Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

The Fokker Chronicles



World Markets:
World markets are firmer today following better than expected Cisco(CSCO:NASD) earnings last night. The CAC40 was the leading gainer posting 1.05%. Asian markets on the other hand were dismal at best. A few bad apples such as Rohm Co. lowering its profit forecast and China's Legend Group the recipient of broker downgrades led the Nikkei down 2.63% and the Hang Seng lost 2.32%. US equity futures tacked on gains after the 4pmEDT bell sounded in New York that should be factored into on the opening of trading this morning. Positive economic data should help add some additional backdrop to the opening of trading this morning. Check out Brian Reynolds for more on that.

After the bell lookout for earnings results from Nvidia(NVDA:NASD) and Pixar(PIXR:NASD). Merrill Lynch will be hosting its annual technology conference today, BEA Systems(BEAS) is expected to be on hand. Earnings front is very light tomorrow however on the economic frontier quite a different story. Lookout for data on the Unemployment r\Rate, Hourly Earnings, Change in nonfarm and manufacturing payrolls, Wholesale Inventories and Consumer Credit.

Brokerage Chatter:
UBS upgraded Cisco Systems(CSCO:NASD) to outperform from market perform and raised its price target to $28 from $22. Merrill Lynch upgraded T.Rowe Price(TROW:NASD) to buy from neutral. Goldman Sachs cut Gucci(GUC:NYSE) to in line from outperform. United Systems Tech(UTSI:NASD) was downgraded at Morgan Stanley to equal weight from overweight however raised its price target to $34.56 from $28.50.

Bear Stearns upgraded Anheuser-Busch(BUD:NYSE) to outperform from peer perform. Legg Mason upgraded Priceline(PCLN:NASD) to buy from hold. Solomon Brothers upped Marriott(MAR:NYSE) to buy from hold and raised its target to $52 from $42. Solly also removed Starwood Hotels(HOT:NYSE) from its recommended list and added Marriott in its place.

Financial Headlines:
Stories :

On the interest rate front, the Bank of England raised its key bench mark rate by 1/4 point to 3.75%. The European Central Bank left its rates unchanged as expected.

Bloomberg newswires report that Treasury Secretary Snow making comments at an economic club in DC last night said he felt the U.S. economy is in 'real turnaround' and further said that if GDP growth could reach 4%, US jobs would see a pickup.

According to Bloomberg Newswires, New York Attorney General Eliot Spitzer might be working out a deal with Janus Capital(JNS:NYSE), Strong Capital Management, Bank One(ONE:NYSE) and Bank of America(BAC:NYSE) to settle accusations into improper trading.

The Wall Street Journal reported that Alliance Capital(AC:NYSE) has joined the party of mutual fund transgressors. The SEC issued AC a Wells notice yesterday alleging that the company permitted some investors to market time their mutual funds.

Chicago Mercantile(CME:NYSE) holders plan to sell 2.37 million shares in a secondary offering of Class A stock.

Cisco Systems(CSCO:NASD) beat street estimates by 2 pennies on better revenues. Revenues were guided higher sequentially by 1-3% despite some analysts looking for slightly higher guidance.
Qualcomm(QCOM:NASD) reported in line with street estimates and inline results on their revenues. Guidance for their December quarter was slightly better than expected.
Fox Entertainment (FOX:NYSE) beat by $0.16
Devon Energy(DVN:NYSE) beat by $0.27.
Clorox(CLX:NYSE) reported in line results.
Wal-Mart(WMT:NYSE) October comps were up 4.5% while company guidance was +3.0 to 5.0%
Sears, Roebuck(S:NYSE) October comps were down 2.7% versus estimates ranging from 1-5% gain.
XM Satellite(XMSR:NASD) beat consensus estimates by 5 cents.
Gap Inc(GPS:NYSE) gave upside preannouncement for its 3rd quarter.

Around the world in 80 ticks:

The New York Times is reporting that as part of a force rotation program in Iraq and Kuwait, the Pentagon alerted 43,000 Reserve and National Guard troops for the possibility of year-long duty. According to senior Pentagon officials, this should help to reduce the overall military personnel burden by Spring.

Engine 10-Ladder 10 which is located at 124 Liberty St. in downtown New York City, the first firefighters to respond to the World Trade Center attack, reopened their firehouse across the street from the disaster site yesterday, two years after 9/11. According to AP news, the 136 year old firehouse received a $3.5 million facelift and renovation that added better air conditioning, better plumbing and a bigger kitchen.

USA Today reports that Gary Leon Ridgway admitted yesterday to the strangling of 48 women in the Green River murders dating back from 1982 until 1998. Ridgway pled guilty to more murders than any other serial killer in U.S. history.However as a result of the plea agreement, his life was spared from the death penalty. According to legal experts, this ruling could make it very difficult for prosecutors to win a death sentence in the state of Washington in future murder cases.

Have a profitable day.


< Previous
  • 1
Next >
position in csco, bac
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos