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août 30, 2014
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
NYSE MAC Desk
juil 14 2014 | 9:50 AM

From The Trading Floor: Futures are trading in positive territory this morning boosted by increased M&A activity and positive 2nd quarter earnings. 

  • Quiet day on the economic calendar

  • Citigroup reports Q2 EPS $1.24 ex-items, consensus $1.05. Reports Q2 revenue $19.3B, consensus $18.93B. Excluding CVA/DVA, revenues were $19.4B.

  • Aecom Technology has agreed to purchase rival URS (NYSE:URS) for $4B in cash and shares, forming a company with roughly double the amount of turnover than the next closest competitor in the industry.

  • Shire says it has received a new $53B takeover proposal from AbbVie (NYSE:ABBV) and it is willing to recommend the new offer to shareholders.

  • Whiting Petroleum will acquire Kodiak Oil & Gas (NYSE:KOG) creating North Dakota's largest Bakken shale producer. During the first quarter, combined output of the two companies was more than 107k barrels of oil...

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