The complete list of Brazil ADRs traded on U.S. exchanges is listed below:

European countries together with Russia rank number two and three in arms exports to other countries. Next to the US, Russia, UK, France, Germany have large defense industries that cater to the demands of the developing world. Earlier today in an article analyzing the global arms market, I discussed the top 10 defense contractors in the US.

Now lets take a look at the foreign defense-sector stocks that trade in the US markets as ADRs:

[Excerpted from Bill Cara's Daily Report]

This story is getting old. Just when it looks like the equitymarket needs a boost, the US Dollar plunges almost -1% ($USD 76.08-0.70 -0.92%) and Financials (XLF +2.3%) and Energy (XLE +1.6%) fall inline. How low can the Dollar go?

Brazil is one of the year-to-date top performing markets among the emerging countries. The infrastructure in Brazil is good and the country is blessed with an incredible array of natural resources.

The Dow Jones Brazil Titans 20 ADR Index represents the 20 largest and most liquid Brazilian stocks traded on the major exchanges of the United States.

The first clue to the possibility that US equity markets may have reached an intermediate-term cycle top, i.e., -8 to -12 percent or three months or more of falling prices to come, occurred on Friday afternoon when over-excited talking heads on Financial Entertainment TV caused me to turn off the noise. Monday, Goldman Sachs confirmed the views of many market analysts that the market is in need of a rest.

At the closing bell on Monday, the S&P 500 (1,003.12 -7.36 -0.73%), the DJIA (9,306.36 -63.71 -0.68%) and the NASDAQ Composite (1,983.26 -16.99 -0.85%) failed to match the 2009 highs set on Friday, and after a late morning attempt fizzled prices began to fall, all of the major indexes closing down on the day.

The Great Reflation play continued to unfold on Monday. At the closing bell, the S&P 500 (1,002.63 +15.15 +1.53%), the DJIA (9,286.56 +114.95 +1.25%) and the NASDAQ Composite (2,008.61 +30.11 +1.52%) were all sharply higher. As with the Thursday and Monday rallies, the market leaders were Basic Materials (XLB +3.5%) and Financial (XLF) sectors. Consumer Discretionary (XLY) and Energy (XLE) were also strong.

Economic data did play a role on Monday along with the falling US Dollar (77.59 -0.69 -0.88%). But the $USD has sunk to a new cycle low, with prospects of a further decline to 74, and that picture took on some clarity after 3:00am ET in the early morning yesterday.

In this post I have identified an updated list of 26 stocks which have broken out on big (very unusual) volume. As always, I believe the stocks listed in this post are worthy of adding to the stock watch list.

As stated at the bottom of this post, I have chosen two stocks from the list which I may be speculating with in the weeks to come. Last week I had a stock LaserCard (LCRD) which I speculated with Monday the day after posting it, and the day they reported earnings (after the bell). It is a week later, and up over 50%. Here is the outcome to that trade.

I received a question from a subscriber earlier this week that resonated with another question I received from a subscriber shortly after I sold one-half of our position in Indian mining company Sterlite Industries (SLT) for a gain of 95.12% a couple of months ago. Both these questions were related to the trading axiom "Let your winners run but cut your losses quickly". In the eyes of both these subscribers I had violated this axiom.

The subscriber who wrote to me about Sterlite Industries and Tata Motors (TTM), wanted to know if I felt any seller's remorse after selling 100% of my position in Tata Motors and 50% of my position in Sterlite right before a rally in Indian stocks that saw Sterlite's stock move up to $11.57 just days after I sold it for $9.19. He was quite clearly referring to the "Let your winners run.." part of the trading rule of thumb I mentioned above.

By John N. Simon

Boeing (BA) just released its latest "Current Market Outlook" (CMO), which analyzes the past and future demand for commercial jet aircraft with 30 seats or more. One of the first things you find as you flip through the pages is that Boeing didn't agree with Airbus (imagine that)!

The commodity price sensitive US stocks were hammered Wednesday after the $USD rallied hard, knocking down the prices of Crude Oil ($WTIC 66.12 -2.43 -3.54%) and Gold ($GOLD 964.00 -17.50 -1.78%). It’s not surprising then that the losing sectors were Energy and Basic Materials (XLE -3.85%, XLB -3.43%).

