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good morning
data:
Gallup US Consumer Spending Measure
[Bullet8:30 AM ET
PMI Manufacturing Index
[Report][djStar]9:45 AM ET
ISM Mfg Index
[Report][Star]10:00 AM ET
Construction Spending
[Report][djStar]10:00 AM ET
4-Week Bill Announcement
[Bullet11:00 AM ET
3-Month Bill Auction
[Bullet11:30 AM ET
6-Month Bill Auction
[Bullet11:30 AM ET
Gallup US ECI
[Bullet1:00 PM ET
Pre Market Movers
Top Gaining Stocks
Price %Change
HGSH China Hgs Real Es... 9.65 28.15%
ELOS Syneron Medical L... 12.04 19.92%
DGLY Digital Ally Inc.... 22.00 17.90%
ADMP Adamis Pharms CO ... 4.70 16.92%
CPWR Compuware Corp. 10.74 14.81%
FLWS 1-800 Flowers.com... 5.80 12.62%
ENOC Enernoc Inc. 20.92 6.52%
JDST Direxion Daily Jr... 10.85 6.06%
SYNA Synaptics Incorpo... 85.45 4.08%
SPLS Staples Inc. 12.11 3.68%
SD Sandridge Energy ... 5.42 3.44%
AIXG Aixtron SE 13.53 3.44%
NVS Novartis AG Ads 92.88 3.38%
ACHN Achillion Pharmac... 11.92 3.03%
DSKY idreamsky Technol... 21.20 2.96%
GRPN Groupon Inc. 7.00 2.94%
STO Statoil Asa Ads 29.22 2.92%
CEA China Eastern Air... 16.70 2.90%
LPSN Liveperson Inc. 13.26 2.71%
TMUS T-mobile US Inc. ... 30.84 2.53%
Top Losing Stocks
Price %Change
EXEL Exelixis Inc. 2.01 -51.45%
CONN Conn\'s Inc. 34.70 -22.60%
JNUG Direxion Daily Jr... 23.30 -6.46%
BIOF Biofuel Energy Co... 11.94 -5.31%
ORAN Orange 14.52 -4.35%
RUSL Direxion Daily Ru... 13.75 -4.05%
NUGT Direxion Daily Go... 43.99 -3.83%
EXAS Exact Sciences Co... 20.08 -3.69%
SNSS Sunesis Pharmaceu... 7.25 -3.20%
VISN Visionchina Media... 15.10 -2.89%
TUBE Tubemogul Inc 13.51 -2.74%
GFI Gold Fields Ltd. ... 4.72 -2.48%
PT Portugal Telecom ... 2.14 -2.28%
PALL Etfs Physical Pal... 86.15 -2.21%
GDXJ Market Vectors\u0... 41.20 -2.14%
TKMR Tekmira Pharmaceu... 21.00 -1.87%
CRTO Criteo S.a. Adr (... 36.85 -1.86%
UNG United States Nat... 21.85 -1.84%
VIPS Vipshop Holdings ... 193.01 -1.84%
DRYS Dryships Inc 3.23 -1.82%
Read more at http://thestockmarketwatch.com/markets/pre-market/#a0gfLzsevr2M5yD3.99
futures +9
good morning
Earnings Preview for the week of September 2 - 5 some of the bigger names include:
Tuesday:
Pre Market - CONN, KFX
After Hours - PIKE, GWRE, AVNW, PRGN
Wednesday:
Pre Market - NAV, TOL, GIII, VNCE, EGAN
After Hours - PVH, ABM, MTRX, DDC, SCVL, HRB, CBK, AVAV, BV
Thursday:
Pre Market - UTIW, JOY, CIEN, HOV, PAY, MFRM, MEI, MBLY
After Hours - ESL, COO, ZQK, FNSR, ZUMZ, ACET, BEBE, BLOX, AMBA, SEAC
TRADER RADAR for WEEK of 9/1 to 9/5 ECONOMIC AND EARNINGS
Monday, September 1
US Economics (Time Zone: EDT)
US markets closed for Labor Day holiday
11:00 Fed selling $1.75b-$2.25b Treasuries in 25 to 30-year range
Global Economics (Time Zone: GMT)
JPY Capital Spending, Company Profits
01:00 CNY Manufacturing PMI (Aug)
06:00 EUR German GDP (2Q final)
08:00 EUR Eurozone Manufacturing PMI (Aug final)
08:30 GBP Net Consumer Credit
08:30 GBP UK Manufacturing PMI
Earnings
No reports
Tuesday, September 2
US Economics (Time Zone: EDT)
10:00 ISM Manufacturing (Aug) - expected 57.0, prior 57.1
10:00 ISM Prices Paid - exp 59.0, prior 59.5
10:00 Construction Spending MoM (Jul) - exp 0.8%, prior -1.8%
11:00 Fed purchasing $1.5b-$2b notes in 10 to 20-year range
11:30 Treasury to sell $28b 3-month bills, $24b 6-month bills, $15b 11-day CMB
Global Economics (Time Zone: GMT)
01:30 AUD Building Approvals
04:30 AUD RBA Rate Decision
05:45 CHF GSP (2Q)
08:30 GBP UK Construction PMI
09:00 EUR Eurozone Producer Prices
Earnings
Before:
Conn's (CONN)
Wednesday, September 3
US Economics (Time Zone: EDT)
07:00 MBA Mortgage Purchase Index
09:45 ISM New York
10:00 Factory Orders (Jul) - expected 10.8%, prior 1.1%
5:00 Total Vehicle Sales (Aug) - expected16.60M, prior 16.40M
5:00 Domestic Vehicle Sales - exp 13.20M, prior 12.95M
11:00 Fed to buy $1.75b-$2.25b Treasuries in 25 to 30-year range
11:30 Treasury to sell 4-week bills
Global Economics (Time Zone: GMT)
RBA's Stevens speaks in Adelaide
01:00 CNY Non-manufacturing PMI (Aug)
01:30 AUD GDP (2Q)
01:35 JPY Japan Services PMI
01:45 CNY HSBC China Services PMI (Aug)
08:30 GBP UK Services PMI
09:00 EUR Eurozone Retail Sales MoM (Jul)
09:00 EUR Eurozone GDP (2Q prelim)
14:00 CAD Bank of Canada Rate Decision
Earnings
Before:
Toll Brothers (TOL)
After:
H&R Block (HRB)
PVH Corp (PVH)
Thursday, September 4
US Economics (Time Zone: EDT)
07:30 Challenger Job Cuts - prior 24.4%
08:15 ADP Private Payrolls (Aug) - expected 220K, prior 218K
08:30 Initial Jobless Claims - expected 300K, prior 298K
08:30 Continuing Claims - prior 2527K
10:00 ISM Services (Aug) - exp 57.5, prior 58.7
11:00 Fed to purchase $4.25b-$5.25b Treasuries in 8 to 10-year range
Fedspeak
12:30pm Mester (presumed hawk, voter) speaks in Pittsburgh
8:15pm Fisher (hawk, voter) speaks in Dallas
9:00pm Kocherlakota (dove, voter) speaks in Montana
Global Economics (Time Zone: GMT)
01:30 AUD Trade Balance and Retail Sales
06:00 EUR German Factory Orders
07:30 EUR German Construction PMI
11:00 GBP Bank of England Rate Decision
11:45 EUR ECB Rate Decision
Earnings
Before:
Joy Global (JOY)
Ciena (CIEN)
Mattress Firm (MFRM)
After:
Quiksilver (ZQK)
Finisar (FNSR)
El Pollo Loco (LOCO)
Friday, September 5
US Economics (Time Zone: EDT)
08:30 Nonfarm Payrolls (Aug) - expected 225K, prior 209K
08:30 Private Payrolls - exp 205K, prior 198K
08:30 Manufacturing Payrolls - exp 20K, prior 28K
08:30 Unemployment Rate - exp 6.1%, prior 6.2%
08:30 Average Hourly earnings YoY - exp 2.1%, prior 2.0%
08:30 Average Weekly Hours - exp 34.5, prior 34.5
Fedspeak
3:45pm Rosengren (moderate, nonvoter) speaks in Boston
Global Economics (Time Zone: GMT)
05:00 JPY Leading Index (Jul prelim)
06:00 EUR German Industrial Production
Earnings
No major reports scheduled
Happy Labor Day...
