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Wednesday, 16 April 2014, 10:00 GMT
Overseas
  • Japan +3.01%.
  • Hong Kong +0.11%.
  • China +0.17%.
  • India -0.99%.
  • London +0.29%.
  • Paris +0.92%.
  • Frankfurt +0.81%.
Overseas Post your comment!


Wednesday, 16 April 2014, 9:57 GMT
Huntington Bancshares Incorporated EPS in-line
Huntington Bancshares Incorporated EPS in-line Post your comment!

Wednesday, 16 April 2014, 9:47 GMT
ADTRAN beats by $0.02, misses on revenue
  • ADTRAN (ADTN): Q1 EPS of $0.21 beats by $0.02.
  • Revenue of $147M (+2.8% Y/Y) misses by $2.65M.
  • Press Release
ADTRAN beats by $0.02, misses on revenue Post your comment!


Wednesday, 16 April 2014, 9:21 GMT
World stocks higher following better-than-expected Chinese GDP
  • Global equities are mainly higher on relief that the slowdown in China's economy in Q1 wasn't as bad as expected, with GDP of +7.4% topping consensus of +7.3%. The data helped offset nervousness about the continuing escalation in eastern Ukraine.
  • The Nikkei experienced yet another sharp move, this time jumping 3% following recent heavy selling. "Japanese shares are rebounding from recent declines because of the yen and U.S. share gains, while Alibaba is supporting technology companies," says market strategist Ayako Sera. Yesterday, Yahoo reported that Alibaba's Q4 net profit surged 110% to $1.35B. That helped boost shares in major Alibaba shareholder Softbank by 8.5%.
  • Elsewhere in Asia, Hong Kong +0.1%, China +0.2%, India -0.5%.
  • Euro Stoxx 50 +1.1%, London +0.3%, Paris +1.1%, Frankfurt +1%, Milan +2%, Madrid +1.3%.
  • U.S. stock futures: Dow +0.5%. S&P +0.5%. Nasdaq +0.6%
World stocks higher following better-than-expected Chinese GDP Post your comment!


Wednesday, 16 April 2014, 9:05 GMT
Eurozone monthly inflation rises
  • Eurozone CPI accelerated to +0.9% in March from +0.3% in February, but missed consensus of +1%.
  • On year, inflation fell to 0.5% (flash 0.5%) from 0.7%.
  • Core CPI moderated to +0.7% from +1% and vs forecasts of +0.8%.
  • The euro is +0.2% to $1.3845. (PR)
Eurozone monthly inflation rises Post your comment!


Wednesday, 16 April 2014, 8:49 GMT
Moelis IPO disappoints
  • Moelis' (MC) shares are due to debut on the NYSE today after the boutique investment bank raised $163M in its IPO by selling 6.5M Class A shares at $25 each, giving it a market cap of $1.36B.
  • The listing is the first for an investment bank since FBR & Co in 2007, but was smaller than expected, with Moelis previously offering 7.3M shares at $26-29.
  • The firm plans to use 80% of the proceeds for one-time payments to founder Ken Moelis and his partners; via B shares, which are given 10 votes each, Moelis has retained 97% of the voting power in the bank.
  • ETF: IPO
Moelis IPO disappoints Post your comment!


Wednesday, 16 April 2014, 8:40 GMT
U.K. jobless rate drops below 7%; wage rises in line with inflation
  • U.K. unemployment for the three months to February fell to 6.9% from 7.1% previously and came in under forecasts that were also 7.1%.
  • Average earnings including bonuses accelerated to +1.7% from +1.4% but missed expectations of +1.8%. Still, the figure brings wage growth in line with inflation of 1.7% after a long period in which salary rises remained well below CPI growth.
  • The pound spikes and is +0.2% at $1.6802, while the FTSE is +0.4%. (PR)
  • ETFs: FXB, EWU, GBB, FKU, EWUS, DXPS, DBUK
U.K. jobless rate drops below 7%; wage rises in line with inflation Post your comment!


Wednesday, 16 April 2014, 8:25 GMT
ASML net profit slumps 49% on quarter; downgrades revenue outlook
  • ASML's (ASML) Q1 net profit almost halved to €249.1M ($344M) from €481M in Q4 but exceeded expectations of €230M. Profit in Q1 a year earlier was €96M.
  • Sales slumped 24% on quarter to €1.4B, as expected. On year, revenue rose 57% from  €892M.
  • ASML downgraded its H1 sales forecast due to slowing revenues in Q2, saying it expects turnover of €3B including extreme ultraviolet (EUV) systems for producing smaller chips. The company's prior guidance was €3B excluding EUV products.
  • "That ASML is now including EUV in its sales guidance means a difference on a yearly basis of around €500-600M, which is about 10% of sales," says ING analyst Robin van den Broek.
  • Shares are -3.6% in Amsterdam. (PR)
ASML net profit slumps 49% on quarter; downgrades revenue outlook Post your comment!


