is trading.....maybe!!
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data:
ICSC-Goldman Store Sales
[Bullet7:45 AM ET
Durable Goods Orders
[Report][Star]8:30 AM ET
Redbook
[Bullet8:55 AM ET
FHFA House Price Index
[Report][Bullet9:00 AM ET
S&P Case-Shiller HPI
[Report][djStar]9:00 AM ET
Consumer Confidence
[Report][djStar]10:00 AM ET
Richmond Fed Manufacturing Index
[Report][Bullet10:00 AM ET
State Street Investor Confidence Index
[Bullet10:00 AM ET
4-Week Bill Auction
[Bullet11:30 AM ET
2-Yr Note Auction
[Bullet1:00 PM ET
Pre Market Movers
Top Gaining Stocks
Price %Change
KITE Kite Pharma Inc 27.35 22.65%
DSW Dsw A 32.00 12.80%
MNOV Medicinova Inc 2.33 12.02%
KNDI Kandi Technologie... 19.80 8.37%
DGLY Digital Ally Inc.... 13.46 7.68%
RMTI Rockwell Medical ... 10.00 7.41%
ACHN Achillion Pharmac... 11.40 5.75%
THI Tim Hortons 79.00 5.73%
CURE Direxion Daily He... 105.57 4.96%
SPCB Supercom Ltd 11.88 4.95%
ISIS Isis Pharmaceutic... 37.75 4.51%
MOBL Mobileiron Inc 11.00 3.97%
NUGT Direxion Daily Go... 42.45 3.92%
KGC Kinross Gold Corp... 4.02 3.88%
JNUG Direxion Daily Jr... 22.70 3.84%
ICPT Intercept Pharmac... 304.99 3.54%
EXK Endeavour Silver ... 5.46 3.41%
MT Arcelormittal 14.48 3.28%
MBLY Mobileye NV Amste... 39.35 3.04%
BKW Burger King World... 33.34 2.90%
Top Losing Stocks
Price %Change
KANG ikang Healthcare ... 19.73 -12.89%
SAFM Sanderson Farms I... 88.44 -7.02%
TSL Trina Solar Ltd. ... 12.47 -6.73%
BBY Best Buy Co. Inc.... 30.50 -4.66%
JDST Direxion Daily Jr... 11.27 -3.92%
PSEC Prospect Capital ... 10.71 -2.46%
RUSL Direxion Daily Ru... 16.85 -2.38%
MGM Mgm Resorts Inter... 24.30 -2.37%
LYG Lloyds Banking Gr... 5.11 -1.92%
PUK Prudential Plc Ad... 47.84 -1.85%
ARCO Arcos Dorados Hol... 7.07 -1.81%
RIO Rio Tinto Plc Ads... 55.38 -1.81%
JKS Jinkosolar Holdin... 28.60 -1.79%
RBS Royal Bank of Sco... 11.94 -1.16%
SIRI Sirius XM Radio I... 3.55 -1.11%
QIHU Qihoo 360 Technol... 92.90 -1.03%
LB L Brands Inc 63.25 -0.94%
JRJC China Finance Onl... 10.05 -0.89%
ALV Autoliv Inc. 102.47 -0.88%
RSX Market Vectors\u0... 25.18 -0.87%
Read more at http://thestockmarketwatch.com/markets/pre-market/#FXcVRRtf6xPC59kJ.99
futures +25
good morning
7 a.m. here....back in a bit....
good morning to you my good friend!
did most of our back-to-school shopping on line...
using Walmart's savings catcher for additional $$ savings....really neat program...
Frontrunning:
Jackson Hole Theme: Labor Markets Can’t Take Higher Rates (BBG), or anything else for that matter
Kidnappers free American missing in Syria since 2012 (Reuters)
More unpatriots: Burger King in merger talks with Canada's Tim Hortons (Reuters)
California Quake to Cost Insurers Up to $1 Billion, Eqecat Says (BBG)
Congo declares Ebola outbreak in northern Equateur province (Reuters)
Missouri Governor Defends Ferguson Prosecutor (BBG)
Kuroda Douses Japan Stimulus Expectations (WSJ)
London Jihadi Call Vies With Banks in Canary Wharf Shadow (BBG)
Netanyahu Signals Expansion of Air Attacks in Gaza (WSJ)
Libya's Islamist Militias Claim Control of Tripoli (WSJ)
Iceland Monitors Tremors After Retracting Eruption Alert (BBG)
Dutch Rage Over MH17 Strengthens Rutte in Putin Standoff (BBG)
Roche to Acquire InterMune for $8.3 Billion (WSJ)
McDonald's Faces 'Millennial' Challenge (BBG)
Syria says ready to cooperate in anti-terror fight (Reuters)
Overnight Media Digest
WSJ
* Burger King is in talks to buy Canadian coffee-and-doughnut chain Tim Hortons Inc, a deal that would be structured as a so-called tax inversion and move the hamburger seller's base to Canada. (http://on.wsj.com/1pvlPWa)
* The extremist group Islamic State captured a major air base in northeastern Syria, marking another strategic gain and an end to any presence of Syrian regime forces in the province of Raqqa. (http://on.wsj.com/1t5lZWN)
* Roche Holding AG agreed to buy biotech company InterMune Inc for $8.3 billion in cash, the biggest acquisition in years for the Swiss pharmaceutical giant. (http://on.wsj.com/1tuYCEB)
* Federal Reserve officials are signaling they are on track to start slowly raising interest rates next year, a shift that means a delicate balancing act for investors.(http://on.wsj.com/1vdlKcK)
* Valeant Pharmaceuticals International Inc and William Ackman are seeking a judge's help to speed up their $53 billion hostile takeover bid for Allergan Inc in hopes of overturning the Botox maker's board before the company can strike a deal of its own. (http://on.wsj.com/XKZMAn)
* Best-selling novel "The Goldfinch" is giving Hachette Book Group a much-needed boost this summer as the publisher weathers the fallout from a lengthy e-book contract dispute with Amazon.com Inc. (http://on.wsj.com/1vdmvmk)
* Goldman Sachs Group Inc is likely to bestow its prestigious partner designation, which often comes with millions of dollars in annual pay, on no more than 70 employees, the Wall Street Journal reported, citing people familiar with the matter.(http://on.wsj.com/1qEPfxb)
* General Motors Co is considering whether to delay the expansion of its Russian plant near St. Petersburg amid lackluster sales and weakening consumer sentiment.(http://on.wsj.com/1ru8srT)
* Private-equity firm Oak Hill Capital Partners reached a deal over the weekend to acquire Berlin Packaging LLC for $1.43 billion including debt, said people familiar with the matter.(http://on.wsj.com/1smGaeK)
* President Obama faces pressure at home and in the Middle East to quickly step up strikes at Islamic State militants, but also reluctance from some within his own party and European allies to do so.(http://on.wsj.com/1qeHoKj)
* Engine Capital LP, which along with a partner controls more than 1 percent of ANN Inc stock, believes a strategic or private-equity buyer would be willing to pay between $50 and $55 a share for the women's retailer, 47 percent above Friday's closing price of $37.52 at the high end, according to people familiar with the matter.(http://on.wsj.com/YSWew3)
NYT
* Companies like Box Inc <IPO-BOX.N>, Dropbox and Hightail pioneered a new kind of internet service that allows people and companies to store all kinds of electronic files in an easy-to-use online locker. But as often happens, the much bigger companies like Amazon.com Inc and Google Inc liked the idea so much they decided to do the same thing, at a much lower price. To tackle the price issue, Box is trying to cater to special data storage needs, Hightail is trying to do something similar for customers like law firms, and Dropbox is trying to make sure that its consumer-minded service stays easier to use than what the big guys provide. (http://nyti.ms/1tJr3g8)
* Burger King Worldwide Inc may be home of the Whopper. But the fast-food chain may soon start calling Canada its new corporate residence. The restaurant operator said on Sunday that it is in talks to buy Tim Hortons Inc, the Canadian donut-and-coffee chain, in a potential deal that would create one of the world's biggest fast-food chains. (http://nyti.ms/1qEV2D7)
* The Swiss drug maker Roche Holding AG agreed on Sunday to buy InterMune Inc, which sells a drug to treat a deadly lung disease, for $8.3 billion, as pharmaceutical companies continue to seek new products to bolster their offerings. (nyti.ms/1zpCn2L)
* Goldman Sachs Group Inc is paying its largest bill yet to resolve a government lawsuit related to the financial crisis. The bank said on Friday that it had agreed to buy back $3.15 billion in mortgage bonds from Federal Home Loan Mortgage Corp and Federal National Mortgage Association to end a lawsuit filed in 2011 by the Federal Housing Finance Agency, the federal regulator that oversees the two mortgage companies. The agency estimates that Goldman is paying $1.2 billion more than the bonds are now worth. (http://nyti.ms/VK6epu)
* Richard Handler, the chief executive of the Leucadia National Corp, will join the board of a new hedge fund company, Folger Hill Asset Management LLC, run by a former executive of SAC Capital Advisors, according to a regulatory filing on Friday. (http://nyti.ms/VNnGt6)
* Vogue is expected to unveil a new website on Wednesday, its latest attempt to reflect the magazine's ethos online. Both the editor-in-chief, Anna Wintour, and the creative director for digital, Sally Singer, acknowledge that Vogue's site has yet to fulfill its potential and hope that this revamping represents a deeper change in what it offers web and mobile readers. (http://nyti.ms/1mFXDvr)
* The German government has approved the sale of the utility RWE AG's oil and natural gas subsidiary, RWE Dea, to a team of Russian investors, the company confirmed on Friday. (http://nyti.ms/1pWPbfZ)
* The City of Chicago and two California counties are challenging the drug industry's way of doing business, contending in two separate lawsuits that "aggressive marketing" by five companies has fueled an epidemic of addiction and cost taxpayers millions of dollars in insurance claims and other health care costs. The lawsuits assert that drug makers urged doctors to prescribe the drugs far beyond their traditional use to treat extreme conditions, such as acute pain after surgery or injury or cancer pain, while underplaying the high risk of addiction. (http://nyti.ms/1zpJdFs)
* Medicare, which has been assigning hotel-style ratings to nearly every nursing home in the country for the last five years, has assigned a five-star rating to Rosewood Post-Acute Rehab, a nursing home in this Sacramento suburb. But an examination of the rating system by The New York Times has found that Rosewood and many other top-ranked nursing homes have been given a seal of approval that is based on incomplete information and that can seriously mislead consumers, investors and others about conditions at the homes. (http://nyti.ms/1zpP8dw)
* Now Motif Investing, a new online broker backed by JPMorgan Chase & Co, has started a product that lets investors buy stock in 25 companies viewed as potential inversion targets. (http://nyti.ms/1smRlnD)
Canada
THE GLOBE AND MAIL
** The Toronto Port Authority has won a key early showdown with the city on the controversial issue of expanding the island airport to allow jets. City staff are participating in an environmental assessment for the expansion without the port authority having signed off on limits on the numbers of passengers and aircraft. This comes only months after Toronto's deputy city manager warned that agreement on that issue was "essential for moving forward." (http://bit.ly/1mH1acQ)
** Colder summer weather across Ontario has put pressure on tourism-dependent businesses that rely on July and August to generate the bulk of their profits. The bad weather has also had an impact on the boating industry in Ontario and the marinas and gas bars that support them. (http://bit.ly/1tvz6io)
Reports in the business section:
** Bank of Canada Governor Stephen Poloz wants to make something perfectly clear: When the Federal Reserve starts raising interest rates, Canada's central bank won't necessarily follow immediately. "The main thing people should understand is that our policy is quite capable of being fully independent, as it has been these past few years," Poloz said in an interview at the annual gathering of central bankers and economists at Jackson Hole, Wyoming, over the weekend. (http://bit.ly/1nsPieJ)
NATIONAL POST
** Prime Minister Stephen Harper is "on the wrong side of history" in his refusal to launch a public inquiry to study the high number of missing and murdered aboriginal women, federal Liberal Leader Justin Trudeau said on Saturday. Trudeau was in Moncton, New Brunswick, where he said the recent case of Tina Fontaine, a 15-year-old aboriginal girl found dead in Winnipeg, highlights the need to begin an inquiry. Harper said earlier this week that Fontaine's death was a crime and should not be viewed as a "sociological phenomenon." (http://bit.ly/1p7LVPG)
** Seeking to profit from Canada's new medical marijuana regulations - which put the production and sale of high-grade weed into the hands of corporations and penny-stock outfits - promoters are turning to former police chiefs and prominent politicians to help sell their products and attract mom and pop investors. (http://bit.ly/1AMkLk1)
FINANCIAL POST
** Tim Hortons Inc's coffee could soon be the property of Burger King Worldwide Inc, with the two companies confirming late Sunday night that they are in discussions for the U.S. burger chain to buy Canada's coffee and donut chain. The big draw for Burger King, according to a report from the Wall Street Journal, is the potential for tax inversion - effectively relocating the company's home base to Canada to take advantage of the country's comparatively lower tax base. (http://bit.ly/XLryg9)
** Eugene Melnyk, the billionaire owner of the Ottawa Senators and founder of drugmaker Biovail Corp, is waging war against the company that now controls his one-time business. Melnyk alleges that Valeant Pharmaceuticals International Inc is masquerading as a Canadian company to make use of this country's international fiscal treaties and dodge U.S. taxes. He predicts it will all eventually implode if American authorities claw back the taxes he believes Valeant may owe. (http://bit.ly/1t5LLKi)
Hong Kong
SOUTH CHINA MORNING POST
-- The National People's Congress Standing Committee kicks off a week-long meeting on Monday that will play a decisive role over whether Hong Kong will elect its new leader by one person, one vote for the first time in 2017. (bit.ly/1tJ6JM2)
-- The $6.3 million lawsuit filed by Deutsche Bank against Industrial and Commercial Bank of China (ICBC) executive Zhang Hongli will hurt the German lender's long-term relationship with the mainland bank, people who worked at Deutsche Bank at the same time as Zhang said. (bit.ly/1ok7FBV)
-- Outdoor advertising firm Clear Media is looking to aggressively acquire advertising locations as the rates for bus-shelter panels on the mainland drop and small advertising firms go out of business in the economic slowdown. (bit.ly/1smc8Yp)
THE STANDARD
-- MTR operations director Jacob Kam Chak-pui should not have apologized for the killing of a stray dog on the tracks before the investigation has been completed, the staff union says. The corporation does not have guidelines on how to handle animals on the track, a union spokesman said. (bit.ly/1qEvCpd)
-- Five volunteers of Macau's unofficial referendum on electoral reform, including one of its organizers, were held by police for hours after the activists ignored strong objections from Beijing. (bit.ly/1qdTxiA)
-- Sound Global expects further profit growth from its wastewater treatment business in small towns, after posting a net profit of 239 million yuan ($39 million) in the first half, up 38.2 percent from the previous year. (bit.ly/1qaD7Xw)
HONG KONG ECONOMIC JOURNAL
-- Tianhe Chemicals Group Ltd saw its first-half net profit surging 45 percent year on year to 1.48 billion yuan ($240.6 million) and said it would continue to expand production capacity on the mainland.
