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 down 13 points and S&P futures are trading down 3 points following strong gains in the previous trading session on hopes the European debt crisis will be resolved. European leaders are preparing for a summit to stem the region’s debt crisis. Moody’s downgraded Spain by one notch. Apple reported weaker than-expected 3rd quarter earnings results, the company blamed it on rumors about the new iPhone 4S which hurt demand.
DJIA up 180.05 pts/+1.58%/11,577.05
S&P up 24.52 pts/+2.04/1,225.38
Nasdaq up 42.51 pts/+1.63/2,657.43
Dow Futures down 13.00 pts/-0.11%
S&P Futures down 3.50 pts/-0.25%
Nasdaq Fut down 19.58 pts/-0.81%
CAC 40 +1.13%
NIKKEI 225 +0.35%
HANG SENG +1.29%
Overseas: World stock markets were up today. European and Asian markets were up on optimism the Euro zone debt crisis will be resolved at the upcoming summit of EU finance leaders.
Economic Reports: Consumer Price Index is expected to be 0.3% and Housing Starts expected to be 0.590 at 8:30 a.m.
Gold:down $6.10 to $1,651.85
Oil:down 0.03 to $88.31
EUR/USD 1.3843 +0.0108
USD/JPY 76.7750 -0.0140
GBP/USD 1.5800 +0.0095
Volatility Index (VIX): As of the close of business Tuesday, October 18, the VIX is down 1.67 at 31.72
Companies Reporting Quarterly Earnings:
Morgan Stanley (MS): Q3 EPS of $1.14 beats by $0.82. Revenue of $9.9B (+45.6% Y/Y) beats by $2.5B.
U.S. Bancorp (USB): Q3 EPS of $0.64 beats by $0.02. Revenue of $4.8B (+4.5% Y/Y) beats by $90M.
United Technologies (UTX): Q3 EPS of $1.47 beats by $0.03. Revenue of $14.8B (+8.7% Y/Y) beats by $250M.
Comerica (CMA): Q3 EPS of $0.51 misses by $0.04.
St. Jude Medical (STJ): Q3 EPS of $0.78 beats by $0.02. Revenue of $1.38B (+12% Y/Y) beats by $10M.
Textron (TXT): Q3 EPS of $0.45 beats by $0.14. Revenue of $2.80B (+13.5% Y/Y) misses by $40M. Raises FY11 EPS outlook to $1.05-1.15 from an earlier $0.90-1.00.
Travellers (TRV): Q3 EPS of $0.79 misses by $0.15. Revenue of $6.41B (+3.4% Y/Y) beats by $830M.
Sensata Technologies (ST): Q3 EPS of $0.50 in-line. Revenue of $474.3M (+23.7% Y/Y) misses by $1.5M. Sees Q4 EPS of $0.46-0.50 and revenue of $460-480M.
Rockwood (ROC): Q3 EPS of $1.06 in-line. Revenue of $940.9M (+17.4% Y/Y) misses by $28M.
PNC Financial Services (PNC): Q3 EPS of $1.55 beats by $0.05. Revenue of $3.54B (-1.5% Y/Y) misses by $30M.
Knight Capital Group (KCG): Q3 EPS of $0.48 beats by $0.11. Revenue of $397.4M (+65.9% Y/Y) beats by $39.4M.
BlackRock (BLK): Q3 EPS of $2.83 beats by $0.13. Revenue of $2.23B (+6.4% Y/Y) misses by $60M.
Bank of New York Mellon (BK): Q3 EPS of $0.53 beats by $0.01. Revenue of $3.68B (+7.9% Y/Y) misses by $30M.
Apollo Group (APOL): FQ4 EPS of $1.02 beats by $0.08. Revenue of $1.12B (-10.9% Y/Y) beats by $20M. Sees FY12 revenue of $4.1-4.3B.
Today’s Opening and Closing Bells:
Stifel Financial Corp. Visits the New York Stock Exchange Chairman, President and CEO Ronald J. Kruszewski will ring the opening bell.
NuStar Energy (NS) to mark the company’s 10th anniversary as a public company on the NYSE. Chairman Bill Greehey and CEO Curt Anastasio will ring the closing bell.