At the close, the DJIA (8,675.28 -65.59 -0.75%), S&P 500 (931.76 -12.98 -1.37%) and NASDAQ Composite (1,825.92 -10.88 -0.59%) were down. No sectors were down. Some call it profit-taking; others call it the Interventionists clearing out the stops before trying to move the market higher. All of us, however, appreciate the need to actively trade this market.

I really like some of the products out of Van Eck Global's ETF lineup; we've covered quite a few in the past. One beef I've had is while we have a litany of individual Chinese companies to choose from with American ADRs, the choices in India, Brazil (and if you are are a gunslinging investor) Russia are far more sparse. In an increasingly flat world, I do believe demographics will be destiny, as after we covered the 4th most populous country in the world two weeks ago [May 22, 2009: Guest Post - Indonesia; A Must Own Emerging Market] - let's now look at the 5th most populous.

For Brazilian exposure there are approximately 30-35 individual ADRs on American exchanges as best as I can tell - some of the more obvious big cap names are:

At the end of each trading week, our market direction radar scans the Hillbent 3000 universe (minimun average daily volume of 100k and largest 3000 market capitalization stocks) for the top 3 and bottom 3 sectors based upon aggregate performance and analyzes their winners and losers.

Using this weekly sector report on a regular basis allows Hillbent.com’s readers to efficiently monitor sector rotations and investor sentiment biases.

There was not much action for a Friday despite a spate of earnings reports and reporting of economic data to consider.

At the close, the DJIA (+5.90 +0.07% to 8131.33, S&P 500 (+4.30 +0.50% to 869.60), and NASDAQ Composite (+2.63 +0.16% to 1673.07) were all higher, but barely.

At the end of each trading week, Hillbent scans for the equity market for potential anomalies which exhibit extremely oversold and overbought conditions. Past observations have revealed that such candidates may experience reversal corrections to the upside or downside once the market reconfirms that their fundamentals remain solidly intact or relatively poor. From a contrarian perspective, these lists may also serve as a precursor to changes in institutional sentiment and underlying fundamentals.

(The purpose of this report is not to provide specific recommendations, but instead serve as a time-saving reference tool and starting point for investment ideas as the upcoming trading week unfolds. Of course, the results generated are not always perfect and users are strongly encouraged to perform their own due diligence on these names. Note that overbought and oversold conditions are based upon proprietary algorithms and quantitative models instead of conventional technical analysis indicators. As a supplement to this report, please refer to our Market Condition Summary to determine if market direction trends support a bullish or bearish investment bias over short-term, intermediate, and long-term timeframes.)

