Morning Notes: U.S.

by: Dealing Floor

From DealingFloor:


- Matching the Reuters Estimates consensus, Corning delivered Q4 earnings of
$0.22 per share. Revenues rose 16.2% year/year to $1.2 bln vs. the $1.21 bln
consensus. For Q1, the co. foresees EPS of 0.21-0.23 vs. the $0.22 consensus,
on revs of $1.20-$1.25 bln vs. the $1.23 bln consensus. Corning dropped 8%
after hours.

Further reporters after the bell were Netflix (+9%), Sun Microsystems (+0.5%),
Red Envelope (-22%) and Checkfree (+8%).


Investors’ focus will remain on fourth quarter earnings reports, and
accompanying profit guidance, on Wednesday. Prior to the opening bell, results
from Abbott Labs (NYSE:ABT), Amerada Hess (NYSE:AHC), Ameritrade (NASDAQ:AMTD), Automatic Data
(NASDAQ:ADP), Bristol-Myers Squibb (NYSE:BMY), Colgate-Palmolive (NYSE:CL), Hershey Foods (NYSE:HSY),
WellPoint (WLP), and Xerox (NYSE:XRX) are likely to be amongst those in focus.
Following the close, Juniper Networks (NYSE:JNPR), Novellus (NASDAQ:NVLS), Qualcomm (NASDAQ:QCOM),
and Siebel Systems (SEBL) are on the heavy docket. Today’s economic front
features two items: At 16:00 CET, December existing home sales are due out,
trailed by the EIA’s latest inventory report at the bottom of that hour.