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US EQUITIES OPENING HEADLINES INCLUDING: Alcoa's Aluminum Alloy Drill Pipe selected by Fugro for ofshore drilling project
January 16 2013, 2:51pm
US equities are set to open in negative territory despite strong earnings for JP Morgan and Goldman Sachs as concerns for Boeing and Apple weigh on the indices. Focus is on earnings season with several more large companies reporting today including E-Bay and Kinder Morgan after market. Looking ahead in the session US Industrial and Manufacturing Production is due at 1415GMT, DoE Inventories are due at 1530GMT and several Fed speakers are scheduled throughout the session.
US CPI Ex-Food and Energy (Dec) M/M 0.1% vs. Exp 0.2% (Prev. 0.1%)
CPI Ex-Food and Energy (Dec) Y/Y 1.9% vs. Exp 1.9% (Prev. 1.9%)
US CPI (Dec) M/M 0.0% vs. Exp. 0.0% (Prev. -0.3%)
US CPI (Dec) Y/Y 1.7% vs. Exp. 1.8% (Prev. 1.8%)
US CPI Core Index SA (Dec) M/M 231.475 vs. Exp. 231.416 (Prev. 231.254)
US Consumer Price Index NSA (Dec) M/M 229.601 vs. Exp. 229.726 (Prev. 230.221)
US MBA Mortgage Applications (Jan 11) W/W 15.2% vs. Prev. 11.7%
FTSE (-0.46%), CAC (-0.19%), DAX (-0.31%), SMI (+0.23%), IBEX (-0.56%), EURO STOXX (-0.46%) prices taken at 1343GMT
DJI
Corporate Earnings
JP Morgan - Q4 EPS USD 1.39 (Ex-some items USD 1.46, Ex-all USD 1.35) vs. Exp. USD 1.22, Q4 revenue USD 24.40bln vs. Exp. USD 24.33bln, Q4 inclu. USD 0.09 loss on DVA, USD 0.11 per share benefit, USD 0.16 benefit from tax adjustments and USD 0.14 on mortgage matters. (Newswires)
Other News
Boeing – Another of Co.’s 787’s has been forced to make an emergency landing in western Japan. (Newswires)
Chevron - Co. buys a new offshore China acreage, agrees with CNOOC to cover two blocks, will hold 100% stake in the two blocks. (Newswires)
Alcoa - Co.'s Aluminum Alloy Drill Pipe selected by Fugro for ofshore drilling project. (Newswires)
S&P 500
Corporate Earnings
Goldman Sachs - Q4 EPS USD 5.60 vs. Exp. USD 3.66, Q4 net revenue USD 9.24bln vs. Exp. 7.83bln. Q4 investment management revenue USD 1.52bln.Q4 net revenue in investment banking USD 1.41bln vs. Prev. USD 857mln. (Newswires)
US Bancorp - Q4 Adj. EPS USD 0.75 vs. Exp. USD 0.75, Q4 Revenue USD 5.11bln vs Exp. USD 5.15bln. (Newswires)
Comerica - Q4 EPS USD 0.68 vs. Exp. USD 0.65, Q4 2012 net of USD 130mln. (Newswires)
Bank of New York Mellon - Q4 EPS USD 0.53 (may not compare) vs. Exp USD 0.54, Q4 revenue USD 3.61bln vs. Exp. USD 3.6bln, Q4 GAAP total revenue USD 3.62bln vs. 3.54bln year ago. (Newswires)
Charles Schwab - Q4 EPS USD 0.15 vs. Exp. USD 0.15, Q4 revenue USD 1.22bln vs. Exp. USD 1.21bln. (Newswires)
Northern Trust - Q4 EPS USD 0.69 vs. Exp. USD 0.74, Q4 revenue USD 969.7mln vs. Exp. USD 985.8mln, Q4 includes charges USD 0.2 per share.(Newswires)
Other News
Nike – Co. is under scrutiny again after allegations that its Indonesian suppliers have pressured workers into renouncing their right to a recently approved minimum wage. (The Independent)
St. Jude Medical – Co.’s new version of Merlin monitoring system approved by FDA. (Newswires)
Companies going ex-dividend: Procter & Gamble (USD 0.562), Perkinelmer (USD 0.070), Whole Foods Market (USD 0.200)
Companies paying dividend: Republic Services (USD 0.235)
Nasdaq 100
Corporate Earnings
N/A
Other News
Research in Motion – Co. receives approval from Visa for mobile payment solution. (Newswires)
Broker Moves
Upgrades
Celgene – Co. price target raised to USD 107 from USD 92 at RW Baird.
Sealed Air – Co. upgraded to buy from neutral at Citigroup.
Marathon Oil – Co. price target raised to USD 40 from USD 35 at Oppenheimer.
Downgrades
Apple – Co. downgraded to sector perform from outperform at Pacific Crest; price target lowered to USD 630 from USD 720 at Bank of America/Merrill.
Dell – Co. downgraded to hold from buy at Argus.
Wells Fargo - Co. downgraded to neutral from overweight at Atlantic Equities.
Boeing – Co. removed from conviction buy list at Goldman Sachs.
Yelp – Co. downgraded to underperform from market perform at Northland. Securities
Host Hotels – Co. downgraded to neutral from buy at ISI Group.
Starwood Hotels – Co. downgraded to neutral from buy at ISI Group.
Sunoco Logistics – Co. downgraded to neutral from outperform at RW Baird.
Mead Johnson – Co. downgraded to neutral from outperform at Credit Suisse.
Prudential – Co. downgraded to neutral from outperform at Macquarie.
Other News
General Motors – Co. sees FY13 International operations margins down, says expects modest share increase in Europe in 2013. (Newswires)
World Pay – Co have announced a partnership with Discover to enable PayPal in-store checkout. (Newswires)
Alibaba Group – Co. are said to hire Credit Suisse and Goldman for IPO. (Newswires)
USD Index up 0.16% at 1345GMT (0745CST)
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