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 79 points and S&P futures are trading up 8 points after IBM reported better than expected second quarter results at the close yesterday and raised its guidance for the remainder of 2011. Investors will focus on a Euro zone summit to be held on Thursday. Traders are hoping EU finance ministers will agree on how private investors will participate in the second round of Greek bailout and avoid the debt crisis from spreading to Italy and Spain. The equity market seems to be anticipating the debt ceiling will be raised and the U.S. will avoid a default on its obligations.
DJIA down 94.57 pts/-0.76%/12,385.16
S&P down 10.70 pts/-0.81%/1,305.44
Nasdaq down 24.67 pts/-0.89/2,765.11
Dow Futures up 79.00 pts/+0.60%
S&P Futures up 8.50 pts/+0.65%
Nasdaq Fut up 17.75 pts/+0.63%
CAC 40 +1.28%
NIKKEI 225 -0.85%
HANG SENG +0.45%
Overseas: World stock markets were up today. European markets are up on better than expected corporate earnings results. Asian markets were lower on the continuing Euro debt crisis.
Economic Reports: Housing Starts is expected to be 0.560 M at 8:30 a.m.
Gold:up $2.10 to $1,605.85
Oil:up $0.87 to $96.77
EUR/USD 1.4173 +0.0069
USD/JPY 78.9350 -0.1200
GBP/USD 1.6111 +0.0062
Volatility Index (VIX): As of the close of business Monday, July 18, the VIX is up 1.39 at 20.92
Companies Reporting Quarterly Earnings:
Bank of America (BAC): Q2 EPS of $0.33 beats by $0.03. Revenue of $13.48B (-50.2% Y/Y).
Goldman Sachs (GS): Q2 EPS $1.85 vs. consensus $2.27 Reports Q2 revenue $7.28B vs. consensus $8.14B.
Wells Fargo reports Q2 EPS 70c vs. consensus 69c Reports Q2 revenue $20.4B vs. consensus $20.46B.
Coca-Cola (KO): Q2 EPS of $1.17 beats by $0.01. Revenue of $12.7B (+47% Y/Y).hnson & Johnson (JNJ): Q2 EPS of $1.28 beats by $0.04. Revenue of $16.6B (+8.3% Y/Y). Maintains FY'11 EPS guidance of $4.90-5.00.
State Street (STT): Q2 EPS of $0.96 misses by $0.01. Revenue of $2.49B (+8% Y/Y).
KeyCorp (KEY): Q2 EPS of $0.26 beats by $0.06. Revenue of $1.02B (-8.2% Y/Y).
Bank of New York Mellon (BK): Q2 EPS of $0.59 beats by $0.03. Revenue of $3.85B (+15.2% Y/Y).
Johnson & Johnson (JNJ): Q2 EPS of $1.28 beats by $0.04. Revenue of $16.6B (+8.3% Y/Y). Maintains FY'11 EPS guidance of $4.90-5.00.
UnitedHealth (UNH): Q2 EPS of $1.16 beats by $0.18. Revenue of $25.2B (+8.5% Y/Y). Raises FY'11 outlook to EPS of $4.15-4.25, revenue of $101B.
Comerica (CMA): Q2 EPS of $0.53 in-line.
Harley-Davidson (HOG): Q2 EPS of $0.81 beats by $0.10. Revenue of $1.34B (+18% Y/Y). Raises motorcycles shipment FY'11 guidance to 228K-235K.
Omnicom Group (OMC): Q2 EPS of $0.96 beats by $0.05. Revenue of $3.49B (+14.7% Y/Y).
Today’s Opening and Closing Bells:
SuccessFactors, Inc. (SFSF) to celebrate the company’s cross-listing of its common stock on NYSE & NYSE Euronext & (NYX) markets following its transfer from Nasdaq. Founder and CEO of Lars Dalgaard will ring the opening bell.
Accenture Celebrates 10th Anniversary of NYSE Listing Chairman William D. Green and CEO Pierre Nanterme will ring the closing bell.