Wednesday, 16 April 2014, 8:08 GMT
Alibaba could file for U.S. IPO on Monday
  • Alibaba Group (ABABA) could file the prospectus for its U.S. IPO on Monday, Reuters reports, adding that the listing could be worth over $16B.
  • The report comes after major shareholder Yahoo (YHOO) disclosed that Alibaba's Q4 net income surged 110% to $1.35B as revenue jumped 66% to $3.06B.
  • Alibaba's results helped Yahoo's shares climb 6.8% in AH trading. In Tokyo, shares in SoftBank (OTCPK:SFTBF), which owns 37% in Alibaba, jumped 8.5%.
Alibaba could file for U.S. IPO on Monday Post your comment!


Wednesday, 16 April 2014, 7:57 GMT
Ukraine retakes airport
  • Ukraine retook an airfield in the eastern Donetsk region yesterday after fighting with pro-Russian militias.
  • Ukrainian forces have also apparently surrounded the town of Slaviansk, which had been seized by the militias. In total, the separatists have taken over government and police buildings in up to 10 towns and cities in eastern Ukraine.
  • Ukraine's action has prompted Vladimir Putin to describe the country as being on the "brink of civil war;" it has also come ahead of talks tomorrow between senior diplomats from Russia, the EU, the U.S. and Ukraine.
  • Russia's Micex is -0.1%, while the USD-RUB is -0.4% at 36.095.
  • More on Ukraine
  • ETFs: RSX, RUSL, ERUS, RUSS, RSXJ, RBL, GUR, ESR, RUDR
Ukraine retakes airport Post your comment!


Wednesday, 16 April 2014, 7:38 GMT
Japanese industrial production drops 2.3% in February
  • Japanese industrial output fell 2.3% on month in February, as expected, after rising 3.8% in January.
  • On year, production +7% vs +10.3%.
  • The Nikkei is +3% and the USD-JPY is +0.3% at 102.26. (PR)
Japanese industrial production drops 2.3% in February Post your comment!


Wednesday, 16 April 2014, 7:29 GMT
Credit Suisse net earnings slump 34%
  • Credit Suisse (CS) Q1 net profit dropped 34% to 859M Swiss francs ($976M) and missed consensus of 1.09B francs.
  • Net revenues declined 8% to 6.47B francs.
  • Total assets -7% to 878B francs.
  • Investment bank pretax profit -36% to 827M francs, undershooting forecasts of 1.02B. Revenue from debt trading -25% to 1.49B francs, hurt by a lower contribution from rates and emerging markets businesses. Equities revenue -7.4% to 1.2B francs.
  • Earnings at Credit Suisse's private banking and wealth management unit, increased 15% to 1.01B, topping estimates of 941M francs.
  • Basel III common equity ratio 10%.  (PR)
Credit Suisse net earnings slump 34% Post your comment!


Wednesday, 16 April 2014, 6:56 GMT
Chinese growth moderates to 7.4%
  • China's GDP growth slowed to its lowest level in 18 months in Q1, moderating to 7.4% on year from 7.7% in Q4 but topping forecasts for 7.3%. The figure is below the government's target of 7.5%, although the country's leaders have indicated that the goal is flexible as they try to implement reform.
  • Falling momentum in investment and consumption, struggling real estate, and weak external demand were among the main factors that caused the slower expansion.
  • On quarter, GDP +1.4%, as expected, vs +1.8%.
  • The value of home sales fell 7.7% in Q1 to 1.1T yuan ($177B); new property construction -25% to 291M square meters (3.1B square feet).
  • Industrial production +8.8% in February +8.6% in January and consensus of +9%.
  • Retail sales +12.2% vs +11.8% and +12.1%.
  • Urban fixed-asset investment +17.6% vs +17.9% and +18.1%.
  • MNI Business Sentiment Indicator 51.1 in March vs 50.2 in February.
  • "All the forward-looking indicators are weak - growth is going to continue to slow," says Standard Chartered's Stephen Green. "We expect a mix of moderate monetary easing over the next few months and more aggressive reform measures."
  • However, Credit Agricole economist Dariusz Kowalczyk expresses a bit of optimism. "The silver lining is that retail sales and industrial output both rebounded in March, suggesting that growth is bottoming out."
  • The Shanghai Composite is flat.
  • ETFs: FXI, PGJ, GXC, FXP, YINN, KWEB, CYB, HAO, CNY, ASHR, CHIQ, TAO, CHIX, YANG, CQQQ, MCHI, QQQC, PEK, XPP, YAO, CHXX, YXI, CHXF, FXCH, CHII, ECNS, CHIM, CHIE, FCA, KFYP, TCHI, CHNA, KBA
Chinese growth moderates to 7.4% Post your comment!