HONG KONG ECONOMIC TIMES
-- Jiangsu Expressway Co Ltd said its first-half net profit fell 6.36 percent from the same period a year ago to 1.34 billion yuan ($217.85 million) while revenue rose 7.04 percent at 3.93 billion yuan.
-- BYD Co Ltd , which posted a 16 percent year on year decline in first-half net profit, warned that it net profit for the January to September period may fall by 11 to 22 percent due to shrinking market share of China's local brands and persistent losses in its solar business.
MING PAO DAILY NEWS
-- ENN Energy Holdings Ltd said it had entered into a strategic cooperation framework agreement with Sinopec's unit Sinopec Sales Co Ltd to strengthen ties in procurement and transportation of natural gas.
Britain
THE SUNDAY TIMES
BG PRIMED TO SELL TANZANIA GAS FIELD STAKE
Oil giant BG Group has quietly begun looking for a buyer for part of its prized Tanzanian operation. It is understood the company wants to sell its entire 60 percent stake in an exploration area in Tanzania known as Block 3, while holding on to Blocks 1 and 4.
BALFOUR POLISHES HIDDEN JEWELS TO SOOTHE CITY
Balfour Beatty is to embark on a City charm offensive to appease disgruntled investors - including a hike in the value of its book of infrastructure investments - after the collapse of merger talks with smaller rival Carillion.
Balfour is expected this week to pump up the value of its book of private finance initiative contracts from 766 million pounds to more than 1 billion pounds.
HAMBRO TO BARTER GOLD FOR BAILOUT
Mining veteran Peter Hambro is in talks over a bailout that would hand over future gold production to a Chinese state bank in exchange for an immediate cash injection.
Petropavlovsk, which Hambro founded in 1994, has been caught out by an ill-timed decision to take on more than $1 billion in debt to expand its eastern Siberian gold mines just as the price of the precious metal slumped.
HEDGE FUND BACKS MAN U
One of London's top hedge funds has emerged as owner of most of the Manchester United shares recently sold by the football club's owners, the Glazer family. Lansdowne Partners is understood to have bought about 3 percent of the 5 percent sold by the Glazers last month.
MINISTERS SEIZE CONTROLS AT NETWORK RAIL
Ministers are to tighten their grip on Network Rail, the operator of Britain's railway network, with a package of sweeping reforms, including new powers to hire and fire its chairman and board.
The changes will be put this week to a special meeting of Network Rail's "members", 43 people who take the place of shareholders.
CENSURED MORTGAGE FIRM PLOTS STOCK MARKET LISTING
A specialist mortgage lender whose founder was censured by the City watchdog for "serious" failings two years ago is considering a stock market float.
Jerrold Holdings, which offers first and second charge home loans under the brands Blemain Finance, Cheshire Mortgage Corporation and Lancashire Mortgage Corporation, is considering a float or partial sale next year to provide an exit for one of its backers.
It has yet to appoint investment bankers, although it has a close relationship with Rothschild.
CHINA WANTS TO BUILD NUCLEAR PLANT IN ESSEX
China's nuclear power giants are in early talks about building an atomic reactor on the Essex coast at Bradwell.
The site, home to a partly decommissioned Magnox power plant, has emerged as the favourite for a new Chinese-built and designed plant, industry sources said.
TATA AND GM JOIN BUSINESS RATES REVOLT
Two of the nation's biggest industrial investors have called for reform of business rates, which contribute 22 billion pounds to the Treasury every year but are blamed for harming high streets.
General Motors, which makes Vauxhall Cars, and Tata Steel, which owns Jaguar Land Rover, said the tax on commercial property was making Britain less attractive for industry.
JUMBO HEADACHE FOR BA AS DOUBLE-DECKERS TAKE OFF LATE
British Airways' punctuality is suffering on key routes where it has introduced the Airbus A380 superjumbo, with more than a third of BA flights from Heathrow to Hong Kong, Johannesburg and Los Angeles failing to take off on time in May and June.
THE SUNDAY TELEGRAPH
CITY POISED FOR WAVE OF FLOTATIONS AFTER SUMMER LULL
The City is gearing up for another float frenzy with a wave of listings expected to be unveiled immediately after the summer lull.
In the coming weeks, a raft of household names including Jimmy Choo, the upmarket shoe brand; RAC, the breakdown service; and United Biscuits, are preparing to announce plans to go public. Countryside, the house builder; British Car Auctions, the second-hand car seller; and Aldermore, the challenger bank, are also expected to be among the flurry of companies rushing to join the London stock market.
CLIMATE CRUSADER GORE BACKS UK POWER MINNOW'S BATTLE WITH BIG SIX
Al Gore, the former U.S. Vice President and climate change campaigner, has invested 8 million pounds in Ovo Energy, one of the UK's fastest growing new power suppliers.
The U.S. politician-turned-investor began talks with the firm last year through his sustainable investment fund, Generation Investment Management. The mezzanine finance deal was completed in January. Mr Gore's fund has taken a minority stake and will share in the growth of the challenger brand.
SOCGEN TO FIGHT LIBYAN CASE
Societe Generale has opted to allow a bribery case brought by Libya's sovereign wealth fund to go to court, having previously indicated it would attempt to have the case thrown out.
The French bank is accused by the Libyan Investment Authority (LIA) of paying some $58 million in bribes to key officials in the Gaddafi regime and at the top of the fund to smooth over trades that lost the LIA hundreds of millions, in the years before Muammar Gaddafi was overthrown in 2011.
Societe Generale says it "refutes the claims which it believes are entirely without merit".
ITSU SHARPENS CHOPSTICKS AHEAD OF AMERICAN EXPANSION PLAN
ITSU, the takeaway sushi chain, is preparing to battle the giants of the fast-food industry on their home turf, by launching its first stores in America.
The business aims to open its doors on the East Coast next year, tapping into demand for affordable, healthy food, which founder Julian Metcalfe says has been largely ignored by the fast-food giants.
GYM CHAIN GETS READY FOR SALE
Gym group LA Fitness has hired a private equity specialist as its new chairman, fuelling speculation that the rump of the chain will be sold after it offloaded scores of clubs to survive.
Sports Direct founder Mike Ashley has bought 13 of 33 clubs LA Fitness is offloading via a CVA - a controversial insolvency procedure.
Fly On The Wall Pre-market Buzz
FUTURES:
Near 7:00 am ET:
S&P: +8 vs. fair value
Dow: +61 vs. fair value
Nasdaq: +19 vs. fair value
ECONOMIC REPORTS
Chicago Fed national activity index for July at 8:30--consensus 0.2
Markit services PMI for August at 9:45--consensus 58.0
New home sales for July at 10:00--consensus up 5.7% to 429K rate
ANALYST RESEARCH
Upgrades
CBOE Holdings (CBOE) upgraded to Outperform from Market Perform at Raymond James
Silver Bay Realty (SBY) upgraded to Overweight from Neutral at JPMorgan
U.S. Steel (X) upgraded to Outperform from Underperform at Credit Suisse
Downgrades
Foot Locker (FL) downgraded to Neutral from Overweight at Piper Jaffray
HNI Corporation (HNI) downgraded to Market Perform from Outperform at Raymond James
InterMune (ITMN) downgraded to Hold from Buy at Stifel
Steel Dynamics (STLD) downgraded to Neutral from Outperform at Credit Suisse
Thoratec (THOR) downgraded to Neutral from Overweight at Piper Jaffray
Initiations
Avalanche Biotechnologies (AAVL) initiated with an Overweight at Piper Jaffray
Camden Property (CPT) initiated with a Buy at Mizuho
HealthEquity (HQY) initiated with an Overweight at JPMorgan
Home Properties (HME) initiated with a Neutral at Mizuho
J2 Global (JCOM) initiated with a Neutral at Citigroup
Macrocure (MCUR) initiated with a Buy at Jefferies
Mid-America Apartment (MAA) initiated with a Buy at Mizuho
Spark Energy (SPKE) initiated with an Outperform at RW Baird
UDR, Inc. (UDR) initiated with a Neutral at Mizuho
COMPANY NEWS
Roche (RHHBY) said it will acquire InterMune (ITMN) for $74.00 per share for a total transaction value of $8.3B on a fully diluted basis.