Markets closed Monday
Frontrunning:
Obama Cools Talk of Strikes Against Islamic State in Iraq or Syria (WSJ)
Separatists say will allow 'trapped' Ukrainian forces to withdraw (Reuters)
Ukraine Fighting Surges as Russian-Backed Forces Gain (BBG)
Missouri police sued for $40 million over actions in Ferguson protests (Reuters)
BTFDividend stocks? Tesco Slumps as Retailer Slashes Dividend 75% on Forecast (BBG)
In town halls, U.S. lawmakers hear voter anger over illegal migrants (Reuters)
Obamacare’s Latest Threat Nears Turning Point in Court (BBG)
Untangling the Mess of Austrian Bank Hypo (WSJ)
The billion-dollar fall of the house of Espirito Santo (Reuters)
Manhattan Condo Resale Prices Reach Record High (BBG)
California Drought Squeezes Wells: State Considers Regulating Groundwater Use for First Time (WSJ)
Hedge Funds Hunting Clues in Treasury Tax-Inversion Limit (BBG)
Tragedy-hit Malaysia Airlines to lose 6,000 jobs in bold revamp (Reuters)
Jet Fuel Crunch Strikes New York Airports Before Holiday (BBG)
Volcano Erupts in Papua New Guinea (WSJ)
Google tests airborne drones to deliver goods (Reuters)
Corn Heists Turning Grain Port Into Argentina’s Chicago (BBG)
Syrian refugees top 3 million, half of all Syrians displaced: U.N. (Reuters)
IBM launches Watson system for research, hopes for breakthroughs (Reuters)
Overnight Media Digest
WSJ
* President Barack Obama signaled the U.S. has no immediate plans to escalate military operations against Islamic State extremists in Iraq or Syria, stressing the need to counter the group's advance while formulating a broader strategy to protect U.S. interests and allies. (http://on.wsj.com/1tQuYsK)
* Google Inc's advanced-research lab Google X said on Thursday it was developing a system of drones to deliver goods. Google said a 5-foot-wide single-wing prototype from its Project Wing carried supplies including candy bars, dog treats, cattle vaccines, water and radios to two farmers in Queensland, Australia, earlier this month. (http://on.wsj.com/VU8ytR)
* Some of the nation's largest banks distanced themselves from a cyberattack that hit J.P. Morgan Chase & Co, saying they had no indication they had been the victims of a similar incident. Their comments came as law-enforcement officials pursued investigations of potential breaches at J.P. Morgan and a handful of other financial institutions that haven't been identified. (http://on.wsj.com/1orM2j8)
* Vivendi SA in a swift decision on Thursday favored an offer worth nearly $10 billion for its Brazilian telecommunications business from Spanish telecom giant Telefónica SA over a bid from rival Telecom Italia SpA , ending a surprise bidding war between two of Europe's largest telecom companies.(http://on.wsj.com/1tg8wvn)
* A PG&E Corp electrical substation for Silicon Valley was breached for a second time, despite the utility's efforts to bulk up security following an armed attack last year. The Metcalf substation is a critical piece of Silicon Valley's grid, flowing power to America's technology hub. (http://on.wsj.com/1ljAvaJ)
* Government-bond yields touched new lows in the U.S. and Germany, as investors piled anew into ultrasafe debt amid growing concern about the pace of European growth. The gains underscore the dynamics that have made government bonds a surprise star performer this year - a winning streak many analysts now expect will continue. (http://on.wsj.com/1vTHPKY)
* Bankers have been using code names to keep reporters, traders and even rival companies from sniffing out deal news before formal announcements are made. But deal-making powerhouse Goldman Sachs Group Inc is putting an end to the name game, opting instead to automate the process to avoid the pitfalls that go with the territory. (http://on.wsj.com/1vTIWKK)
* Twitter Inc plans to open an office in populous Indonesia in the next three to six months, an executive said, highlighting the importance of fast-growing emerging markets as the company seeks future growth. (http://on.wsj.com/1qm13qY)
FT
President Barack Obama said on Thursday that he has not yet developed a broad strategy for confronting Islamic State, dampening expectations of imminent US military action against Islamist radicals in Syria.
Moscow faced more backlash over growing evidence of its direct military involvement in eastern Ukraine after Nato warned on Thursday that Russia has well over 1000 troops operating inside the country.
Ahead of next month's independence referendum, British Prime Minister David Cameron issued a passionate defence of the UK and its economic benefits at a dinner of Scottish members of the CBI business lobby on Thursday night.
British Prime Minister David Cameron suffered a setback on Thursday when a lawmaker from his ruling Conservative party unexpectedly resigned and defected to the anti-EU UKIP party.
Royal Dutch Shell Plc has sought permission from the U.S. government to drill in the Arctic Ocean and is keeping open the possibility that it could drill there next summer
Deutsche Bank, Germany's largest lender has been fined 4.7 million pounds ($7.79 million)by Britain's financial watchdog after it failed to report correctly all its transactions of a certain type of equity derivative in a six-year period between 2007 and 2013 to the regulator.
NYT
* Royal Dutch Shell Plc submitted a plan to the federal government on Thursday to try once again to explore for oil in the Alaskan Arctic, following years of legal and logistical setbacks as well as dogged opposition from environmentalists. (nyti.ms/1sM2jDh)
* Barclays Capital Plc has agreed to provide $275 million to finance Detroit's operations as it comes out of bankruptcy, according to documents filed in bankruptcy court.(nyti.ms/1tQtA9y)
* The French conglomerate Vivendi SA is saying goodbye to the telecom sector. The company, whose holdings include the Universal Music Group and the French pay-television operator Canal Plus, said on Thursday that it was in exclusive talks to sell its Brazilian telecommunications unit to the Spanish carrier Telecom Italia SpA for about $9.8 billion. (nyti.ms/1vTHbNJ)
* A British regulator fined the German lender Deutsche Bank AG 4.7 million pounds($7.79 million) on Thursday for having failed to properly report certain swaps transactions over a period of almost six years. (nyti.ms/1zKyqps)
* Huarong Asset Management, China's biggest manager of bad debt, said on Thursday that it had attracted about $2.4 billion from eight investors, including Goldman Sachs Group and Warburg Pincus, before an expected initial public offering here. (nyti.ms/1AZk0Ep)
* Private bank Lombard Odier unveiled its financial results publicly for the first time in its 218-year history on Thursday, reporting a profit and becoming the latest Swiss financial institution to pull back the curtain on what has been a traditionally secretive banking culture. (nyti.ms/YY8xr9)
Canada
THE GLOBE AND MAIL
* While federal public health authorities have assured Canadians that there is very little risk of an Ebola outbreak, hospitals across the country are training staff and reinforcing protocols should an infected patient walk through their doors. (http://bit.ly/1C80ffj)
* The apparent presence of Russian troops in Eastern Ukraine amounts to an "active invasion," Canadian Foreign Affairs Minister John Baird said, calling Russia's advance an "absolutely reckless" and "shamelessly dishonest" provocation leading up to a National Atlantic Treaty Organization summit next week. (http://bit.ly/1qmzCgv)
Reports in the business section:
* First, Germany expressed reservations about parts of the Canada-Europe free trade deal. Now, European Union lawmakers are threatening to block the agreement outright. The Greens and other left-wing parties are objecting to any trade deal that contains Investor State Dispute Settlement provisions. It allows companies to sue governments when they believe their trade rights have been violated. But critics say the system gives multinationals too much power - a concern that would magnify if the Canadian agreement becomes a model for the European Union-United States free trade agreement, which is also being negotiated. (http://bit.ly/1pPhNIj)
NATIONAL POST
* As many as 1,000 Canadian troops at a time are expected to soon be constantly rotating through Europe. It will be the first time that Canada has so many troops across the pond since it closed two bases in Germany's Black Forest when the Cold War ended. With virtually no domestic political discussion about what Canadian Forces might end up having to do in eastern Europe, the Stephen Harper government as well as allies such as Britain have provided NATO with a template for how future deployments will try to assist NATO's easternmost allies. (http://bit.ly/XXOJE4)
* Canada's premiers have agreed at their annual meeting that they need more money from Ottawa to pay for healthcare and infrastructure - a familiar refrain at these gatherings - but there was no consensus on Thursday on how much cash they want to deal with crumbling roads and an aging population. (http://bit.ly/1lzxdk3)
FINANCIAL POST
* Repsol SA has dropped a plan to buy all of Talisman Energy Inc, and is instead weighing the purchase of some of the Canadian company's shale assets, people with knowledge of the matter said. (http://bit.ly/1poNQiU)
* Air Canada has a vision of turning Toronto's Pearson International Airport into a global aviation hub to rival Chicago's O'Hare - but the airline's Chief Executive Calin Rovinescu says that it could all be undone by the Ontario Liberal government's determination to dramatically increase jet fuel taxes and drive away air traffic. (http://bit.ly/1qN9RDt)
China
SHANGHAI SECURITIES NEWS
- The 84 fund firms who have already reported their first-half results recorded a combined profit of 9.6 billion yuan ($1.6 billion), according to earnings data. Commodities-related funds performed the best.