• Geithner's New Deal. Telling lawmakers the American financial system "will require comprehensive reform. Not modest repairs at the margin, but new rules of the game," Geithner pushed for a broad regulatory overhaul yesterday before the House Financial Services Committee. Geithner's proposal, which offered limited details, would mark the most comprehensive changes to financial-market regulation since the New Deal. It could take months for the changes to clear Congress and the reforms face several hurdles, including opposition from lawmakers concerned the administration is seeking too much power and from hedge funds and their investors anxious about the loss of autonomy. However, most hedge fund managers, investors, lawyers and lobbyists have accepted the fact that some reform is inevitable and are aiming to limit overly-invasive provisions rather than fight the proposal outright. (more: expanded SEC oversight) (Read Geithner's prepared remarks)
• Obama meets bank execs. Obama will meet with bank executives today to try and secure their support for his financial stabilization plan, as well as to encourage increased lending and reduced foreclosures. As many as 15 executives will attend the White House meeting, including Citigroup's (C) Pandit, JPMorgan Chase's (JPM) Dimon and Goldman Sachs' (GS) Blankfein. Lawrence Summers said the meeting is a reflection of the fact that "the country’s major financial institutions have a major role to play" in supporting "a robust and sustained economic expansion."
• AIG subpoenaed on CDS. New York Attorney General Andrew Cuomo subpoenaed AIG (AIG) yesterday for information on its credit default swaps contracts. At issue are contracts going back seven months and involving billions of dollars, some of which have subsequently been wound down by AIG's Financial Products unit. Cuomo said "CDS contracts were at the heart of AIG's meltdown. The question is whether the contracts are being wound down properly and efficiently or whether they have become a vehicle for funneling billions in taxpayer dollars to capitalize banks all over the world."
• Obama to help auto firms. Obama said his administration will soon unveil the next part of its plan to help the auto industry, assuming the companies continue to move forward with sweeping restructuring plans. The comments reinforced expectations that the administration would demand tough concessions but not force General Motors (GM) and Chrysler into bankruptcy. The signal of additional federal support helped GM shares close up 14% yesterday and came as GM announced that 12% of its U.S. hourly workers had accepted buyouts. Though GM may miss the March 31 deadline for securing concessions from its main union and bondholders, auto task force officials appear willing to extend the deadline by 30 days.
• Swiss bank execs face travel ban. Several private banks in Switzerland have started to ban their top executives from travelling abroad on fears the executives will be detained as part of a global crackdown on banking secrecy. The travel bans have primarily focused on those visiting the U.S., following the detention there last year of a senior private banker from UBS (UBS) as part of a federal tax investigation. However, some banks have issued a complete travel ban, including to neighboring countries in Europe. None of the banks with travel bans were willing to discuss the issue publicly.
• Newspapers cut back. In response to dramatic declines in advertising revenue, the Washington Post Co. (WPO) and the New York Times Co. (NYT) are both embarking on cost-cutting missions. The Times laid off 100 workers, or around 5% of its workforce, and is cutting non-union salaries at the New York Times and the Boston Globe. Last year its management said no newsroom cuts were expected in 2009, but it now says this year's numbers have been worse than expected. The Washington Post is offering a new round of buyouts to newsroom, production and circulation employees and said it can't rule out firing staff.
• Google shrinks sales/marketing unit. Google (GOOG) announced plans to cut its sales and marketing team by around 200 employees, saying it had over-invested in certain parts of the company. This is the latest in a series of cost-cutting moves, including 100 recruiters that were laid off in January and up to 40 February layoffs when Google closed its radio advertising unit.
• Amazon closes some distribution sites. Amazon (AMZN) will close distribution centers in three states, and either lay off or transfer around 210 employees to other nearby facilities. Though its sales have continued to rise despite the recession, an Amazon spokesman said the closures were part of a continuing evaluation to "make sure we are positioning ourselves for future growth."
• GDP shrinkage smaller than expected. Fourth quarter GDP fell 6.3% from Q3, vs. -6.6% consensus, a preliminary figure of -6.2%, and +0.5% growth in Q3. Weak exports, personal consumption, and residential construction all contributed to the big drop. For the year, GDP rose 1.1% after growing 2% in 2007. Prices fell 3.9% in Q4, vs. -4.1% preliminary. Personal consumption expenditures dropped 4.3% vs. -3.8% in Q3. Exports were down a whopping 23.6% in contrast to a 3% increase in Q3. Imports fell 17.5%.

Earnings: Thursday After Close

• Accenture (ACN): FQ2 EPS of $0.63 beats by $0.01. Revenue of $5.3B (-6.1%) vs. $5.5B. (PR)
• Embraer-Empresa Brasileira de Aeronautica (ERJ): Q4 EPS of $0.72 misses by $0.37. Revenue of $1.8B (-3.0%) vs. $1.9B. (PR)
• Tibco Software (TIBX): Q4 EPS of $0.09 beats by $0.01. Revenue of $133M (-9.3%) vs. $142M. (PR)

Today's Markets

• Asia: Nikkei -0.11% to 8,627. Hang Seng +0.07% to 14,119. Shanghai +0.54% to 2,374. BSE +0.45% to 10,048.
• Europe: London -0.1%. Paris -0.8%. Frankfurt -0.7%.
• Futures: Dow -0.7%. S&P -0.8%. Nasdaq -0.7%. Crude -1.7% to $53.44. Gold -1.3% to $928.

