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Monday, November 9 2009  |  06:00 EDT  | 
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Market Currents Today - Monday, November 9, 2009
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  • 05:56 PM On Northrop Grumman's (NOC) TASC sale analyst call, Barclays' Carter Copland notes that prices for units sold by defense firms have consistently been higher than a sum-of-parts analysis would indicate, and wonders - if so - why don't they continue to carve themselves up? To which CFO Jim Palmer replies: Who says we aren't? Comment!
  • 05:46 PM A smaller percentage of banks were tightening lending standards in the third quarter, according to the Fed's loan officer survey, but far from any kind of comfort zone. "We're back to just normally tight, not pathologically tight," says an economist. 1 Comment
  • 05:35 PM Electronic Arts (ERTS): Announces cost-reduction plan that will eliminate 1,500 jobs by the end of the first quarter (900 of them in development) saving $100M annually. Expects October is another down month. Shares now -1.9% AH. (PR; earnings) Comment!
  • 05:16 PM The EU's lobbing of red flags at Oracle's (ORCL) planned $7.4B takeover of Sun Microsystems (JAVA) is sowing doubt, pushing Sun's stock down after hours to 15% below the offer price. Oracle says it will "vigorously oppose" the EU's decision, but might it still bail out on the deal? And if so, what next? Comment!
  • 05:03 PM McDermott International (MDR): Q3 EPS of $0.50. Revenue of $1.7B (+1%) vs. $1.5B. (PR) Comment!
  • 04:49 PM As Warren Buffett (BRK.A) takes on a giant "lifetime" investment in Burlington Northern (BNI), he's looking to sell his stakes in two other railroads, Union Pacific (UNP) and Norfolk Southern (NSC). Comment!
  • 04:39 PM Rackspace (RAX): Q3 EPS of $0.06 misses by $0.01. Revenue of $162M (+17%) vs. $159M. Shares -7.6% AH. (PR) Comment!
  • 04:36 PM Clear Channel Outdoor (CCO): Q3 EPS of -$0.10 misses by $0.02. Revenue of $661M (-19%) vs. $665M. (PR) Comment!
  • 04:34 PM Live Nation (LYV): Q3 EPS of $0.82 beats by $0.02. Revenue of $1.8B (+14%) vs. $1.6B. Expects Ticketmaster merger to close in Q1. Shares -1.4% AH. (PR) Comment!
  • 04:32 PM Lions Gate Entertainment (LGF): FQ2 EPS of $0.26 beats by $0.20. Revenue of $394M (+3%) vs. $375M. Shares +5.7% AH. (PR) Comment!
  • 04:29 PM Hologic (HOLX): FQ4 EPS of $0.28 beats by $0.01. Revenue of $403M (-9%) vs. $400M. Sees Q1 EPS of $0.24-0.26 vs. $0.30 on revenue of $400M-405M vs. $414M, and full-year EPS of $1.15-1.19 vs. $1.24, on revenue of $1.625B-1.65B vs. $1.69B. Shares -6.7% AH. (PR) Comment!
  • 04:26 PM Fluor (FLR): Q3 EPS of $0.89 misses by $0.01. Revenue of $5.4B (-4%) vs. $5.5B. (PR) Comment!
  • 04:24 PM MBIA (MBI): Q3 EPS of -$3.50 misses by $2.45. Total consolidated revenue of $-620M, incorporating an $810M unrealized loss on insured credit dervatives. Shares -14% AH. (PR) Comment!
  • 04:16 PM Priceline.com (PCLN): Q3 EPS of $3.45 beats by $0.53. Revenue of $731M (+30%) vs. $694M. Sees Q4 EPS of $1.52-1.62 vs. $1.49 on sequential revenue gain of 24-28%. Shares +6.5% AH. (PR) Comment!
  • 04:14 PM Sequenom (SQNM): Q3 EPS of -$0.24 beats by $0.04. Revenue of $9M (-21%) vs. $8.5M. Shares -0.6% AH. (PR) Comment!
  • 04:12 PM Qiagen (QGEN): Q3 EPS of $0.26 beats by $0.03. Revenue of $260M (+13%) vs. $257M. Raises full-year EPS guidance to $0.88-0.90 vs. $0.85. Shares +0.3% AH. (PR) Comment!
  • 04:09 PM Electronic Arts (ERTS): FQ2 EPS of $0.06 misses by $0.01. Revenue of $1.15B (+2%) vs. $1.13B. Shares +3.1% AH. (PR) Comment!