- China's pharmaceutical sector could see a pick-up in growth over the next few months after a fierce crackdown on corruption and drug pricing dragged on the sector, the official financial paper said, citing private-equity investors.
- Shanghai plans to invest up to 8 billion yuan ($1.3 billion) every year to support the elderly care industry, according to an official at the Community Health Alliance.
CHINA SECURITIES JOURNAL
- Net profits of 2,380 Shanghai- and Shenzhen-listed companies rose 9.4 percent in the first half of the year, according to calculations by the financial newspaper.
SECURITIES TIMES
- Chinese cities of Hangzhou and Xi'an have withdrawn any limitations on purchasing property because of high numbers of unsold properties.
SHANGHAI DAILY
- The trial of former Shanghai health official Huang Fengping began on Thursday, according to the Shanghai No. 1 Intermediated People's Court. Huang is charged with corruption after authorities said he failed to account for over 15 million yuan of cash and property.
CHINA DAILY
- Chinese President Xi Jinping on Wednesday called for closer cooperation with Russia and other Central Asian countries to combat terrorism.
PEOPLE'S DAILY
- The United States must understand that China will not turn a blind eye to any outsiders trying to "peep in the window", the paper, which acts as a mouthpiece for the Party, said in a commentary. The two countries are sparring over a recent near-collision between a Chinese and a U.S. jet.
Britain
The Times
CAMERON BRACED FOR MORE UKIP DEFECTIONS
David Cameron has been warned to brace himself for more defections in the coming months after a leading Conservative MP stunned Westminster by quitting his seat and switching to Ukip.
BIG HITTERS CLASH IN BATTLE FOR SCOTLAND
There are just three weeks to go before Scotland votes on independence - and the trickle of business leaders prepared to declare their hand has suddenly become a flood.
The Guardian
SMEs FEELING THE PINCH AS FUNDING FOR LENDING FAILS TO PICK UP
Business lending remains in the doldrums despite the economic recovery after the Bank of England's Funding for Lending Scheme (FLS) recorded another poor performance in the second quarter.
DOUGLAS CARSWELL'S DEFECTION TO UKIP PUTS PRESSURE ON DAVID CAMERON
David Cameron was forced to interrupt a pre-referendum trip to Scotland on Thursday as the Conservative leadership scrambled to deal with the surprise defection of a hardline Eurosceptic MP to Ukip, triggering an early byelection.
The Telegraph
SCOTTISH INDEPENDENCE: CBI CHAIRMAN WARNS OF 'ENORMOUS' RISKS WITH A YES VOTE Sir Mike Rake, president of the Confederation of British Industry, says Scottish secession will endanger the recoveries on both sides of the border.
SHELL COULD RESURRECT CONTROVERSIAL ARCTIC OIL DRILLING PLAN
Royal Dutch Shell could resurrect its controversial plan to drill for oil in the Alaskan Arctic after filing new plans with the U.S. government.
Sky News
BUSINESS LEADERS BACK SCOTTISH INDEPENDENCE
A letter by more than 200 business figures supporting Scottish independence has been published, just 24 hours after opponents made a similar pitch.
Fly On The Wall Pre-Market Buzz
ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
Personal income for July at 8:30--consensus up 0.3%
Consumer spending for July at 8:30--consensus up 0.2%
Chicago PMI business barometer for August at 9:45--consensus is 56.4
Consumer sentiment index for August at 9:55--consensus 80.5
ANALYST RESEARCH
Upgrades
AGCO (AGCO) upgraded to Neutral from Underweight at JPMorgan
OmniVision (OVTI) upgraded to Market Perform from Underperform at Raymond James
Downgrades
Mobile TeleSystems (MBT) downgraded to Hold from Buy at Deutsche Bank
Sunesis (SNSS) downgraded to Neutral from Outperform at Wedbush
Initiations
3D Systems (DDD) initiated with a Buy at Stifel
Athlon Energy (ATHL) initiated with an Overweight at Barclays
ExOne (XONE) initiated with a Hold at Stifel
Federated National (FNHC) initiated with an Outperform at William Blair
Liberty TripAdvisor (LTRPA) initiated with an Outperform at FBR Capital
Stratasys (SSYS) initiated with a Buy at Stifel
COMPANY NEWS
Fiat (FIATY) said Chrysler merger on schedule to go ahead as intended
Microchip Technology (MCHP) confirmed preliminary discussions with CSR plc (CSRE)
Tyson Foods (TSN), Hillshire complete merger, see FY15 synergy savings of $225M
Fred's (FRED) announced operational restructuring, closing of 60 stores
Big Lots (BIG) announced new $250M share repurchase program
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Big Lots (BIG), Ocular Therapeutix (OCUL), Bona Film (BONA), Amira Nature Foods (ANFI), OmniVision (OVTI), Rally Software (RALY), Zoe's Kitchen (ZOES), China Cord Blood (co), Splunk (SPLK), Avago (AVGO), Veeva (VEEV)
Companies that missed consensus earnings expectations include:
Fred's (FRED)
Companies that matched consensus earnings expectations include:
American Software (AMSWA), Pacific Sunwear (PSUN)
NEWSPAPERS/WEBSITES
JPMorgan (JPM) hack said to occur over months, Bloomberg reports
Google (GOOG) has been developing delivery drones for two years, The Atlantic reports (AMZN)
Royal Dutch Shell (RDS.A) submits new Arctic drilling plan, NY Times says
McDonald's (MCD) said 12 restaurants in Russia temporarily shut, Bloomberg reports
J&J (JNJ) begins sales process for its medical device unit Cordis, WSJ says
Google's (GOOG) Smith said to be top candidate for U.S. CTO job, Bloomberg reports
SYNDICATE
Authentidate (ADAT) files registered direct offering of approximately $2.47M
Brookfield (BAM) files $3B mixed securities shelf
Carrizo Oil & Gas (CRZO) files automatic mixed securities shelf
NanoString (NSTG) files $100M mixed securities shelf