Tim Hortons (THI), Burger King (BKW) confirmed talks regarding potential strategic transaction. The new publicly-listed company would be headquartered inCanada
Goldman Sachs (GS) will pay $3.15B to settle mortgage claims
Engine Capital, Red Alder urged Ann Inc. (ANN) to explore strategic alternatives
Boeing (BA) announced an order by BOC Aviation for 50 737 MAX 8s, 30 Next-Generation 737-800s and two 777-300ERs valued at $8.8B at list prices
Allergan (AGN) confirmed Pershing written request regarding a Special Meeting of stockholders, board still views Valeant (VRX) offer inadequate
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Qihoo 360 (QIHU)
Qihoo 360 (QIHU) sees Q3 revenue $360M-$365M, consensus $357.39M
IF Bancorp (IROQ) reports Q4 EPS 25c vs. 22c a year ago
NEWSPAPERS/WEBSITES
Roche (RHHBY) drops pursuit for remainder of Japan's Chugai to focus on $8.3B acquisition of InterMune (ITMN), Bloomberg reports
FCC seeks more data from Comcast (CMCSA) regarding Time Warner Cable (TWC) deal, Reuters reports
Twitter (TWTR) collaborates with Stripe on commerce strategy, Re/code reports
Russian official says no plans to close McDonald's (MCD), Reuters reports
Occidental Petroleum (OXY) in talks to sell $3B gas stake to Mubadala, Bloomberg reports
Amazon (AMZN) develops ad sales program in challenge to Google (GOOG) and Microsoft (MSFT), WSJ reports
Dresser-Rand (DRC) not currently running formal sales process, dealReporter says
Hasbro (HAS) shares could return 20% in a year, Barron's says
PepsiCo (PEP) holders would benefit more from split up, Barron's says
Home Depot (HD) holders should hold on, Barron's says
SYNDICATE
ONEOK Partners (OKS) files to sell $650M of common units representing limited partners
Summer Infant (SUMR) files $30M mixed securities shelf
Web.com (WWWW) files to sell 213,200 shares of common stock for holders
Average:
0
Your rating: None
Pre Market Movers
Top Gaining Stocks
Price %Change
ITMN Intermune Inc. 73.35 36.34%
THI Tim Hortons 73.00 16.17%
BKW Burger King World... 31.00 14.35%
XGTI xG Technology Inc... 2.10 8.25%
SCON Superconductor Te... 3.27 6.51%
ADXS Advaxis Inc. 3.45 6.15%
BIOF Biofuel Energy Co... 11.58 5.18%
SAEX Saexploration Hol... 9.00 5.14%
TLOG Tetralogic Pharma... 4.62 5.00%
ICPT Intercept Pharmac... 300.00 4.49%
AAVL Avalanche Biotech... 31.75 4.03%
CRNT Ceragon Networks ... 2.22 3.74%
JCP J.c. Penney Co. I... 10.55 3.53%
JRI Nuveen Real Asset... 20.75 3.39%
JRJC China Finance Onl... 10.63 3.30%
KING King Digital Ente... 14.38 3.01%
PBE Powershares Etf T... 46.99 2.85%
FBT First Trust Nyse ... 89.80 2.64%
X United States Ste... 38.71 2.38%
MY China Ming Yang W... 3.44 2.38%
Top Losing Stocks
Price %Change
RGDO Regado Bioscience... 2.10 -26.06%
QIHU Qihoo 360 Technol... 97.48 -4.20%
BSI Alon Blue Square ... 2.90 -2.36%
NAO Nordic American O... 18.50 -2.32%
TZA Direxion Daily Sm... 14.47 -2.23%
ADES Ada-es Inc 21.00 -2.10%
CLF Cliffs Natural Re... 15.62 -1.20%
JBLU Jetblue Airways C... 12.45 -1.19%
VXX Barclays Bank Plc... 27.38 -1.16%
CGEN Compugen Ltd. 8.57 -1.15%
JNUG Direxion Daily Jr... 22.77 -1.13%
TKMR Tekmira Pharmaceu... 17.55 -1.13%
PHMD Photomedex Inc. 8.58 -1.04%
OPK Opko Health 8.73 -0.91%
PG Procter & Gamble ... 82.69 -0.84%
ISR Isoray 2.50 -0.79%
CEL Cellcom Israel 11.46 -0.78%
S Sprint Corporatio... 5.50 -0.72%
TEVA Teva Pharmaceutic... 53.10 -0.65%
ALU Alcatel-lucent Ad... 3.30 -0.60%
Read more at http://thestockmarketwatch.com/markets/pre-market/#VbiKgk2QRezJEQFO.99
data:
Chicago Fed National Activity Index
[Report][Bullet8:30 AM ET
PMI Services Flash
[Report][Bullet9:45 AM ET
New Home Sales
[Report][Star]10:00 AM ET
Dallas Fed Mfg Survey
[Report][djStar]10:30 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
Futures +54
Back to reality
First day of school for my 5th grader and 2nd grader....
good morning
Earnings Preview for the week of August 25 - 29 some of the bigger names include:
Monday:
Pre Market - QIHU, OSIS
After Hours - PINC, PSEC, FN, KANG, RENN, ADEP
Tuesday:
Pre Market - BBY, TECD, BNS, BMO, SAFM, DSW, TSL, RGS, MOV, DAKT
After Hours - DY, BOBE, HEI, SLH, GSM, ARUN, SWHC, TIVO NMBL, ADI
Wednesday:
Pre Market - SDRL, TIF, BF.B, CHS, DCI, BWS, YGE, EXPR, BRLI
After Hours - WSM, GEs, BYI, WDAY, GMAN, CWST, TLYS, VNET, LCI, VMEM, EXA
Thursday:
Pre Market - TD, DG, COTY, SIG, CSTM, ANF, PLL GCO, DXLG, FRO, DATE
After Hours - AVGO, FRED, OVTI, PSUN, UEPS, ANFI, SPLK, VEEV, ZOES, RALY
Friday:
Pre Market - BIG
TRADER RADAR EARNINGS AND ECONOMIC for the WEEK of 8/25 to 8/29
Monday, August 25
US Economics (Time Zone: EST)
10:00 New Home Sales (July) - expected 428K, prior 406K
10:30 Dallas Fed - exp 13.0, prior 12.7
11:30 Treasury to sell $29b 3-month bills and $25b 6-month bills
Global Economics (Time Zone: GMT)
08:00 EUR German IFO Current Assessment, Expectations
Earnings
After:
Prospect Capital (PSEC)
Tuesday, August 26
US Economics (Time Zone: EST)
08:30 Durable Goods Orders (July) - expected 7.6%, prior 0.7%
08:30 Durable Goods ex Transporation - exp 0.5%, prior 0.8%
08:30 Cap Goods Shipments Nondef Ex Air - exp 0.5%, prior -1.0%
08:30 Cap Goods Orders Nondef Ex Air - exp 0.2%, prior 1.4%
09:00 FHFA Home Price Index (June) - exp 0.3%, prior 0.4%
09:00 S&P/Case Shiller 20 City MoM (June) - exp -0.1%, prior -0.31%
09:00 S&P/CS YoY - exp 8.22%, prior 9.34%
10:00 Consumer Confidence Index (August) - exp 88.5, prior 90.9
10:00 Richmond Fed - exp 6, prior 7
11:00 Fed to purchase $2b-$2.5b notes in 11-19 year range
11:30 Treasury to sell 4-week bills
1:00 Treasuty to sell $29b 2-year notes
Global Economics (Time Zone: GMT)
NZD Trade Balance
02:00 CNY July Leading Economic Indexeda
Earnings
Before:
Best Buy (BBY)
After:
Bob Evans Farms (BOBE)
Sanderson Farms (SAFM)
Wednesday, August 27
US Economics (Time Zone: EST)
07:00 MBA Mortgage Apps
11:00 Fed to purchase $950m-$1.15b bonds in 22 to 30-year range
11:30 Treasury to sell $13b 2-year FRN (reopening)
1:00 Treasury selling $35b 5-year notes
Global Economics (Time Zone: GMT)
06:00 EUR German GfK Consumer Confidence
Earnings
Before:
Express (EXPR)
Michaels Co (MIK)
After:
Lannett (LCI)
Workday (WDAY)
Tiffany's (TIF)
Thursday, August 28
US Economics (Time Zone: EST)
08:30 Initial Jobless Claims - exp. 300k, prior 298k
08:30 Continuing Claims - exp 2500k, prior 2500k
08:30 GDP Annualized QoQ (2Q second estimate) - exp 3.9%, prior 4.0%
08;30 Personal Consumption - exp 2.4%, prior 2.5%
08:30 GDP Price Index - exp 2.0%, prior 2.0%
08:30 Core PCE QoQ - exp 2.0%, prior 2.0%
10:00 Pending Home Sales MoM (July) - exp 0.5%, prior -1.1%
11:00 Kansas City Fed - exp 9, prior 9
1:00 Treasury selling $29b 7-year notes
Global Economics (Time Zone: GMT)
Japan Investors Purchases of Foreign Stocks/Bonds
01:00 AUD New Home Sales
01:30 CNY Industrial Profits
07:55 EUR German Unemployment Change
12:00 EUR German Consumer Price Index (Aug prelim)
12:30 CAD Current Account Balance
Earnings
Before:
Abercrombie & Fitch (ANF)
After:
Omnvision (OVTI)
Splunk (SPLK)
Dollar General (DG)
Friday, August 29
US Economics (Time Zone: EST)
08:30 Personal Income (July) - expected 0.3%, prior 0.4%
08:30 Personal Spending - exp 0.1%, prior 0.4%
08:30 PCE Deflator MoM - exp 0.1%, prior 0.2%
08:30 PCE Deflator YoY - exp 1.6%, prior 1.6%
08:30 PCE Core MoM - exp 0.1%, prior 0.1%
08:30 PCE Core YoY - exp 1.5%, prior 1.5%
09:00 ISM Milwaukee (Aug) - exp 60.00, prior 63.87
09:45 Chicago PMI (Aug) - exp 56.5, prior 52.6
09:55 University of Michigan Confidence (August final) - exp 80.2, prior 79.2
Global Economics (Time Zone: GMT)
JPY Employment Data
JPY National CPI (July)
JPY Tokyo CPI (Aug)
JPY Retail Sales
JPY Industrial Production (Jul prelim)
05:00 JPY Housing Starts
08:00 CHF Unemployment Rate (Jul prelim)
09:00 EUR CPI (Aug advance)
12:30 CAD 2Q GDP
Earnings
No major earnings scheduled
Hi you!!!!!.....
Vacations rock!!!
Last week until school starts..... :(
couple trades this week, will post later...
Yes, I saw you have been away as well....fun isn't it!!!
Hugs to you!
probably it for the week....not sure...forgot how stressful this is...but fun as well....
