The Latest Posts
November 1, 2014
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....

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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...

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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...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 7 2014 | 10:13 AM

From The Trading Floor: Stocks are trading lower today after the International Monetary Fund cut its growth forecast and warned of frothy stock levels in the face of slowing growth in Europe

  • National Retail Federation released its holiday sales forecast for 2014 and it is expecting good things. Sales for the months of November and December are expected to be up 4.1% versus a 3.1% increase in 2013 and an average 2.9% increase over the last ten years

  • The Obama administration has called for new protocols to help stop the spread of Ebola, including additional passenger screening at airports and increased efforts to educate medical providers on how to handle cases.

  • Rio Tinto says it rejected an informal approach from Glencore about a potential $160B merger in August and has had no further contact

  • Kansas City Fed President Esther George reiterated that a growing economy means the U.S. central bank needs to move toward...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 6 2014 | 10:04 AM

From The Trading Floor: Equities are trading in positive territory this morning, continuing the momentum from Friday’s rise on corporate deals announced by Hewlett-Packard , CareFusion and Becton Dickinson

  • HP is planning on spinning off its PC and  printer operations into a separate publicly-traded company, reports the WSJ. An announcement could come as soon as today, although the spinoff is expected to happen in 2015. If the H-P division goes off as planned, it would give rise to two publicly traded companies, each with more than $50B in annual revenue.

  • Brazil’s Presidential race is headed for another round after leftist President Dilma Rousseff won the most votes on Sunday but failed to clinch the majority she needed to win a second term outright.

  • The crowds of pro-democracy protestors dwindled today, although barricades could still be seen despite government warnings that roads would be cleared before the start of...

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