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business newsPre-Market Primer: Greek Debt Deal Is Reached, Bailout on the Way
By
Vincent Trivett
Feb 07, 2012 9:25 am
According to Bloomberg, Greek officials just came to an agreement on fiscal reforms that will allow them to secure extra rescue funds from the Troika.
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Great news just came in. According to Bloomberg, Greek officials just came to an agreement on fiscal reforms that will allow them to secure extra rescue funds from the Troika.
One reason that the divided government dithered for so long might be that their constituents are clearly not going to be happy about anything that they come up with. Greeks are in in the streets protesting and a general strike brought business to a halt in the country.
Futures on US indexes are still down today.
The Japanese leading index rose 0.6% in December, despite severe setbacks from the tsunami and earthquake in March and flooding in Thailand that affected Japanese factories. Natural disasters and the strong yen certainly had a hand in driving earnings at Toyota (TM) down more than 13% in its third fiscal quarter. Toyota upgraded its forecast the fiscal year to 200 billion yen, more than a 50% decline from the year before. Toyota gained 2.29% in the pre-market on the upgrade.
The Japanese yen slid down by 0.2% to 76.72 yen to the dollar, raising the possibility that the Bank of Japan is again engaging in unannounced "stealth intervention" as it did last year.
Coca Cola (KO) Q4 2011 GAAP earnings declined to $0.72 per share from $2.46 per share in 2010. Comparable EPS came in at $0.79, beating analyst estimates of $0.77. Coca Cola shares gained 1.06% in the pre-market.
Partly thanks to the its rogue trading scandal, UBS (UBS) Q4 profits declined to 393 million CHF, down from 1.29 billion CHF one year prior.
Oil giant BP (BP) ended last year with a profit of 18.2 billion euros after tax, thanks to high oil prices. BP is down 1.6% in the pre-market.
Fed Chairman Ben Bernanke will testify before the Senate today, his first chance to meet lawmakers since the killer jobs report last Friday. We will see if the Fed will continue on a program of quantitative easing despite the signs that the economy is picking up.
Twitter: @vincent_trivett
One reason that the divided government dithered for so long might be that their constituents are clearly not going to be happy about anything that they come up with. Greeks are in in the streets protesting and a general strike brought business to a halt in the country.
Futures on US indexes are still down today.
- Dow (^DJI) futures slipped 13 points to 12,763
- S&P 500 (SPY) futures are off 3.2 points to 1,335.90
- The Nasdaq (^IXIC) is down 6.25 points to 2,519.50
The Japanese leading index rose 0.6% in December, despite severe setbacks from the tsunami and earthquake in March and flooding in Thailand that affected Japanese factories. Natural disasters and the strong yen certainly had a hand in driving earnings at Toyota (TM) down more than 13% in its third fiscal quarter. Toyota upgraded its forecast the fiscal year to 200 billion yen, more than a 50% decline from the year before. Toyota gained 2.29% in the pre-market on the upgrade.
The Japanese yen slid down by 0.2% to 76.72 yen to the dollar, raising the possibility that the Bank of Japan is again engaging in unannounced "stealth intervention" as it did last year.
Coca Cola (KO) Q4 2011 GAAP earnings declined to $0.72 per share from $2.46 per share in 2010. Comparable EPS came in at $0.79, beating analyst estimates of $0.77. Coca Cola shares gained 1.06% in the pre-market.
Partly thanks to the its rogue trading scandal, UBS (UBS) Q4 profits declined to 393 million CHF, down from 1.29 billion CHF one year prior.
Oil giant BP (BP) ended last year with a profit of 18.2 billion euros after tax, thanks to high oil prices. BP is down 1.6% in the pre-market.
Fed Chairman Ben Bernanke will testify before the Senate today, his first chance to meet lawmakers since the killer jobs report last Friday. We will see if the Fed will continue on a program of quantitative easing despite the signs that the economy is picking up.
Twitter: @vincent_trivett
No positions in stocks mentioned.
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