Friday's Economic Calendar

• 8:30 Personal Income and Outlays
  9:55 University of Michigan Consumer Sentiment
• Notable earnings before Friday's open: KBH

Seeking Alpha editor Eli Hoffmann contributed to this post.

The aviation financiers gathered together in Phoenix this week to commiserate -- with each other as well as the commercial aircraft manufacturers. Their message: "You can build 'em, but you can’t get financing for 'em!" Uh oh!

One attendee opined that we who live in the Pacific Northwest are about to see whitetails (vernacular for undeliverable aircraft) at Boeing’s (BA) finishing plant in Seattle (as are the French at the Airbus plant in Toulouse). The ultimate consequence of this shortfall in funding is that Airbus and Boeing -- plus Bombardier and Embraer (ERJ) -- are about to encounter the same thing that has happened to the executive aircraft manufacturers (not to mention the automobile makers, et al): Too many pieces of equipment and too few buyers with money. Darn!

Equity prices as shown in the major market indexes are at multi-year lows and traders are in a state of capitulation. By the end of the day, Monday, the DJIA (-250.89 -3.41% to 7114.78), the S&P 500 (-26.72 -3.47% to 743.33), and NASDAQ Composite (-53.51 -3.71% to 1387.72) closed down at support levels going back to the 1990’s. The Toronto Composite (-302.32 -3.80% to 7647.67) and Venture Board (-13.96 -1.56% to 878.94) were down there as well.

There were no winning sectors as Healthcare (XLV -2.0%), a major loser, was the best of the lot. Basic Materials (XLB -6.1%), pulled down by Chemicals, led to the downside. The Financials (XLF -3.5%) dropped equal to the broad indexes, and much of the loss was in the REITs ($DJR), which fell -7.8%, and not the banks.

Just as the US equity market was in the process of a major breakdown over the issue of possible government takeover of Bank of America (BAC) and Citigroup (C), the White House made some comments that appeared to reject the notion of nationalization, and there was a sudden market turnabout. After Bank of America CEO Ken Lewis stated his bank was profitable and did not need government aid, BAC shares moved higher by about +20% in minutes. By the end of the session, however, the broad market rally ran out of steam.

By the end of the day, the DJIA (-100.28 -1.34% to 7365.67) and the S&P 500 (-8.89 -1.14% to 770.05) were well underwater, but the NASDAQ Composite (-1.59 -0.11% to 1441.23) closed flat.

Covering this year's Zhuhai Air Show, The Economist takes a look at China's first domestically-produced jetliner, the AVIC1 Commercial Aircraft Corporation's ARJ-21, and on the eve of the regional jet's maiden test flight takes a moment to consider its commercial prospects. Their verdict: don't count China out.

Many foreign analysts doubt that Western airlines will ever be prepared to buy Chinese aircraft. But, as in other fields, China is playing a long game.