Wednesday, 16 April 2014, 4:10 GMT
Notable earnings after Wednesday?s close
Notable earnings after Wednesday?s close Post your comment!

Wednesday, 16 April 2014, 4:05 GMT
Notable earnings before Wednesday?s open
Notable earnings before Wednesday?s open Post your comment!

Wednesday, 16 April 2014, 4:00 GMT
Wednesday's economic calendar
Wednesday's economic calendar Post your comment!

Tuesday, 15 April 2014, 23:03 GMT
Microsoft unveils cloud data service, analytics platform, new database
  • Microsoft's (MSFT) new Azure Intelligent Systems Service allows companies to capture and manage machine data from various embedded devices and sensors, regardless of the OS they use. The service aims to enable Web-connected embedded platforms in verticals such as retail, health, manufacturing, and transportation.
  • IT outsourcing firms Cognizant and Infosys are among Microsoft's service partners. Intel and ARM are already going after this market by via solutions that combine their CPU designs with related software.
  • Microsoft is also unveiling its Analytics Platform System, a hardware appliance (to be sold by OEMs) that allows data handled by SQL Server's data warehousing solution (used to process/analyze structured data) and the Hadoop big data framework (used for giant unstructured datasets) to be integrated and jointly queried.
  • Satya Nadella calls the solution "big data in a box." Teradata (TDC) and Informatica (INFA) are among the companies in Microsoft's crosshairs.
  • SQL Server 2014 has also been launched. As promised, the latest update to Microsoft's database platform (produces $5B+/year in sales) features in-memory capabilities that arguably make it a meaningful rival to SAP's popular Hana in-memory database.
  • While going over the products, Nadella declares Microsoft needs to create a "data culture" to thrive, in part by using its own products. "Think of Office as the canvas, or the surface area, or the scaffolding from which you can access the data."
Microsoft unveils cloud data service, analytics platform, new database 3 comments!


Tuesday, 15 April 2014, 22:48 GMT
Spyglass Resources declares $0.0225 dividend
Spyglass Resources declares $0.0225 dividend Post your comment!

Tuesday, 15 April 2014, 22:46 GMT
Northern Trust Corporation declares $0.33 dividend
  • Northern Trust Corporation (NTRS) declares $0.33/share quarterly dividend, 6.5% increase from prior dividend of $0.31.
  • Forward yield 2.21%
  • Payable July 1; for shareholders of record June 6; ex-div June 3.
Northern Trust Corporation declares $0.33 dividend Post your comment!


Tuesday, 15 April 2014, 22:45 GMT
With no end in sight to cash burn, Alpha Natural creditors' alarm grows
  • The plunge in coal prices that has sent smaller competitors into bankruptcy is alarming bondholders in Alpha Natural Resources (ANR), as the no. 2 U.S. coal producer consumes more cash than ever, Bloomberg reports.
  • ANR’s $3.43B of debt equals 37.9x EBITDA, highest among U.S. coal producers, and its bonds have lost more than 9% this year, the most among met coal producers in the Bloomberg High Yield Corporate Bond Index.
  • "It’s going to get worse before it starts getting better," one analyst says. "It’s a completely oversupplied market."
With no end in sight to cash burn, Alpha Natural creditors' alarm grows 4 comments!


Tuesday, 15 April 2014, 22:38 GMT
Long Run Exploration declares $0.0335 dividend
Long Run Exploration declares $0.0335 dividend Post your comment!