  • 04:05 PM Treasurys mostly flat in the wake of today's auction, though 10-year notes rose slightly. The 30-year yield flat at 4.4%; 10-year -0.02 to 3.48%; 5-year near flat at 2.295%; 2-year +0.01 to 0.85%. Dollar -1% against euro, -0.8% against pound, -0.9% against Swiss franc, +0.1% against yen. Comment!
  • 04:03 PM Filled with light volume, the markets floated to session highs, and a 52-week high for the Dow. The DJIA closes +2% (+203.52) to 10,226.94; S&P 500 +2.2% (+23.77) to 1,093.07; Nasdaq +2% (+41.62) to 2,154.06. Crude +2.3% to $79.24. Gold +0.6% to $1,102.50. 1 Comment
  • 03:55 PM The Friday failure of UCBH (UCBH) mostly likely means it joins CIT Group (CIT +38.2%) as a second lost TARP investment, the Treasury says. UCBH was approved for nearly $299M in funds a year ago, while CIT received more than $2B. Comment!
  • 03:46 PM Sprint Nextel (S) - up 17.5% after earlier news of its additional investment into Clearwire (CLWR) - announces fourth-quarter cuts of 2,000-2,500 jobs, to save an annualized $350M in labor. Comment!
  • 03:34 PM Revenues will drop sharply for U.S. airlines in the Thanksgiving holiday, says the Air Transport Association, as the recession keeps many at home. Planes won't be any emptier, though, after the deepest capacity cuts since World War II. Comment!
  • 03:25 PM The Supreme Court is close to a ruling that observers say will increase pressure on mutual funds to justify their fees. Justices' questions suggest they're paying attention to the discounts large institutional clients get from what retail investors pay. (previously) 1 Comment
  • 03:14 PM The Fed says nine out of 10 stress-tested banks are on track - having raised $77B in seven months - and singles out GMAC, though the Fed says the lender will meet its need via the TARP Automotive financing program. 2 Comments
  • 03:10 PM Treasurys are flat after a $40B three-year note auction: the 30-year yield +0.01 to 4.41%; 10-year -0.01 to 3.49%; 5-year flat at 2.3%; 2-year +0.01 to 0.85%. Dollar -1% against euro, -0.8% against pound, -0.9% against Swiss franc, -1.9% against loonie, +0.2% against yen. Comment!
  • 03:04 PM With the G-20 recommitting to stimulus, stocks have gone nowhere but up from the open, with a 2% gain for the S&P 500 and the Dow just under a 200-point gain. With an hour left in the session, DJIA +1.9% to 10,216. S&P 500 +2% to 1,091. Nasdaq +1.8% to 2,149. Crude +2.5%. Gold +0.5%. Comment!
  • 02:54 PM As the G-20 promises to keep stimulating economies, the VIX drops to a two-week low, at 22.83, and may have further to go: Strategists are talking about being unsurprised if it touches 20 or even 18, a level it hasn't reached since May 2008. 1 Comment
  • 02:39 PM In a Q-and-A, Jim Rogers elaborates on which homework Nouriel Roubini didn't do ("all of it ... I have a problem talking about a bubble when assets are this depressed from their all-time highs") and says it's one of the few times he hasn't been short anywhere in the world - there's "a gigantic amount of money being printed and it has to go somewhere." 5 Comments
  • 02:27 PM Don't look now, but big chip-equipment maker Applied Materials (AMAT +5.5%) has been sprinting to solar, most recently by acquiring Advent Solar. As the chip downturn hit it where it hurts, the company has been pivoting to a business that may be adding major revenue by next year. Comment!
  • 02:13 PM A JPMorgan Chase (JPM) staff memo says the company is lifting a freeze on salaries over $60,000. Under that amount: Staffers will get a $500 "special award." 2 Comments
  • 02:03 PM Don't forget the seasonal adjustment, says Floyd Norris: The number of jobs actually rose, by 80,000, before being adjusted downward and creating an ugly double-digit unemployment number. He suspects seasonality is less of a factor this year, when the economy is changing direction entirely. 2 Comments
  • 01:53 PM Semiconductor shipments hit a record level in the third quarter, according to IDC, lifting chip stocks. The group warns of a "gotcha" that could come in the first quarter; one reason: "We have to be on the lookout for when China decides it can't consume more processors." Comment!
  • 01:44 PM Cisco Systems (CSCO +0.6%) is offering a three-part $5B debt deal to price later today. The company had $10.3B in long-term debt outstanding as of July. 1 Comment
  • 01:36 PM Sector ETF strength: Coal– KOL +5.2%. Gold Miners– GDX +4%. Steel– SLX +3.9%. Real Estate– IYR +3.5%. Gasoline– UGA +3.4%. Basic Materials– IYM +3.1%. Oil Services– OIH +3%. Agribusiness– MOO +3%.
    Sector ETF weakness: Livestock– COW -0.3%. Biotech– BBH -0.1%. 1 Comment
  • 01:17 PM Dow leaders: AXP +5.1%. CAT +4%. TRV +3.5%. BAC +3.5%. GE +3.2%.
    Just one Dow component down: KFT -1.3%. Comment!
  • 01:07 PM Treasury sells $40B in three-year notes at 1.404% (.pdf). Bid-to-cover ratio of 3.33 vs. a recent 2.82; indirect bidders take 68.5% vs. a recent 55%. Big jump in direct bids to 7.5% vs. recent 5.9%. Ten-year Treasurys moved slightly higher; the 30-year yield is -0.01 to 4.39%; 10-year -0.02 to 3.48%; 5-year -0.01 to 2.29%; 2-year +0.01 to 0.85%. 2 Comments
  • 01:02 PM A steady rise from the open has stocks at session - and 2009 - highs. At midday, the DJIA +1.5% to 10,179. S&P 500 +1.7% to 1,087. Nasdaq +1.5% to 2,144. Crude +3.1%, just under $80. Gold +0.9%. Comment!
  • 12:50 PM After almost three months of gains, non-agency mortgage bonds slumped by as much as 7% in the past week as a glut of sales "swamped the market," says Barclays Capital. Analysts said it wasn't just year-end selling, but money managers and hedge funds booking profits before a winter downturn. Comment!
  • 12:40 PM Pfizer (PFE +2.4%) will close down six of 20 research sites to streamline operations after taking over Wyeth last month, and confirms the moves will result in further job cuts. 1 Comment
  • 12:34 PM Google (GOOG +1.7%) says it will buy privately held mobile-ad technology firm AdMob for $750M in stock, a week after rumors that Apple (AAPL) was floating a $400M offer. Comment!
  • 12:30 PM Three lunchtime reads:
    1) On carry and other tales
    2) Gordon Brown: How we can restore trust in financial institutions
    3) Housing: Cash for Craters Comment!
  • 12:24 PM Fertilizer's three-way "forever war" between Agrium (AGU), CF Industries (CF) and Terra (TRA) - Agrium bidding for CF, CF bidding for Terra - may be coming into its endgame. Comment!
  • 12:12 PM Asset manager Kent Born on Developers Diversified Realty's (DDR +5.8%) $400M MBS sale, the first of its type since June 2008: "It would be good for the market psyche to actually see a new deal done. But as a practical matter it's not going to get us back to the type of deals that were the bread and butter of the market merely two years ago." Comment!
  • 12:01 PM With a bloc of shareholders standing opposed to takeover, Tandberg says Cisco has extended its $3B offer until Nov. 18. Comment!
  • 11:53 AM Cadbury's (CBY +0.7%) language that paints Kraft's (KFT -1.3%) offer as "derisory" has a history with U.K. takeover targets: It's not too much, not too little, just the right amount of disdain without incurring the wrath of the Takeover Panel. Comment!
  • 11:40 AM David Leonhardt's look at how wages are rising - up 1% in real terms - has Derek Thompson thinking deflation, and he's not sure if wage increases are "good news, or bad news with lipstick." 4 Comments
  • 11:28 AM Four months after cutting off lending, Advanta (ADVNA -72.8%) filed for bankruptcy and may turn its banking unit (not covered by the filing) over to an FDIC receivership. "The economic debacle over the last two years devastated Advanta’s small-business customers and Advanta itself," said CEO Dennis Alter, who's waiving his salary and bonus. 3 Comments
  • 11:18 AM Contrary to the Conference Board's rosy outlook this morning, Gluskin Sheff's David Rosenberg says unemployment may hit a post-war high of 13% as growth stagnates. "This is going to be the mother of all jobless recoveries. At the beginning of the year, who was calling for unemployment to go up to 10%?" 8 Comments
  • 11:10 AM U.S. companies largely blew away Q3 earnings estimates, but not regional banks. More than half missed the mark as asset quality continued to deteriorate, and they don't have the huge trading desks that have helped offset losses at their bigger rivals. streetTRACKS KBW Regional Banking ETF (KRE) +1.7% to $20.25. 3 Comments
  • 11:04 AM "There are indications that the U.S. dollar is now serving as the funding currency for carry trades," IMF says in a recent report (.pdf). "These trades may be contributing to upward pressure on the euro and some emerging-economy currencies." While the dollar "has moved closer to medium-run equilibrium," it is still "on the strong side." 3 Comments
  • 10:51 AM Car parts maker Lear (LEA) emerges from bankruptcy protection with less than $1B in debt, down from about $3.8B. Shares to begin trading on a "when issued" basis today, and regularly within several days. CEO Bob Rossiter says he's committed to "maintaining a disciplined financial profile" that will allow Lear to "continue investing in new products and technologies globally, as well as growth in emerging markets." Comment!
  • 10:48 AM Tech giants will be watching the so-called Bilski case in the Supreme Court today, which could impact the type of technologies software innovators can and can't patent. "Software and biotech patents are at risk of all being invalidated," one former patent judge says. 1 Comment
  • 10:38 AM Fannie Mae (FNM +1%) may need to write down the value of its $5.2B low-income housing tax credits after the Treasury vetoed its plan to sell them. "We are evaluating whether Treasury's decision changes our prior determination that we continue to have the intent and ability to sell or otherwise transfer" the credits, Fannie says in an 8-K this morning. 2 Comments
  • 10:33 AM The number of single-family homes under water fell to 21% in Q3 from 23% last quarter, according to Zillow.com's Q3 Real Estate Market Report, while home prices were flat over the period. Foreclosure sales rose to 21.4% of all sales from 14.7% a year ago, and the firm estimates another three million homes remain hidden in the foreclosure pipeline. 1 Comment
  • 10:20 AM Cigarette giant Reynolds American (RAI +0.6%) is in advanced talks to buy closely held Niconovum AB, a Swedish maker of nicotine-replacement therapies such as Zonnic pouch and Zonnic gum. A deal would be the largest move by Reynolds into nicotine products, as sales of cigarettes continue to decline. Comment!
  • 10:12 AM Sector ETF strength early on: Coal– KOL +4.6%. Gold Miners– GDX +4.5%. Steel– SLX +4.1%. Semis– SMH +3%. Semis– IGW +2.9%. Oil Services– OIH +2.8%. Agribusiness– MOO +2.7%. Basic Materials– IYM +2.6%. Real Estate– IYR +2.5%. Gasoline– UGA +2.5%. Regional Banks– KRE +2.4%. Basic Materials– XLB +2.1%. Oil– USO +2.1%. Heating Oil– UHN +2%. Broker/Dealers– IAI +2%. Retailers– XRT +2%.
    Weakness: none. Comment!
  • 10:07 AM Dow leaders early on: CAT +3.7%. GE +3.6%. AA +2.8%. INTC +2.6%. AXP +2.6%. TRV +2.3%. BAC +2%. DD +1.8%. BA +1.7%. Laggards: KFT -0.5%. CSCO -0.1%. Comment!
  • 10:05 AM Stocks were strong out of the gate, and get a further lift from strong employment trend data, with Conference Board boldly predicting an end to job losses early next year. DJIA now +1.1% to 10131. S&P +1.2% at 1082. Nasdaq +1.3% to 2140. Crude +2.2% to $79.17. Gold +1% at $1,107. Treasurys are flat ahead of the $40B 3-year note sale. Comment!
  • 10:00 AM Oct. Employment Trends Index: +0.7% to 89.3 vs. +0.3% to 88.7 (revised from 88.5) last month. "The Employment Trends Index has likely turned a corner in September, and the historical relationship between the index and employment suggests that job losses will end in early 2010," Conference Board says. Comment!
  • 09:54 AM Electronic Arts (ERTS +2%) to acquire Pet Society developer Playfish for about $300M, and a possible additional $100M based on milestones. "Social gaming, with its emphasis on friends and community, is seeing tremendous growth and this is the right time to invest to strengthen our participation in this space," EA says. Comment!
  • 09:51 AM Axa Asia Pacific (AXAPY.PK), the Australian unit of France’s biggest insurer (AXA), rejects an unsolicited $10B bid from its parent and AMP Ltd. (AMLTF.PK). CEO Rick Allert said Axa Asia Pacific would consider a higher offer, but called today's offer too low. Axa said today it will raise £2B through a rights offer to finance acquisitions. Comment!