Earnings Preview for the week of August 4 - 8 some of the bigger names include:
Monday:
Pre Market - CAH, HSIC, CNA, RLGY, KORs, ALR, I
After Hours - AIG, THC, MRO, CAR, Y, PL, PXD, DRC, APL, VNO, MDR, PHH, CHGG
Tuesday:
Pre Market - CVS, ADM, EMR, ODP, FE, MGM, ACT, WNR, MSI, ACM, CVC, EXPD, NTI, AEE, ZTS, SMG, COH, BLMN, WLK, AME, ARCO, VMC, MWW,
After Hours - DIS, LBTYA, EOG, OKE, OKS, FTR, AXLL, TPC, CLR, QUAD, DPM, FSLR, GRPN, XEC, TRMB, ATVI, TMHC, KAR, BIO, ITRI, DRYS, ORIG, SMCI, TDW, OAS, WGP, BKH, JAZZ, WBMD, PEGA, FEYE, Z
Wednesday:
Pre Market - MDLZ, AVT, TWX, CHK, HFC, DVN, DISH, PH, VIAB, HNT, CTSH, VOYA, VC, CNP, RL, KELYA, SE, TAP, CEQP, ANR, WPX, CLH, THI, SKYW, DBD, NUS, DNR, APO, AOL
After Hours - ETE, ETP, PRU, PAA, FOXA, AGU, MUSA, SXL, CTL, SLF, RIG, SYMC, CF, ANDE, KND, RGP, GMCR, EVHC, TEG, ATO, RNDY, QEP, AWK, UHAL, BWC, LNT, CXO, CPA, ENS, CXW, ZU, MCP
Thursday:
Pre Market - NVO, MFC, DUK, CNQ, BCE, GLP, AES, NRG, SRE, CORE, QIWI, MYL, HII, WIN, HAR, TSE, MPEL, LINE, FWLT, BR, SATS, CTB, HSNI, CQB, WWAV, ICE, SUNE, WEN, OWW, GOLD, SSYS
After Hours - CBS, CSC, ED, NWSA, ALJ, NVDA, CFN, DAR, ATLS, SEM, SFM, MNST, GXP, KMPR, LGF, DV, CENT, NFG, SLXP, MTX, ZNGA, YOKU, SCTY, WIFI, VVUS
Friday:
Pre Market - MGA, BAM, BPL, SUSS, SUSP, BECN, ERF
After Hours - MDRX
TRADER RADAR UPCOMING ECONOMIC and EARNINGS MARKET INFORMATION ~ 8/4 to 8/8
Monday, August 4
US Economics (Time Zone: EST)
09:45 ISM New York - prior 60.5
11:00 Fed to purchase $950m-$1.15b bonds in 22-30 year range
11:30 Treasury to sell $28b 3-month bills and $25b 6-month bills
Global Economics (Time Zone: GMT)
01:30 AUD Retail Sales
07:30 CHF Manufacturing PMI
08:30 GBP Construction PMI
Earnings
After:
AIG (AIG)
Marathon Oil (MRO)
Pioneer Natural Resources (PXD)
ChannelAdvisor (ECOM)
Tuesday, August 5
US Economics (Time Zone: EST)
10:00 ISM Non-manufacturing (July) - expected 56.5, prior 56.0
10:00 Factory Orders - exp 0.6%, prior -0.5%
11:00 Treasury to sell 4-week bills
Global Economics (Time Zone: GMT)
01:30 AUD Trade Balance
01:35 JPY Services PMI
01:45 CNY HSBC Services PMI
04:30 AUD RBA Rate Decision
08:30 GBP Services PMI
Earnings
Before:
Archer-Daniels-Midland (ADM)
Emerson Electric (EMR)
Louisiana-Pacific (LPX)
CVS Caremark (CVS)
MGM Resorts (MGM)
Cablevision (CVC)
Regeneron (REGN)
After:
Walt Disney (DIS)
Frontier Communications (FTR)
EOG Resources (EOG)
Activision (ATVI)
Continental Resources (CLR)
First Solar (FSLR)
Groupon (GRPN)
Rocket Fuel (FUEL)
FireEye (FEYE)
Office Depot (ODP)
Coach (COH)
Zillow (Z)
Liberty Media (LMCA)
Wednesday, August 6
US Economics (Time Zone: EST)
07:00 MBA Mortgage Apps
08:30 Trade Balance (June) - expected -$45B, prior -$44.4B
2:00 Fed's Beige Book
11:00 Fed to purchase $1.4b-$1.7b notes in 4 to 5-year range
Global Economics (Time Zone: GMT)
NZD Employment Change
05:00 JPY Leading Index (June)
06:00 EUR German Factory Orders
07:15 CHF CPI
08:30 GBP Industrial and Manufacturing Production
Earnings
Before:
Stifel (SF)
Molson Coors (TAP)
Time Warner (TWX)
HollyFrontier (HFC)
Chesapeake Energy (CHK)
NuSkin (NUS)
Apollo Global Management (APO)
Devon Energy (DVN)
Alpha Natural Resources (ANR)
Starwood Property Trust (STWD)
Nationstar Mortgage (NSM)
Parker Hannafin (PH)
After:
MBIA (MBI)
Symantec (SYMC)
Keurig Green Mountain (GMCR)
Prudential Financial (PRU)
Annaly Capital (NLY)
Gulfport Energy (GPOR)
CF Industries (CF)
MolyCorp (MCP)
Sotheby's (BID)
Dish Network (DISH)
Viacom (VIA)
AOL (AOL)
Thursday, August 7
US Economics (Time Zone: EST)
08:30 Initial Jobless Claims, June 28, exp. 305k, prior 302k
08:30 Continuing Claims - exp 2510K, prior 2539k
3:00 Consumer Credit (June) - exp $18.25B, prior $19.62B
11:00 Fed to purchase $2.05b-$2.5b notes in 7 to 10-year range
Global Economics (Time Zone: GMT)
Japan Investors Purchases of Foreign Stocks/Bonds
01:30 AUD Employment Change
11:00 GBP BoE Rate Decision
11:45 EUR ECB Rate Decision
14:00 CAD Ivey PMI
Earnings
Before:
Cooper Tire (CTB)
Goodrich Petroleum (GDP)
Wendy's (WEN)
Duke Energy (DUKW)
After:
Nvidia (NVDA)
Monster Beverages (MNST)
CBS (CBS)
Lions Gate (LGF)
Medivation (MDVN)
Zynga (ZNGA)
Solarcity (SCTY)
Linn Energy (LINE)
Friday, August 8
US Economics (Time Zone: EST)
08:30 Nonfarm Productivity (2Q prelim) - expected 1.4%, prior -3.2%
08:30 Unit Labor Costs - exp 1.2%, prior 5.7%
10:00 Wholesale Inventories MoM (June) - exp 0.8%, prior 0.5%
Global Economics (Time Zone: GMT)
JPY Trade Balance
CNY Trade Balance
BoJ Rate Decision
08:30 GBP Trade Balance
08:30 GBP Construction Output
12:30 CAD Employment Change
Earnings
PDC Energy (PDCE)
Part of concert in Las Vegas....was on the floor just below where she dropped down....crazy....
TRADER RADAR the WEEK AHEAD ECONOMIC AND EARNINGS 7/28 to 8/01
Monday, July 28
US Economics (Time Zone: EST)
10:00 Pending Home Sales YoY (June) - expected 0.2%, prior 6.1%
10:30 Dallas Fed - exp 12.0, prior 11.4
11:00 Fed to purchase $1b-$1.25b bonds in 22-30 year range
11:30 Treasury to sell $27b 3-month bills and $24b 6-month bills
1:00 Treasury to sell $29b 2-year notes
Global Economics (Time Zone: GMT)
No major reports scheduled
Earnings
Before:
Cummins (CMI)
Tyson Foods (TSN)
After:
Eastman Chemical (EMN)
Masco (MAS)
Range Resources (RRC)
Herbalife (HLF)
American Capital Agency Corp (AGNC)
Tuesday, July 29
US Economics (Time Zone: EST)
09:00 S&P/Case Shiller 20 City MoM (May) - expected 0.30%, prior 0.19%
09:00 S&P/CS YoY - exp 9.8%, prior 10.82%
10:00 Consumer Confidence Index (July) - exp 85.5, prior 85.2
10:00 Existing Home Sales (June) - exp 4.99M, prior 4.98M
11:00 Fed to purchase $300m-$450m notes in 10 to 19-year range
11:30 Treasury to sell 4-week bills
1:00 Treasury to sell $35b 5-year notes
Global Economics (Time Zone: GMT)
JPY Employment Statistics
05:00 JPY Small Business Confidence
08:30 GBP Mortgage Lending
Earnings
Before:
Corning (GLW)
Eaton (ETN)
International Paper (IP)
Merck (MRK)
Pfizer (PFE)
AGCO (AGCO)
AK Steel (AKS)
Arch Coal (ACI)
Wynn Resorts (WYNN)
HCA Holdings (HCA)
Aetna (AET)
Sirius XM (SIRI)
UPS (UPS)
Ally Financial (ALLY)
After:
Aflac (AFL)
American Express (AXP)
Anadarko Petroleum (APC)
Newmont Mining (NEM)
US Steel (X)
Panera (PNRA)
Express Scripts (EXPR)
Buffalo Wild Wings (BWLD)
Twitter (TWTR)
Wednesday, July 30
US Economics (Time Zone: EST)
07:00 MBA Mortgage Apps
08:15 ADP Employment Change (July) - expected 235K, prior 281K
08:30 GDP Annualized QoQ (2Q advance) - exp 3.0%, prior -2.9%
08:30 Personal Consumption - exp 1.9%, prior 1.0%
08:30 GDP Price Index - exp 1.8%, prior 1.3%
08:30 Core PCE QoQ - exp 1.9%, prior 1.2%
2:00 FOMC Rate Decision (no post meeting press conference or econ projections)
11:30 Treasury to sell $15b 2-year FRN
1:00 Treasury to sell $29b 7-year notes
Global Economics (Time Zone: GMT)
JPY Industrial Production
01:45 CNY Westpac-MNI Consumer Sentiment
09:00 EUR Eurozone Consumer and Economic Confidence
12:00 EUR German CPI (July prelim)
Earnings
Before:
Hess (HES)
Lorillard (LO)
Carlyle Group (CG)
Valero Energy (VLO)
Humana (HUM)
Wellpoint (WLP)
American Tower Corp (AMT)
Sprint (S)
Phillips 66 (PSX)
After:
Kraft Foods (KRFT)
Allstate (ALL)
Tesoro (TSO)
Western Digital (WDC)
Whole Foods Market (WFM)
Shutterfly (SFLY)
Metlife (MET)
ServiceNow (NOW)
Lifelock (LOCK)
Yelp (YELP)
BioMarin Pharma (BMRN)
Akamai (AKAM)
Thursday, July 31
US Economics (Time Zone: EST)
07:30 Challenger Job Cuts YoY - prior -20.2%
08:30 Initial Jobless Claims - exp. 305k, prior 284k
08:30 Continuing Claims - prior 2500k
09:00 ISM Milwaukee - exp 63.0, prior 62.6
09:45 Chicago PMI (July) - exp 63.0, prior 62.6
11:00 Fed to purchase $1b-$1.25b bonds in 22 to 30-year range
Global Economics (Time Zone: GMT)
Japan Investors Purchases of Foreign Stocks/Bonds
01:30 AUD Building Approvals
05:00 JPY Housing Starts
07:55 EUR German Unemployment Change
09:00 EUR Eurozone CPI Estimate (July)
12:30 CAD GDP
Earnings
Before:
Avon Products (AVP)
Cigna (CI)
Colgate-Palmolive (CL)
Exxon Mobil (XOM)
ConocoPhillips (COP)
McKesson (MCK)
Walter Energy (WLT)
Ocwen Financial (OCN)
CME Group (CME)
Time Warner Cable (TWC)
Mastercard (MA)
T-Mobile (TMUS)
Legg Mason (LM)
Mosaic (MOS)
Discovery Communications (DISCA)
Apache (APA)
Kellogg (K)
After:
Kodiak Oil & Gas (KOG)
LinkedIn (LNKD)
Expedia (EXPE)
Tesla Motors (TSLA)
3D Systems (DDD)
DirecTV (DTV)
Marathon Petroleum (MPC)
Friday, August 1
US Economics (Time Zone: EST)
08:30 Nonfarm Payrolls (July) - expected 230K, prior 288K
08:30 Private Payrolls - exp 228K, prior 262K
08:30 Manufacturing Payrolls - exp 15K, prior 16K
08:30 Unemployment Rate - exp 6.1%, prior 6.1%
08:30 Average Hourly Earnings YoY - exp 2.2%, prior 2.0%
08:30 Average Weekly Hours - exp 34.5, prior 34.5
08:30 Personal Income (June) - exp 0.4%, prior 0.4%
08:30 Personal Spending (June) - exp 0.4%, prior 0.2%
08:30 PCE Deflator YoY (June) - exp 1.6%, prior 1.8%
08:30 PCE Core YoY (June) - exp 1.4%, prior 1.5%
09:55 University of Michigan Consumer Confidence (July final) - exp 81.5, prior 81.3
10:00 ISM Manufacturing (July) - exp 56.0, prior 55.3
10:00 ISM Prices Paid - exp 58.0, prior 58.0
10:00 Construction Spending (June) - exp 0.5%, prior 0.1%
5:00 Domestic Vehicle Sales (July) - exp 13.2M, prior 13.25M
5:00 Total Vehicle Sales - exp 16.79M, prior 16.92M
Global Economics (Time Zone: GMT)
01:00 CNY Manufacturing PMI
01:45 CNY HSBC China Manufacturing PMI (July final)
08:00 EUR Eurozone manufacturing PMI (July final)
08:30 GBP Manufacturing PMI
13:30 CAD RBC Canadian Manufacturing PMI
07:30 BoJ's Kuroda speaks at research institute in Japan
Earnings
Weyerhauser (WY)
Procter & Gamble (PG)
Chevron (CVC)
Southwestern Energy (SWN)
Earnings Preview for the week of July 28 - August 1 some of the bigger names include:
Monday:
Pre Market - TSN, CMI, TEN, RPM, ROP, LECO, AWI, MCY, ARLP, SOHU
After Hours - JEC, EMN, OMI, MAS, WRB, XL, PRE, HLF, AFG, NCLH, AMKR, CR, GGP, HLS, RRC
Tuesday:
Pre Market - HMC, BP, UPS, AET, PFE, MRK, HCA, IP, UBS, ETN, ARW, NOV, TRW, PCAR, NEE, ITW, WM, ECL, MMC, ETR, AGCO, GLW, RAI, OSK, EME, AXE, LVLT, FIS, NLSN, AKS, TLM, HRS, MHFI, ALLY, FDP, SIRI, XYL, CNX, ACI, GNC, FSRV, VSH, AMG, UAM, SAVE,
After Hours - ESRX, AXP, AFL, AMGN, X, APC, MAR, CHRW, AMP, RKT, GNW, TX, CBG, NEM, NCR, UGI, TRN, FISV, CINF, AXS, AJG, WSH, DOX, GPRE, RBC, GAS, BXP, BWLD, TWTR, DWA, NTRI, SQNM,
Wednesday:
Pre Market - AUO, PSX, VLO, WLP, HUM, S, GT, CVE, SO, PAG, TRI, RRD, HUN, D, GIB, HES, PEG, BEN, SEE, PTRY, ROK, INGR, MWV, LO, BAH, SPW, SPB, ENR, LPLA, HSP, WEC, AMT, PBI, ADT, IACI, AB, LL, HAE,
After Hours - MET, INT, SU, TSO, ALL, KRFT, HIG, WDC, WFM, LNC, TS, UNM, ABX, MOH, PPC, FNF, WMB, WPZ, OI, KBR, CNW, MUR, LRCX, ESV, NE, FBHS, SPN, MTW, FMC, CBT, TGI, KGC, MEOH, WLL, AEM, AUY, CTRP,