Tuesday, 15 April 2014, 22:25 GMT
Reuters: ConMed exploring a sale of the company
  • Surgical device maker ConMed (CNMD) is exploring a sale of the company, Reuters reported earlier today, after activist investors late last year took issue with its performance and corporate governance.
  • The company's advisers, BoA Merrill Lynch and Greenhill, reportedly have contacted orthopedic device makers in recent weeks to gauge interest.
  • CNMD has an attractive orthopedics and sports medicine business that could appeal to companies such as Zimmer Holdings (ZMH), Johnson & Johnson (JNJ), Stryker (SYK), Covidien (COV) and Medtronic (MDT).
  • CNMD shares gained 7.2%, rallying from a loss before the report late in the session.
Reuters: ConMed exploring a sale of the company Post your comment!


Tuesday, 15 April 2014, 22:10 GMT
Repligen replacing Hi-Tech Pharmacal in S&P 600
  • Repligen (RGEN) will take Hi-Tech Pharmacal's (HITK) spot in the S&P SmallCap 600 following Thursday's close.
  • RGEN +2.6% AH
Repligen replacing Hi-Tech Pharmacal in S&P 600 Post your comment!


Tuesday, 15 April 2014, 22:07 GMT
Targa Resources declares $0.6475/share quarterly dividend
  • Targa Resources (TRGP) declares $0.6475/share quarterly dividend, 6.6% increase from prior dividend of $0.6075.
  • Forward yield 2.46%
  • Payable May 16; for shareholders of record April 28; ex-div April 23.
Targa Resources declares $0.6475/share quarterly dividend Post your comment!


Tuesday, 15 April 2014, 22:04 GMT
Speedway Motorsports, Inc. declares $0.15 dividend
  • Speedway Motorsports, Inc. (TRK) declares $0.15/share quarterly dividend, in line with previous.
  • Forward yield 3.35%
  • Payable June 6; for shareholders of record May 16; ex-div May 13.
Speedway Motorsports, Inc. declares $0.15 dividend Post your comment!


Tuesday, 15 April 2014, 22:03 GMT
Targa Resources Partners LP declares $0.6475 dividend
  • Targa Resources Partners LP (NGLS) declares $0.7625/share quarterly dividend, 2% increase from prior dividend of $0.7475.
  • Forward yield 5.00%
  • Payable May 16; for shareholders of record April 28; ex-div April 23.
Targa Resources Partners LP declares $0.6475 dividend Post your comment!


Tuesday, 15 April 2014, 22:00 GMT
On the hour
  • S&P +0.16%.
  • 10-yr -0.02%.
  • Euro -0.01% vs. dollar.
  • Crude +0.26% to $103.84.
  • Gold -0.05% to $1302.5.
On the hour Post your comment!


Tuesday, 15 April 2014, 21:58 GMT
Athlon reports record Q1 production, to raise funds for potential acquisitions
  • Athlon Energy (ATHL) announces offerings for 11M shares of common stock and $500M in senior notes to fund potential and pending acquisitions and for general corporate purposes.
  • Separately, ATHL says Q1 production reached a record quarterly high of nearly 17K boe/day, up 71% Y/Y, above the high end of its earlier guidance range; approves an increased 2014 capital budget for drilling expenditures of $700M.
  • Shares -1.2% AH.
Athlon reports record Q1 production, to raise funds for potential acquisitions Post your comment!


Tuesday, 15 April 2014, 21:58 GMT
FDA approves BSX defibrillators, heart failure devices
  • The newly-approved FDA products include Boston Scientific's (BSX) Dynagen Mini and Inogen Mini implanatable defibrillators (ICDs), and its Dynagen X4 and Inogen X4 heart failure devices (CRT-Ds).
  • BSX asserts its Mini ICDs are "up to 20 percent smaller by volume and up to 24 percent thinner than competitive devices," and that its X4 CRT-Ds offer "70 percent more pacing options to address high capture thresholds and phrenic nerve stimulation effectively, along with the largest battery capacity in the industry."
  • BSX +0.9% AH
FDA approves BSX defibrillators, heart failure devices Post your comment!


Tuesday, 15 April 2014, 21:49 GMT
S&P can't convince judge to split up $5B fraud case
  • A federal judge rejects a request by Standard & Poor's (MHFI) to split up the U.S. government's $5B lawsuit accusing it of lying about its credit ratings, but the judge gives S&P permission to obtain evidence the government may have sued in retaliation for the agency's decision to lower the U.S. credit rating in 2011.
  • S&P has said former Treasury Secretary Geithner angrily told McGraw Hill Chairman Terry McGraw in an Aug. 8, 2011 phone call, three days after the downgrade, that he was "accountable" for the company's actions and that S&P's conduct would be "looked at very carefully."
S&P can't convince judge to split up $5B fraud case 4 comments!



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