The Latest Posts
September 2, 2014
NYSE MAC Desk
Jul 25 2014 | 10:03 AM

From The Trading Floor: After the S&P closed at a new high yesterday, the markets are pulling back this morning as traders are cautious ahead of the weekend on mixed earnings and continued unrest in Gaza and the Ukraine

  • Orders for US. Business equipment rose in June by 0.7% following a revised drop the prior month, indicating corporate investment remains stop and go and could still hold back economic growth. Business demand improved, evidenced by a 1.4% increase in nondefense capital goods orders excluding transportation that followed a 1.2% decline in May. Shipments of these goods, however, dropped for the third straight month, declining 1.0%.
  • Advanced Drainage Systems (WMS) priced 14.5 million shares at $16.00. They opened the day at $16.05 on a print of 908,315 shares. 

  • There are 22 IPO’s scheduled to price and go public next week

  • Argentine representatives have concluded that the best option for their country...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
Market Drivers
Jul 24 2014 | 4:11 PM

Equity markets shrugged off geopolitical tensions, and continued their slow grind upward this week. The rally has been helped by a host of positive earnings releases, as well as generally optimistic economic data. Here are three things that have been driving the market this week.

Geopolitical Unrest – Russia, Ukraine, Israel

“Geopolitical unrest” has been a popular buzzword used throughout financial circles and in the media this week. The term refers to several hotbed areas across the globe impacting the psyche of U.S. equity markets. First, we have the ongoing situation following the downing of Malaysian Flight 17 in Ukraine, allegations of tampering with the crash site, and finger pointing for responsibility. We also have the escalating conflict in Israel. The recent round of fighting there between Hamas and Israel has taken more than 600 lives, with little hope for a cease fire in the near future. Lastly, we have the deteriorating situation in Iraq, where...

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Posted by: Ronald Bohlert
Managing Director, Global Corporate Client Group
NYSE MAC Desk
Jul 24 2014 | 10:16 AM

From The Trading Floor: Equities are trading in mixed territory despite some solid earnings on weaker than expected New Home Sales. 

  • Initial Jobless Claims fell by 19,000 to 284,000 for the period ending July 19th, an 8 year low

  • Markit US. Manufacturing PMI slipped slightly to 56.3 for July vs. 57.3 the period earlier

  • The Bloomberg Consumer Comfort Index for the period ending July 20th came in roughly the same as the period before at 37.6

  • New home sales fell to 406,000 for June, lower than the revised 442,000 for May

  • Kansas City Fed Manufacturing Activity Index is at 11:00

  • EU diplomats will convene today to determine an extensive set of economic sanctions to impose upon Russia. The meeting follows the failed attempt of EU foreign ministers earlier this week to formulate a sanctions program.

  • Troubles at the European Central Bank...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Jul 23 2014 | 9:58 AM

From The Trading Floor: Stocks are trading in mixed territory this morning after the S&P hit another record on generally better than expected earnings. 

  • Mortgage applications for the week ending July 18th rose by 2.4%

  • Apple reported a FQ3 gross margin of 39.4%, +250 bps Y/Y (above guidance of 37%-38%), driving the $1.28 EPS to beat estimates by $0.05

  • PepsiCo reports core EPS $1.32, consensus $1.23. Reports Q2 revenue $16.89B, consensus $16.81B

  • Discover reports Q2 EPS $1.35, consensus $1.30. Reports Q2 revenue net of interest expense $2.17B, consensus $2.16B.

  • LinkedIn is acquiring Bizo, a provider of display/social ad services for marketers looking to target businesses. 10% of the $175M purchase price will be paid for in stock, and the rest in cash

  • Geopolitical action is heating up in the Ukraine, where the Defense Ministry said that Rebels in the eastern...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Jul 22 2014 | 10:10 AM

From The Trading Floor: Equities are trading in positive territory this morning on the easing of Ukraine tensions and positive 2nd quarter earnings

  • The Consumer Price Index for June came in at 0.3, matching the consensus for the month over month reading. The cost of living rose paced by a jump in the cost of gasoline

  • House prices rose 0.4% during May exceeding the expected 0.2% increase

  • Richmond Fed Manufacturing Index rises to 7 for July from the previous period when it was 3

  • Existing Home Sales for June rose to 5.04 million, well above the previous period

  • Time Warner has amended its bylaws to remove a provision allowing shareholders to call a special board meeting - eliminating a potential avenue 21st Century Fox (NASDAQ:FOX) could have used to press an unsolicited takeover offer. The move is intended to give Time Warner (NYSE:TWX) shareholders more time to evaluate the merits of a...

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