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From Briefing.com: The major indices spent Tuesday retracing some of their recent gains, none more so than the Dow Jones Industrial Average, which was done in by the negative response to IBM's (IBM 163.07, -10.15, -5.9%) unimpressive second quarter earnings report.

As the second highest-priced stock in the price-weighted average, Big Blue's big decline had an outsized impact on the Dow, which dropped 181 points, or 1.0%, on the day.

IBM also weighed on the broader market, yet relative strength in the energy (+0.1%) and financial (-0.1%) sectors enabled the S&P 500 (-0.4%) to turn in a better showing, albeit a negative one, than the Dow.

Similarly, the Nasdaq Composite (-0.2%) fared comparatively better, drawing some offsetting support once again from some of its most influential components, namely Microsoft (MSFT 47.28, +0.36, +0.8%), Facebook (FB 98.39, +0.48, +0.5%), and Qualcomm (QCOM 65.14, +1.35, +2.1%).


The relative strength in those components helped the S&P 500 information technology sector (-0.5%) contain its losses, yet the weight of IBM's loss and that of Apple (AAPL 130.75, -1.32, -1.0%) which traded lower ahead of its earnings report after the close, caused the sector to underperform the market by a small margin on Tuesday.

Notable news items from sector components included the following:

Accenture (ACN 100.39, -0.33, -0.3%): To acquire EnergyQuote JHA, a Pan-European energy management and procurement services provider; terms not disclosed

Akamai Technologies (AKAM 72.55, -0.93, -1.3%): Company and Telecom Italia (TI) announced a partnership agreement to offer Content Delivery Network and web optimization services and solutions to Italian companies. The initiative includes Telecom Italia offering and marketing, within the Italian market, of Akamai's suite of services for the distribution of video and Internet content.

Apple (AAPL 130.75, -1.32, -1.0%): After Tuesday's close, reported Q3 (Jun) earnings of $1.85 per share, which was four cents ahead of Street expectations. Revenues rose 32.5% year/year to $49.6 bln, which was slightly above estimates. iPhone units totaled 47.5 mln versus 35.2 mln last year, which was close to estimates that approximated 48 million. Q3 gross margins were 39.7% versus guidance of 38.5-39.5% and 39.4% last year. For Q4, sees revenues of $49-51 bln. The high end of that range is just under analysts' average expectation. Expects gross margin of 38.5-39.5%.... Shares of AAPL were trading 7.0% lower in after hours action.

Corning Incorporated (GLW 18.75, -0.16, -0.9%): Company announced that ZTE Corporation has chosen Antimicrobial Corning Gorilla Glass for its newest flagship smartphone in China, the ZTE AXON.

Hewlett-Packard (HPQ 30.66, +0.21, +0.7%): Announced that it has signed a 12-year power purchase agreement for 112 MW of wind power with SunEdison (SUNE). The 112 MW of locally generated wind electricity is sufficient to power 100 percent of HP's Texas-based data center operations

Microsoft (MSFT 47.28, +0.36, +0.8%): After Tuesday's close, reported Q4 (Jun) earnings of $0.62 per share, excluding $1.02/share in restructuring and impairment charges, which was better than analysts' average expectation. Revenues fell 5.1% year/year to $22.18 bln, also topping estimates. Devices and Consumer revenue grew 8% (up 11% in constant currency) to $9.0 billion (Office 365 Consumer subscribers increased to over 12.4 million, up 35% sequentially). Commercial revenue grew 5% (up 7% in constant currency) to $12.8 billion (Commercial cloud revenue grew 106% (up 111% in constant currency) driven by Office 365, Azure and Dynamics CRM Online, and is now on an annualized revenue run rate of $6.3 billion... Shares of MSFT were trading 3.8% lower in after hours action.

Qualcomm (QCOM 65.14, +1.35, +2.1%): The Information, citing people inside and outside of Qualcomm, reported that Qualcomm may announce thousands of layoffs this week. Separately, The Wall Street Journal, citing people familiar with the matter, reported that Qualcomm is likely to conduct a strategic review of its operations that might possibly involve a breakup of the company.

Yahoo! (YHOO 39.73, +0.19, +0.5%): After Tuesday's close, reported Q2 (Jun) earnings of $0.16 per share, which was short of analysts' average expectation. Revenues rose 0.3% year/year to $1.04 bln, slightly ahead of the average estimate. Q2 Adjusted EBITDA $262 mln versus guidance in the range of $240-260 mln. Q2 GAAP Search revenue +15% year-over-year; Q2 GAAP Display Revenue +15% year-over-year; Q2 GAAP Mavens Revenue (Growth investments that include mobile, video, native, and social) +60% year-over-year; Q2 Mobile GAAP Revenue +55% year-over-year. For Q3, sees revenue excluding traffic acquisition costs in the range of $1.00-1.04 bln. The high end of the rage is below analysts' average estimate. Non-GAAP operating income is expected to be between $50 mln and $90 mln... Shares of YHOO were trading 1.2% lower in after hours action.

Elsewhere in the technology space:

Alcatel-Lucent (ALU 3.59, +0.03, +0.8%): To sell its EU industrial site to Selha Group; terms not disclosed

Applied Micro Circuits (AMCC 6.02, _0.03, +0.5%): Company announced that TSMC, a semiconductor foundry, will use its X-Gene processor technology as a cost and power saving option for implementing an open source Memcached solution.

Micrel (MCRL 13.96, 0.00, unch): Announced that it intends to delist its common stock from Nasdaq, in connection with its merger with Microchip (MCHP 43.80, -0.19, -0.4%); first step of merger expected to be completed in August, 2015.

Nokia (NOK 6.75, -0.03, -0.4%): Bloomberg, citing people familiar with the matter, reported that Nokia might be very close to Maps unit sale to group of German luxury-car makers.

SAP AG (SAP 72.80, -1.66, -2.2%): Before Tuesday's open, reported Q2 (Jun) earnings of 0.80 per share, which was shy of analysts' average expectation. Revenues rose 19.7% year/year to 4.97 bln, which was ahead of expectations. Based on the strong momentum in SAP's cloud business, the company expects full-year 2015 non-IFRS cloud subscriptions and support revenue to be in a range of 1.95 - 2.05 billion at constant currencies (2014: 1.10 billion). The upper end of this range represents a growth rate of 86% at constant currencies. Concur and Fieldglass are expected to contribute approximately 50 percentage points to this growth. In addition, the company expects full year 2015 non-IFRS cloud and software revenue to increase by 8% - 10% at constant currencies (2014: 14.33 billion) and full-year 2015 non-IFRS operating profit to be in a range of 5.6 billion - 5.9 billion at constant currencies (2014: 5.64 billion).

VMware (VMW 83.19, -0.83, -1.0%): After Tuesday's close, reported Q2 (Jun) earnings of $0.93 per share, excluding non-recurring items, which was ahead of analysts' average estimate. Revenues rose 4.4% year/year to $1.52 bln, which was shy of expectations. License revenues for the second quarter were $638 million, an increase of 4% from the second quarter of 2014, or up 9% year-over-year in constant currency.

YY, Inc. (YY 58.84, -0.46, -0.8%): Jun Lei, David Li disclose 17.9% active stake in 13D filing; have entered into a consortium agreement. The filing states, "On July 9, 2015, Mr. Lei and Mr. Li submitted a non-binding proposal to the Company's board of directors related to a proposed acquisition of all of the outstanding Shares of the Company not already beneficially owned by them for $68.50 in cash per ADS, or $3.425 in cash per Share of the Company. On July 20, 2015, Mr. Lei and Mr. Li entered into a consortium agreement, under which the Consortium Members have agreed to, among other things, form a consortium to work exclusively with each other to undertake a transaction to acquire all the outstanding Shares of the Company other than Shares owned by the Consortium Members or their affiliates."