Quantum (QTWW) files $75M mixed securities shelf
Pre Market Movers
Top Gaining Stocks
Price %Change
CRTO Criteo S.a. Adr (... 37.06 20.91%
UEPS Net 1 Ueps Techno... 13.50 15.38%
VEEV Veeva Systems Inc... 27.78 11.30%
DGLY Digital Ally Inc.... 16.95 8.10%
SPLK Splunk Inc. 48.01 6.01%
BCRX Biocryst Pharmace... 13.93 5.45%
OTIV On Track Innovati... 3.00 5.26%
FOLD Amicus Therapeuti... 7.65 5.23%
CYS Cys Investments 9.81 5.03%
TICC Ticc Capital Corp... 10.25 5.02%
RUSS Direxion Daily Ru... 12.85 4.81%
CHU China Unicom (hon... 17.99 4.71%
IPGP Ipg Photonics Cor... 72.00 4.44%
PSUN Pacific Sunwear o... 2.40 4.35%
NXPI Nxp Semiconductor... 69.80 4.24%
AVGO Avago Technologie... 79.55 4.18%
BONA Bona Film Group L... 7.50 4.02%
GASL Direxion Daily Na... 39.87 3.86%
KNDI Kandi Technologie... 19.65 2.77%
JE Just Energy Group... 6.15 2.50%
Top Losing Stocks
Price %Change
UNM Unum Group 32.44 -10.29%
SEE Sealed Air Corp. ... 32.83 -8.32%
LXK Lexmark Internati... 45.94 -8.30%
DVA Davita Healthcare... 70.71 -4.99%
EQT Eqt Corporation 93.67 -4.41%
ISNS Image Sensing Sys... 3.62 -4.23%
TKMR Tekmira Pharmaceu... 19.96 -3.85%
RUSL Direxion Daily Ru... 14.73 -2.90%
SGOC Sgoco Group Ltd 2.76 -2.82%
CSRE Csr Plc (cambridg... 50.12 -2.59%
JNUG Direxion Daily Jr... 23.52 -2.49%
FRO Frontline 2.20 -2.22%
WLP Wellpoint Inc. 114.40 -1.59%
TZA Direxion Daily Sm... 14.30 -1.52%
VXX Barclays Bank Plc... 27.88 -1.38%
NOAH Noah Holdings 15.00 -1.32%
RSX Market Vectors\u0... 24.06 -1.15%
CGA China Green Agric... 2.23 -0.89%
STO Statoil Asa Ads 28.29 -0.60%
MCHP Microchip Technol... 47.74 -0.58%
Read more at http://thestockmarketwatch.com/markets/pre-market/#Hy573f8sLzC31Los.99
data:
Personal Income and Outlays
[Report][Star]8:30 AM ET
Chicago PMI
[Report][djStar]9:45 AM ET
Consumer Sentiment
[Report][djStar]9:55 AM ET
futures +32
good morning
frontrunning:
Clearly it's time to bomb Assad (on Qatar instructions): Islamic State executes dozens of Syrian army soldiers (Reuters)
Ukraine Declares Russian Invasion as Sanctions Threat Raised (BBG)
Ukraine Reports Russian Invasion on a New Front (NYT)
German Unemployment Rises as Risks to Economy Build (BBG)
Ebola spreads to Nigeria oil hub Port Harcourt (BBC)
FBI Probes Possible Hacking Incident at J.P. Morgan (WSJ)
FBI, Secret Service investigate reports of cyber attacks on U.S. banks (Reuters)
If you like your Venezuela, you can stay in Venezuela: Airlines Abandon Fliers Amid Currency Dispute (WSJ)
Boomer Wealth Dented by Mortgages Poses U.S. Risk (BBG)
People Aren't Buying Guns (BusinessWeek)
Icelandic Bardarbunga Volcano Update: Fractures, Sinkholes Spotted During Research Flight (Weather Channel)
Silva Shakes Up Brazilian Election (FT)
Samsung unveils smartwatch that can make calls (Reuters)
Overnight Media Digest
WSJ
* The Islamic State runs a self-sustaining economy across territory it controls in Syria and Iraq, pirating oil while exacting tribute from a population of at least eight million, Arab and Western officials said, making it one of the world's richest terror groups and an unprecedented threat. (http://on.wsj.com/1lg9Qvt)
* The Federal Bureau of Investigation is probing a computer-hacking attack on J.P. Morgan Chase & Co and as many as four other banks, in what people familiar with the probe described as a significant breach of corporate computer security. (http://on.wsj.com/1td4fso)
* Argentina's international reserves are starting to dwindle in the wake of the country's second sovereign-debt default in almost 13 years, putting added stress on the peso and an economy believed to be in recession. (http://on.wsj.com/1zHU1Pu)
* Alibaba Group Holding Ltd <IPO-BABA.N> reported big growth in revenue from mobile devices, which may bolster its case next month when the Chinese e-commerce giant begins to pitch investors on its long-awaited initial public offering. (http://on.wsj.com/1qAtKl3)
* A federal judge on Wednesday denied a request from Apple Inc to bar Samsung Electronics Co from selling smartphones and tablets in the United States that infringe on Apple patents. Apple had sought a permanent injunction against certain Samsung products after a judge and jury found in May that the Korean firm had infringed on three of its patents in a high-profile intellectual property dispute. (http://on.wsj.com/1tEPAVN)
* With Venezuela holding back on releasing $3.8 billion in airline-ticket revenue because of strict currency controls, Delta Air Lines Inc, American Airlines Group Inc and other airlines have slashed service to Venezuela by half since January. (http://on.wsj.com/1pjKopL)
FT
The head of the International Monetary Fund, Christine Lagarde, is facing a formal investigation by a French court for alleged negligence in a political fraud affair dating from 2008 when she was finance minister.
The European Central Bank has hired BlackRock Solutions to provide consultancy services in its preparations for a programme to buy asset-backed securities.
Sales at Tesco slipped 4 percent on a quarterly basis according to industry data, highlighting the wounds inflicted by the supermarket price war on Britain's No.1 grocer.
The battle for Brazil's telecoms market is hotting up after one of the country's largest phone companies, Grupo Oi SA , unveiled plans to take over Telecom Italia's local mobile business.
Europe's largest budget carrier Ryanair is set to offer "business class" service on all of its flights as it tries to gain a bigger share of the European corporate travel market.
Fashion chain Zara, owned by Spain's Inditex, pulled from sale on Wednesday a striped children's top decorated with a large six-pointed star following public outcry that it resembled clothing worn by inmates in Nazi concentration camps during the Holocaust.