• Even more firms may gain access to TARP. Sources say the Treasury may use some of its $700B rescue fund to buy stakes in financing companies such as GE's (GE) GE Capital and CIT Group (CIT). Presently the program only includes publicly-traded banks and insurers, although the Treasury is already mulling opening the door to some privately-held firms. The U.S. government could eventually own even more of the American financial system than first envisioned.
• Yahoo, Google tone down ad tie-up. Yahoo (YHOO) and Google (GOOG) submitted a revised version of their search-ad pact to the Justice Department in the hope gaining approval. New provisions limit the scope of the deal, including shortening the agreement to two years from ten, and capping Yahoo's revenue from the deal to 25% of its search revenue total; previously there was no cap. The revised plan also gives Google advertisers the ability to opt out of having their ads displayed on Yahoo sites. It's unclear whether the changes will suffice to appease regulators who worry the deal will allow Google (GOOG) to monopolize online advertising. Separately, Yahoo said Monday Microsoft (MSFT) executive Jeff Dossett will take the lead position in its online media properties after veteran Scott Moore left "for other opportunities."
• UBS posts earnings, warnings. UBS (UBS) confirmed a Q3 profit of 296M Swiss francs ($256.3M) helped by credit and tax gains, with outflows of 49.3B francs from its wealth management unit and 34.4B francs from its asset management unit. The world's largest wealth manager, UBS had already reported much of its Q3 results last month when it announced a capital injection of 6B franc from the Swiss government and said it would unload $60B of risky assets into a central bank fund. UBS noted some positive client money flows in October, but warned 'difficult' market conditions would hurt fee-earning businesses and Q4 results would be weighed down by the accounting effects of transferring risky assets. Shares -2.6% premarket.
• Outlook sours for RBS. Royal Bank of Scotland (RBS) abandoned its full-year profit forecast after it wrote-down £1B in October against assets connected to Lehman Brothers and Icelandic banks and as bad loans rose. It also posted £1.4B of markdowns in Q3 before new accounting rules allowed it to claim back £1.2B. CEO Stephen Hester said the latest writedowns, coming in addition to £5.9B in H1, show the bank has too much risk and could face a full-year loss. RBS is in line for a U.K. bailout, and the government could own up to 60% of the bank unless investors buy some of the £20B of stock to be issued later this year. Shares -14.9% premarket.
• Goldman hedge fund down $1B. A flagship Goldman Sachs (GS) hedge fund - Goldman Sachs Investment Partners - has lost almost $1B of its $6B since its launch in January, further evidence of the crisis facing the industry. "We anticipate that these results will lead to net outflows from the hedge fund industry," managers said, although GSIC itself imposed a two-year lock-in at inception. More than half of its 13% Q3 loss was on positions in commodities, basic materials, metals, mining, energy and agriculture.
• Tough 2009 for JPMorgan. JPMorgan (JPM) CEO Jamie Dimon told employees the firm faces "highly challenging conditions" in 2009, but sees a possible "strong recovery" in 2010. JPM's recent acquisitions of Bear Stearns and WaMu will improve performance in the "longer term," he said. Dimon warned Asia is "going to get worse than you think" as the tidal wave that began with a collapse of the U.S. mortgage market washes over it. Still, longer-term, he sees "very substantial natural growth" in the region.
• iPod master leaves Apple. Tony Fadell, one of the fathers of the iPod, is leaving Apple (AAPL) for personal reasons, sources say. Former IBM (IBM) executive Mark Papermaster will take his place. During Fadell's tenure, the iPod grew from a curiosity into a major cash cow; Apple sold 54.7M iPods during its most recent fiscal year. But growth has cooled off as saturation becomes a factor in many countries. Still, Apple shows no signs of giving up any of its 70% U.S. market share.
• Dismal October for automakers. General Motors (GM) said October was likely the auto industry's worst month since WWII after its sales plunged 45%, Ford's (F) fell 30%, Nissan's (NSANY) declined 33%, Honda's (HMC) dropped 25%, while Toyota's (TM) declined by 23%. GM marketing chief Mark LaNeve said he believes there's plenty of pent-up demand, "but until the credit markets open up and consumer confidence improves, the entire U.S. economy, and any industry like autos that relies on financing, will suffer." U.S. auto sales are now down 14.6% YTD. "It's weaker than we were anticipating," J.D. Power's Bob Schnorbus said, warning leaders should take heed: "The auto industry is important to the economy and it should not be taken too lightly."
• Manufacturing paints bleak picture. The ISM's Manufacturing index fell to 38.9 in October, its lowest level since 1982, and worse than the expected 41.5. The only industries reporting growth were apparel and leather & allied products. Petroleum & coal and nonmetallic mineral products led the laggards. The weaker than expected data increases the risk the current slump will outdo the recessions of 2001 and 1991. Companies are cutting back on investments and hiring as Q3 consumer spending plunged by 3.1% - the biggest decline in 28 years. The survey "indicates a significantly faster rate of decline in manufacturing when comparing October to September," ISM director Norbert Ore said. "It appears that manufacturing is experiencing significant demand destruction as a result of recent events." Prices also rose at a much slower rate: the price index plunged to 37 from 53.5 in September - the lowest level since December 2001. Export orders dropped for the first time in 70 months.
• September Construction Spending fell 0.3% from August's revised numbers, better than the expected 0.8% drop. Residential private construction -1.3%; non-residential +1.2%.

Earnings: Before Open

• Ameren (AEE): Q3 EPS of $1.17 misses by $0.08. Revenue of $2.06B (+3.2%) vs. $2.29B. Sees full-year EPS of $2.80-3.00 vs. $3.01. Shares -5.3%. (PR)
• Archer Daniels Midland (ADM): FQ1 EPS of $1.63 vs. consensus of $0.69. Revenue of $21.16B (+65%) vs. $15.98B. (PR)
• Autodesk (ADSK): Sees Q3 EPS of $0.53-0.55 vs. $0.55 consensus and revenue of $604-607M vs $624M. "The sharp downturn of the global economy is substantially impacting our business... Demand for our products fell dramatically in October in all geographies as the financial crisis worsened. (PR)
• Cimarex Energy (XEC): Q3 EPS of $2.19 misses by $0.07. Revenue of $576.5M (+67.7%) vs. $568M. (PR)
• Dean Foods (DF): Q3 EPS of $0.28 misses by $0.03. Revenue of $3.19B (+2.5%) in-line. (PR)
• Emerson Electric (EMR): FQ4 EPS of $0.88 beats by $0.02. Revenue of $6.7B (+11.1%) in-line. (PR)
• GrafTech (GTI): Q3 EPS of $0.55 beats by $0.10. Revenue of $316M (+25.7%) vs. $303M. Shares +6.7%. (PR)
• HCP Inc. (HCP): Q3 FFO of $0.71/share beats by $0.05. Revenue of $270M vs. $242M. Sees full-year FFO of $2.38-2.42 vs. $2.29. (PR)
• Holly (HOC): Q3 EPS of $1.00 beats by $0.13. Revenue of $1.72B (+42.3%) in-line. (PR)
• Louisiana-Pacific (LPX): Q3 EPS of -$0.38 misses by $0.08. Revenue of $390M (-17.5%) in-line. (PR)
• Magna International (MGA): Q3 EPS of $0.17 vs. consensus of $0.90. Revenue of $5.53B (-9%) in-line. (PR)
• Marvel Entertainment (MVL): Q3 EPS of $0.64 beats by $0.19. Revenue of $182.5M (+47.7%) vs. $146M. Sees full-year EPS of $2.45-2.65 vs. $1.93 and 2009 EPS of $1.00-1.35 vs. $1.94. (PR)
• Myriad Genetics (MYGN): FQ1 EPS of $0.30 beats by $0.16. Revenue of $74M (+52.4%) vs. $70M. (PR)
• NiSource (NI): Q3 EPS of $0.03 in-line. Revenue of $1.42B (+11.8%) vs. $1.36B. (PR)
• PPL Corp. (PPL): Q3 EPS of $0.45 misses by $0.15. Sees full-year EPS of $2.00-2.05 vs. $2.29, and 2009 EPS of $1.60-1.90 vs. $2.17. "Many of the pressures that affected our results in 2008 also are expected to continue into 2009..." (PR)
• Rowan (RDC): Q3 EPS of $1.00 beats by $0.13. Revenue of $527M (+5%) vs. $540M. "Continuing weakness in capital markets and commodity prices will, eventually, affect customer demand for our products and services, though we have experienced little impact thus far." (PR)
• St. Joe (JOE): Q3 EPS of -$0.12 misses by $0.12. Revenue of $32.8M (-57.6%) vs. $47.3M. (PR)
• Talisman Energy (TLM): Q3 EPS of $0.72 beats by $0.08. Revenue of $2.82B (+50.9%) vs. $2.89B. (PR)
• Tenneco (TEN): Q3 EPS of $0.01 misses by $0.22. Revenue of $1.5B (-3.8%) in-line. (PR)
• Tenet Healthcare (THC): Q3 EPS of -$0.06 misses by $0.03. Revenue of $2.14B (+5.2%) vs. $2.21B. Shares +14.1%. (PR)
• W&T Offshore (WTI): Q3 EPS of $0.79 misses by $0.03. Revenue of $290M (+13.6%) vs. $276M. (PR)