In industry news, "IDC predicts that the public cloud computing will reach almost $70 billion in 2015 worldwide, with the top 5 verticals (discrete manufacturing, banking, professional services, process manufacturing, and retail) accounting for ~45% of the total spend for the market.The major opportunities for cloud within verticals come from the development of intelligent industry solutions.

Analyst Action:

ASML Holding (ASML 100.90, -0.10, -0.1%): upgraded to Accumulate from Neutral at SNS Securities

eBay (EBAY 28.60, +0.03, +0.1%): downgraded to Hold from Buy at Stifel

Facebook (FB 98.39, +0.48, +0.5%): added to US 1 List at BofA/Merrill

Newport (NEWP 16.04, +0.05, +0.3%): target lowered to $20 from $24 at Needham

Sanmina (SANM 21.28, +2.25, +11.8%): upgraded to Neutral from Underperform at Longbow(Disclosure: Briefing.com has a business relationship with Yahoo!)

5:04 pm Linear Tech misses by $0.02, misses on revs; guides Q1 revs below consensus; stock drops to $40/share following earnings/guidance (LLTC) : Reports Q4 (Jun) earnings of $0.54 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.56; revenues rose 3.9% year/year to $379.5 mln vs the $385.24 mln consensus. EPS decreased on a sequential basis primarily due to a higher effective tax rate of 25.25% compared to 22.50% in the third quarter of fiscal 2015.

Co issues downside guidance for Q1, sees Q1 revs falling 7-12% sequentially, which equates to ~$334-352.9 mln vs. $393.61 mln Capital IQ Consensus Estimate."As we indicated last quarter, the June quarter is typically a strong quarter for us, though we had some concern with global macroeconomic conditions that tempered our expectations. As the quarter progressed, these conditions appeared to worsen and bookings slowed considerably. The bookings decline was broad based across all major markets and regions. Our largest market, Industrial, suffered the largest decline followed by the Computer market which appears to be weak for the entire industry. In the early weeks of the current quarter, bookings have improved.""However, due to the decline in bookings received in the June quarter, coupled with a sluggish global economic environment, we are preparing for a difficult first fiscal quarter. We are forecasting our revenue to decline sequentially in the 7-12% range.""We are optimistic that this will be a short cycle and that this is temporary weakness- experienced while our customers react to global uncertainties and adjust their inventories to match their cautiousness and end customer demand. Design activity remains robust and we see many opportunities where new, innovative products require our innovative analog solutions."
4:34 pm Apple beats by $0.04, reports revs in-line, misses iPhone estimates; guides Q4 revs just below consensus, margins in-line (AAPL) :

Reports Q3 (Jun) earnings of $1.85 per share, $0.04 better than the Capital IQ Consensus of $1.81; revenues rose 32.5% year/year to $49.6 bln vs the $49.39 bln consensus and $46-48 bln guidance. iPhones 47.5 mln vs ~48 mln ests vs 35.2 mln last yeariPads 10.9 mln vs ~10.8 mln ests vs 13.3 mln last yearMacs 4.8 mln vs ~4.7 mln ests vs ~4.4 mln last year Watches (not disclosed, as expected) ests 4.1 mlnAAPL sees Q4 gross margins of 38.5-39.5% vs ~39% ests vs 38% last year.Q3 gross margins of 39.7% vs ~39.5% ests (guidance 38.5-39.5% vs 39.4% last year). Co issues downside guidance for Q4, sees Q4 revs of $49-51 bln vs. $51.03 bln Capital IQ Consensus; gross margin 38.5-39.5% vs. ~39% ests.
Apple typically guides conservatively.
4:32 pm O2Micro announces it issued a patent for a significant Battery Protection invention (OIIM) :

4:14 pm Yahoo! misses by $0.03, beats on revs (YHOO) : Reports Q2 (Jun) earnings of $0.16 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.19; revenues rose 0.3% year/year to $1.04 bln vs the $1.03 bln consensus.

