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 36 points and S&P futures are trading up 5 points. Traders will be focusing on the Fed today as the FOMC commences its two day meeting which concludes tomorrow afternoon, followed by a ground breaking press conference. Investors will be looking for signs about what the agency will do after its QE2 program ends in June. Also, earnings will be in the spotlight with several Dow components due to report including Ford, UPS, Coca Cola, and 3M.
DJIA down 26.11 pts/-0.21%/12,479.88
S&P down 2.13 pts/-0.16%/1,335.25
Nasdaq up 5.72 pts/+0.20%/2,825.88
Dow Futures up 36.00 pts/+0.25%
S&P Futures up 5.50 pts/+0.40%
Nasdaq Fut up 8.25 pts/+0.35%
CAC 40 +0.27%
NIKKEI 225 -1.17%
HANG SENG -0.54%
Overseas: World stock markets were mixed today. European markets are trading higher on positive corporate results. Asian markets were lower on disappointing corporate results.
Economic Reports: Consumer Confidence is expected to be 64.4 @10:00 a.m.
Gold:down $4.33 to $1,502.85
Oil:down $0.38 to $111.97
EUR/USD 1.4609 +0.0030
USD/JPY 81.6850 -0.1300
GBP/USD 1.6483 -0.0010
Volatility Index (VIX): As of the close of business Monday, April 25, the VIX is up 1.06 pts to 15.77
Companies Reporting Quarterly Earnings:
Ford (F): Q1 EPS of $0.62 beats by $0.12. Revenue of $33.1B (+17.8% Y/Y) beats by $3.41B.
3M Company (MMM): Q1 EPS of $1.49 beats by $0.05. Revenue of $7.31B (+15.2% Y/Y) beats by $0.37B.
Lockheed Martin (LMT): Q1 EPS of $1.55 beats by $0.04. Revenue of $10.63B (+3% Y/Y) beats by $0.06B.
Delta Air Lines (DAL): Q1 EPS of -$0.38 beats by $0.12. Revenue of $7.74B (+13% Y/Y) beats by $0.13B.
Lorillard (LO): Q1 EPS of $1.71 beats by $0.14. Revenue of $1.05B (+14.4% Y/Y) beats by $0.09B.
McGraw-Hill Companies (MHP): Q1 EPS of $0.39 beats by $0.02. Revenue of $1.28B (+7.6% Y/Y) beats by $0.02B.
Coach (COH): FQ3 EPS of $0.62 beats by $0.02. Revenue of $951M (+14.4% Y/Y) beats by $4M.
Office Depot (ODP): Q1 EPS of -$0.05 vs consensus of $0.02. Revenue of $2.97B (-3.2% Y/Y) in-line.
Hershey Foods (HSY): Q1 EPS of $0.72 beats by $0.02. Revenue of $1.56B (+11.1% Y/Y) beats by $0.08B.
Tellabs (TLAB): Q1 EPS of -$0.03 in-line. Revenue of $322M (-15% Y/Y) misses by $4M.
Celanese (CE): Q1 EPS of $0.96 beats by $0.14. Revenue of $1.58B (+14.5% Y/Y) beats by $0.07B.
Cummins (CMI): Q1 EPS of $1.75 beats by $0.31. Revenue of $3.86B (-6.7% Y/Y) beats by $0.26B.
Synovus Financial (SNV): Q1 EPS of -$0.09 beats by $0.03. Revenue of $M (+% Y/Y) beats by $M.
Today’s Opening and Closing Bells:
BlackRock Inc., Visits NYSE to Celebrate Recent Launch of Resources and Commodity Strategy Trust Denis Walsh III, Managing Director, BlackRock, will ring the opening bell.
Avalon Rare Metals (NYSE Amex: AVL) visits the NYSE. Donald S. Bubar, M.Sc., P.Geo, President and CEO will ring the closing bell.