NYT
* A number of United States banks, including JPMorgan Chase & Co and at least four others, were struck by hackers in a series of coordinated attacks this month, according to four people briefed on a continuing investigation into the crimes. (http://nyti.ms/VREJu6)
* Christine Lagarde, the head of the International Monetary Fund, said on Wednesday that French prosecutors had placed her under formal investigation, in an escalation of a long-running inquiry into a murky business affair that dates to her time as finance minister under President Nicolas Sarkozy. (http://nyti.ms/1sBSnfy)
* With less than a month before its initial public offering, the Alibaba Group Holding Ltd <IPO-BABA.N> is intent on showing just how profitable - and focused on mobile - it truly is. The Chinese e-commerce behemoth disclosed on Wednesday that its profit nearly tripled in the quarter that ended June 30, to $2 billion. Its sales climbed 46 percent, to $2.5 billion. (nyti.ms/1tXKbHr)
* A British regulator fined Royal Bank of Scotland Group PLC 14.5 million pounds, or about $24 million, on Wednesday for failing to offer proper advice to mortgage customers, and criticized the bank for its delays in responding to the initial complaints. (nyti.ms/1qgvMFK)
* Tyson Foods Inc has reached a deal with the U.S. Justice Department to sell its hog-purchasing business as part of its planned $7.7 billion acquisition of Hillshire Brands Co . The Justice Department said Wednesday that it would require Tyson to sell its Heinold Hog Markets unit to win antitrust approval for the merger. (nyti.ms/1rBpkwM)
* Lawmakers and governor Jerry Brown of California on Wednesday said they had reached an agreement to expand the California film incentive program, capping a drive by entertainment industry unions, filmmakers and executives to bolster sagging movie and television production in the state. (http://nyti.ms/1qiJBn7)
* The Securities and Exchange Commission unanimously approved rules on Wednesday that would require issuers of asset-backed securities - complex investments based on mortgages, auto loans or other types of debt - to disclose more information about the underlying loans. (nyti.ms/1nFOJ14)
* Chiquita Brands International and Fyffes PLC tried to reassure investors about their planned merger, saying on Wednesday that they now expected the combined company to achieve an additional $20 million in annual cost savings by 2016. (nyti.ms/1leh17k)
* The federal government is expected to finish its fiscal year with a relatively modest budget deficit as the gap between revenue and spending continues a sharp decline, the Congressional Budget Office said Wednesday. (http://nyti.ms/1q6GjEO)
China
CHINA SECURITIES JOURNAL
- Yu Shengfa, vice president of e-commerce giant Alibaba's <IPO-BABA.N> future financial company, said the company has submitted applications to related regulators to set up "Ali Bank" which could be approved in September.
SHANGHAI SECURITIES NEWS
- Shanghai's municipal government has published a document outlining its strategies to develop the city into a global trading centre, including plans to build international trading platforms for commodities such as natural gas and iron ore in its free-trade zone.
SECURITIES TIMES
- China could implement real estate registration system in 2017, said Leng Hongzhi, an official at the Ministry of Land and Resources.
CHINA DAILY
- Lenovo Group Ltd will soon settle a year-old class action lawsuit over laptop malfunctions in the United States for approximately $70 million.
Britain
The Times
SALMOND'S SCOTLAND WILL LIVE IN ETERNAL POVERTY, SAYS BROWN
Inequality and poverty could "survive until doomsday" if Alex Salmond wins Scotland's independence referendum, according to former British Prime Minister Gordon Brown.
TESCO'S WOES DEEPEN AS SHOPPERS CHECK OUT
Sales at Britain's largest supermarket group have plunged and its market share has slipped again, highlighting the challenge facing Dave Lewis, Tesco's incoming chief executive.
The Guardian
DAVID CAMERON MULLS JOINING OBAMA IN BOMBING ISIS IN IRAQ
David Cameron is planning to indicate to U.S. President Barack Obama and other NATO leaders at a summit in Wales next week that Britain is keeping open the option of joining the United States in launching air strikes against forces of the Islamic State in Iraq.
CHRISTINE LAGARDE TO BE INVESTIGATED FOR ALLEGED ROLE IN POLITICAL FRAUD CASE
The head of the International Monetary Fund, Christine Lagarde, has been charged with "simple negligence" over her handling of a controversial 400 million euro payout to French business tycoon Bernard Tapie when she was finance minister.
The Telegraph
DECLARE THE SOCIAL MIX OF YOUR STAFF, BRITISH COMPANIES TOLD Alan Milburn, head of the Social Mobility and Child Poverty Commission, condemns the scale of "elitism" at the top of British public life as he calls for companies to engineer a more socially balanced workforce.
Sky News
RYANAIR LAUNCHES 'BUSINESS CLASS' BENEFITS The no-frills carrier sees advantages of offering the business traveller a more flexible experience as part of its new approach.
Fly On The Wall Pre-Market Buzz
ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
Second estimate of Q2 GDP at 8:30--consensus up 4.0%
Jobless claims for week of August 23 at 8:30--consensus 300K
Pending home sales index for July at 10:00--consensus up 0.5% for the month
ANALYST RESEARCH
Upgrades
Cott Corp. (COT) upgraded to Buy from Hold at Stifel
First Horizon (FHN) upgraded to Outperform from Market Perform at Keefe Bruyette
National Bank of Canada (NTIOF) upgraded to Perform from Underperform at Oppenheimer
Randgold Resources (GOLD) upgraded to Neutral from Underweight at HSBC
Downgrades
Brown Forman downgraded to Hold from Buy at Deutsche Bank
GT Advanced (GTAT) downgraded to Underperform from Market Perform at Raymond James
Genuine Parts (GPC) downgraded to Neutral from Buy at SunTrust
InterMune (ITMN) downgraded to Neutral from Buy at UBS
Sungy Mobile (GOMO) downgraded to Perform from Outperform at Oppenheimer
Visa (V) downgraded to Market Perform from Outperform at Raymond James
Williams-Sonoma (WSM) downgraded to Equal Weight from Overweight at Morgan Stanley
Initiations
Advance Auto Parts (AAP) initiated with a Buy at SunTrust
Allstate (ALL) initiated with a Neutral at Compass Point
AutoZone (AZO) initiated with a Neutral at SunTrust
Cooper Tire (CTB) initiated with a Neutral at SunTrust
Farmland Partners (FPI) initiated with an Outperform at FBR Capital
FireEye (FEYE) initiated with a Buy at Stifel
GasLog Partners (GLOP) initiated with an Overweight at Barclays
Goodyear Tire (GT) initiated with a Buy at SunTrust
ITC Holdings (ITC) coverage resumed with an Equal Weight at Barclays
Mercury General (MCY) initiated with a Neutral at Compass Point
Monro Muffler (MNRO) initiated with a Reduce at SunTrust
Monro Muffler (MNRO) initiated with a Reduce at SunTrust
O'Reilly Automotive (ORLY) initiated with a Buy at SunTrust
PGT, Inc. (PGTI) initiated with a Neutral at SunTrust
Safety Insurance (SAFT) initiated with a Buy at Compass Point
WEX Inc. (WEX) initiated with a Hold at Deutsche Bank
Whole Foods (WFM) initiated with a Neutral at Wedbush
COMPANY NEWS
DuPont (DD) to pay $1.28 to resolve toxic gas leak allegations with DOJ, EPA
Deutsche Bank (DB) fined GBP4.7M by FCA for failing to properly report transactions
CME Group (CME) promoted John Pietrowicz to CFO
China Recycling Energy (CREG) chairman said its chairman made additional $18.9M investment in the company
Lear (LEA) signed a definitive agreement to acquire Eagle Ottawa for $850M
Keurig Green Mountain (GMCR) announced the appointment of José Octavio Reyes Lagunes, the retired vice chairman of The Coca-Cola Export Corporation (KO), to its board effective August 25
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Violin Memory (VMEM), Workday (WDAY)
Companies that missed consensus earnings expectations include:
Coty (COTY), Greif (GEF), Exa Corp. (EXA), Sungy Mobile (GOMO), Guess (GES), Bally Technologies (BYI), Gordmans Stores (GMAN)
Companies that matched consensus earnings expectations include:
Williams-Sonoma (WSM), Jiayuan.com (DATE), DHT Holdings (DHT), Casella Waste (CWST), Tilly's (TLYS)
NEWSPAPERS/WEBSITES
Hackers targeted JPMorgan Chase (JPM), 'at least' four other banks, NY Times reports
FBI investigating whether Russia involved with JPMorgan (JPM) hacking, Bloomberg says
GSK (GSK), Shire (SHPG) rumored to be interested in Tekmira (TKMR), Daily Mail says
Samsung (SSNLF) hit by new allegations of child labor in China, FT reports
Samsung (SSNLF), Lenovo (LNVGY) China supplier rejects child labor claims, Reuters says
Judge denies Apple (AAPL) request to block sale of Samsung (SSNLF) devices, AP says
Tiffany (TIF) stock should continue higher, Barron's says
SYNDICATE
Castle Brands (ROX) files $30M mixed securities shelf
Gramercy Property Trust (GPT) files to sell 22.24M shares of common stock
Nordstrom (JWN) files to sell common stock, no amount given
Orient Paper (ONP) raises $2.5M in a registered direct offering
Tiffany (TIF) files automatic mixed securities shelf
data:
GDP
[Report][Star]8:30 AM ET
Jobless Claims
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Corporate Profits
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Pending Home Sales Index
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EIA Natural Gas Report
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Kansas City Fed Manufacturing Index
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3-Month Bill Announcement
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6-Month Bill Announcement
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7-Yr Note Auction
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Farm Prices
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Fed Balance Sheet
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Money Supply
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futures -45
Good morning
yes....everytime I see my SODA mess from December I throw up a little in my mouth...
