The Latest Posts
November 24, 2014
NYSE MAC Desk
Oct 20 2014 | 9:55 AM

From The Trading Floor; A 2015 earnings warning by Dow bellwether IBM has the market in mixed / negative territory this morning

  • IBM reports Q3 EPS $3.68, consensus $4.32. Reports Q3 revenue $22.4B, consensus $23.37B. IBM has reached an agreement with Globalfoundries to take over its loss-making semiconductor unit. Under the terms of the deal, IBM  will pay Globalfoundries $1.5B to take the chip operations off its hands

  • Quiet day on the economic calendar today

  • Russia and Ukraine have reached a preliminary agreement on a price for winter gas supplies, easing some concerns that the countries’ dispute could disrupt supplies to Europe via Ukraine.

  • Russia and Ukraine have reached a preliminary agreement on a price for winter gas supplies, easing some concerns that the countries’ dispute could disrupt supplies to Europe via Ukraine.

  • SAP cut its outlook for full-year operating profit as customers...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 17 2014 | 10:11 AM

From The Trading Floor: The markets are trading comfortably in the green this morning and earnings are beating estimates this morning and there is renewed speculation that the central banks will support economic growth with additional stimulus

  • Housing Starts for September in the US. climbed 6.3% to 1.02 million annual rate up from a 957,000 annual rate in August

  • Building Permits for future projects also increased rising 1.5% to 1.02 million annualized rate pointing to a sustained pace of construction

  • October University of Michigan Confidence came in at 86.4, higher than the 84.6 level the period before

  • Zayo Group Holdings (ZAYO) priced 28.9 million shares at $19. The opening print was $21.51 on 1,470,020 shares.

  • The ECB will start buying asset-backed securities and covered bonds "within the next few days" as part of its new program

  • With bond markets guessing that U.K. interest...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 16 2014 | 10:07 AM

From The Trading Floor: Stocks continue to trade in negative territory this morning as concerns over the soft global economy and its effect on the US economy have investors cautious

  • Initial Jobless Claims decreased more than expected to 264,000 for the period ending October 11th

  • Industrial Production rose in September by 1.0%, the most since November 2012 driven by a surge in utilities and a rebound in manufacturing.

  • Consumer Comfort for the period ending 10/12 slipped a bit to 36.2

  • The October Philadelphia Fed Business Outlook increased slightly to 20.7

  • The NAHB Housing Market Index for October slipped to 54

  • Oil prices fall off again with more forecasts out indicating weak global demand. The American Petroleum Institute reported a 10.2M barrel increase in the stockpile of U.S. crude oil, while a U.S. Energy Information Administration tally due out later today is...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 15 2014 | 10:07 AM

From The Trading Floor: Stocks are trading in negative territory this morning as weaker reports on retail sales and manufacturing data added to concerns that economic growth was slowing

  • Mortgage Applications for the period ending Oct 10th increased by 5.6%

  • A -0.3% decline in September retail sales, and a 0.2% decline in sales, excluding autos. No change in core retail sales, which exclude gasoline, auto, and building materials sales

  • - 0.1% decline in September PPI and no change in core PPI, which excludes food and energy

  • A drop in the October Empire Manufacturing Index to 6.2 from 27.5 in September

  • Business Inventories for the month of August rose by 0.2%, less than expected

  • Bank of America reports Q3 EPS (1c), consensus (9c). Reports Q3 revenue $21.4B, consensus $21.36B. Reports Q3 EPS of (1c) per share after preferred dividends

  • BlackRock Inc....

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