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:
Europe edging slightly higher following their lunch-break. The German DAX was the standout performer gaining 0.65% half way through their session. Asia closed mixed. Early U.S. trading showed a slight gain in equity futures activity while the Bonds continued their slide.

Lookout for the Consumer Confidence report out at 10amEDT. Consensus is looking for an 85 reading in July. Tomorrow at 2pEDT we'll receive the Fed's Beige Book. Tomorrow's earnings reports include CVS Corp.(CVS:NYSE), Duke Energy(DUK:NYSE), Vishay(VSH:NYSE), Chubb(CB:NYSE), On Semi(ONNN:NASD), and Elan(ELN:NYSE).

Brokerage Chatter:
UBS downgraded Sprint FON(FON:NYSE) to reduce from neutral. Zebra Tech(ZBRA:NASD) was downgraded at Bear Stearns to peer perform from outperform. Cummins(CUM:NYSE) was downgraded at Credit Suisse First Boston neutral from outperform but raised their price target to $45 from $34. UBS started their back to school shopping early by upping Abercrombie and Fitch(ANF:NYSE) but booted retailers Wet Seal(WTSLA:NASD) and Charming Shoppes(CHRS:NASD).

Nationwide(NFS:NYSE) cut to neutral at Merrill Lynch from buy. Cinergy (CIN:NYSE) was upgraded at JP Morgan to overweight from neutral. Rohm and Haas(ROH:NYSE) was cut to hold at Janney Montgomery from a buy. Goldman Sachs upped Boston Scientific(BSX:NYSE). Odyssey Healthcare(ODSY:NASD) cut to Neutral at Merrill Lynch. Prudential raised their target to $70 from $50 on Phelps Dodge(PD:NYSE).

Bear Stearns raised their 2003 PC unit and revenue forecast as well as their 2003 notebook growth rate to reflect stronger PC shipments in the 2nd quarter of 2003.

Financial Headlines:
Stories :
Now even Bin Laden can hedge himself. The Wall Street Journal and MSNBC report that "The Policy Analysis Market" plans on creating a stir in the futures and trading markets this Friday when they begin opening accounts for trading on a new electronic futures exchange. This new exchange is designed to help predict terror attacks by allowing for Middle East experts to make bets on political and economic events within the volatile and explosive Middle East. The possible contracts are said to pertain to military preparedness, civil stability, economic health, U.S. military involvement, as well as U.S. economic investment resulting in payment to the contract holder if an explosive political event occurs by a set date. Initially, the market will only be open to 100 Middle East experts from universities and think tanks, ultimately allowing for 10,000 traders after the testing phase is complete.

Cerberus Capital has backed away from making a bid for Clayton Homes(CMH:NYSE)

The Wall Street Journal reported that Nokia(NOK:NYSE), STMicroelectronics(STM:NYSE), Texas Instruments(TXN:NYSE) and ARM Holdings(ARMHY:NASD) will team up to create a standard for semiconductors used in mobile devices.

STMicroelectronics(STM:NYSE) has announced a $1.2 bln convertible offering.

NVIDIA(NVDA:NASD) guided their gross margins slightly lower for the 2nd quarter.
McDonald's(MCD:NYSE) reported earnings in line with consensus.
DuPont(DD:NYSE) beat by $0.05
Verizon(VZ:NYSE) beat by $0.01
Nabors Ind(NBR:NYSE) beat by $0.02
Tyco(TYC:NYSE) missed by $0.02
Teva Pharm(TEVA:NASD) beat by $0.05
R.J. Reynolds(RJR:NYSE) reports a penny light
Transkaryotic(TKTX:NASD) beat by $0.07
Affiliated Computer(ACS:NYSE) beat by a penny
Southern Co(SO:NYSE) beat by $0.04
Louisiana-Pacific(LPX:NYSE) missed by $0.08
Automatic Data(ADP:NYSE) 2 pennies lower than expectations and guided below consensus
Neuberger Berman(NEU:NYSE) missed by $0.04
BP PLC(BP:NYSE) beat by $0.05
Clear Channel(CCU:NYSE) reported in line.

After the bell, Jefferson-Pilot(JP:NYSE) beat by $0.02.
Nationwide(NFS:NYSE) beat by $0.01
Barrick Gold(ABX:NYSE) reported in line
ACE Limited(ACE:NYSE) beat by $0.02
Sprint PCS(PCS:NYSE) beat by $0.02

Around the world in 80 ticks:
The Washington Post has learned that U.S. officials are looking into some credible threats of possible new airline suicide hijackings by terrorists planned for the latter part of the summer.

MSNBC reported that American troops have captured one of Saddam Hussein's bodyguards and at least two other suspected associates in an early morning raid on Tuesday.

The Saudi foreign minister flew to Washington for an unannounced meeting today with President Bush to discuss their concerns that the Saudi kingdom has been unfairly accused of supporting Al-Qaida in a report into the 9/11 attacks.

Have a profitable day folks.


< Previous
  • 1
Next >
No positions in stocks mentioned.
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