$FEYE ~ unfortunately....I'm not back in....but still have some shares which I'm now close to even on....
picked $QIHU to mess around with today.....got a few and I'm down...
note to self: need to figure out a max loss $ amount and exit trade on that if it doesn't bounce/work....or use a stop....
Aruba Networks $ARUN upgraded to Buy from Neutral at UBS
Frontrunning:
Islamic State executes soldiers, takes hostages at Syria base (Reuters)
Buffett Burger King Funds Flip Obama’s Inversion Calculus (BBG)
Equities Reach Record $66 Trillion as S&P 500 Hits 2,000 (BBG)
Central Banks Playing Own Version of Plaza-opoly With FX (BBG)
Russia court closes McDonald's branch for 90 days (Reuters)
Finland Says NATO an Option After Russia ‘Violates’ Border Laws (BBG)
Netanyahu Hit With Domestic Criticism Over Gaza Truce (BBG)
Biggest Danish Fund Readies for Rate Shock as Exit Narrows (BBG)
Nonprofit Hospitals' Profits Fall (WSJ)
Snapchat Fetches $10 Billion Valuation (WSJ), a year after it was valued at $800 million
Apple Said to Prepare New 12.9-Inch IPad for Early 2015 (BBG)
Demonstrations resume in Missouri over shooting death of black teen (Reuters)
China Is Awash in Grain Crops (WSJ)
Overnight Media Digest
WSJ
* Israel and Hamas agreed to their first open-ended cease-fire after seven weeks of military confrontation and will resume truce talks in Cairo in the coming days. (http://on.wsj.com/1ldqdZE)
* Burger King Worldwide Inc defended its acquisition of Tim Hortons Inc as the hamburger chain came under criticism for its effort, backed by billionaire investor Warren Buffett, to move the quintessential American brand to Canada. (http://on.wsj.com/1ASHDyp)
* Kleiner Perkins Caufield & Byers agreed to invest in Snapchat at a valuation of close to $10 billion, making it one of the world's most valuable private tech start-ups.(http://on.wsj.com/1qKk2J9)
Big Tobacco is finally making its big push into electronic cigarettes. Altria Group Inc and Reynolds American Inc together have captured about a quarter of convenience-store sales just weeks into national rollouts of the battery-powered devices. In a surprising development, though, e-cigarette sales are falling at these traditional retail outlets, reversing three years of rapid-fire growth. (http://on.wsj.com/XQZ04P)
* American Airlines Group Inc has withdrawn its flights from consumer websites powered by Orbitz Worldwide Inc, following a similar dispute between the airline and the travel website about three years ago. (http://on.wsj.com/1ASIgbc)
* The U.S. Securities and Exchange Commission is expected to complete rules Wednesday that would require banks and other firms to provide investors with more details about loans pooled into bonds known as asset-backed securities. (http://on.wsj.com/1pfnn7m)
* Islamic State insurgents have planted explosives to stall a Kurdish push to retake the town of Jalawla, an unfolding strategy that foes describe as built on patience, the element of surprise and a willingness to take losses. (http://on.wsj.com/1wzYEib)
* A meeting between the Russian and Ukrainian presidents failed to produce a breakthrough for ending the conflict over eastern Ukraine, as Kiev released videos of captured Russian soldiers and rebels pushed toward a government-held city. (http://on.wsj.com/1zBS7ji)
* Singapore's Oversea-Chinese Banking Corp and its insurance unit have entered exclusive talks to sell their stakes in property and engineering company United Engineers Ltd to Thai billionaire Charoen Sirivadhanabhakdi. (http://on.wsj.com/1qsXYGl)
FT
The United States is preparing military options, including surveillance flights, to pressure Islamic State in Syria, U.S. officials said on Monday.
Europe's leaders are set to select Federica Mogherini, Italy's foreign minister, as EU foreign policy chief at a summit on Saturday, despite worries among some EU countries that she is too inexperienced and will not be tough enough on Russia.
Warren Buffett defended his role in Burger King's $11.4 billion acquisition of coffee and doughnuts chain Tim Hortons, that will see the U.S. fast food chain's headquarters move to Canada as part of the tax inversion deal.
The United Kingdom's Financial Conduct Authority could fine Royal Bank of Scotland about 15 million pounds ($24.82 million) over its mortgage record-keeping and advice to borrowers, according to two people familiar with the matter.
WPP, the world's largest advertising company, said the strong British pound "ravaged" its revenues, wiping more than 400 million pounds $661.72 million) off its net sales in the first half of the year.
NYT
* As Detroit prepares to defend its plan next week to exit bankruptcy, city leaders have received an unusual offer: Why not mortgage all the Van Goghs, Picassos and other works in the Detroit Institute of Arts? A company called Art Capital, which makes loans backed by artwork, has told the city it is willing to lend it up to $3 billion, roughly 10 times the exit financing Detroit is now contemplating, using the museum's art as collateral. But the city's response is silence. (http://nyti.ms/1tBtQtM)
* Allergan Inc, the Botox maker fending off a hostile takeover attempt by Valeant Pharmaceuticals International Inc and Pershing Square Capital Management, has set a date for a special meeting at which shareholders will have the opportunity to vote out a majority of the board. In a filing with the Delaware Chancery Court, Allergan said the meeting would take place on Dec. 18. (http://nyti.ms/1ryIcfQ)
* Google Inc announced Tuesday that it bought Boston-based Zync Inc, the maker of Zync Render, a "cloud-based rendering software." Google wouldn't say how much it paid for Zync. The company will integrate Zync's data and technology into the Google Cloud Platform, and move off Amazon.com Inc Web Services. (http://nyti.ms/1syGo2c)
* A cross-border fast-food deal has united Warren Buffett with one of his favorite investors. Buffett's conglomerate, Berkshire Hathaway, is helping finance Burger King Worldwide Inc's $11.4 billion takeover of the Canadian restaurant chain Tim Hortons Inc by buying $3 billion of preferred shares in the new company. (http://nyti.ms/XQVDee)
* Time Warner Inc's Turner Broadcasting System division said on Tuesday that it was offering buyouts to about 600 employees, the first step in an ambitious effort to overhaul a portfolio of cable networks that have struggled with declining ratings at a time of intense competition for viewers. Layoffs and additional cost-cutting measures will follow, according to an internal memo announcing the buyouts. (http://nyti.ms/YWQEsE)
* Volvo AB on Tuesday introduced its first vehicle designed and built under Chinese ownership. The vehicle, a seven-seat sport utility vehicle known as the XC90 that will go on sale in April, is probably a make-or-break model for Volvo. (http://nyti.ms/1qKeyxX)
* Michael Lucarelli, the director of market intelligence at Lippert/Heilshorn and Associates, was arrested and charged with 13 counts of insider trading for buying and selling stocks based on information in news releases his company had prepared for its clients, the Federal Bureau of Investigation and Preet Bharara, the United States attorney in Manhattan, said in a statement. (http://nyti.ms/1zBUTVN)