Q2 Adjusted EBITDA $262 mln, guidance in the range of $240-260 mln Q2 GAAP Search revenue +15% y/y, Q1 +20% y/y Q2 GAAP Display Revenue +15% y/y, Q1 +2% y/yQ2 GAAP Mavens Revenue (Growth investments that include mobile, video, native, and social) +60% y/y, Q1 +58% y/y Q2 Mobile GAAP Revenue +55% y/y, Q1 +61% y/yQ2 PC GAAP Revenue +5% y/y, Q1 -1.7% y/yQ2 Global SearchNumber of Paid Clicks +13% y/y, Q1 +21% y/y Price Per click +4% y/y, Q1 +3% y/yQ2 Global DisplayNumber of Ads Sold +9% y/y, Q1 +29% y/yPrice per Ad +10% y/y, Q1 -17% y/y
4:14 pm Microsoft beats by $0.05, reports revs in-line (MSFT) : Reports Q4 (Jun) earnings of $0.62 per share, excluding $1.02/share in restructuring and impairment charges, $0.05 better than the Capital IQ Consensus of $0.57; revenues fell 5.1% year/year to $22.18 bln vs the $22.06 bln consensus.


Device and Consumer:
Licensing revenues of $3.23 bln versus guidance of $3.2-3.4 bln
Computing and Gaming Hardware revenues of $1.93 bln versus guidance of $1.5-1.6 bln
Total Xbox revenue grew 27% based on strong growth in consoles, Xbox Live transactions and first party gamesPhone Hardware revenues of $1.23 bln versus guidance of $1.3-1.4 bln Commercial:Licensing revenues of $10.45 bln versus guidance of $10.5-10.6 bln
Commercial cloud revenue grew 88% (up 96% in constant currency) driven by Office 365, Azure and Dynamics CRM Online and is now on an annualized revenue run rate of over $8 billion
4:12 pm Exponent beats by $0.01, reports revs in-line (EXPO) : Reports Q2 (Jun) earnings of $0.43 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.42; revenues rose 4.1% year/year to $75.3 mln vs the $75.76 mln consensus. Sees full year 2015 growth in revenues before reimbursements to be in the low single digits (consensus +5%) and EBITDA1 margin to be down approximately 50 basis points from the 25% achieved in 2014.

"We have previously indicated that we expected a major project to step down in the second half of 2015 to approximately half its run rate. As a result of a proposed resolution of this matter, our efforts going forward will be de minimis. While our underlying growth remains in the high single digits, it will be partially offset by the significant decline in this major project as well as our defense work. As a result, we expect full year 2015 growth in revenues before reimbursements to be in the low single digits and EBITDA1 margin to be down approximately 50 basis points from the 25% we achieved in 2014."
"We are optimistic about our long-term growth as our market position expands. We continue to be called upon to investigate the most significant accidents. We are also seeing strong growth in design consulting, regulatory support and risk management," concluded Dr. Johnston.

4:12 pm Illumina beats by $0.03, reports revs in-line; raises FY15 EPS in-line, reaffirms revs below consensus (ILMN) : Reports Q2 (Jun) earnings of $0.80 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.77; revenues rose 20.5% year/year to $539.4 mln vs the $542.12 mln consensus.

Co raises EPS guidance for FY15, sees EPS of $3.39-3.45, excluding non-recurring items, vs. $3.44 Capital IQ Consensus Estimate, from $3.36-3.42; continues to see FY15 revs growth of ~20%, which ~$2.23 bln vs. $2.26 bln Capital IQ Consensus Estimate.
4:11 pm GoPro beats by $0.09, beats on revs (GPRO) : Reports Q2 (Jun) earnings of $0.35 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus Estimate of $0.26; revenues rose 71.7% year/year to $419.9 mln vs the $396.3 mln consensus.

Non-GAAP gross margin came in at 46.4% vs 42.2% a year ago."With the introduction of HERO4 Session and HERO+ LCD, we've launched five new cameras in the past 10 months, exciting both new and existing customers and contributing to strong second quarter results...Our core business is enjoying terrific momentum as we charge forward into attractive adjacent markets."

4:11 pm iRobot beats by $0.16, beats on revs; guides Q3 below consensus; guides FY15 in-line; shares to resume trading at 16:30 ET (IRBT) : Reports Q2 (Jun) earnings of $0.24 per share, $0.16 better than the Capital IQ Consensus Estimate of $0.08; revenues rose 6.4% year/year to $148.8 mln vs the $144.6 mln consensus.

Co issues downside guidance for Q3, sees EPS of $0.20-0.24 vs. $0.56 Capital IQ Consensus Estimate; sees Q3 revs of $143-146 mln vs. $170.56 mln Capital IQ Consensus Estimate. Co issues in-line guidance for FY15, sees EPS of $1.25-1.35 vs. $1.33 Capital IQ Consensus Estimate; sees FY15 revs of $625-635 mln vs. $627.22 mln Capital IQ Consensus Estimate. "Based on our Q2 results and our outlook for the rest of 2015, we are reaffirming our full year expectations. Although Q2 was above expectations, this was primarily due to timing. Predicting individual quarterly results is challenging, but our over performance in Q2 alleviates some pressure on the second-half ramp."

4:10 pm : The stock market retreated on Tuesday with the Nasdaq Composite (-0.2%) backing away from yesterday's record close. However, the tech-heavy index held up relatively well considering the Dow (-1.0%) and S&P 500 (-0.4%) registered wider losses.

The price-weighted Dow Jones Industrial Average paced the retreat with IBM (IBM 163.07, -10.15) and United Technologies (UTX 102.67, -7.81) largely responsible for the underperformance. The second largest index member-IBM-lost 5.9% following its bottom-line beat that was aided by a lower tax rate while the company's year-over-year revenue showed the 13th consecutive quarterly decline.

Separately, United Technologies fell 7.1% after below-consensus revenue and lowered earnings guidance for the year overshadowed an earnings beat. In addition to pressuring the Dow, shares of UTX weighed on the industrial sector (-1.1%), which ended behind the remaining cyclical groups. Interestingly, the sector finished among the laggards even though transport stocks displayed relative strength, sending the Dow Jones Transportation Average higher by 0.7%.

Elsewhere among cyclical groups, the energy sector (+0.1%) tried to resist the market-wide pressure, but could only eke out a slim gain while crude oil rose 0.9% to $50.87/bbl. Also of note, the top-weighted technology sector (-0.5%) settled just behind the broader market.

Just like the energy sector, high-beta chipmakers surrendered the bulk of their gains during afternoon action with the PHLX Semiconductor Index narrowing its advance to 0.1%. As for large cap tech components, Apple (AAPL 130.71, -1.36) lost 1.0% ahead of its earnings report. Investors will be most interested in iPhone sales and the pace of sales growth, but the report should also provide an early look at Apple Watch sales. Apple is the top-weighted stock in the market-cap weighted S&P 500 (3.98%), the top-weighted stock in the market-cap weighted Nasdaq 100 (13.9%), and the fifth highest-priced stock in the price-weighted Dow Jones Industrial Average.

Over on the countercyclical side, health care (-0.4%) and consumer staples (-0.3%) settled near the broader market while telecom services (-1.7%) and utilities (-1.0%) underperformed throughout the session. The telecom sector ended at the bottom of the leaderboard as Verizon (VZ 46.97, -1.13) tumbled 2.4% despite reporting a bottom-line beat.

Treasuries made a brief appearance in the red this morning, but they rallied as stocks declined with the 10-yr yield falling three basis points to 2.34%.

Investors did not receive any economic data today, but tomorrow will include the release of the weekly MBA Mortgage Index at 7:00 ET, followed by the FHFA Housing Price Index for May, which will be reported at 9:00 ET. The day's data will be topped off with the Existing Home Sales report for June, which will cross at 10:00 ET (Briefing.com consensus 5.40 million).


Nasdaq Composite +10.0% YTD
Russell 2000 +4.2% YTD
S&P 500 +2.9% YTD
Dow Jones Industrial Average +0.5% YTD

DJ30 -181.12 NASDAQ -10.74 SP500 -9.07 NASDAQ Adv/Vol/Dec 1159/1.60 bln/1686 NYSE Adv/Vol/Dec 1225/762.3 mln/1857
3:35 pm :

The dollar index continued to remain weak today, which helped select commodities
Gold was not one of them. The precious metals slid lower today and finished the day with a modest loss of $3.50, closing at $1103.30/oz
However, in electronic trade, Aug gold fell below the $1100/oz
Sept silver ended the day unchanged at $14.78/oz
In other commodities, energy futures rose today, including oil, natural gas, heating oil and RBOB gasoline futures.
Natural gas closed pit trading $0.05 higher at $2.88/MMBtu and remains near today's high
WTI crude oil, however, pulled back from today's high, but finished $0.47 higher at $50.87/barrel

11:43 am Stocks/ETFs that traded to new 52 week highs/lows this session - New lows (271) outpacing new highs (142) (:SCANX) : Stocks that traded to 52 week highs: ABBV, ACGL, AF, AFG, AFSI, ALLB, ANAC, ASC, ATTU, ATVI, BCS, BF.A, BKU, BNCL, BOFI, BOH, BRKL, BSRR, BSTC, C, CASH, CATY, CBF, CBSH, CBU, CCL, CELG, CHRS, CME, COF, COT, CPRX, CRWN, CSGP, CSL, CUNB, CVBF, CYNO, DEPO, DERM, DPRX, EA, EEFT, EFII, ENH, EURN, EW, FB, FCF, FFIN, FHN, FITB, FIX, FNBC, FORTY, GAIN, GNRT, GTN, HAFC, HBAN, HCSG, HFWA, HOMB, HTBK, HTLF, IBP, INCR, INDB, ITRN, JAH, JHX, JRVR, LKFN, LKQ, MANH, MASI, MBFI, MBLY, MCO, MDLZ, MDSO, MLAB, MLM, MMSI, MMU, MTB, NEOG, NKE, NTRS, NVAX, NVR, NXST, OUTR, PAC, PLAY, PLMT, PNC, PNK, PNQI, POOL, POWR, PRE, PSCF, PSMT, PVTB, QLTY, RAI, RCL, RE, RLI, SBNY, SCHW, SFBS, SGU, SIVB, SKX, SNV, SRPT, STBA, SYF, SYK, TCX, THG, THOR, TSS, TTWO, UBSI, UCBI, UFPI, UHAL, USCR, VGR, VR, WAL, WASH, WD, WFC, WIFI, WIX, WSFS, WST, YDKN