Thursday:
Pre Market - XOM, MCK, MPC, COP, BG, EPD, BUD, CI, DTV, AZN, OXY, TWC, EXC, TEVA, DLPH, CL, PCG, K, APA, ALU, ADP, LLL, CDW, PPL, CVI, XEL, MOS, MA, TRP, CHTR, BLL, AVP, BWA, BDX, VRX, PNR, PWR, LKQ, DISCA, NWL, HST, SC, IVZ, NI, ATK, H, GEL, RFP, GG, COMM, Q, SCG, MTOR, SBH, HP, PNW, TKR, WWE,
After Hours - BSAC, FLR, CYH, DVA, EIX, EEP, MHK, LYV, ASH, NU, NSIT, EXPE, ARRS, WU, MRC, YRCW, THG, JLL, ACGL, TSLA, ONNN, SWN, BYD, WSTC, SPF, OUTR, G, MCHP, LNKD, PSA, OIS, RMD, SYNA, KOG, AMSG, GPRO,
Friday:
Pre Market - CVX, PG, MT, ENB, CTRX, PBF, HLT, WY, NGLS, SPR, CLX, CPN, TDS, XLS, AXL, HCN, CHD
was an awesome trip.....in fact.....having 'I'm back from vacation blues'
best concert I've ever seen....just over the top sound, production....everything was the best money can buy....and we were so close....made eye contact....that close....
really enjoying the summer....kids are having fun....and even more importantly, I am having fun....
been awhile on that....last few months have been uplifting...
kids go back to school August 25th....then back to reality and trading...
need to update ibox as there have been no trades.....so lots of zeros....will hit it soon....
Lady gaga tonight....see you're been stalked on the sss board.....get em beach.....or im gonna rough him up!
Hi stuffie!..... I'm in Las Vegas right now...... we're going to see Lady Gaga tonight in concert at the MGM Grand.... will be back in Texas on Tuesday.... it's so nice being on vacation again and I can't believe how much the trip has built up.....
I hope you and your family are doing well....
plan to be back on ihub regularly when school starts
Futures -21
yes! coffee is necessary!
frontrunning:
America’s Role as Consumer of Last Resort Goes Missing (BBG)
Holiday sales sag despite blitz of deals (WSJ)
Abe Support Falls Below 50% for First Time Amid Secrecy Drive (BBG)
U.S. airlines give China flight plans for defense zone (Reuters), while Japan: no change to airlines' notification policy when flying in East China Sea zone (Reuters)
Thai protesters seek to topple PM after clashes (Reuters)
Hilton Seeks as Much as $2.4 Billion in Biggest Hotel IPO (BBG)
Biden on delicate mission to defuse tensions in East Asia (Reuters)
Fed eyes financial system weak link (WSJ)
Pentagon in line of fire in US budget war (FT)
China’s monetary squeeze collides with housing bubble (FT)
China to End IPO Freeze With 50 New Share Sales Ready by January (BBG)
Global factory growth picks up but Europe diverging (Reuters)
Japan to take up spat over China air zone with US (FT)
Wal-Mart Steps Up Security as Fights Break Out Over TVs (BBG)
Overnight Media Digest
WSJ
* Insurers and some states are continuing to look for ways to bypass the balky technology underpinning the healthcare law despite the Obama administration's claim Sunday that it had made "dramatic progress" in fixing the federal insurance website.
* Retail spending over Thanksgiving weekend dropped for the first time in at least seven years, as the blitz of deals and earlier opening hours apparently failed to pry more dollars out of the hands of budget-conscious shoppers.
* Regulators have spent the past five years trying to siphon risk out of the financial system, but the Federal Reserve sees one major piece of unfinished business: short-term funding.
* US Airways CEO Doug Parker said overcoming the government's objections was only part of the challenge to the AMR merger. He also had to persuade executives at both companies that the deal would go through.
* Stocks in China fell Monday after the country signaled an imminent end to its moratorium on initial public offerings, while shares in Tokyo continued to ease off last week's near six-year high.
* A four-year-old Justice Department probe into allegations that large banks and others conspired to thwart competition in the $24.3 trillion market for credit-default swaps is winding down and penalties aren't planned.
* With corporate debt issuance racing toward a record, some large companies are rolling out unusual offerings in a bid to serve the bond market's every nook and cranny.
* GrainCorp Ltd suffered its second blow in almost as many days when its chief executive quit in the wake of Australia's rejection of a 3 billion Australian dollar ($2.7 billion) takeover bid by U.S. agribusiness Archer Daniels Midland Co.
* The FTC is taking a closer look at whether media outlets are adequately identifying websites' "sponsored content," which can sometimes blur the lines between articles and promotional pitches.
FT
Britain's industrial conglomerates told the Financial Times that green taxes imposed by the David Cameron government were putting the companies' UK plants at a competitive disadvantage compared to their European rivals'.
The economic recovery in Britain is drawing investors from all over the world, taking the eurozone by surprise. Economists are attributing this sudden strength in the UK to a revival in confidence and some predict that Britain would be the world's fastest growing developed economy in the next five years.
Britain's 19 water and sewage service operators are scheduled to submit their plan on Monday to hold rate hikes below the inflation rate until the end of the decade.
Fondo Strategico Italiano is the likely front-runner for a minority stake in Italian luxury brand Versace, estimated to be worth 850 million pounds, sources familiar with the matter told the Financial Times.
BP, in a court filing last week, revealed the oil major will begin receiving payments again on account of economic losses from the 2010 Deepwater Horizon oil spill.
Software firm Servelec will launch its initial public offering of 68.3 million shares with an expected valuation of 122 million pounds, making it the largest technology float in three years.
NYT
* The HealthCare.gov site appears easier to use for most people, but problems in the so-called backend systems that deliver consumer information to insurers still have not been fixed.
* In an era of chastened Wall Street egos, Michael Corbat, the chief of Citigroup, has cultivated a workmanlike demeanor out of the spotlight. The low-key approach taken by Citigroup - which faces a number of investigations of its own - has not gone unnoticed inside JPMorgan. Some board members and executives there have recently pointed to Corbat in privately discussing the apparent advantages of a more self-effacing approach in a chief executive.
* Some features of physical books may be getting a second life online, but efforts to completely re-imagine the core experience of the book has yet to catch on. Even as the universe of printed matter continues to shrivel, the book - or at least some of its best-known features - is showing remarkable staying power online.
* Paul Crouch, a television evangelist who founded the Trinity Broadcasting Network with his wife and turned it into the world's largest Christian television network, died on Saturday. He was 79.
* Over the course of the weekend, consumers spent about $1.7 billion less on holiday shopping than they did the year before, according to the National Retail Federation.
Canada
THE GLOBE AND MAIL
* Ottawa has recovered more e-mail traffic that stands to shine a greater light on the role of the Prime Minister's Office and its top legal adviser in negotiations over the living expenses of Senator Mike Duffy. (http://link.reuters.com/dyb25v)
* Police are charging a 53-year-old engineer with attempting to pass along classified Canadian shipbuilding techniques to China, a set of allegations that speaks to how private contractors can be possible backdoor threats to government secrets. (http://link.reuters.com/fyb25v)
Reports in the business section:
* The latest craze to hit Canada's banks is a new take on an old payment system - personal checks. Despite the surge in electronic money transfers and the rapid growth of credit-card transactions, many Canadians still use checks. The Canadian Payments Association recently estimated that almost four million are written each business day. (http://link.reuters.com/gyb25v)
* Jobs data have painted a mixed picture of the labor market this fall, with hiring in some sectors (education and utilities) offsetting weakness in others (construction and manufacturing). As a result, net employment hasn't changed much in recent months. Wage growth, though muted, continues to outpace inflation. (http://link.reuters.com/hyb25v)
NATIONAL POST
* A speedy undercover investigation that lasted less than 48 hours led to the arrest this weekend of a Toronto naval engineer accused of trying to pass secrets about Canadian patrol ships to the government of China. Qing Quentin Huang, 53, was charged Sunday with two counts under the Security of Information Act for allegedly attempting to "communicate to a foreign entity" details of Canada's National Shipbuilding Procurement Strategy.
China
CHINA DAILY
- China's recent declaration of an air defence zone in the East China Sea will be hard to navigate during a visit to some Asian countries, including China, by U.S. Vice President Joe Biden this week, an editorial by the official newspaper said.
PEOPLE'S DAILY
- The launch of China's first ever extra-terrestrial landing craft into orbit en route to the moon in the small hours of Monday is a major step to fulfil the dream of national revival, an editorial said.
- China has published a book on President Xi Jinping's comments on how to unite the whole country to fulfil the dream of national revival.
CHINA SECURITIES JOURNAL
- A commentary says the dual steps to resume initial public offerings (IPOs) and let listed firms issue preferred shares will inject long-term vitality into China's stock market.
- Securities analysts say Chinese share prices are likely to continue their recent "slow bull run" despite the regulatory announcement to resume IPOs in January.
SECURITIES TIMES
- China now has 763 companies now in the waiting list to launch IPOs.
- The Shenzhen Stock Exchange uses a T+0 system to let investors sell some products, including gold ETFs (exchange-traded funds), they buy on the same day. Shanghai did that earlier.
SHANGHAI SECURITIES NEWS
- The Shanghai and Shenzhen stock exchanges say they will make preparations for the resumption of IPOs.
- The China Securities Regulatory Commission said it will promote options derived from agricultural products.
CHINA BUSINESS NEWS
- The combined turnover of China's three commodity futures exchanges jumped 62 percent year on year in the first 11 months of this year, exceeding the total of last year, as a slew of new futures contracts have been launched this year.