Earnings: Monday After Close

• Automatic Data Processing (ADP): FQ1 EPS of $0.54 beats by $0.04. Revenue of $2.18B (+9.5%) in-line. Shares -2.5%. (PR)
• Coldwater Creek (CWTR): Sees Q3 sales of $225M vs. $265M consensus, and EPS of -$0.07 to -$0.09 vs. $0.03 consensus. "The overall macro-economic environment has proven to be substantially more challenging than anticipated." Shares -5.9%. (PR)
• Comstock Resources (CRK): Q3 EPS of $1.20 beats by $0.20. Revenue of $169M (+103.7%) vs. $158M. (PR)
• Embraer (ERJ): Q3 EPS of $0.32 misses by $0.07. Revenue of $1.55B (+8.1%) vs. $1.63B. (PR)
• EOG Resources (EOG): Q3 EPS of $2.34 beats by $0.10. Revenue of $3.22B (+226.5%). Shares +1.9%. (PR)
• Forest Oil (FST): Q3 EPS of $1.26 misses by $0.12. Revenue of $474M (+51.5%) vs. $465M. (PR)
• Herbalife (HLF): Q3 EPS of $0.89 beats by $0.03. Revenue of $M in-line. Sees Q4 EPS of $0.65-0.70 vs. $0.91, and 2009 EPS of $3.50-3.55 vs. $3.71. Shares -13.5%. (PR)
• MasterCard (MA): Q3 EPS of $2.47 beats by $0.22. Revenue of $1.34B (+23.7%) vs. $1.27B. Gross dollar volume rose 12.3%. "As we are not immune from the long-term effects of the current economic environment, we have significantly accelerated the focus on our cost structure..." Shares +8%. (PR)
• Mohawk Industries (MHK): Q3 EPS of $1.10 misses by $0.02. Revenue of $1.76B (-9%) in-line. (PR)
• Open Text (OTEX): Q3 EPS of $0.53 beats by $0.03. Revenue of $183M (+11.4%) vs. $179M. Shares -1.1%. (PR)
• Pepco Holdings (POM): Q3 EPS of $0.59 misses by $0.11. Revenue of $3.06B (+10.4%) vs. $2.73B. (PR)
• Pitney Bowes (PBI): Q3 EPS of $0.67 misses by $0.03. Revenue of $1.55B (+2.6%) vs. $1.6B. Sees full-year EPS of $2.75-2.82 vs. $2.85. (PR)
• St. Mary Land (SM): Q3 EPS of $1.20 beats by $0.08. Revenue of $324M (+31.4%) vs. $329M. Shares +1.2%. (PR)
• Viacom (VIA): Q3 EPS of $0.62 beats by $0.07. Revenue of $3.41B (+4.2%) vs. $3.32B. Shares +1.5%. (PR)

Today's Markets

• Asia closed mixed Tuesday. Tokyo was the standout, +6.27% to 9,115. Shanghai -0.76% to 1,707. Hang Seng +0.28% to 14,384. BSE Sensex +2.84% to 10,631.
• European markets posted strong morning gains. London +1.75%. Paris +2.1%. Frankfurt +2%.
• U.S. futures are markedly higher at 7:00 AM. Dow +1.88% to 9506. S&P +1.96% to 988.50. Nasdaq +2.18%. Crude +1.16% to $64.65. Gold +1.49% to $737.60.

Tuesday's Economic Calendar

• 7:45 ICSC Retail Store Sales
  8:55 Redbook
  10:00 Factory Orders
  5:00 PM ABC Consumer Confidence Index
• Notable earnings before Tuesday's open: ADM, AEE, AMSC, DF, DNR, EMR, ENTG, EXPD, FE, GTI, HCP, HL, HNT, HOC, JEC, JOE, LPX, MAC, MGA, MYGN, NI, NNN, NXG, PPL, PQ, RDC, TDC, TEN, THC, TLM, VNO, WTI, XEC
• Notable earnings after Tuesday's close: AMMD, BRE, CBL, DCT, FCH, HRP, JKHY, ME, NHP, PXD, UPL, USU, VTR

Seeking Alpha editor Rachael Granby contributed to this post.