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Commentary
Stocks May Move Modestly Higher On Drop In Jobless Claims - U.S. Commentary
After showing a strong upward move in the previous session, stocks could see some further upside in early trading on Thursday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 7 points. (Feb 2, 2012) Full Article
Economic News
Australia December Trade Surplus A$1.709 Bln
Australia posted a seasonally adjusted merchandise trade surplus of A$1.709 billion in December, the Australian Bureau of Statistics said on Thursday. (Feb 2, 2012) Full Article
Japan Steps Up Yen Warning; Azumi Says Can't Overlook Speculative Moves
Japan's Finance Minister Jun Azumi on Thursday stepped up his warning against excessive yen gains and said the government is ready to take decisive steps to weaken the currency. (Feb 2, 2012) Full Article
Eurozone Producer Price Inflation Slows As Expected
Eurozone producer price inflation eased as expected in December, lifting the scope for an interest rate cut from the European Central Bank, the latest figures from Eurostat showed Thursday. (Feb 2, 2012) Full Article
Spain Bond Sale Exceeds Target, Yields Fall
Spain successfully sold more debt than planned at an auction on Thursday that saw declining borrowing costs. The Spanish Treasury raised EUR 4.56 billion from the sale of government bonds known as Bonos. That exceeded the EUR 3.5 billion – EUR 4.5 billion target set for the auction. (Feb 2, 2012) Full Article
U.S. Initial Unemployment Claims Fall To 367,000, Lower Than Expected
New unemployment claims in the U.S. fell to a lower level than most experts had expected according to figures released Thursday by the Labor Department. For the week ending January 28 the DOL reported a seasonally adjusted level of 367,000 initial claims for unemployment. That marks a decrease of 12,000 from the previous week’s revised figure of 379,000 – slightly higher than the 377,000 initially reported. The four-week average of new unemployment claims, a figure that reduces some of (Feb 2, 2012) Full Article
U.S. Labor Productivity Up 0.7 Percent In Fourth Quarter
U.S. labor productivity increased by slightly less than expected in the fourth quarter of 2011, with output gains outpacing an increase in hours worked. According to statistics released Thursday by the Labor Department, fourth quarter worker productivity increased by 0.7 percent. The increase was a reflection of a 3.6 percent increase in output, somewhat offset by a 2.9 percent increase in hours worked. The overall productivity increase fell slightly short of the 0.8 percent increase pr (Feb 2, 2012) Full Article
Earnings News
Electronic Arts Q3 Loss Narrows
Electronic Arts Inc. (EA) Wednesday said third-quarter loss narrowed from the prior-year, when results were hurt by a large restructuring charge. Excluding exceptional items, the company posted a profit which beat analysts' estimates, as did revenues. Further, it issued its fourth-quarter financial guidance, with both earnings and revenues seen below analysts' consensus. (Feb 2, 2012) Full Article
Qualcomm Inc. (QCOM) announced Wednesday a jump in first-quarter profit, with MSM shipments improving 32 percent year-over-year. Adjusted earnings, as well as revenues, exceeded market estimates. The company also guided on second-quarter earnings and revenues and further, lifted its fiscal 2012 financial forecast. (Feb 2, 2012) Full Article
The Allstate Corp. (ALL) reported Wednesday a sharp rise in fourth-quarter profit primarily reflecting a plunge in catastrophe losses. The results topped the market view. (Feb 2, 2012) Full Article
Las Vegas Sands Q4 Profit Climbs
Las Vegas Sands Corp. (LVS) Wednesday posted a higher fourth-quarter profit thanks to the “strong” performance of its Macao and Singapore properties. Adjusted earnings were on par with the Street view, but revenues surpassed. (Feb 2, 2012) Full Article
BMC Software Inc. (BMC) Wednesday announced a rise in third-quarter profit on wider margins and also higher demand for its cloud management and Software-as-a-Service solutions. Adjusted earnings surpassed Street estimates, but revenues disappointed. The company also lifted its fiscal 2012 adjusted earnings guidance. (Feb 2, 2012) Full Article
Sony Corp. (SNE, SON.L) Thursday reported a third-quarter loss, hurt by losses from its stake in S-LCD and Sony Ericsson, as well as lower revenues. The company also revised its guidance for the current fiscal year, and now sees a wider loss on lower sales. (Feb 2, 2012) Full Article
Deutche Bank Q4 Profit Plummets
Deutsche Bank AG (DBK.DE, DB) said Thursday fourth-quarter profit plunged on the back of a 26 percent drop in Corporate & Investment Bank Group Division revenues, which were pulled down by a “subdued” market. (Feb 2, 2012) Full Article
Royal Dutch Shell plc (RDS-A, RDSA.L, RDS-B, RDSB.L) Thursday posted a lower fourth-quarter profit reflecting a fall in natural gas prices in North America and also a drop in refining margins. (Feb 2, 2012) Full Article
Netherlands-based Unilever plc (UN, UL, ULVR.L) announced Thursday a marginal rise in 2011 profit with commodity costs eating into an underlying sales growth delivered by price and volume improvements. (Feb 2, 2012) Full Article
AstraZeneca Q4 Profit Declines; to Trim 7300 Jobs
AstraZeneca plc (AZN, AZN.L) reported Thursday a fall in fourth-quarter profit from last year when results included a one-time gain related to pension benefits. The company also revealed plans to reduce about 7300 positions in a bid to counter loss of revenues from expiration of key patents. Further, it said that 2012 revenues may also be impacted by government intervention on pricing. (Feb 2, 2012) Full Article
Smith & Nephew Q4 Profit Drops
Smith & Nephew plc (SNN, SNN.L) Thursday posted a decline in fourth-quarter profit on the impact of greater restructuring costs and also a drop in trading margin. (Feb 2, 2012) Full Article
Boston Scientific Q4 Profit Dives
Boston Scientific Corp. (BSX) Thursday said fourth-quarter profit plummeted, hurt by large one-time charges and also lower revenues However, adjusted earnings were above the market view, while revenues missed. The company also issued its first-quarter adjusted earnings and revenues guidance. (Feb 2, 2012) Full Article
Viacom Inc. (VIA, VIAB) Thursday said first-quarter profit plunged on the impact of a hefty loss from discontinued operations, and also higher operating expenses. Per-share earnings from continuing operations went up on a lower share-count and topped analysts' estimates, while revenues missed. (Feb 2, 2012) Full Article
Starwood Hotels Posts Sharply Lower Q4 Profit
Starwood Hotels & Resorts Worldwide Inc.(HOT) Thursday reported a sharp slide in fourth-quarter profit on lower one-time gains. Adjusted earnings and revenues, however, went up year-over-year and exceeded market expectations. The company also guided on first-quarter earnings with an estimate above Street consensus. (Feb 2, 2012) Full Article
Mastercard Inc. (MA) posted Thursday a sharp decline in fourth-quarter profit on the impact of a hefty litigation reserve. Adjusted earnings, however, increased from last year and beat the Street view, but revenues were on par. (Feb 2, 2012) Full Article
Merck & Co. Inc. (MRK) declared Thursday a fourth-quarter profit as a result of lower one-time charges and also higher revenues. Adjusted earnings beat analysts' estimates, while revenues fell short. The company also issued its 2012 financial outlook. (Feb 2, 2012) Full Article
Cardinal Health Q2 Profit Rises; Ups FY12 Adj. EPS View
Cardinal Health Inc. (CAH) announced Thursday a rise in second-quarter profit thanks to improvement in its Pharmaceutical segment. Both adjusted earnings and revenues were above Street estimates. The company also raised its fiscal 2012 adjusted earnings guidance. (Feb 2, 2012) Full Article
Corporate News
Facebook Submits IPO Registration Statement
Facebook Inc. Wednesday announced, via an S-1 statement filed with the U.S. Securities and Exchange Commission, or SEC, its intention to offer Class A shares with a maximum aggregate price of $5 billion. (Feb 2, 2012) Full Article
