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MARKET CURRENTS

  • 7:32 AM Zale (ZLC): FQ3 EPS of $0.13 beats by $0.14. Revenue of $442.7M misses by $1.13M. (PR) Comment! [Earnings, Breaking News]
  • 7:31 AM Target (TGT): Q1 EPS of $1.05 beats by $0.13. Revenue of $16.7B (+1% Y/Y) misses by $0.12B. (PR) Comment! [Earnings, Breaking News]
  • 7:28 AM REX American Resources (REX): Q1 EPS of $0.40 beats by $0.36. Revenue of $178.7M misses by $2.79M. (PR) Comment! [Earnings, Breaking News, Consumer]
  • 7:28 AM Sony (SNE) could have a well-needed opening in the TV market after rivals Samsung and LGE Electronics spent billions of dollars on OLED display technology which is behind schedule and will come to the market priced extremely high. With the turmoil, Sony could capture more LCD market share and create a sweet niche with its 4K TVs which will be priced between LCDs and OLEDs. Comment! [Consumer, Global & FX, Tech]
  • 7:27 AM BNY Mellon (BK) is on a revenue push, planning to increase its Wealth Management sales force by 50% over the next 3 years. Along with that will be hires in private and mortgage banking, portfolio management, wealth strategists, and additional sales support staff. The moves comes as near-invisible interest rates have squashed growth in BNY's other businesses (revenue fell 1% in Q1). (PR) Comment! [Financials]
  • 7:24 AM Oncolytics Biotech (ONCY) says a Phase 2 trial testing an intravenous Reolysin/ carboplatin and paclitaxel combo against metastatic malignant melanoma met its primary endpoint of demonstrating a PR or better in three or more patients. Shares +14% premarket. (PR) Comment! [Healthcare, On the Move]
  • 7:19 AM The IMF calls for more forceful action on monetary policy in its latest report on the U.K. The agency is likely to get its wish with the only thing seemingly holding back the BOE from easier policy being a wait for a new sheriff to arrive (Mark Carney in July). On fiscal policy, the IMF says take it easy on austerity, suggesting a corporate tax cut paid for by broadening the VAT tax base. Excuse me? Already lower on the session, cable (FXB) snores through the report. The FTSE (EWU) is flat, continuing at a 12-year high. Comment! [Global & FX, Breaking News]
  • 7:17 AM Ford (F) says close to 75% of its plants in North America are operating on more than two shifts a day as the automaker ramps up production. The extra shifts could account for as many as an extra 240K vehicles this year. (Previous: Ford cut backs summer shutdown) Comment! [Consumer]
  • 7:13 AM Saks (SKS) could draw bids from sovereign-wealth funds in the Middle East and Asia along with P-E interest, according to The New York Post. Analysts think a deal price could fall in the $18 to $20 range to give the 41-store chain a valuation of over $2.6B and give 17% stakeholder Carlos Slim a tidy profit on his investment. SKS +17.7% premarket to $16.08. Comment! [Consumer, On the Move]
  • 7:08 AM S.Y. Bancorp (SYBT) declares $0.20/share quarterly dividend, in line with previous. Forward yield 3.30%. For shareholders of record June 10. Payable July 1. Ex-div date June 6. (PR) Comment! [Dividends]
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TOP ARTICLES7:34 AM ET WEDNESDAY MAY 22
DIA 0.33%
SPY 0.16%
QQQ 0.14%
GLD -1.64%
ETF Movers
DXJ WisdomTree Japan Hedged Equity ETF 1.46%
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF 1.37%

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