Paras Madho is a Director of the Market Watch & Corporate Actions, Global Corporate Client Group for NYSE Euronext (NYSE: NYX). In this...
Ahead of the Bell: Dow futures are trading up 15 points and S&P futures are trading up 2 points after German business confidence rose more than expected and boosted expectations of avoiding a recession. However, the European Commission warned economic output for the 17 member union will shrink, which may force the EC to revise its forecast. Computer makers will be in focus today following Hewlett Packard's disappointing 4th quarter earnings results and lowered guidance.
DJIA down 27.02 pts/-0.21%/12,938.67
S&P down 4.55 pts/-0.33/1,357.66
Nasdaq down 15.40 pts/-0.52/2,933.17
Dow Futures up 15.00 pts/+0.12%
S&P Futures up 2.40 pts/+0.09%
Nasdaq Fut up 5.58 pts/+0.19%
CAC 40 -0.08%
NIKKEI 225 +0.44%
HANG SENG -0.78%
Overseas: World stock markets were up today. European and Asian markets are up on better than expected business confidence numbers from Germany.
Economic Reports: Initial Jobless Claims expected to be 355K at 8:30 a.m., FHFA House Price Index expected to be 0.2% at 10:00 a.m. and Kansas City Fed Manufacturing Index expected to be 9 at 11:00 a.m.
Gold:down $5.10 to $1,776.85
Oil: down 0.09 to $106.65
EUR/USD 1.3293 +0.0048
USD/JPY 80.0750 -0.1990
GBP/USD 1.5715 +0.0050
Volatility Index (VIX): As of the close of business Wednesday, February 22, the VIX is up 0.10 at 18.29
Companies Reporting Quarterly Earnings:
Kohl's (KSS): Q4 EPS of $1.81 beats by $0.01. Revenue of $6.02B (-0.3% Y/Y) in-line.
American Tower (AMT): Q4 EPS of $0.51 beats by $0.21. Revenue of $653.1M (+20% Y/Y) in-line.
MetroPCS Communications (PCS): Q4 EPS of $0.25 beats by $0.08. Revenue of $1.24B (+16% Y/Y) in-line.
SXC Health Solutions (SXCI): Q4 EPS of $0.48 in-line. Revenue of $1.37B (+161% Y/Y) beats by $100M.
Tenaris (TS): Q4 EPS of $0.68 may not be comparable to consensus of $0.32. Revenue of $2.75B (+33.3% Y/Y).
Hormel Foods (HRL): FQ1 EPS of $0.48 in-line. Revenue of $2.04B (+6.1% Y/Y) in-line.
Foster Wheeler (FWLT): Q4 EPS of $0.39 misses by $0.05. Revenue of $1.13B (-6.8% Y/Y) misses by $70M.
IMAX (IMAX): Q4 EPS of $0.14 beats by $0.01. Revenue of $66.7M (-3.6% Y/Y) beats by $3M.
Berry Petroleum Company (BRY): Q4 EPS of $0.76 beats by $0.04. Revenue of $240M (+0.8% Y/Y) beats by $9M.
Today’s Opening and Closing Bells:
United States Commodity Funds Celebrates Listing on NYSE Arca Chief Investment Officer John Hyland will ring the opening bell.
H.E. Didier Reynders, Belgium’s Deputy Prime Minister and Minister for Foreign Affairs, Foreign Trade, and European Affairs, will ring the closing bell.