American Airlines Sees Reduction of 13K Positions on Route to Profitability
American Airlines parent AMR Corp. (AAMRQ.PK) detailed Wednesday its target of $2 billion in cost savings and $1 billion in revenue enhancements by 2017 in a plan which may see the loss of approximately 13 thousand jobs. The restructuring is subject to approval by the Bankruptcy Court. (Feb 2, 2012) Full Article
Broker Ratings Changes
Robert W. Baird Downgrades Sykes Enterprises Inc (SYKE) To Neutral From Outperform With $20 Price Target
(Feb 2, 2012)
Todays WS Events
Boston Scientific Q4 11 Earnings Conference Call At 8:00 AM ET
Boston Scientific Corp. (BSX) will host a conference call at 8:00 AM ET on February 2, 2012 to discuss its Q4 11 earnings results. To access the live webcast, log on at www.bostonscientific.com/investors (Feb 2, 2012)
Cardinal Health Q2 12 Earnings Conference Call At 8:30 AM ET
Cardinal Health Inc. (CAH) will host a conference call at 8:30 AM ET on February 2, 2012 to discuss its Q2 12 earnings results. To access the live webcast, log on at cardinalhealth.com To hear the live call, dial 617-597-5341 with passcode 45509922. A replay of the call can be heard by dialing 617-801-6888, passcode 43183077 (Feb 2, 2012)
Dow Chemical Q4 & FY 11 Earnings Conference Call At 9:00 AM ET
The Dow Chemical Co. (DOW) will host a conference call at 9:00 AM ET on February 2, 2012 to discuss its Q4 11 earnings results. To access the live webcast, log on at www.dow.com/financial/presentations/webcast (Feb 2, 2012)
Gilead Sciences Q4 11 Earnings Conference Call At 5:00 PM ET
Gilead Sciences, Inc. (GILD) will host a conference call at 5:00 PM ET on February 2,2012 to discuss its Q4 11 results. To access the webcast, log on at www.gilead.com To access call, dial 1-800-260-8140 (US) or 1-617-614-3672 (International) with passcode 15171649. A replay of the call can be access by dialing 1-888-286-8010 (US) or 1-617-801-6888 (International) with passcode 32699245 (Feb 2, 2012)
Kellogg Q4 11 Earnings Conference Call At 9:30 AM ET
Kellogg Company (K) will host a conference call at 9:30 AM ET on February 2, 2012 to discuss its Q4 11 earnings results. To access the live webcast, log on at http://investor.kelloggs.com To hear the live call, dial (888) 338-8373 (US) or (973) 872-3000 (International). A replay of the call can be heard by dialing (855) 859-2056 (US) or (404) 537-3406 (International) with access code # 40865675 (Feb 2, 2012)
Mastercard Q4 11 Earnings Conference Call At 9:00 AM ET
MasterCard Incorporated. (MA) will host a conference call at 9:00 AM ET on February 2, 2012 to discuss its Q4 11 financial results. To access the webcast, log on at www.mastercard.com A call can be accessed by dialing 866-362-4666 (US) or 617-597-5313 (International) with passcode : 24950634. For replay a call, dial 888-286-8010 (US) or 617-801-6888 (International) with passcode : 66051474 (Feb 2, 2012)
Merck & Co Q4 11 Earnings Conference Call At 8:00 AM ET
Merck & Co Inc. (MRK) will host a conference call at 8:00 AM ET on February 2, 2012 to discuss Q4 11 earnings results. To access the live audio webcast, log on to www.merck.com/investors/events-and-presentations/home.html To listen to the call, dial (706) 758-9927 or (877) 381-5782. For a replay call, dial (404) 537-3406 or (855) 859-2056 and enter ID No. 23636062. (Feb 2, 2012)
Sunoco Q4 11 Earnings Conference Call At 5:00 PM ET
Sunoco Inc. (SUN) will host a conference call at 5:00 PM ET on February 2, 2012 to discuss its Q4 11 results. To access the live webcast, log on at www.SunocoInc.com (Feb 2, 2012)
The New York Times Q4 11 Earnings Conference Call At 11:00 AM ET
The New York Times Co., (NYT) will host a conference call at 11:00 AM ET on February 2, 2012 to discuss its Q4 11 earnings results. To access the live webcast, log on at www.nytco.com/investors To hear the live call, dial 877-545-1414 (US) or 719-325-4788 (International). A replay of the call can be heard by dialing 888-203-1112 (US) or 719-457-0820 (International) with access code 6225477 . (Feb 2, 2012)
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