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 is taking a big hit today following the weaker than expected economic data in the U.S. The DAX was the clear laggard, dropping 2.5%, while the CAC40 wasn't too far behind down nearly 2% halfway through their respective trading sessions. In Asian markets, the Nikkei lost 0.80% and the Hang Seng closed down 0.11% today. Spot gold was higher by nearly $8 hovering around the $400 per troy ounce level and 10 year bond futures zoomed up over 2 points following the job numbers.

Heads up:

After the bell, Maxim Int(MXIM:NASD) will sneak its earnings onto the tape. Looking ahead to next week, some of the highlights include Cablevision(CVC:NYSE), May Dept(MAY:NYSE), Cisco Systems(CSCO:NASD), Computer Sciences(CSC:NYSE), Walt Disney(DIS:NYSE), Federated(FD:NYSE), Walmart(WMT:NYSE), BEA Systems(BEAS:NASD) and Dell Co(DELL:NASD).

Brokerage Chatter:

Banc of America downgraded RadioShack(RSH:NYSE) to sell from neutral. Merrill Lynch cut its price targets on Home Depot(HD:NYSE) to $39 from $43 and on Lowes(LOW:NYSE) to $59 from $65. Goldman Sachs upgraded Raytheon(RTN:NYSE) to in-line from underperform. Goldman Sachs cut St. Paul Travelers(STA:NYSE) from outperform to in-line.

JP Morgan upped ING Group(ING:NYSE) to neutral from underweight. Family Dollar(FDO:NYSE) was downgraded at CSFB from outperform to neutral. Lehman upgraded MCI(MCIP:NASD) to equal-weight from underweight and raised its price target to $16 from $11. Pipar Jaffray upgraded Symantec(SYMC:NASD) to outperform from market perform and raised its 2005 and 2006 EPS estimates above consensus.

Financial Headlines:
Stories :

Reuters reported that HSBC(HBC:NYSE) has agreed to pay $1.75 billion in a landmark China bank deal. The deal represents nearly a 20% stake in China's Bank of Communications and one of China's top five largest lenders. Meanwhile, in related news, Barclays surged in European trading following speculation that Citigroup(C:NYSE) may make a bid for the UK bank.

Yesterday Caterpillar(CAT:NYSE) said it has made a final contract offer to the union and will await their response. Bloomberg newswires report that a contract vote is scheduled for August 15th.

The New York Times reports that the Dominican Republic could be very close to debt default. The Chronicles staff is currently pricing up Punta Cana trips, as a barometer for the local economy.

The Wall Street Journal reports that following the news yesterday that Google had potentially prematurely sold shares and options in the company, a probe by the California Department of Corporations has begun and could force a delay in its much anticipated stock offering next week.


NVIDIA(NVDA:NASD) missed by $0.12.
Emulex(ELX:NYSE) beat by $0.01, guided below consensus.
WebMD(HLTH:NASD) missed by a penny but topped revenues estimates.

Around the world in 80 ticks:

According to the Dow Jones newswires, information uncovered in Iraq had led federal investigators to become suspicious of a mosque leader in Albany, N.Y. Purportedly, one of the men arrested in Albany had his name, telephone number and address recovered by U.S. troops last summer in an address book left behind in a vacated terrorist training camp. According to AP news and the Newark Star Ledger, the authorities of the arrested two mosque leaders said the men were part of a phony terror plot that was meant to send a message to terrorists and their sympathizers.

The Associated Press reported that in a first of its kind study, the amount of consumed carbohydrates by women to cases of breast cancer was nearly twice as high as compared to those who did not have a lot of carbs in their diet according to the study in Mexico.

Have a great day.

< Previous
  • 1
Next >
position in wmt, hbc, c, cat, hd
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