Stocks that traded to 52 week lows: AA, ACV, AIQ, AMBR, AMID, ANDE, APA, APPS, AQXP, ARCI, ARP, ATI, AUDC, AWF, AXAS, AXE, BBK, BBOX, BCEI, BCX, BGR, BKH, BLT, BSM, BTG, BTZ, CAFD, CBA, CBK, CBT, CEM, CEN, CENX, CFX, CHK, CIK, CKH, CKP, CLF, CLIR, CLUB, CNP, CNS, COH, COMT, CPA, CPN, CPST, CRDS, CRK, CTIB, CTR, CVSL, DAVE, DCI, DCTH, DDD, DELT, DNN, DOM, DOV, DRQ, DSE, DSS, DTLK, DXM, ECT, EIP, EMC, EMES, EMR, ENLC, ENOC, ENSV, EOG, EOX, ESIO, ETP, EVA, EVEP, EXK, EXTR, FCO, FDML, FEI, FEN, FGP, FHCO, FHY, FLS, FMN, FRD, FREE, FSC, FSD, FTEK, FULL, FUND, GDF, GEF, GER, GGB, GGN, GHM, GIFI, GLRE, GMLP, GMZ, GNRC, GNT, GROW, GULTU, HCLP, HDNG, HERO, HI, HIO, HLX, HMSY, HOV, HRZN, HTCH, HTY, HUN, IAG, IO, IRR, ITRI, JHS, JMF, JMT, JOY, KATE, KED, KGC, KLIC, KMF, KMM, KPTI, KST, KYN, LF, LNCO, LOCO, LRAD, LRE, LSCC, LTRE, LXK, MAV, MDCA, MFM, MGH, MHI, MHY, MIE, MIL, MNTX, MTR, MUR, MVO, MXC, NADL, NAV, NCV, NCZ, NDP, NETE, NFJ, NMI, NML, NOR, NRG, NRP, NRT, NTAP, NTG, NUM, OAKS, OGE, OI, OII, OTEX, PCI, PDVW, PEO, PFN, PGH, PHF, PMD, PNF, POWI, PPC, PQ, PTXP, PULM, PWE, PX, PXD, QUAD, RAIL, RDEN, RKDA, RMT, RNO, RNWK, ROYL, RTTR, RVT, RXN, SA, SAFM, SCM, SD, SDR, SFM, SID, SJR, SKM, SMRT, SNI, SONS, SPW, SRSC, SRV, SSYS, SU, SUN, SVLC, SVVC, SWSH, SXE, SYNL, SYX, TAC, TC, TEO, THM, THTI, TKR, TMST, TOO, TRCO, TTF, TTP, TUES, TYG, UNFI, USDP, UTIW, VCF, VECO, VHI, VIA, VICL, VNR, VSI, VTN, VVUS, WAVX, WG, WGBS, WHZ, WLFC, WPCS, WY, XCO, XCRA, XRA, YLCO, ZINC

ETFs that traded to 52 week highs: FDN, IHI, IYF, IYG, IYH, UYG, XLF, XLY

ETFs that traded to 52 week lows: AMJ, IXC, KOL, THD, URA

7:38 am Verizon beats by $0.04, reports revs in-line; sees FY15 revs growth of at least 3% (VZ) :

Reports Q2 (Jun) earnings of $1.04 per share, $0.04 better than the Capital IQ Consensus of $1.00; revenues rose 2.4% year/year to $32.22 bln vs the $32.47 bln consensus. Co issues guidance for FY15, sees FY15 revs growth of at least 3% (to $130.9 bln vs. $131.34 bln Capital IQ Consensus, co guided for 4% growth in January).Verizon expects a higher year-over-year growth rate in Q3 than in Q2 (consensus +4.3%). These growth estimates exclude revenue from AOL. Wireless: 1.1 million net retail postpaid connections added in the quarter; retail postpaid churn of 0.90 percent, the lowest in three years; 109.5 million total retail connections; 103.7 million total retail postpaid connections. 5.3 percent year-over-year increase in total revenues; 34.0 percent operating income margin. 56.1 percent segment EBITDA margin on service revenues (non-GAAP), and 43.9 percent segment EBITDA margin on total revenues (non-GAAP).
7:35 am Manpower beats by $0.06, beats on revs; guides Q3 EPS in-line (MAN) : Reports Q2 (Jun) earnings of $1.33 per share, $0.06 better than the Capital IQ Consensus Estimate of $1.27; revenues fell 8.7% year/year to $4.86 bln vs the $4.77 bln consensus.

Co issues in-line guidance for Q3 including F/X impacts, sees EPS of $1.50-1.58 vs. $1.53 Capital IQ Consensus Estimate. On a constant currency basis, revenues increased 7% and earnings per share increased 16%. Earnings per share in the quarter were negatively impacted 23 cents by changes in the foreign currencies compared to the prior year.