The Latest Posts
October 21, 2014
NYSE MAC Desk
Oct 14 2014 | 9:42 AM

From The Trading Floor: Equities are trading in positive territory this morning after the worst 3 day drop since 2011 as investors are encouraged by some blue chip earnings releases, feeling the recent sell-off was overdone

  • Small Business Optimism for September declined slightly to 95.3 from 96.1 the previous month

  • JPMorgan reports Q3 EPS 1.36, consensus $1.38. Reports Q3 revenue $24.25B, consensus $24.01B. Reports Q3 book value per share $56.50. Reports Q3 Tier 1 capital ratio 11.5%. Reports Q3 net charge off rate 1.12%

  • Citigroup reports Q3 EPS $1.15 ex CVA/DVA, consensus $1.12. Reports Q3 revenue $19.6B, consensus $19.05B

  • Johnson & Johnson reports Q3 adjusted EPS $1.50, consensus $1.44. Reports Q3 revenue $18.47B, consensus $18.38B

  • CPI figures from across the EU have provided further evidence of the danger that deflation poses to the region. French CPI dropped 0.4% on month in September...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 13 2014 | 10:04 AM

From The Trading Floor: After the biggest weekly drop in 2 years, equities are fluctuating this morning as the S&P 500 trades below its 200 day moving average

  • Quiet economic calendar this morning as many are observing the Columbus Day holiday.

  • CSX has reportedly rebuffed a merger approach from Canadian Pacific Railway (NYSE:CP) in a deal that would create an industry giant with a combined market cap of $62B.

  • NetScout Systems  announced an agreement to acquire Danaher’s  communications business in a transaction valued at $2.6 bln

  • Targa Resources Partners and Targa Resources Corp. will acquire Atlas Pipeline Partners, L.P. and Atlas Energy, L.P.  for total consideration of $5.8 bln, including $1.8 bln of debt

  • Shares in Fiat Chrysler Automobiles are due to begin trading under the symbol FCA on the NYSE this morning, after which they'll debut in Milan as well.

  • ...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 10 2014 | 10:01 AM

From The Trading Floor: Equities are trading up this morning, rebounding from the biggest market decline since April

  • Import Prices for the month of August fell less than expected at -0.5%

  • Symantec is splitting into two companies, with one to remain known as Symantec  and to offer security software/services. The other firm will offer storage management software/services.

  • A slew of Fed speakers are due to make comments including Plosser (9amET), George (1pmET), Fisher (2:08pmET), and Lacker (3pmET) – note that most of these people are hawks.  

  • Diplomat Pharmacy priced 13.33 million shares last night at $13.00. The opening print was $16.00 on a print of 1,767,675 shares

  • Italian industrial output grew 0.3% on month in August after dropping 1% in July but missed consensus for +0.5%. Still, the monthly expansion provides a contrast to the general gloom surrounding the eurozone economy....

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 9 2014 | 10:13 AM

From The Trading Floor; Equities are trading in negative territory this morning following the S&P 500's biggest rally this year as investors speculate that the move might be overdone and grow cautious as we enter earnings season

  • A report this morning showed U.S. jobless claims dropped 1,000 to a seasonally adjusted 287,000 in the latest week. The report supported September jobs data, which also pointed to improving conditions in the labor market. The four week moving average of 287,750 for initial claims is at its lowest level since February 4, 2006. The four week moving average for continuing claims of 2.414 million is at its lowest level since July 1, 2006.

  • Bloomberg Consumer Comfort for the period ending 10/5 rose to 36.8 from 34.8, the most since mid-November

  • Wholesale inventories for the month of August rose by 0.7%. Wholesale sales fell -0.7%

  • Alcoa reports Q3 adjusted EPS 31c, consensus 23c. Reports Q3...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 8 2014 | 10:06 AM

From The Trading Floor: Equities are trading in cautious territory this morning anxiously awaiting the release of the Fed minutes from their last meeting, after the S&P 500 fell to an eight week low

  • Mortgage Applications for the period ending 10/3 rose 3.8%

  • Symantec is in "advanced talks" to split its security and storage software operations

  • Eagle Point Credit (ECC) priced 5.1 million shares at $20. 

  • The minutes of the September 16 – 17 FOMC minutes are due to be released at 2:00 this afternoon

  • 3rd Quarter Earnings season unofficially kicks off today with Alcoa releasing after the close

  • Yum! Brands reports Q3 EPS ex-items 87c, consensus 89c. Reports Q3 revenue $3.35B, consensus $3.48B. Worldwide system sales grew 1%

  • In yet another twist over the months-long takeover battle between Valeant  and Allergan.  Actavis , which was...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk