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MARKET CURRENTS

  • 5:55 AM Toll Brothers (TOL): FQ2 EPS of $0.14 beats by $0.06. Revenue of $516M beats by $4.94M. (PR) Comment! [Earnings, Breaking News]
  • 5:42 AM CEO Kazuo Hirai says Sony's (SNE) board is considering a proposal by Third Point's Dan Loeb to spinoff the company's entertainment group. Shares of SNE rose sharply in U.S. trading Tuesday after reports surfaced that the company is debating the merits of Loeb's plan. Hirai didn't say whether he supported the idea himself, but noted that the company intends to " build positive relations with its major investors," FT says. Comment!
  • 5:17 AM Citi upgrades Bristol-Myers Squibb (BMY) to Buy from Neutral and raises its price target to $55 from $33 saying the company's "very broad checkpoint agent [is] positioned to capture a very significant share of an emergent $24 billion checkpoint agent market." Citi also hikes its FY17 EPS forecast by 31%. Comment! [Healthcare]
  • 5:04 AM Minutes from the Bank of England's latest policy meeting show the committee's vote to keep rates unchanged was unanimous while three out of nine members (including Mervyn King) voted to increase the size of the central bank's asset purchases by £25B. Sterling (FXB) moves 0.44% lower against the greenback to 1.5094. Comment!
  • 4:55 AM More from the BOJ: Governor Kuroda elected to steer largely clear of what many view as a no-win situation Wednesday when he didn't use this week's policy meeting statement to jawbone government bonds (JGBL) higher. Surging yields have underscored concerns that the BOJ's purchases could suck liquidity from the bond market, stoking volatility, but rising yields can also be interpreted as a sign investors expect the BOJ will be successful at reflating the Japanese economy. However, acknowledging this is somewhat counterintuitive as "the whole aim of QE is to keep bond yields down," one economist tells CNBC, adding that the BOJ is "damned if they do, damned if they don't." Yields on JGB 10s moved higher to 0.89% after the statement. Comment! [Global & FX]
  • 12:10 AM Notable earnings after Wednesday’s close: DRYS, EGHT, GAME, HPQ , LTD, PETM, PSUN, SNPS, VVTV, WDAY 3 Comments [Earnings]
  • 12:05 AM Notable earnings before Wednesday’s open: AEO, BAH, DSX, ELOS, EV, LOW, SPLS, TGT, TOL, ZLC Comment! [Earnings]
  • 12:00 AM Wednesday's economic calendar:
    7:00 MBA Mortgage Applications
    10:00 Existing Home Sales
    10:00 Bernanke testifies on Economic Outlook
    10:30 EIA Petroleum Inventories
    2:00 PM FOMC minutes Comment!
  • 21 May, 11:15 PM Bank of Japan keeps monetary policy unchanged. Comment! [Breaking News, Global & FX]
  • 21 May, 10:24 PM Don't say Goldman didn't warn you (I, II). Corn (CORN) prices fell Tuesday to multi-week lows after the Department of Agriculture reported a 43 percentage point increase from last week to this week in the amount of the corn crop planted, bringing the total to 71% compared to just 28% a week ago. Comment! [Commodities]
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TOP ARTICLES5:57 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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