  • 09:44 AM The first commercial mortgage deal of 2009: Developers Diversified Realty (DDR) comes to the market with a much-anticipated $400M commercial mortgage-backed bond. The bond, dubbed 2009-DDR1, is eligible for financing under TALF. Comment!
  • 09:38 AM U.K. Press Complaints Commission says it found no proof journalists at Rupert Murdoch's (NWS) The News of the World regularly hacked the phones of public figures to secure sensational stories. The probe was prompted after reports in The Guardian said the practice at the tabloid was widespread. In response, Guardian said the PCC did not have the "ability, the budget or the procedures to conduct its own investigations." Comment!
  • 09:30 AM At the open: Dow +0.7% at 10090. S&P +0.8% to 1077. Nasdaq +0.8% to 2129. Crude +2% to $79. Gold +1.2% to $1,108.50. Dec. 30-year bond +0.08% too 118-17. Euro +1.1% vs. dollar. Yen -0.2%. Pound +1%. $Cdn +1.5%. Comment!
  • 09:25 AM After weeks of wrangling, GE (GE) and Comcast (CMCSA) reportedly agree to value NBC Universal at about $30B, and a deal to give Comcast a 51% stake in GE's media and entertainment arm could come as early as this week. It's still unclear whether 20% NCBU stakeholder Vivendi has signed off on the proposal. Comment!
  • 09:20 AM Wynn Resorts (WYNN) declares a special cash dividend of $4.00/share, payable on Dec. 3 to shareholders of record on Nov. 19. Shares +7.8% premarket. Comment!
  • 09:15 AM Futures suggest a strong start to a week with sparse economic data, and at the tail-end of Q3 earnings. The uptrend in global equities appears to be intact, analyst Ian Williams says, noting central banks' willingness to extend stimulus measures should perpetuate a favorable backdrop for risky assets. S&P +1% to 1076. 1 Comment
  • 09:11 AM RadioShack (RSH) +11% premarket on news the iPhone (AAPL) will be coming to its stores later this month. Credit Suisse calls the move a game-changer, while FBR says it expects RSH will be able to execute as well if not better than peers (WMT, BBI) in wireless. 1 Comment
  • 09:05 AM East West Bancorp (EWBC) +50% premarket after it said late Friday it will acquire the banking operations of United Commercial Bank in an FDIC-assisted transaction. East West will recieve $10.4B in assets and assume $9.2B in liabilities. Comment!
  • 09:00 AM Premarket gainers: EWBC +51%. ARIA +14%. RSH +11%. FUQI +10%. SAY +9%. TSFG +7%. NCS +7%. JASO +6%. DISH +6%. CVM +6%. AIB +6%. ANF +6%. RTP +5%. MBI +5%. NG +4%. LVS +4%. SLW +4%. HL +4%. GFI +4%. SWKS +4%. BHP +4%. FAS +4%. TGB 4%. XOMA +4%. Comment!
  • 08:54 AM Sources say Sprint Nextel (S) and a number of its Clearwire JV (CLWR +6.9%) partners are preparing to pump another $1.5B or more into the wireless broadband provider. $1B of a new infusion would come from Sprint, with Comcast (CMCSA), Intel (INTC), Time Warner Cable (TWC) and Bright House Networks kicking in another $500M. Google (GOOG), a key JV partner, isn't thought to be involved in this round. Comment!
  • 08:48 AM Cadbury (CBY +1.4%), not surprisingly, recommends shareholders "emphatically" reject Kraft's (KFT) "derisory" offer, which it says "is worse than the proposal that the Board has previously rejected as fundamentally undervaluing Cadbury and its prospects," due to the fall in Kraft's share price. Comment!
  • 08:42 AM The Obama healthcare overhaul passed a House vote by a narrow margin Saturday (220-215), setting up a fractious debate in the Senate this week. In an appearance Sunday, Obama said he is "absolutely confident" a healthcare bill will also pass through the Senate. 6 Comments
  • 08:35 AM Tesoro (TSO): Q3 EPS of $0.24 beats by $0.23. Revenue of $4.74B in-line. Expects to spend less than its stated capex budget of $600M. Shares +3.7% premarket. (PR) Comment!
  • 08:33 AM Enzon Pharmaceuticals (ENZN) to sell its specialty pharmaceutical business to the sigma-tau Group for $300M plus another $27M if it hits certain milestones. ENZN will also retain royalties of 5-10%on incremental net sales above a baseline amount. ENZN is halted. Comment!
