Commentary November 14, 2012
After ending the previous session lower due to late-day weakness, stocks may move back to the upside in early trading on Wednesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 29 points. (Nov 14, 2012) Full Article
Economic News
Unemployment rate in South Korea edged down in October, despite a slowdown in the pace of job creation in the economy, the latest figures from Statistics Korea showed Wednesday. (Nov 14, 2012) Full Article
Sentiment among Australian consumers improved to its best level in 19 months in November, suggesting that the central bank's interest rate cuts since November last year are starting to have an impact on household confidence. The Westpac-Melbourne Institute Index of Consumer Sentiment increased 5.2 percent month-on-month to 104.3 in November. (Nov 14, 2012) Full Article
The number of persons claiming jobless allowance in the UK increased unexpectedly in October, while the unemployment rate fell to its lowest level in more than a year in the three months through September, the latest figures from the Office for National Statistics showed Wednesday. The claimant count rose by 10,100 from a month earlier to 1.58 million in October. (Nov 14, 2012) Full Article
The Bank of England forecast for contraction by the British economy and sluggish growth in the near term has opened the door for more quantitative easing. On the inflation front, the central bank does not expect inflation to fall back until the second half of 2013. In its quarterly Inflation Report published on Wednesday, the BoE trimmed its growth forecast but lifted its inflation outlook. (Nov 14, 2012) Full Article
Retail sales in the U.S. fell by more than expected in the month of October, according to a report released by the Commerce Department on Wednesday, although the drop came on the heels of a bigger than previously estimated increase in sales in September. (Nov 14, 2012) Full Article
With prices for light motor trucks and passenger cars showing a notable decrease in the month of October, the Labor Department released a report on Wednesday showing an unexpected drop in U.S. producer prices for the month. (Nov 14, 2012) Full Article
Earnings News
Cisco Systems Inc. (CSCO) on Tuesday reported stronger-than-expected profit for the third quarter, on improved sales and tight cost cutting measures. (Nov 14, 2012) Full Article
Staples Inc. (SPLS) on Wednesday reported a loss for the third quarter, as huge restructuring and impairment charges weighed on results. Sales decreased 2 percent for the period and fell in short of expectations. The Office supplies retailer confirmed its outlook for the full year. (Nov 14, 2012) Full Article
Tyco International Ltd. (TYC) on Wednesday slipped to a loss in the fiscal fourth quarter, hurt by break-up costs and lower revenues. (Nov 14, 2012) Full Article
Abercrombie & Fitch Co. (ANF) on Wednesday lifted its annual adjusted earnings outlook, after the retailer reported higher third-quarter results that surpassed expectations, driven by strong overseas and direct-to-consumer sales. (Nov 14, 2012) Full Article
Broker Ratings Changes
Nomura Ups Weir Group PLC (WEIR.L) To Neutral From Reduce
(Nov 14, 2012)
Robert W. Baird Lowers Hi-Crush Partners LP (HCLP) To Neutral From Outperform With $18 Down From $23 Price Target
(Nov 14, 2012)
Robert W. Baird Ups Hub Group Inc. (HUBG) To Outperform From Neutral With $38 Price Target
(Nov 14, 2012)
Todays WS Events
Aetna To Present At Credit Suisse Healthcare Conference; Webcast At 11:30 AM ET
Aetna Inc (AET) will present at the 2012 Annual Credit Suisse Health Care Conference in Phoenix. The event is scheduled to begin at 11:30 AM ET on November 14, 2012. To access the live webcast, log on at www.aetna.com/investor (Nov 14, 2012)
AT&T To Present At Morgan Stanley TMT Conference; Webcast At 2:50 AM ET
AT&T Inc. (T) will present at the Morgan Stanley TMT Conference in Barcelona. The event is scheduled to begin at 2:50 AM ET on November 14, 2012. To access the live webcast, log on at http://phx.corporate-ir.net/phoenix.zhtml?c=113088&p=irol-EventDetails&EventId=4863658 (Nov 14, 2012)
Bristol-Myers To Present At Credit Suisse Conference; Webcast At 3:30 PM ET
Bristol-Myers Squibb Co. (BMY) will present at the 2012 Credit Suisse Healthcare Conference. The event is scheduled to begin at 3:30 PM ET on November 14, 2012. To access the live webcast, log on at http://investor.bms.com (Nov 14, 2012)
Ford Motor To Present At Barclays Global Conference; Webcast At 12:45 PM ET
Ford Motor Co. (F) will present at the Barclays Capital 2012 Global Automotive Conference. The event is scheduled to begin at 12:45 PM ET on November 14, 2012. To access the live webcast, log on at www.shareholder.ford.com (Nov 14, 2012)
Johnson & Johnson To Present At Credit Suisse Conference; Webcast At 1:00 PM ET
Johnson & Johnson (JNJ) will present at the Credit Suisse 2012 Healthcare Conference . The event is scheduled to begin at 1:00 PM ET on November 14, 2012. To access the live webcast, log on at www.investor.jnj.com (Nov 14, 2012)
Microchip To Present At UBS Global Technology Conference; Webcast At 1:00 PM ET
Microchip Technology Inc. (MCHP) will present at the UBS Global Technology Conference . The event is scheduled to begin at 1:00 PM ET on November 14, 2012. To access the live webcast, log on at www.microchip.com (Nov 14, 2012)
Seagate To Present At Needham Conference; Webcast At 9:30 AM ET
Seagate Technology (STX) will present at the Needham 2012 Sixth Annual HDD/Flash Memory & Systems Conference. The event is scheduled to begin at 9:30 AM ET on November 14, 2012. To access the live webcast, log on at seagate.com (Nov 14, 2012)
Tyco International Q4 12 Earnings Conference Call At 8:00 AM ET
Tyco International Ltd. (TYC) will host a conference call at 8:00 AM ET on November 14, 2012, to discuss its Q4 12 earnings results. To access the live webcast, log on at http://investors.tyco.com To hear the live call, dial (800) 857-9797 (US) or (517) 308-9262 (International) with passcode "Tyco". A replay of the call can be heard by dialing (866) 465-0332 (US) or (203) 369-1414 (International) with passcode 6578. (Nov 14, 2012)
Verizon To Present At Morgan Stanley Conference; Webcast At 3:35 AM ET
Verizon Communications (VZ) will present at the Morgan Stanley 12th Annual Technology, Media & Telecom Conference . The event is scheduled to begin at 3:35 AM ET on November 14, 2012. To access the webcast, log on at www.verizon.com/investor (Nov 14, 2012)
Management Change
Tuesday, Zynga Inc. (ZNGA) said its finance chief David Wehner is leaving the company to take a senior finance job at Facebook Inc. (FB). The troubled social gaming company named chief accounting officer Mark Vranesh as new CFO. (Nov 14, 2012) Full Article
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