* The Swiss private bank Pictet Group reported its financial results publicly for the first time in its 209-year history on Tuesday, showing a profit and highlighting continuing changes in Switzerland's traditionally secretive banking culture. (http://nyti.ms/1tEZy8F)
* Governments should ban the use of electronic cigarettes in public places and outlaw tactics to lure young users, the World Health Organization said in a report released on Tuesday that calls for some of the toughest measures yet proposed for the increasingly popular devices. It also expressed "grave concern" about the growing role of the powerful tobacco industry in the e-cigarette market. (http://nyti.ms/1qsW1tG)
Canada
THE GLOBE AND MAIL
** Barrick Gold Corp is eliminating its entire corporate development team and more cuts are in the works as the world's top gold miner looks to trim costs, three sources familiar with the situation said on Tuesday. (http://bit.ly/1zDcYml)
** Canada's public health agency is preparing to bring home a trio of scientists who were helping to combat Ebola in Sierra Leone after three people in their hotel complex tested positive for the viral hemorrhagic fever. A Health Canada spokesman confirmed late Tuesday night that the Public Health Agency of Canada is finalizing plans to pull its mobile laboratory team out of the West African country. (http://bit.ly/1tCil5r)
NATIONAL POST
** Cominar Real Estate Investment Trust has signed a deal to buy a portfolio of 15 properties including shopping centres, office buildings and an industrial park in Quebec and Ontario from Ivanhoe Cambridge Inc for C$1.53 billion ($1.40 billion). (http://bit.ly/1qgvNtt)
** Hewlett-Packard Co is recalling more than 6 million personal-computer power cords in the United States and Canada, citing reports of overheating and melting units. The cords, distributed with Hewlett-Packard and Compaq notebooks and related products, were sold from September 2010 to June 2012, the company and U.S. Consumer Product Safety Commission said in a statement on Tuesday. (http://bit.ly/1p84Gg4)
** The Canadian Human Rights Tribunal has ordered Human Resources and Skills Development Canada to reimburse former employee Leslie Hicks nearly C$17,000 ($15,606) in expenses after ruling last year the department had engaged in "reckless discrimination" against him. (http://bit.ly/1tCcRHF)
** Drivers in Ontario could soon face much stiffer penalties for texting behind the wheel, as the governing Liberals are set to reintroduce a bill that would boost the maximum fine to C$1,000 ($918). (http://bit.ly/1zD3RSL)
Hong Kong
- The president of China Resources Power (CRP) and a Shanxi tycoon, believed to be the biggest beneficiary of a controversial coal investment, have been detained by authorities. CRP said its executive director Wang Yujun was under investigation in Jiangsu province, while sources revealed that Zhang Xinming, once the richest man in Shanxi, had been detained earlier this month. (bit.ly/1wzmdaR)
- Fashion retailer Fujian Nuoqi should have disclosed more information on its two failures to list on the mainland before floating its shares in Hong Kong, and CCB International, the sole sponsor of the share sale, may possibly be disciplined, analysts said. Nuoqi, which listed in Hong Kong in January, reported to police in July that its chairman was missing. (bit.ly/1tSzh5V)
- Homebuyers are increasingly seeking to finance their purchases with loans based on the lower interest rates in the Hong Kong interbank offered rate market. The percentage of mortgage applicants opting for loans priced with reference to Hibor rose from 42 percent in January to 77 percent in June, Hong Kong Monetary Authority data shows. (bit.ly/VMCAAa)
THE STANDARD
- Hopewell Holdings declared a special dividend distribution of one share of Hopewell Highway Infrastructure for every 20 shares of the developer, hoping to boost HHI's market liquidity and shareholder base. (bit.ly/YWM5i7)
- The Urban Renewal Authority's Kwun Tong redevelopment project received six tenders, including Henderson Land , Sun Hung Kai Properties, Wheelock and Great Eagle. It is believed to involve a total investment of HK$18 billion ($2.3 billion). (bit.ly/1luUVhl)
HONG KONG ECONOMIC JOURNAL
- Internet game developer Forgame Holdings Ltd said its net loss narrowed to 2.14 million yuan for the first half of 2014, from a 233 million yuan loss in the year-ago period.
HONG KONG ECONOMIC TIMES
- China Securities Regulatory Commission has approved Shenzhen Stock Exchange's plan to conduct a feasibility study in relation to a trading connection with the Hong Kong stock exchange, according to a Shenzhen municipality official.
MING PAO DAILY NEWS
- Department store operator Golden Eagle Retail Group Ltd , which is under pressure due to keen competition from e-commerce sites, is not in a hurry to develop its own e-commerce business as the company has still not seen a proven profit-making business model so far, according to chairman Roger Wang.
Britain
The Times
FRAUD OFFICE ATTACKS FLAWED CRIME REPORTS
The Serious Fraud Office has criticised the recruitment of independent experts to investigate criminal behaviour in companies, warning that the practice risks destroying the evidence needed to put rogue business people and bankers behind bars.
HOUSE PRICES EXPECTED TO RISE BY MORE THAN 25 PCT IN FIVE YEARS
House prices in Britain will be more than 25 percent higher in five years, with London finally being overtaken by other parts of the country.
The Guardian
CAMERON FACES DOUBLE 2015 TROUBLE
UKIP leader Nigel Farage and London Mayor Boris Johnson take steps toward Westminster, causing political headaches for Tory leaders.
SCOTTISH YES VOTE AND BRITISH EU EXIT COULD HIT UK ECONOMY, SAYS SORRELL
WPP boss Sir Martin Sorrell has warned that the prospect of Scotland voting for independence and Britain leaving the European Union could weaken the UK economy, adding to worries over heightened geopolitical tensions in Ukraine and the Middle East.
The Telegraph
GORDON BROWN AND ALISTAIR DARLING PUT ASIDE DIFFERENCES IN FIGHT FOR UK The former Prime Minister and his former chancellor are to share a platform for the first time in the independence referendum debate following Alex Salmond's damaging TV debate victory.
SCOTTISH INDEPENDENCE VOTE COULD PROMPT PENSIONS CRISIS If Scotland votes "yes" this September, EU pension rules could threaten the cash flow of the UK's largest companies, warns JPMorgan.
Sky News
RBS HIT BY 15 MLN STG FCA MORTGAGE ADVICE FINE
Royal Bank of Scotland will on Wednesday add to the list of misconduct for which it has been fined since it was bailed out by British taxpayers when it pays millions of pounds for giving poor advice to mortgage customers.
CALL FOR E-CIGARETTES TO BE BANNED INDOORS The World Health Organisation wants tougher regulation, including a ban on selling to minors and on vending machines in public.
