By: LaSignoraMaria on Venerdì 11 Luglio 2003 17:16
Aggiorniamo il commento finanziario americano migliore che abbiamo:
Friday July 11th
8:10--Ciena was upgraded to neutral at Merrill Lynch.
8:07--Guitar Center was downgraded to inline at Goldman Sachs.
8:03--Lumenis warned Q2 revenues would be $68M vs. $85M consensus.
8:00--Wet Seal was downgraded to underperform from market perform at Wachovia.
7:49--Coke said the investigation is related to allegations that surfaced in a lawsuit by a former employee.
7:44--Coca-Cola said the US attorney’s office started an inquiry.
7:41--Stocks not weakening as much as one would expect, possibly due to the fact that GE announced several weeks ago that it saw weakness in its plastics business. GE’s stock has weakened since those comments were made.
7:40--GE Chairman said June short-cycle orders were up 10%-15%. Said he continues to expect slow economic growth.
7:35--The headline PPI was two-tenths above expectations, while the core PPI was two-tenths below expectations. More weight is usually put on the core, which is bond bullish and stock neutral. The trade deficit widened, which is bond bearish, but the market doesn’t pay much attention to the trade balance numbers.
7:32--GE lowered its full-year earnings guidance to $1.55-$1.61/sh vs. $1.60/sh consensus. Company had seen $1.55-$1.70/sh. Company lowered Q3 EPS guidance to 39c-42c/sh vs. 42c/sh consensus. Guided Q4 EPS to 46c-49c/sh vs. 48c/sh consensus.
7:30--June PPI was +0.5% vs. +0.3% expected. Core PPI was -0.1% vs. +0.1% expected.
Passenger cars were -0.7%.
Tobacco was -0.1%.
Energy prices were +3.4%.
Intermediate Goods were +0.5%.
Crude Goods were +4.5%.
7:30--May Trade Balance was -$41.8B vs. -$41.5B expected.
Exports were $82.05B vs. $81.33B.
Imports were $123.89B vs. $122.98B.
7:27--Staples was upgraded to outperform at Goldman Sachs.
7:24--Charter Communication said they will sell $1.7B in notes in a private offering.
7:12--Talbots was downgraded to neutral from outperform at CSFB.
7:09--KB Home raised its buyback authorization by 2 mln additional shares.
7:01--ECB’s Issing countered Schroeder by saying that it’s not the level of the euro that impacts exports, but much needed reform by the government.
7:00--Stocks are: S&P -1.00, Nasdaq -3.00.
-Germany’s Schroeder said “I assume the intelligent people in the ECB discuss whether they have done enough to the euro/dollar exchange rate to maintain the competitiveness of exports from Europe.” The comments indicated to the ECB that they should not let the euro continue to appreciate.
-French May Industrial Production was -1.4%.
-Tsy’s Snow said pension reform is a top priority.
-The House passed an asbestos liability fund of $153B. The fund would be funded mostly by insurance companies but would end lawsuits.
-Nikkei -3.2%, FTSE +0.3%, DAX +0.3%.
-Sonus Networks Q2 loss was -1c/sh vs. -2c/sh consensus.
-Teva Pharmaceutical won FDA approval for its generic Monopril.
-United Defense won a $64M contract from the US Marines.
-Millennium Pharmaceutical received positive comments in BusinessWeek.
-Home Depot was upgraded top buy from neutral at Bank of America.
-Kohl’s was upgraded to buy from neutral at Bank of America.
-Millennium Chemical was upgraded to buy at UBS.
-GE Q2 EPS was 38c/sh which was as expected. Revenues were $33.37B vs. $32.17B consensus. Company is trading -17c in pre-open trade.
-Juniper Networks Q2 EPS was 3c/sh vs. 2c/sh consensus. Revenue was $165M vs. $160M consensus. Company guided sales to levels that are flat with the previous quarter. Stock is -0.40/sh in overnight trading.
-Powerwave Q2 EPS was below expectations. Loss was -14c/sh vs. -9c/sh consensus. Revenues were $51.5M vs. $52.2M consensus.
-Shaw Group Q3 EPS was 30c/sh which was as expected. Company lowered Q4 and full-year EPS guidance.
-Manitowoc lowered Q2 & full-year EPS guidance.
-Anaren Microwave lowered Q4 EPS guidance.
-Quantum DLT cut its Q1 revenue outlook.
-JetBlue announced a $110M convertible. Company announced they would sell 2.6 mln shares on Jul 3rd.
-Quest Diagnostics was downgraded to underperform from perform at CIBC.
-Airtran was downgraded to neutral at UBS.
-Southwest Airlines was downgraded to reduce at UBS.
-Centex Construction was downgraded to reduce at UBS.
-Powerwave was downgraded to sell at Deutsche Bank.