLinkedIn

Stocks To Watch

Brimming With Energy...

This energy company comes on our radar, after having built a solid record of production and reserve growth since its founding in 1954. The company has increased reserves in 22 out of the last 25 years (Nov 3, 2011) Full ArticleForwardFacebookTwitterLinkedIn


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