  • 08:31 AM Western Refining (WNR): Q3 EPS of -$0.05 beats by $0.01. Revenue of $1.83B (-40.6%) vs. $1.75B. Shares +0.5% premarket. (PR) Comment!
  • 08:23 AM Energy Conversion Devices (ENER): FQ1 EPS of -$0.34 misses by $0.03. Revenue of $42.9M (-55.2%) vs. $56.4M. Shares -0.1% premarket. (PR) Comment!
  • 08:22 AM T. Rowe Price Group (TROW) to acquire a 26% stake in UTI Asset Management, India's No. 4 asset manager, for about $138M. "This provides T. Rowe Price with an opportunity to participate directly in the tremendous growth potential of India's asset management industry," CEO James Kennedy said. Comment!
  • 08:17 AM Kraft's (KFT) offer will disappoint shareholders and analysts who thought the initial proposal undervalued Cadbury (CBY), and expected Kraft to sweeten the pot ahead of today's deadline. The cash and share offer originally valued Cadbury at £10.2B, but now's worth about £9.8B after Kraft's share price fell. Comment!
  • 08:10 AM As expected, Kraft (KFT) announces a formal, hostile offer for Cadbury (CBY) shares - in line with its unofficial offer of 300p and 0.2589 Kraft shares for each Cadbury share. "We remain convinced of the strategic merits for both companies of combining Kraft Foods and Cadbury. We believe that our proposal offers the best immediate and long-term value for Cadbury's shareholders and for the company itself compared with any other option currently available, including Cadbury remaining independent," Kraft says. KFT -0.1% premarket. CBY -1.2%. Comment!
  • 07:58 AM Quicksilver Resources (KWK): Q3 EPS of $0.25 beats by $0.03. Revenue of $207M (-12.5%) in-line. (PR) Comment!
  • 07:53 AM Hospitality Properites Trust (HPT): Q3 FFO of $0.77 misses by $0.01. Revenue of $264M (-15.4%) vs. $272M. (PR) Comment!
  • 07:45 AM GTx (GTXI): Q3 EPS of -$0.35 in-line. Revenue of $3.6M (+20%) vs. $4M. (PR) Comment!
  • 07:37 AM Warner Chilcott (WCRX): Q3 EPS of $0041 misses by $0.01. Revenue of $253M (+9%) in-line. (PR) Comment!
  • 07:28 AM Nationwide Health Properties (NHP): Q3 FFO of $0.56 in-line. Revenue of $97.8M (+3.4%) vs. $94.4M. Sees full-year EPS of $2.22-2.23 vs. $2.28. (PR) Comment!
  • 07:19 AM Windstream (WIN): Q3 EPS of $0.24 beats by $0.03. Revenue of $734M (-7.5%) vs. $747M. (PR) Comment!
  • 07:07 AM Rockwell Automation (ROK): FQ4 EPS of $0.37 beats by $0.10. Revenue of $1.07B (-27.6%) in-line. (PR) Comment!
  • 07:00 AM Overseas markets and commodities surged Monday, and U.S. futures have gained overnight. The dollar is getting pounded in early trading.
    Asia: Nikkei +0.2% to 9809. Hang Seng +1.7% to 22208. Shanghai +0.4% to 3176. BSE +2.1% to 16499.
    Europe at midday: FTSE +1.8% to 5219. CAC +1.6% to 3766. DAX +1.7% to 5579.
    Futures: Dow +0.85% at 10063. S&P +0.9% to 1076. Nasdaq +0.9%. Crude +1.5% to $78.60. Gold +1.1% at $1,108. 30-year Tsy -0.18% to 118-07. 10-year -0.07%. Euro +0.9% vs. dollar. Yen -0.2%. Pound +1.1%. Comment!
  • 06:34 AM DISH Network (DISH): Q3 EPS of $0.18 misses by $0.26. Revenue of $2.89B (-1.5%) vs. $2.93B. Net customers +241K to 13.85M. (PR) Comment!
  • 12:10 AM Notable postmarket earnings: ARNA, CCO, ERTS, FLR, HOLX, LGF, LYV, MBI, MDR, PCLN, QGEN, RAX, SLW, SQNM Comment!
  • 12:05 AM Notable premarket earnings: DISH, ENER, GTXI, HPT, KWK, NHP, ROK, SRE, TSO, WCRX, WIN, WNR Comment!
  • 12:00 AM Monday's economic calendar:
    10:00 Employment Trends Index
    1:00 PM Results of $40B, 3-Year Note Auction
    6:30 PM Fed's Tarullo: Financial Regulation Comment!
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