Fly On The Wall 7:00 AM Market Snapshot
ANALYST RESEARCH
Upgrades
American Eagle (AEO) upgraded to Buy from Neutral at Janney Capital
eBay (EBAY) upgraded to Buy from Neutral at SunTrust
Knight Transportation (KNX) upgraded to Overweight from Neutral at JPMorgan
Marathon Petroleum (MPC) upgraded to Buy from Hold at Deutsche Bank
Monster Beverage (MNST) upgraded to Overweight from Neutral at JPMorgan
Oceaneering (OII) upgraded to Buy from Hold at Jefferies
Pacific Coast Oil (ROYT) upgraded to Overweight from Neutral at JPMorgan
Progressive (PGR) upgraded to Neutral from Sell at Goldman
Rackspace (RAX) upgraded to Outperform from Market Perform at Raymond James
Ruckus Wireless (RKUS) upgraded to Buy from Neutral at Goldman
Swisscom (SCMWY) upgraded to Buy from Neutral at Nomura
WebMD (WBMD) upgraded to Neutral from Sell at Goldman
Westar Energy (WR) upgraded to Buy from Neutral at Goldman
Downgrades
3M Company (MMM) downgraded to Underweight from Equal Weight at Morgan Stanley
AGL Resources (GAS) downgraded to Sell from Neutral at Goldman
Everest Re (RE) downgraded to Hold from Buy at Deutsche Bank
Everest Re (RE) downgraded to Sell from Neutral at Goldman
Fairchild (FCS) downgraded to Market Perform from Strong Buy at Raymond James
Genesco (GCO) downgraded to Neutral from Overweight at Piper Jaffray
Groupon (GRPN) downgraded to Neutral from Buy at Goldman
Hologic (HOLX) downgraded to Market Perform from Outperform at Cowen
OpenTable (OPEN) downgraded to Neutral from Buy at Goldman
Petrobras (PBR) downgraded to Underperform from Outperform at Credit Suisse
Shire (SHPG) downgraded to Neutral from Buy at UBS
Sprint (S) downgraded to Neutral from Outperform at Macquarie
Travelers (TRV) downgraded to Neutral from Buy at Goldman
Trulia (TRLA) downgraded to Neutral from Buy at Goldman
W. R. Berkley (WRB) downgraded to Sell from Neutral at Goldman
Initiations
Arc Logistics (ARCX) initiated with an Overweight at Barclays
Barracuda Networks (CUDA) initiated with an Overweight at JPMorgan
Blue Capital (BCRH) initiated with an Equal Weight at Barclays
CST Brands (CST) initiated with a Buy at Mizuho
EXCO Resources (XCO) reinstated with a Sell at Goldman
Endocyte (ECYT) initiated with an Overweight at Piper Jaffray
Federated National (FNHC) initiated with an Outperform at Raymond James
Gaming and Leisure Properties (GLPI) initiated with an Outperform at Wells Fargo
LGI Homes (LGIH) initiated with a Buy at Deutsche Bank
Mavenir Systems (MVNR) initiated with a Buy at BofA/Merrill
Mavenir Systems (MVNR) initiated with a Buy at Needham
Mavenir Systems (MVNR) initiated with an Overweight at Morgan Stanley
Millennial Media (MM) initiated with an Overweight at Evercore
Norcraft (NCFT) initiated with a Buy at Citigroup
Norcraft (NCFT) initiated with a Buy at UBS
Norcraft (NCFT) initiated with a Hold at Deutsche Bank
Norcraft (NCFT) initiated with an Outperform at RBC Capital
Rocket Fuel (FUEL) initiated with an Underweight at Evercore
Sophiris Bio (SPHS) initiated with a Neutral at Citigroup
Tableau Software (DATA) initiated with a Sector Perform at RBC Capital
Tetra Technologies (TTI) initiated with a Market Perform at Cowen
Twitter (TWTR) initiated with a Buy at Deutsche Bank
Twitter (TWTR) initiated with a Buy at Goldman
Twitter (TWTR) initiated with a Neutral at JPMorgan
Twitter (TWTR) initiated with an Equal Weight at Morgan Stanley
Twitter (TWTR) initiated with an Underperform at BofA/Merrill
VMware (VMW) initiated with an Overweight at Atlantic Equities
Wix.com (WIX) initiated with an Outperform at RBC Capital
Wix.com (WIX) initiated with an Overweight at JPMorgan
HOT STOCKS
GrainCorp (GRCLF) CEO resigned after ADM (ADM) deal fell through
Canada Competition Bureau approved TELUS (TU) purchase of Public Mobile
Akamai (AKAM) to acquire Prolexic for about $370M
Rockwood (ROC) to acquires 49% interest in Talison Lithium
Telecom Italia (TI) said not planning to sell Tim Brasil stake
ResMed (RMD) acquired Prague-based Unimedis, terms not disclosed
NEWSPAPERS/WEBSITES
Retail spending over Thanksgiving weekend dropped for the first time in at least seven years (WMT, DIS, GME, BBY JCP), the National Retail Federation said, as the blitz of deals and earlier opening hours apparently failed to pry more dollars out of the hands of budget-conscious shoppers, the Wall Street Journal reports
A four year old Justice Department civil probe into allegations that large banks and others (C, GS, JPM, MS, BCS) conspired to thwart competition in the $24.3T market for credit-default swaps is winding down and penalties aren't planned, sources say, the Wall Street Journal reports
Comcast (CMCSA) is testing new advertising technology that inserts up-to-date commercials into past episodes of TV shows that are available on demand, a development that could help television networks generate additional revenue, Reuters reports
Panasonic (PCRFY) is in talks with automotive parts makers for possible acquisitions or alliances as Japan’s No. 2 TV producer seeks to expand the components it delivers to vehicle manufacturers, Bloomberg reports
The weakest employment recovery in seven decades is proving a boon to equity markets. Five years into a rally that has restored $14T to share prices, U.S. payrolls remain 1.5M below the level in 2008. Resistance to hiring will help push S&P’s 500 Index profit margins above 10% next year, the highest ever, data show, Bloomberg reports
BARRON’S
Capital One (COF) could rise over 17% in a year
GM (GM), Delta (DAL), Safeway (SWY, others (PBI, HPQ, OI) could turn around
Investors should continue to stay clear of SolarCity (SCTY)
Investors may want to take a closer look at American Realty (ARCP)
HP's (HPQ) shares could continue to rise as multiple expands
SYNDICATE
Cheniere Energy Partners LP (CQH) commences 30M share IPO
PEDEVCO(PED) announces proposed public offering of common stock
data:
NFIB Small Business Optimism Index
[Report][Bullet7:30 AM ET
ICSC-Goldman Store Sales
[Report][Bullet7:45 AM ET
Redbook
[Bullet8:55 AM ET
JOLTS
[Report][Bullet10:00 AM ET
4-Week Bill Auction
[Bullet11:30 AM ET
Jeffrey Lacker Speaks
1:00 PM ET
3-Yr Note Auction
[Bullet1:00 PM ET
Narayana Kocherlakota Speaks
1:45 PM ET
Consumer Credit
[Report][Bullet3:00 PM ET
up/down grades: http://www.benzinga.com/calendar/ratings
hi bc.....up early for Alex's horse lessons.....
how are you?
enjoying summer......
Pre Market Movers
Top Gaining Stocks
Price %Change
NURO Neurometrix Inc. ... 2.49 31.75%
TXMD Therapeuticsmd 5.24 26.88%
CGI Celadon Group Inc... 22.75 7.01%
DNDN Dendreon Corporat... 2.46 5.58%
CMGE China Mobile Game... 15.87 5.10%
ROYL Royale Energy Inc... 3.95 4.77%
ANV Allied Nevada Gol... 3.83 4.08%
DQ Daqo New Energy A... 32.21 3.77%
ABY Abengoa Yield Plc... 38.79 3.74%
MRD Memorial Resource... 26.27 3.59%
GRPN Groupon Inc. 6.68 3.57%
MYL Mylan Inc. 52.30 3.44%
PHH Phh Corp. 24.05 3.31%
PGNX Progenics Pharmac... 4.50 3.27%
PHG Koninklijke Phili... 32.44 3.18%
JNUG Direxion Daily Jr... 27.90 2.99%
KNDI Kandi Technologie... 15.28 2.89%
GTAT GT Advanced Techn... 16.95 2.73%
MUX Mcewen Mining 2.87 2.50%
SHPG Shire Plc (jersey... 243.24 2.43%
Top Losing Stocks
Price %Change
NWBO Northwest Biother... 5.61 -16.39%
EGLE Eagle Bulk Shippi... 2.56 -7.91%
CHNR China Natural Res... 4.04 -7.55%
CAMT Camtek Ltd. 4.75 -5.38%
TFM The Fresh Market ... 31.00 -5.10%
ZGNX Zogenix Inc. 2.03 -4.69%
INDL Direxion Daily In... 94.76 -4.47%
SDRL Seadrill Ltd. 37.95 -4.17%
EVRY Everyware Global ... 3.30 -4.07%
NBG National Bank of ... 3.56 -4.04%
ANR Alpha Natural Res... 3.49 -3.86%
MZOR Mazor Robotics Lt... 14.94 -3.24%
CALL magicjack Vocalte... 13.64 -3.12%
EPI Wisdomtree India ... 22.43 -3.07%
JDST Direxion Daily Jr... 11.72 -3.06%
PSTI Pluristem Therape... 2.93 -2.98%
AUDC Audiocodes Ltd. 6.84 -2.84%
CNHI Cnh Industrial N.... 9.90 -2.75%
ING Ing Groep N.v. Ad... 13.94 -2.52%
DAL Delta Air Lines 36.00 -2.44%
Read more at http://thestockmarketwatch.com/markets/pre-market/#0GrWhbIIe7tdbXf9.99
TRADER RADAR for week of 7/7 to 7/11 ECONOMIC and EARNINGS AHEAD
Monday, July 7
US Economics (Time Zone: EST)
No major reports scheduled
11:00 Fed to purchase $2.5bln-$3.25bln notes in 7 to 10-year range
11:30 Treasury selling $25bln 3-month bills, $23bln 6-month bills
Global Economics (Time Zone: GMT)
05:00 JPY Leading Index (MAY P)
05:00 JPY Coincident Index (MAY P)
06:00 EUR German Industrial Production (MAY)
14:00 CAD Ivey Purchasing Managers Index (JUN)
23:50 JPY Trade Balance (MAY)
23:50 JPY Bank Lending (JUN)
Earnings
No reports scheduled
Tuesday, July 8
US Economics (Time Zone: EST)
10:00 JOLTS Job Openings (May) - prior 4455
3:00 Consumer Credit (May) - expected $19.05B, prior $26.847B
11:00 Fed to purchase $1bln-$1.25bln bonds in 23 to 30-year range
11:30 Treasury selling 4-week bills
1:00 Treasury selling $27bln 3-year notes
Fedspeak
1:00pm Lacker (hawk, nonvoter) speaks on economy in North Carolina
1:45pm Kocherlakota (dove, voter) speaks on monetary policy in Minneapolis
Global Economics (Time Zone: GMT)
JPY Eco Watchers Survey (JUN)
01:30 AUD NAB Business Confidence (JUN)
06:00 JPY Bankruptcies (JUN)
06:00 EUR German Trade Balance (MAY)
08:30 GBP Industrial Production (MAY)
08:30 GBP Manufacturing Production (MAY)
14:00 GBP NIESR GDP Estimate (JUN)
Earnings
After
Bob Evans Farms (BOBE)
Alcoa (AA)
Wednesday, July 9
US Economics (Time Zone: EST)
7:00 MBA Mortgage Applications
10:30 Crude Oil Inventories
2:00 Fed Releases FOMC meeting minutes (June 17-18 meeting)
1:00 Treasury selling $21bln 10-year notes (2nd reopening)
Global Economics (Time Zone: GMT)
AUD Westpac Consumer Confidence (JUL)
01:30 CNY Producer Price Index (JUN)
01:30 CNY Consumer Price Index (JUN)
06:00 JPY Machine Tool Orders (JUN P)
12:15 CAD Housing Starts (JUN)
22:30 NZD Business NZ Performance of Manufacturing Index (JUN)
23:50
Earnings
No reports scheduled
Thursday, July 10
US Economics (Time Zone: EST)
08:30 Initial Jobless Claims - prior 315K
08:30 Continuing Claims - prior 2579K
10:00 Wholesale Inventories - exp 0.6%, prior 1.1%
10:30 EIA Natural Gas Storage Change
11:00 Fed to purchase $450m-$600m TIPS in 4 to 30-year range
1:00 Treasury selling $13bln 30-year bonds (2nd reopening)
Fedspeak:
1:15pm George (hawk, nonvoter) speaks on US economy in Oklahoma
Global Economics (Time Zone: GMT)
JPY Machine Orders (MAY)
JPY Japanese Investors Purchases of Foreign Stocks and Bonds
CNY New Yuan Loans (JUN)
CNY Aggregate Financing RMB (JUN)
CNY Trade Balance (JUN)
01:30 AUD Unemployment Rate (JUN)
05:00 JPY Consumer Confidence Index
08:00 EUR ECB Publishes Monthly Report
08:30 GBP Trade Balance (MAY)
11:00 GBP BOE Rate Decision (JUL)
11:00 GBP BOE Asset Purchase Target (JUL)