Fly On The Wall Pre-market Buzz
ECONOMIC REPORTS
Domestic economic reports today include:
MBA purchase applications for week of Aug. 22--up 2.8%
ANALYST RESEARCH
Upgrades
Aruba Networks (ARUN) upgraded to Buy from Neutral at UBS
Hilltop Holdings (HTH) upgraded to Outperform from Market Perform at Keefe Bruyette
Rent-A-Center (RCII) upgraded to Buy from Hold at Canaccord
Tim Hortons (THI) upgraded to Neutral from Underperform at Credit Suisse
Waste Management (WM) upgraded to Buy from Hold at Stifel
Downgrades
Bank of Nova Scotia (BNS) downgraded to Neutral from Outperform at Credit Suisse
E-House (EJ) downgraded to Neutral from Buy at Goldman
Facebook (FB) downgraded to Neutral from Buy at Janney Capital
Laredo Petroleum (LPI) downgraded to Hold from Buy at Canaccord
Leju (LEJU) downgraded to Neutral from Buy at Goldman
Pioneer Natural (PXD) downgraded to Hold from Buy at Canaccord
Sturm, Ruger (RGR) downgraded to Fair Value from Buy at CRT Capital
Susser Petroleum downgraded to Market Perform from Outperform at Wells Fargo
Tim Hortons (THI) downgraded to Sector Performer from Outperformer at CIBC
Initiations
ASML (ASML) initiated with a Hold at Stifel
Akamai (AKAM)initiated with an Outperform at RW Baird
Alcobra (ADHD) initiated with a Market Perform at FBR Capital
Axcelis (ACLS) initiated with a Buy at Stifel
Bank of the Ozarks (OZRK) initiated with a Buy at Drexel Hamilton
Bristol-Myers (BMY) initiated with a Hold at Deutsche Bank
Concur (CNQR) initiated with a Neutral at DA Davidson
Cornerstone OnDemand (CSOD) initiated with a Neutral at DA Davidson
CyrusOne (CONE) initiated with a Neutral at Citigroup
Eli Lilly (LLY) initiated with a Buy at Deutsche Bank
FCB Financial (FCB) initiated with a Neutral at Guggenheim
First Financial (FFIN) initiated with a Hold at Drexel Hamilton
Garmin (GRMN) initiated with a Neutral at RW Baird
Marketo (MKTO) initiated with a Buy at DA Davidson
Merck (MRK) initiated with a Hold at Deutsche Bank
NetSuite (N) initiated with a Buy at DA Davidson
Oracle (ORCL) initiated with a Neutral at DA Davidson
Oxford Industries (OXM) initiated with a Buy at Wunderlich
Pfizer (PFE) initiated with a Buy at Deutsche Bank
ServiceNow (NOW) initiated with a Buy at DA Davidson
Southside Bancshares (SBSI) initiated with a Hold at Drexel Hamilton
Workday (WDAY) initiated with a Neutral at DA Davidson
COMPANY NEWS
Allergan (AGN) requests block to Ackman, Valeant (VRX) votes, announces Special Meeting date of December 18
Royal Bank of Scotland (RBS), NatWest fined GBP14.47M by FCA
Mario Gabelli told CNBC that Chemtura (CHMT) has limited downside, can double in next five years; Gabelli also said he thinks Diebold (DBD) is "in the beginning of a major turnaround"
Aruba Networks (ARUN) announced a 3.7% workforce reduction
Cooper Tire (CTB) said Chengshan JV valued at around $440M
CFTC ordered Merrill Lynch (BAC) to pay $1.2M fine for supervision failures
Lakes Entertainment (LACO) engaged financial advisor to explore strategic alternatives
Chiquita Brands (CQB), Fyffes now see $60M of annualized pre-tax cost savings
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Donaldson (DCI), Seadrill (SDRL), Globe Specialty Metals (GSM), HEICO (HEI), Dycom (DY), TiVo (TIVO), TubeMogul (tube), Smith & Wesson (SWHC), Nimble Storage (NMBL), Aruba Networks (ARUN)
Companies that missed consensus earnings expectations include:
SQM (SQM), Solera (SLH)
Companies that matched consensus earnings expectations include:
Bob Evans (BOBE), Analog Devices (ADI)
NEWSPAPERS/WEBSITES
Apple (AAPL) readying larger iPad for 2015 launch, Bloomberg reports
Shell-led (RDS.A) group close to selling Nigeria oilfields for $5B, FT reports (TOT, E)
AT&T's (T) Ralph de la Vega to oversee enterprise and mobile, Re/code reports
Apple (AAPL) may introduce a thinner MacBook as early as this year, Digitimes says
Intel (INTC) working on luxury smart bracelet with curved glass display, Business Insider reports
Amazon (AMZN) steps point to digital health entry, VentureBeat says
Repsol (REPYY), Talisman (TLM) talks on oil and natural gas assets stall, WSJ reports
Time Warner Cable (TWC) customers reporting outages nationwide, Business Insider reports
SYNDICATE
Air Industries (AIRI) files $12.14M mixed securities shelf
Ardmore Shipping (ASC) files $300M mixed securities shelf
BNC Bancorp (BNCN) files $150M mixed securities shelf
Carver Bancorp (CARV) requests withdrawal of registration statement
Compugen (CGEN) files $200M mixed securities shelf
Gabelli Equity Trust announces rights offering
Quest Resource Holding (QRHC) files $50M mixed securities shelf
Average:
0
Pre Market Movers
Top Gaining Stocks
Price %Change
TUBE Tubemogul Inc 12.82 39.05%
ISNS Image Sensing Sys... 4.39 29.12%
MIK Michaels Companie... 16.70 10.30%
VII Vicon Industries ... 4.95 9.51%
EXPR Express 15.92 9.12%
ARUN Aruba Networks In... 22.06 8.99%
DCI Donaldson Co. Inc... 43.00 5.68%
YOKU Youku Tudou 20.01 5.15%
UNIS Unilife Corporati... 2.50 5.04%
PKT Procera Networks ... 10.79 4.96%
MNKD Mannkind Corporat... 7.64 4.09%
ACHN Achillion Pharmac... 12.19 3.74%
PT Portugal Telecom ... 2.07 3.50%
NMBL Nimble Storage In... 30.50 3.11%
GALE Galena Biopharma ... 2.41 2.99%
KNDI Kandi Technologie... 19.65 2.93%
BWS Brown Shoe Co. In... 32.15 2.49%
HTH Hilltop Holdings ... 21.33 2.30%
PLUG Plug Power Inc. 5.88 2.26%
FEYE Fireeye Inc 29.55 2.21%
Top Losing Stocks
Price %Change
SWHC Smith & Wesson Ho... 11.70 -10.69%
BRCM Broadcom Corp. 35.31 -8.74%
RGR Sturm Ruger & Co.... 48.11 -5.72%
YGE Yingli Green Ener... 3.36 -5.62%
SDRL Seadrill Ltd. 35.65 -5.36%
LEJU Leju Holdings Ltd... 17.10 -5.00%
TLM Talisman Energy I... 10.33 -3.37%
CHS Chicos Fas Inc. 15.58 -2.75%
USU Usec Inc. 5.10 -2.67%
MHG Marine Harvest As... 13.61 -2.65%
CNTY Century Casinos I... 5.20 -2.26%
SHLD Sears Holdings Co... 33.90 -2.22%
MPAA Motorcar Parts o... 27.30 -1.94%
NOK Nokia Corp. Ads 8.12 -1.22%
HGSH China Hgs Real Es... 8.40 -1.18%
PKX Posco Ads 83.40 -1.14%
GPRO Gopro Inc. 44.88 -0.91%
RIG Transocean 38.18 -0.88%
EJ E-house China Hol... 12.00 -0.83%
FXI ishares Ftse/xinh... 41.00 -0.75%
Read more at http://thestockmarketwatch.com/markets/pre-market/#43HQ0g3tOvbj3chG.99
data:
MBA Purchase Applications
[Bullet7:00 AM ET
EIA Petroleum Status Report
[djStar]10:30 AM ET
2-Yr FRN Auction
[Bullet11:30 AM ET
5-Yr Note Auction
[Bullet1:00 PM ET
futures +11
was a nice summer with the kids....haven't traded much since April....
I would never use Denny Crane!!
$ARUN ~ up +2 on nice e/r
updated ibox and had to log my 15 week nap!!!
my trade on monday was QIHU and I let a +$2 gain go back to even...
but did much better yesterday....
yikes....!!!
good morning bob...
did somebody say sleep? just woke up from my 15 week nap!!!
hope all is well!
hi bc....hope all is well....market hitting all time highs....and I see that keeps your stalker away!
who was that masked woman......
zipping through ihub....
good morning girlfriend!!
thank you....wish I'd took the 29's....
will play it again....