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Halftime Report 7.16.2012

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Citi kicked off the day with stronger-than-expected earnings of $1, analysts expected 89 cents. C reported a 12% fall in net income to $2.9 billion. Revenue for the quarter was $18.6 billion, down from $18.8 last year.

S&P 500 futures were down 2.5 points at 1349.25, NASDAQ futures traded flat at 2577.00, and Dow Jones Industrial Average futures fell 34 points to 12678.00.

EUR/USD futures started the day making lows of $1.2184 to then trade up to the current $1.2274.

Gold futures were nearly flat with a gain of 80 cents to $1592.80 and WTI crude futures gained 65 cents to $87.75.

MasterCard Inc. rose over 3% after reaching a settlement with several large banks over an antitrust lawsuit on credit card processing fees.

Arch Coal fell 7.82% after BMO analysts cut their recommendation for the stock due to weak balance sheets.


David Cornes holds a degree in economics from the University of Montana.

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Movers and Shakers – PRX – 7.16.2012

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Private equity group TPG agreed to buy out the pharma company for a premium of 37% over Friday’s closing price,  deal valued at about $1.9 billion. PRX is a specialty pharmaceutical company that develops, manufactures and markets drugs that typically have a high barrier of entry. TPG, a private equity group with $51.5 billion in assets is known for its investments in the healthcare sector.

David Cornes holds a degree in economics from the University of Montana.

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Chris Cruises the Globe 7.16.2012

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European shares begin the week mostly flat as the FTSEurofirst currently shows gains of .1% weighed down by profit warnings. Minor Rio Tinto dropped 1.7% after having their price targets downgraded by UBS and Nomura. Recently unstable Nokia lost 3.3% today with news that it has slashed prices of its
smartphone Lumia 900 in half in the US due to competition from rivals such as Apple. Investors remain skeptical and are patiently waiting US June retail sales numbers due out at 12:30 GMT.

Eurozone trade balance for May came in at 6.9B vs 4B expected and 3.7B from the prior month. The CPI for June came in plus 2.4% unchanged from May.

CLSA downgraded both Tyson foods and Smithfield foods today to underperform from buy and cut prices targets on the two food giants. Tyson is down in pre-trade while Smithfield is currently up.

Tata Motors, currently up 1.61%, is in talks with the Brazilian government to expand manufacturing capabilities to build Jaguar Land Rover Freelanders.

Commodities begin the week with a bleak outlook showing crude, natural gas, gold and silver all down at the moment.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu

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Morning Rage 7.16.2012

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Out today is the Retail Sales consensus at 8:30AM and Business Inventories at
10:00AM EST. For Retail Sales both May and April showed a decline and this is
expected again while Business Inventories is expecting another increase.

For the first time in four days the S&P 500 is up 1.65% at the open while 10-year
treasuries are down 1.59%. Oil is down as well at 0.59% and the dollar is up 0.33%.

What should you look for this week in earnings? Goldman Sachs tomorrow and
Morgan Stanley on Thursday. The spotlight has been put on them after JPM and
Wells Fargo both reported positive earnings last week.

Make sure to check out our webinar this Sunday, July 22nd and follow us on Twitter
@keeneonmarket!

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Details for Todays Free Earnings Trading Webinar 6pm CST

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Chartt Options Trading CNBCDetails for Todays Webinar : Trading Earnings
Time 6pm CST – 7pm EST
. You may enter the Webinar up to 60 minutes before the start of the presentation 

Click this Link to Enter http://www.omnovia.com/event/16401342366109

If you for some reason cannot attend the webinar the recording and the slides will be available for viewing after the presentation. 



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Doherty at the Close 7.13.2012

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J.P. Morgan sat atop the Dow’s leaderboard after the bank reported that second-quarter earnings fell from a year ago, but results exceeded expectations. Many investors were cautious on JP Morgan (JPM) as they awaited news on the size of the London Whale loss, ultimately revealed to be $4.4 billion in the second quarter.

Financial-sector stocks led all 10 of the S&P 500′s sectors higher, with strong earnings by Wells Fargo lending support for the rally. Wells climbed after the bank posted a 17% rise in second-quarter profit, as income in the bank’s mortgage-banking business rose.  Following their lead, Citigroup (C), Goldman Sachs (GS), and Morgan Stanley (MS) also gained on the day.

European markets were mostly higher, with the Stoxx Europe 600 adding 1.3%, amid China’s economic reading and solid demand at an Italian bond auction. Europe’s stock benchmark has risen for each of the last six weeks.

Asian markets were mostly higher following China’s economic report. China’s Shanghai Composite inched up less than 0.1%, while Japan’s Nikkei Stock Average added 0.05% to break a six-session slide. Hong Kong’s Hang Seng Index gained 0.4%.

In U.S. corporate news, Bridgepoint Education fell after the company, which operates Ashford University and University of the Rockies, said Ashford is being monitored by a higher education commission to confirm that the university meets criteria for accreditation.

Cytec Industries rose after the chemical and material technology firm predicted earnings well above analyst expectations for the second quarter. 

Thomas Doherty is marjoring in economics and Finance at Villanova University. Thomas@KeeneOnTheMarket.com