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

By

PrintPRINT


World Markets:

Global markets were modestly higher as the FTSE gained 0.75% while the IBEX was giving up 0.75% ahead of the U.S. equity open to trading. In Asia, the Nikkei lost 0.87% while the Hang Seng gained 0.27% on its session. Spot gold prices are down again today slipping to a one month low down over $4 early on.


Heads up:

No economic chatter to speak of this morning but looking ahead to next week, we'll have plenty to look at with the home sales for June, consumer confidence, durable goods, the ECI, GDP figures and personal consumption to name a handful of economic data points.

Earnings highlights for next week include Intl Paper(IP:NYSE), American Express(AXP:NYSE), Dupont(DD:NYSE), Verizon(VZ:NYSE), US Steel(X:NYSE), Biogen IDEC(BIIB:NASD), Exxon(XOM:NYSE), and Newmont Mining(NEM:NYSE).


Brokerage Chatter:


BEA Systems(BEAS:NASD) was cut to market perform from outperform at Sanford Bernstein. Friedman, Billings, Ramsey downgraded Computer Associates(CA:NYSE) to market perform from outperform and lowered its price target to $24 form $28. Raymond James upped Starwood Hotels(HOT:NYSE) and Hilton(HLT:NYSE) was upped to strong buy from outperform. Mellon Financial(MEL:NYSE) was upgraded to buy from hold at Janney.

MCI Inc(MCIP:NASD) was started with an underweight rating at Morgan Stanley and an $8 price target. Textron(TXT:NYSE) upgraded to buy from hold as Smith Barney raised its target to $70. Coca-Cola(KO:NYSE) was cut to hold from buy at Deutsche and had its price target cut to $53 from $60. UBS upgraded the baby bells today individually upping SBC Comm(SBC:NYSE), Verizon(VZ:NYSE), and Bellsouth(BLS:NYSE) to buy from neutral. Washington Mutual(WM:NYSE) was cut to neutral from buy at UBS. Intl Game Tech(IGT:NYSE) was cut to sell from buy at Merrill Lynch. AT&T(T:NYSE) was upgraded to a neutral from sell at Fulcrum. Eli Lilly(LLY:NYSE) was cut to underperform from market perform at Raymond James.



Financial Headlines:
Stories :

AMG Fund Flow Data: Equity funds report net cash inflows of $874 million in the week ended July 14.

Earnings:

Microsoft(MSFT:NASD) had an overall strong quarter and revenue guidance was better. Some analysts are raising issues with their EPS guidance below the Street due to lower investment income assumption.
Coca Cola(KO:NYSE) beat by a penny on lighter revenues. The company reaffirmed a $2 billion stock buyback plan.
Cummins(CMI:NYSE) beat the Street by 45cents and guided its 3rd quarter and 2004 higher.
Paccar(PCAR:NASD) topped Street estimates by 19 cents.
Weyerhaeuser(WY:NYSE) beat by $0.54.
Halliburton(HAL:NYSE) beat by a penny but was a little light on revenues.
Xerox Corp(XRX:NYSE) beat on EPS by 4 cents but was light on revenues and guided 2004 above consensus.
Maytag(MYG:NYSE) missed by $0.30 and was light on revenues.
Schlumberger(SLB:NYSE) missed by a penny.
Lattice Semi(LLTC:NASD) missed by a penny on lighter than expected revenues and warned for its 3rd quarter.
Foundry Ntwks(FDRY:NADS) missed by $0.03 and guided its 3rd quarter below consensus.
Callaway Golf(ELY:NYSE) beat the Street by $0.08 and guided its 3rd quarter lower.


Around the world in 80 ticks:

Reuters reports that the FBI is warning the U.S. news networks and its divisions last night of a "credible" terrorist threat targeting media vehicles during the upcoming Democratic National Convention in Boston next week. The FBI added that this particular threat is coming from a domestic group and not Al Qaeda or some other foreign terrorist organization.

The Financial Times reports that an industry group says music piracy is linked to drugs and terrorism. In related news, Senator Orrin Hatch said he wants to ban P2P networks. CNET reports that Senator Hatch, chairman of the U.S. Senate Committee on the Judiciary said yesterday that a ban on file-trading networks is urgently required but added he would work closely with tech companies concerned that devices such as Apple Computer's(AAPL:NASD) 'iPod' would not get hurt.



Have a great day.


Fokker



position in ip, vz, xom, axp, nem, ca, wm, igt, lly, t, hal, pcar
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.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE