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MARKET CURRENTS

  • 12:10 AM Notable earnings after Tuesday’s close: ADBE Comment! [Earnings]
  • 12:05 AM Notable earnings before Tuesday’s open: FDS Comment! [Earnings]
  • 12:00 AM Tuesday's economic calendar:
    FOMC meeting begins
    7:45 ICSC Retail Store Sales
    8:30 Consumer Price Index
    8:30 Housing Starts
    8:55 Redbook Chain Store Sales Comment!
  • 17 Jun, 11:28 PM Dan Loeb's Third Point raises its stake in Sony (SNE) to 7% from 6.5% according to a letter (text) sent to SNE's board. "Shareholders should not have to wait any longer," Loeb says, "the company’s most valuable untapped synergies lie within entertainment itself." Comment! [Tech, Breaking News, Top Stories]
  • 17 Jun, 11:16 PM Goldman's take on the power of the press: "Stocks maintain early gains until FT Harding hits the tape with an article suggesting a signal from Bernanke this Wednesday that the taper was drawing near … Then via Twitter Harding casts doubt on his own predictions and more than half of those losses are reversed [reinforcing] how important the FOMC Wednesday will be." Speaking of reinforcement, does this action just bolster Stan Druckenmiller's contention that all price signals are now compromised by central bank interference? Comment! [U.S. Economy]
  • 17 Jun, 10:53 PM Despite "mounting criticisms from multiple parties" the risk/reward profile on shares of Intuitive Surgical (ISRG) is "attractive," Wedbush says, initiating the stock at Outperform with a $580 price target citing the company's "track record of innovation" and the "ongoing launch of new instruments." Comment! [Healthcare]
  • 17 Jun, 10:42 PM Premier Exhibitions' (PRXI) board authorizes a stock repurchase plan of up to 1.5M shares (about 3% of the float). "Today's announcement is indicative of the improvement in our financial condition and our positive outlook for the future," says Chairman Mark Sellers. Premier has tumbled badly of late over questions about whether the sale of its Titanic artifacts will ever go through. Remain patient, say the bulls, who also remind of now-viable operations separate from the Titanic. Comment!
  • 17 Jun, 10:22 PM New home prices in China rise in 69 out of 70 cities surveyed in May, once again (previous) undermining government efforts to curb property inflation. Prices jump 12% and 10% in Beijing and Shanghai respectively, versus 10.3% and 8.6% gains posted in April. Comment! [Global & FX]
  • 17 Jun, 9:28 PM Caution abounds as global markets nervously eye the Fed. In Tokyo the Nikkei edges up 0.4% early while shares trade modestly lower in Australia (ASX -0.4%) and hover around the flatline in Korea. The yen weakens 0.44% against the dollar to ¥94.90 at last check. 1 Comment [Global & FX]
  • 17 Jun, 8:28 PM Sprint (S) files suit to end Dish's (DISH) $4.40/share tender offer for Clearwire (CLWR), alleging the deal (endorsed by Clearwire last week) violates Delaware law and the rights of Sprint and other "strategic" Clearwire investors. Among other things, Sprint claims the Dish offer can't be concluded without the approval of both Comcast and Clearwire shareholders owning at least 75% of shares (Sprint has a majority stake). Clearwire investors aren't bothered, shares +0.4% AH to $4.65. (previous: I, II) 2 Comments [Tech, M&A]
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TOP ARTICLES1:20 AM ET TUESDAY JUN 18
DIA 0.72%
SPY 0.77%
QQQ 0.93%
GLD -0.45%
ETF Movers
DFJ WisdomTree Japan SmallCap Dividend ETF 3.38%
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF 0.43%

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