Commentary November 14, 2012
After
ending the previous session lower due to late-day weakness, stocks may
move back to the upside in early trading on Wednesday. The major index
futures are currently pointing to a modestly higher open for the
markets, with the Dow futures up by 29 points. (Nov 14, 2012) Full Article
Economic News
Unemployment
rate in South Korea edged down in October, despite a slowdown in the
pace of job creation in the economy, the latest figures from Statistics
Korea showed Wednesday. (Nov 14, 2012) Full Article
Sentiment
among Australian consumers improved to its best level in 19 months in
November, suggesting that the central bank's interest rate cuts since
November last year are starting to have an impact on household
confidence. The Westpac-Melbourne Institute Index of Consumer Sentiment
increased 5.2 percent month-on-month to 104.3 in November. (Nov 14, 2012) Full Article
The
number of persons claiming jobless allowance in the UK increased
unexpectedly in October, while the unemployment rate fell to its lowest
level in more than a year in the three months through September, the
latest figures from the Office for National Statistics showed Wednesday.
The claimant count rose by 10,100 from a month earlier to 1.58 million
in October. (Nov 14, 2012) Full Article
The
Bank of England forecast for contraction by the British economy and
sluggish growth in the near term has opened the door for more
quantitative easing. On the inflation front, the central bank does not
expect inflation to fall back until the second half of 2013. In its
quarterly Inflation Report published on Wednesday, the BoE trimmed its
growth forecast but lifted its inflation outlook. (Nov 14, 2012) Full Article
Retail
sales in the U.S. fell by more than expected in the month of October,
according to a report released by the Commerce Department on Wednesday,
although the drop came on the heels of a bigger than previously
estimated increase in sales in September. (Nov 14, 2012) Full Article
With
prices for light motor trucks and passenger cars showing a notable
decrease in the month of October, the Labor Department released a report
on Wednesday showing an unexpected drop in U.S. producer prices for the
month. (Nov 14, 2012) Full Article
Earnings News
Cisco
Systems Inc. (CSCO) on Tuesday reported stronger-than-expected profit
for the third quarter, on improved sales and tight cost cutting
measures. (Nov 14, 2012) Full Article
Staples
Inc. (SPLS) on Wednesday reported a loss for the third quarter, as huge
restructuring and impairment charges weighed on results. Sales
decreased 2 percent for the period and fell in short of expectations.
The Office supplies retailer confirmed its outlook for the full year. (Nov 14, 2012) Full Article
Tyco
International Ltd. (TYC) on Wednesday slipped to a loss in the fiscal
fourth quarter, hurt by break-up costs and lower revenues. (Nov 14, 2012) Full Article
Abercrombie
& Fitch Co. (ANF) on Wednesday lifted its annual adjusted earnings
outlook, after the retailer reported higher third-quarter results that
surpassed expectations, driven by strong overseas and direct-to-consumer
sales. (Nov 14, 2012) Full Article
Broker Ratings Changes
Nomura Ups Weir Group PLC (WEIR.L) To Neutral From Reduce
(Nov 14, 2012)
Robert W. Baird Lowers Hi-Crush Partners LP (HCLP) To Neutral From Outperform With $18 Down From $23 Price Target
(Nov 14, 2012)
Robert W. Baird Ups Hub Group Inc. (HUBG) To Outperform From Neutral With $38 Price Target
(Nov 14, 2012)
Todays WS Events
Aetna To Present At Credit Suisse Healthcare Conference; Webcast At 11:30 AM ET
Aetna
Inc (AET) will present at the 2012 Annual Credit Suisse Health Care
Conference in Phoenix. The event is scheduled to begin at 11:30 AM ET on
November 14, 2012. To access the live webcast, log on at
www.aetna.com/investor (Nov 14, 2012)
AT&T To Present At Morgan Stanley TMT Conference; Webcast At 2:50 AM ET
AT&T
Inc. (T) will present at the Morgan Stanley TMT Conference in
Barcelona. The event is scheduled to begin at 2:50 AM ET on November 14,
2012. To access the live webcast, log on at
http://phx.corporate-ir.net/phoenix.zhtml?c=113088&p=irol-EventDetails&EventId=4863658 (Nov 14, 2012)
Bristol-Myers To Present At Credit Suisse Conference; Webcast At 3:30 PM ET
Bristol-Myers
Squibb Co. (BMY) will present at the 2012 Credit Suisse Healthcare
Conference. The event is scheduled to begin at 3:30 PM ET on November
14, 2012. To access the live webcast, log on at http://investor.bms.com (Nov 14, 2012)
Ford Motor To Present At Barclays Global Conference; Webcast At 12:45 PM ET
Ford
Motor Co. (F) will present at the Barclays Capital 2012 Global
Automotive Conference. The event is scheduled to begin at 12:45 PM ET on
November 14, 2012. To access the live webcast, log on at
www.shareholder.ford.com (Nov 14, 2012)
Johnson & Johnson To Present At Credit Suisse Conference; Webcast At 1:00 PM ET
Johnson
& Johnson (JNJ) will present at the Credit Suisse 2012 Healthcare
Conference . The event is scheduled to begin at 1:00 PM ET on November
14, 2012. To access the live webcast, log on at www.investor.jnj.com (Nov 14, 2012)
Microchip To Present At UBS Global Technology Conference; Webcast At 1:00 PM ET
Microchip
Technology Inc. (MCHP) will present at the UBS Global Technology
Conference . The event is scheduled to begin at 1:00 PM ET on November
14, 2012. To access the live webcast, log on at www.microchip.com (Nov 14, 2012)
Seagate To Present At Needham Conference; Webcast At 9:30 AM ET
Seagate
Technology (STX) will present at the Needham 2012 Sixth Annual
HDD/Flash Memory & Systems Conference. The event is scheduled to
begin at 9:30 AM ET on November 14, 2012. To access the live webcast,
log on at seagate.com (Nov 14, 2012)
Tyco International Q4 12 Earnings Conference Call At 8:00 AM ET
Tyco
International Ltd. (TYC) will host a conference call at 8:00 AM ET on
November 14, 2012, to discuss its Q4 12 earnings results. To access the
live webcast, log on at http://investors.tyco.com To hear the live call,
dial (800) 857-9797 (US) or (517) 308-9262 (International) with
passcode "Tyco". A replay of the call can be heard by dialing (866)
465-0332 (US) or (203) 369-1414 (International) with passcode 6578. (Nov 14, 2012)
Verizon To Present At Morgan Stanley Conference; Webcast At 3:35 AM ET
Verizon
Communications (VZ) will present at the Morgan Stanley 12th Annual
Technology, Media & Telecom Conference . The event is scheduled to
begin at 3:35 AM ET on November 14, 2012. To access the webcast, log on
at www.verizon.com/investor (Nov 14, 2012)
Management Change
Tuesday,
Zynga Inc. (ZNGA) said its finance chief David Wehner is leaving the
company to take a senior finance job at Facebook Inc. (FB). The troubled
social gaming company named chief accounting officer Mark Vranesh as
new CFO. (Nov 14, 2012) Full Article
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