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septembre 2, 2014
NYSE MAC Desk
juil 21 2014 | 10:06 AM

From The Trading Floor: Equities are trading in negative territory this morning as geopolitical tensions have investors on the sidelines prior to a major week of earnings.

  • Chicago Fed National Activity Index increased by 0.12 for June, less than the expected 0.18

  • R.J. Reynolds is readying its legal division after a lawsuit slammed the company with $23.6B in punitive damages to be paid to the widow of a longtime smoker who died of lung cancer.

  • Wal-Mart invested $103M into its Indian wholesale business in June, and plans to open 50 more stores in India over the next 4-5 years.

  • Western leaders from Britain, France and Germany have staunchly warned Vladimir Putin of increased sanctions by Tuesday if air accident investigators do not have full access to the crash site in eastern Ukraine

  • Israel and Hamas fail to reach a peace agreement over the weekend as violence increased in Gaza

  • ...

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Posté par: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
juil 18 2014 | 10:07 AM

From The Trading Floor: Positive earnings in combination with renewed M&A activity has overshadowed geopolitical concerns this morning

  • General Electric Co. reported a 13% increase in second-quarter profit Friday
  • AbbVie said Friday it struck a deal to acquire Shire PLC for about $54 billion that has the backing of the Shire board. The U.S. drug maker had seen its previous four takeover offers rejected since mid-June.

  • Capital One reports Q2 EPS $2.04 , consensus $1.82. Reports Q2 revenue $5.47B, consensus $5.43B.

  • Globant SA (GLOB), an application software company priced 5.85 million shares at $10.00. It opened at $12.95 on a print of 332,675 shares. 

  • Trupanion (TRUP), an insurance services company, priced 7.1 million shares at $10.00. It opened at $11.25 on a print of 192,069 shares. 

  • President Obama has again warned Vladimir Putin of increased sanctions if Russia does not...

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Posté par: Charles Brown
Managing Director, The Capital Markets Desk
Market Drivers
juil 17 2014 | 4:06 PM

U.S. markets received a heavy dose of both economic data, as well as earnings reports this week, with indexes once again testing new all-time highs. Earnings season has picked up steam, with some large banking names releasing numbers. We have also seen another wave of M&A activity across a wide range of sectors. Here are three things that have been driving the market this week:

Earnings

Here is a recap of some earnings highlights from the week:

  • Citigroup shares rallied after the company reported Q2 EPS of $1.24, easily topping the consensus of $1.05. The company also beat on the top-line.
  • Pharmaceutical company Johnson & Johnson saw shares fall despite beating on both EPS and revenues. The weakness stemmed from mixed full year guidance.
  • Banking giants JPMorgan Chase and Goldman Sachs beat on both lines and saw shares move higher, while Bank of America...
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Posté par: Ronald Bohlert
Managing Director, Global Corporate Client Group
NYSE MAC Desk
juil 17 2014 | 10:15 AM

From The Trading Floor: Equities are trading in mixed territory this morning as Russian sanctions and weaker Housing Starts and Building Permits keep a check on the market

  • Housing Starts unexpectedly declined  by 9.3% in June to 893,000 as a record plunge in the South dwarfed gains in the rest of the US. 

  • Building Permits fell to 963,000 during June from a revised 1,005,000 the month before

  • First time Jobless Claims fell during the period ending July 12th to 302,000 from a revised 305,000 the previous period

  • The Consumer Comfort Index fell slightly to 37.5 in the week ending July 13th from 37.6 the week earlier

  • The Philadelphia Fed Business Index jumped to 23.9 for July vs. 17.8 during June.

  • UBS has taken a far lead ahead of Bank of America as the world's largest private bank and is close to securing $2T under its wealth management business....

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Posté par: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
juil 15 2014 | 10:09 AM

From The Trading Floor: Equities are trading in positive territory this morning after two bellwethers in the banking sector reported better than expected 2nd quarter earnings

  • July New York Fed Empire Report rises to 25.6, higher than the estimates 17

  • Retail Sales increased 0.2% during June after rising a revised 0.5% for May. The consensus estimate for June was 0.6%

  • US. June Import Price Index rose 0.1% for June month over month, slightly lower than the 0.4% estimated. On a year over year basis, the Import Price Index increased 1.2% which was better than the 1.1% estimated.

  • Business Inventories  for the month of May came in at 0.5% pretty much on target

  • JPMorgan reports Q2 adjusted EPS $1.46, consensus $1.29. Reports Q2 GAAP revenue $24.5B, consensus $23.76B

  • Goldman Sachs reports Q EPS $4.10, consensus $3.05. Reports Q2 revenue $9.13B, consensus $7.97B.

    ...
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Posté par: Charles Brown
Managing Director, The Capital Markets Desk