12:30 CAD New Housing Price Index (MAY)
Earnings
Before:
Family Dollar (FDO)
Friday, July 11
US Economics (Time Zone: EST)
2:00 Monthly Budget Statement (JUN)
Fedspeak:
2:45pm Lockhart (dove, nonvoter) and Evans (dove, nonvoter) to speak in Jackson Hole, WY
Global Economics (Time Zone: GMT)
01:30 AUD Home Loans (MAY)
06:00 EUR German Consumer Price Index (JUN F)
08:30 GBP Construction Output (MAY)
12:30 CAD Unemployment Rate (JUN)
Earnings
Before
Wells Fargo (WFC)
Read more: http://www.minyanville.com/business-news/markets/articles/economics-earnings-reports-economic-data-earnings/7/3/2014/id/55476#ixzz36R7ayMh7
good morning
data:
ICSC-Goldman Store Sales
[Report][Bullet7:45 AM ET
Charles Plosser Speaks
8:05 AM ET
Redbook
[Bullet8:55 AM ET
FHFA House Price Index
[Report][Bullet9:00 AM ET
S&P Case-Shiller HPI
[Report][djStar]9:00 AM ET
New Home Sales
[Report][Star]10:00 AM ET
Consumer Confidence
[Report][djStar]10:00 AM ET
Richmond Fed Manufacturing Index
[Report][Bullet10:00 AM ET
State Street Investor Confidence Index
[Bullet10:00 AM ET
4-Week Bill Auction
[Bullet11:30 AM ET
52-Week Bill Auction
[Bullet11:30 AM ET
2-Yr Note Auction
[Bullet1:00 PM ET
William Dudley Speaks
2:00 PM ET
John Williams Speaks
6:30 PM ET
Frontrunning:
The Kerry Konfusion Kontinues: Kerry urges Kurds to save Iraq from collapse (Reuters)
Because the recovery: Avon to Cut 600 Jobs as CEO McCoy Seeks to Trim Expenses (BBG)
Iraqi Parties Pressure Prime Minister Nouri al-Maliki to Step Down (WSJ)
Ukraine Rebels Call Cease-Fire to Match Government Truce (BBG)
IRS accused of obstruction over lost emails in Tea Party affair (Reuters)
IRS chief scorched as 'liar' (WND)
Big Investors Missed Stock Rally (WSJ)
U.K. Jury Finds Coulson Guilty of Conspiracy to Intercept Phone Voice-Mail Messages (WSJ)
HSBC to halve countries served by private bank, sells assets (Reuters)
Bond Market Has $900 Billion Mom-and-Pop Problem When Rates Rise (BBG)
Egypt's president says will not interfere in judicial rulings (Reuters)
Goodbye Boeing "durable orders": Officials at Ex-Im Bank Face Investigations (WSJ)
Who Gets Into NYC's Elite Schools? Wrong Mix of Kids, De Blasio Says, Fighting Test (BBG)
Apple’s Big IPhones Said to Start Production Next Month (BBG)
Iran seeks to resolve HSBC freeze on some trade financing (Reuters)
Ex-Millennium Fund Manager Gets Four Years in Prison (BBG)
Overnight Media Digest
WSJ
* Avon Products Inc plans to reduce its headcount by an additional 600 positions, largely in its corporate staff and North America business, part of the beauty-products company's continuing turnaround efforts. (http://on.wsj.com/1nZ7bEi)
* Seven major auto makers on Monday disclosed they combined would recall millions of vehicles equipped with air bags that could explode under certain circumstances. The moves expand on earlier efforts to find and fix potentially defective air bag inflators made by Takata Corp and highlight the challenges for auto makers to contain mass recalls. (http://on.wsj.com/1uZISqS)
* Amazon.com Inc has reversed a halt on preorders of movie discs from Time Warner Inc's Warner Bros studio as the two sides near a resolution to a pricing dispute, according to people familiar with the matter. (http://on.wsj.com/1sABnea)
* The head of Delta Air Lines Inc is expected to back the Export-Import Bank of the United States providing some support for sales of Boeing Co's biggest jets, softening his stance even as the agency's political critics step up a campaign to have it abolished. (http://on.wsj.com/1wq8PT4)
* Abbott Laboratories agreed to acquire Russian drug maker Veropharm for up to $495 million, a deal that would give the U.S. pharmaceutical company a manufacturing presence in that country. (http://on.wsj.com/UD9HpD)
* Payments business Comdata Inc is fielding interest from potential buyers after filing for an initial public offering earlier this year, according to people familiar with the matter. (http://on.wsj.com/1sAGomX)
FT
The US secretary of state John Kerry is scrambling to head off the break-up of the country by a surging rebel alliance and has called on Iraq's leaders to immediately form a new government that includes all the country's political and religious factions.
Tony Blair is apparently attempting to expand his role as a behind-the-scenes business and political broker in the Middle East and is looking to open an office in Abu Dhabi, the increasingly assertive oil-rich emirate.
Britian's Labour party will target big outsourcing companies if it wins the election and try to reduce their role in delivering the government's back-to-work programme.
Emirates Airline has said it would take a fresh look at the case for buying Airbus long-range passenger jets, in a head-to-head contest with Boeing's 787 Dreamliner, giving Airbus a second chance to sell its new A350 aircraft to the fast-growing Gulf carrier.
Poland's foreign minister has claimed in a secretly taped conversation that the British Prime Minister David Cameron had "messed up" his handling of the EU.
NYT
* Dean Foods Co has been asked to supply documents to the Federal authorities as part of an investigation into well-timed trades placed by the championship golfer Phil Mickelson and the well-known sports gambler William Walters. (http://nyti.ms/1sAH1wG)
* Seven automakers said that they were recalling more than three million vehicles worldwide because their air bags, made by Takata Corp, could rupture and send debris flying inside a car. The move is the latest in a series of recalls related to air bags made by Takata, one of the world's top automotive supply firms, which has run afoul of regulators and prosecutors. (http://nyti.ms/1wqeqsx)
* The Supreme Court on Monday endorsed the Obama administration's efforts to regulate greenhouse gas emissions from sources like power plants, even as it criticized what it called the administration's overreaching. The decision is one in a recent string of rulings upholding the Environmental Protection Agency's authority to issue Clean Air Act regulations to curb climate change, and the agency celebrated the decision. (http://nyti.ms/1iAygyj)
* Three technology stock traders have left the Boston office of Steven Cohen's nearly $10 billion family office over the last week in a new round of defections at a firm that is still dealing with the fallout from a significant insider trading investigation. (http://nyti.ms/1rsFJPW)
* Allergan Inc told its shareholders on Monday not to hand over any stock to Valeant Pharmaceuticals International Inc, which last week offered to exchange $72 in cash and 0.83 of a Valeant share for each unit of Allergan stock. (http://nyti.ms/T4mQH4)
* Goldman Sachs Group Inc has been hired by Shire PLC as the London-listed drug maker confronts a takeover offer, people briefed on the matter told the New York Times. (http://nyti.ms/1iAzfyy)
Canada
THE GLOBE AND MAIL
* A magnitude-8.0 earthquake was felt in communities along Alaska's sparsely populated Aleutian Islands on Monday but there were no immediate reports of damage. All tsunami advisories have been cancelled following the earthquake. (bit.ly/1lm4PQ0)
* Ontario Premier Kathleen Wynne is splitting her finance department in half, appointing a powerful minister whose sole job is to wrestle down the massive deficit and deal with record-high debt. (bit.ly/1pHDZ6i)
Reports in the business section:
* South Africa might be on the brink of recession and refusing to sign any foreign investment treaties these days but it will remain the linchpin of Canada's economic strategy on the African continent, International Trade Minister Ed Fast said. (bit.ly/1sAZ85J)
NATIONAL POST
* Com Dev International Ltd, a Canadian space company, is seeking millions of dollars in compensation after the Conservative government scuttled the launch of a satellite because it was scheduled to be sent into orbit on a Russian rocket. (bit.ly/1meodyw)
FINANCIAL POST
* Bell Media Inc plans to lay off about 5 percent of its Toronto workforce due to "financial pressure" in its advertising and subscription TV services. (bit.ly/1wqYhmG)
* The Canada Pension Plan Investment Board is making its first infrastructure investment in India by taking a $332-million stake in a toll road company. CPPIB will invest in L&T Infrastructure Development Projects Ltd in two tranches through a wholly owned subsidiary. (bit.ly/1wr0myW)
China
SOUTH CHINA MORNING POST
-- Hong Kong's former central banker Joseph Yam Chi-kwong has warned that the city could lose its status as China's top financial centre if political developments unnerve the country's leaders. Hong Kong Exchanges and Clearing Chairman Chow Chung-kong weighed in by warning that the increasingly tense political atmosphere could shake the confidence of international investors. (bit.ly/1qFGR5n)
-- Up to 40 per cent of cyber attacks on the website used to run Occupy Central's unofficial plebiscite on electoral reform came from computers registered to mainland firms in Hong Kong, said an IT expert who advised the poll's organisers. (bit.ly/1j9eHZ1)
-- Hong Kong entrepreneur Allan Zeman revealed that it was the government that was forcing him out as Ocean Park chairman. Zeman, who made his name establishing the Lan Kwai Fong nightlife district, said he was sure the government knew he wanted to continue in the post he had occupied for 11 years. (bit.ly/1jKbEq4)
THE STANDARD
-- Beijing knows the views of Hong Kong people on visits by mainlanders but has not reached any decision, Hong Kong's Secretary for Commerce and Economic Development Gregory So Kam-leung said. (bit.ly/UCvcaj)
-- An extra HK$9 billion ($1.16 billion) a year will be required if building of the third runway at Chek Lap Kok extends beyond 2023, the Airport Authority warned. The authority estimated the budget for the third runway at HK$136.2 billion when it announced its master plan for the project in June 2011. (bit.ly/1qtsqz3)
-- A total of 117 market participants will be ready for Shanghai Hong Kong Stock Connect when it is launched in October and that will account for 86 percent of the total amount of stock market transactions, Hong Kong Exchanges and Clearing said. (bit.ly/1nzmWyE)
HONG KONG ECONOMIC JOURNAL
-- Printer and publisher Hong Kong Economic Times Holdings Ltd said revenue rose 3 percent to HK$1.07 billion ($138.04 million) for the year ended March while profit plunged 55 percent to HK$28.1 million without any one-off gain.
HONG KONG ECONOMIC TIMES
-- Mainland online KTV operator Tiange Group (IPO-TIGP.HK) is expected to raise up to HK$1.6 billion ($206.41 million) in an initial public offering in Hong Kong, selling new shares in a range of HK$4.50 to HK$5.3 apiece, according to a term sheet.
