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MARKET CURRENTS

  • 12:10 AM Notable earnings after Wednesday’s close: FNSR, JBL, MU, RHT Comment! [Earnings]
  • 12:05 AM Notable earnings before Wednesday’s open: FDX Comment! [Earnings]
  • 12:00 AM Wednesday's economic calendar:
    7:00 MBA Mortgage Applications
    10:30 EIA Petroleum Inventories
    2:00 PM FOMC Announcement
    2:00 PM FOMC Forecast
    2:30 PM Bernanke Press Conference Comment!
  • 18 Jun, 7:36 PM Pool Corp. (POOL) lowers its FY13 earnings guidance as the wholesale distributor said cooler and unusually wet weather in its seasonal markets in North America and Europe led to later-than-usual pool openings and lower-than- expected sales. The company cut its 2013 per-share earnings view by a dime, now expecting to earn between $2.03 to $2.13. Shares -6.3% AH. Comment! [Earnings, On the Move]
  • 18 Jun, 7:31 PM Dish (DISH) is all but officially abandoning its bid for Sprint (S). In a fresh update, the satellite TV provider says the revised SoftBank (SFTBF.PK) deal makes it "impracticable" for it to submit a new offer by Sprint's June 18 deadline, and that it will now focus its "efforts and resources" on the Clearwire (CLWR) tender offer. It increasingly looks as if SoftBank will end up with Sprint (vote on June 25), and Dish with a big minority stake in Clearwire that it could use to obtain a 4G network/spectrum deal with the 3 other parties in this saga. S -1.8% AH. CLWR +1.8%. (previous) 7 Comments [Tech, M&A]
  • 18 Jun, 7:12 PM Amgen (AMGN) ups its stake in Cytokinetics (CYTK) to 11,909,406 shares from 3,484,806 shares reported on March 21. The increase now puts AMGN's holding at 7.58% of CYTK's outstanding float. CYTK +7.4% AH. Comment! [Healthcare, On the Move]
  • 18 Jun, 7:09 PM IBM is launching a slew of cloud apps/services it says are aimed at C-Suite execs, but is light on specifics. Big Blue says its SmartCloud Solutions portfolio now offers 100+ business functions for decision-making execs such as CFOs, CMOs, procurement/supply chain officers, and HR chiefs to leverage. A new social media analytics solution for CMOs (will compete against CRM's Radian6 and ORCL''s Collective Intellect) is among them. The announcement comes on the heels of IBM's ~$2B acquisition of cloud infrastructure provider SoftLayer, which the company plans to integrate with its SmartCloud unit. Comment! [Tech]
  • 18 Jun, 6:56 PM Money manager and Fox Business contributor Tobin Smith is dumped by the network following a report his firm accepts money from microcap companies to promote their stocks. Smith and friends just pocketed $50K from a stock endorsement for Petrosonic Energy (PSON.OB), a Bulletin Board company that has no revenues - "taking a bag of cash and luring the dumbest, poorest people into losses," Josh Brown says. 10 Comments
  • 18 Jun, 6:50 PM Alcatel-Lucent (ALU) CEO Michel Combes will use tomorrow's strategy update to unveil plans to cut €1B ($1.34B) worth of costs, and to divest €1B worth of assets over the next 3 years (less than some investors have been hoping), Les Echos reports. Combes will also announce plans to focus on the router and mobile infrastructure markets - the former has been a bright spot for Alcatel thanks to strong edge router sales, and the latter has been faring better lately thanks to growing 4G orders. (earlier) 3 Comments [Tech]
  • 18 Jun, 6:44 PM More on China Cord Blood (CO): FQ4 easily beats estimates across the board on a 33% jump in total sales. Accumulated subscriber base rose by 30.1% Y/Y. Gross margin also rose to 79.8%, from 76.6%. Shares +3.4% AH. Comment! [Healthcare, Global & FX, Earnings, On the Move]
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TOP ARTICLES12:58 AM ET WEDNESDAY JUN 19
DIA 0.86%
SPY 0.74%
QQQ 0.74%
GLD -1.15%
ETF Movers
DXJ WisdomTree Japan Hedged Equity ETF 2.48%
BUND PIMCO Germany Bond Index ETF 1.33%

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