MING PAO DAILY NEWS
-- Hong Kong recorded an average rent of HK$22.9 per sq ft for the city's 85 residential developments in May, up 1.3 percent from April's HK$22.6 per sq ft in its biggest gain since July 2013, according to property agency Centaline.
APPLE DAILY
-- Privately held Chow Tai Fook Enterprises and Far East Consortium said they would team up with Australian casino operator Echo Entertainment to bid for a resort and casino project at Brisbane in Australia.
Britain
The Telegraph
LENDERS PREDICT MORTGAGE APPROVALS WILL FALL IN THE COMING MONTHS
(http://bit.ly/1uZigpV)
Bank of England's quarterly credit conditions survey suggests lenders are becoming more cautious ahead of an expected move by Governor Mark Carney and the Financial Policy Committee (FPC) to rein in the market.
BRITAIN'S NUCLEAR CLEAN-UP BILL SOARS TO 110 BLN STG
(http://bit.ly/1l4UPG2)
The bill for cleaning up Britain's nuclear waste has topped 110 billion pounds, after a 6.6 billion pound increase in the cost estimate for work required over the next 120 years.
The Guardian
ASOS TO MARK RETURN TO SELLING AFTER WAREHOUSE FIRE WITH HUGE SUMMER SALE
(http://bit.ly/1pclvNA)
Asos is launching a massive summer sale on Tuesday as it seeks to woo back customers affected by the fire in its main warehouse at the weekend.
UK FLIGHTS COULD BE HIT BY FRENCH AIR TRAFFIC CONTROLLERS' STRIKE
(http://bit.ly/1iAdNd6)
Passengers flying to France and beyond this week could face disruption as a strike by French air traffic controllers has forced airlines to cancel dozens of flights.
The Times
SMALL FIRMS SUE FOR RATE SWAP DAMAGES
(http://thetim.es/1rscM6N)
Thousands of small companies hit with huge losses because of the mis-selling of complex financial products have been "failed" by official compensation, according to a victims group, with affected businesses instead preparing to turn to the courts for redress.
SHIRE TALKS UP PROSPECTS TO FEND OFF BIDDER
(http://thetim.es/1iAdZZJ)
Shire waxed lyrical about the sales potential of its pipeline of drugs in development as the pharmaceuticals group shored up its defences against a 27 billion pound bid approach from AbbVie, its American rival.
The Independent
AA GROUP RAISES 1.4 BILLION STG IN LONDON FLOAT BUT SHARES SLUMP
(http://ind.pn/1nznTqE)
The roadside assistance group AA group was valued at 1.4 billion pounds as it joined the London Stock Exchange, completing one of the most anticipated flotations in recent years. However, despite the fanfare surrounding the float, shares slumped 7.2 percent below the 250p offer price.
BNP PARIBAS CLOSE TO $9 BILLION SETTLEMENT WITH US AUTHORITIES
(http://ind.pn/1jKduY5)
BNP Paribas, the French bank with 7500 staff in the UK, is expected to pay to $9 billion to settle allegations it broke US trade sanctions, according to reports.
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled today include:
FHFA house price index for April at 9:00--consensus up 0.5% for the month
S&P Case-Shiller 20-city composite index for April at 9:00--consensus up 11.4% y/y
New Home Sales for May at 10:00--consensus up 1.4% to 441K rate
Consumer confidence for June at 10:00--consensus 83.7
ANALYST RESEARCH
Upgrades
CGG SA (CGG) upgraded to Buy from Hold at Societe Generale
Hercules Technology (HTGC) upgraded to Outperform from Market Perform at Wells Fargo
IDEXX (IDXX) upgraded to Buy from Hold at Canaccord
Spirit Realty (SRC) upgraded to Buy from Neutral at BofA/Merrill
Wisconsin Energy (WEC) upgraded to Outperform from Market Perform at Wells Fargo
Downgrades
Aviva (AV) downgraded to Neutral from Buy at UBS
Cabot Oil & Gas (COG) downgraded to Equal Weight from Overweight at Morgan Stanley
Covidien (COV) downgraded to Market Perform from Outperform at Leerink
Dr Pepper Snapple (DPS) downgraded to Neutral from Buy at Citigroup
Enanta (ENTA) downgraded to Neutral from Outperform at RW Baird
ITG (ITG) downgraded to Neutral from Overweight at JPMorgan
IntercontinentalExchange (ICE) downgraded to Market Perform at Wells Fargo
MICROS (MCRS) downgraded to Sector Perform from Outperform at RBC Capital
National Retail Properties (NNN) downgraded to Neutral from Buy at BofA/Merrill
Web.com (WWWW) downgraded to Neutral from Buy at B. Riley
Initiations
Advance Auto Parts (AAP) initiated with an Overweight at Morgan Stanley
AerCap (AER) initiated with a Buy at UBS
Air Lease (AL) initiated with a Neutral at UBS
AutoZone (AZO) initiated with an Equal Weight at Morgan Stanley
Bed Bath & Beyond (BBBY) initiated with an Underweight at Morgan Stanley
Best Buy (BBY) initiated with an Overweight at Morgan Stanley
Charles River Labs (CRL) initiated with a Neutral at SunTrust
Chimerix (CMRX) initiated with a Buy at Brean Capital
Costco (COST) initiated with an Overweight at Morgan Stanley
Covance (CVD) initiated with a Neutral at SunTrust
Cyberonics (CYBX) initiated with a Buy at Sterne Agee
Dick's Sporting (DKS) initiated with an Underweight at Morgan Stanley
Ducommun (DCO) initiated with a Hold at Topeka
GNC Holdings (GNC) initiated with an Equal Weight at Morgan Stanley
Home Depot (HD) initiated with an Equal Weight at Morgan Stanley
Johnson Controls (JCI) initiated with a Neutral at Susquehanna
LeMaitre (LMAT) initiated with a Buy at Stifel
Lennox (LII) initiated with a Neutral at Susquehanna
Lowe's (LOW) initiated with an Equal Weight at Morgan Stanley
Lumber Liquidators (LL) initiated with an Equal Weight at Morgan Stanley
O'Reilly Automotive (ORLY) initiated with an Overweight at Morgan Stanley
Office Depot (ODP) initiated with an Equal Weight at Morgan Stanley
PAREXEL (PRXL) initiated with a Buy at SunTrust
PetSmart (PETM) initiated with an Underweight at Morgan Stanley
Ply Gem (PGEM) initiated with an In-Line at Imperial Capital
Quintiles (Q) initiated with a Neutral at SunTrust
Ruckus Wireless (RKUS) initiated with a Market Perform at Wells Fargo
Sensata (ST) initiated with an Overweight at Atlantic Equities
Target (TGT) initiated with an Underweight at Morgan Stanley
Tower Semiconductor (TSEM) initiated with an Outperform at Imperial Capital
Tractor Supply (TSCO) initiated with an Equal Weight at Morgan Stanley
Williams-Sonoma (WSM) initiated with an Overweight at Morgan Stanley
COMPANY NEWS
Micron (MU) said revenues for both DRAM and NAND Flash products were down slightly for Q3 vs. Q2. The company said it has no plans to expand wafer production in 2015
Avon Products (AVP) announced a workforce reduction of approximately 600
Google (GOOG) entered domain registration with new beta website (WWWW, WIX, VRSN, NSR)
KKR (KKR) to pay EUR 417M to take 33% stake in Acciona's renewables business
Harbinger (HRG) offered $750M in cash for Central Garden & Pet (CENT, CENTA) pet segment
Zhaopin Ltd (ZPIN) said Tiger Global reported a 18.6% passive stake in the company.
Abbott (ABT) said it would acquire Russian drug maker Veropharm for $295M-$495M
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Micron (MU), Sonic (SONC)
Giga-tronics (GIGA) reports Q4 EPS (25c) vs.(31c)
Adamis Pharmaceuticals (ADMP) reports FY EPS ($1.22)
Xcel Energy (XEL) backs FY14 EPS view $1.90-$2.05, consensus $2.00
Sonic (SONC) sees FY14 EPS up 14%-15%, consensus 83c
NEWSPAPERS/WEBSITES
Dean Foods (DF) subpoenaed in insider trading probe, WSJ reports
Amazon (AMZN), Warner Bros. (TWX) near resolution of pricing dispute, WSJ reports
Shire S(HPG) hires Goldman (GS) as it confronts takeover offer, NY Times reports
Apple (AAPL) to mass produce 12-inch MacBook Air in Q3, DigiTimes says
Seven autoamkers (F, FIATY, TM, NSANY, HMC) to repair air bag problems in vehicles, Detroit News says
American Apparel (APP) co-chairman says firm not up for sale, Reuters reports
Microsoft (MSFT) making foray into quantum computing, NY Times reports
Allergan (AGN) CEO says firm targeting upped earnings guidance, Reuters says
SYNDICATE
AmSurg (AMSG) files to sell 8.5M shares of common, 1.25M shares of convert preferred
Atlanticus Holdings (ATLC) announces $100M 'modified dutch auction'
Brixmor (BRX) files to sell 25M shares of common stock for holders
Descartes Systems (DSGX) files to sell 9.5M shares of common stock
Diamondback Energy (FANG) files to sell 2M shares for holders
G-III Apparel (GIII) files to sell 1.5M shares of common stock
Hilton (HLT) files to sell 90M shares for holders
KNOT Offshore Partners (KNOP) files to sell 4.6M common units
Prothena (PRTA) files to sell $115M of ordinary shares
Vince Holding (VNCE) files to sell 3.55M shares for holders
Xunlei (XNET) 7.315M share IPO priced at $12.00
Average:
0
Your rating: None
Pre Market Movers
Top Gaining Stocks
Price %Change
XGTI xG Technology Inc... 2.91 57.30%
VRTX Vertex Pharmaceut... 100.00 50.13%
OXGN Oxigene Inc. 3.45 31.68%
DNDN Dendreon Corporat... 2.29 13.37%
CBOE Cboe Holdings Inc... 53.20 8.06%
JNUG Direxion Daily Jr... 28.88 5.48%
RUSL Direxion Daily Ru... 22.00 4.76%
ZPIN Zhaopin Ltd Adr (... 15.28 4.44%
HCLP Hi-crush Partners... 59.00 3.73%
EWO ishares Incorpora... 20.78 3.18%
FRO Frontline 3.01 3.08%
SPPI Spectrum Pharmace... 8.50 3.03%
HL Hecla Mining Co. ... 3.40 3.03%
NAO Nordic American O... 19.32 2.99%
NUGT Direxion Daily Go... 46.80 2.77%
AVGO Avago Technologie... 73.12 2.64%
EXK Endeavour Silver ... 5.55 2.59%
KNDI Kandi Technologie... 13.40 2.37%
IBB ishares Trust Nas... 258.10 2.05%
WFC Wells Fargo & Co.... 54.00 1.93%
Top Losing Stocks
Price %Change
PLXT Plx Technology In... 6.00 -7.41%
KNOP Knot Offshore Par... 27.94 -6.52%
JDST Direxion Daily Jr... 12.00 -5.81%
LORL Loral Space and C... 69.00 -5.70%
BBN Blackrock Build A... 20.68 -4.37%
RUSS Direxion Daily Ru... 9.96 -4.05%
CTRP Ctrip.com Interna... 57.00 -3.52%
JRJC China Finance Onl... 4.12 -3.06%
SYT Syngenta AG Adr (... 77.24 -2.95%
GRPN Groupon Inc. 6.32 -2.62%
BRX Brixmor Property ... 21.74 -2.60%
CMI Cummins Inc. 153.42 -2.58%
WAG Walgreen Co. 71.88 -2.51%
SHPG Shire Plc (jersey... 222.04 -2.36%
POWR Powersecure Inter... 7.90 -2.35%
SNN Smith & Nephew Pl... 88.93 -2.18%
DQ Daqo New Energy A... 31.00 -2.02%
CAM Cameron Internati... 66.54 -1.79%
YNDX Yandex N.v. 34.99 -1.71%
QUNR Qunar Cayman Isla... 23.50 -1.67%
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