Every morning we put out a report with the latest news in global stock markets, company news, and global economic news. Stocks in focus today include;  AONE, NOV, NOK, KSS, RBN, TOL, CBK, CSCO, WEN





Morning Market Update

Market Levels


  • US:  Dow Futures: 13130.00 (0.08%), S&P 500 Futures: 1397.00 (-0.09%), NASDAQ Futures: 2711.50 (0.18%)
  • Europe: CAC: 3435.39 (-0.08%), DAX: 6914.65 (-0.74%), FTSE: 5842.52 (-0.06%)
  • Asia-Pacific: Australia: 4308.30 (-0.10%), China: 2174.10 (0.60%), Hong Kong: 20269.47 (1.01%), India: 5322.95 (-0.28%), Japan: 8978.60 (1.09%).
  • Metals: Gold: 1616.00 (-0.00%), Silver: 27.99 (-0.30%), Copper: 3.41 (-0.20%)
  • Energy: Crude Oil: 93.80 (0.48%), Natural Gas: 2.90 (-1.26%)
  • Commodities: Corn: 8.23 (0.89%), Soya Bean: 15.94 (0.85%), Wheat: 9.20 (0.77%)
  • Currency: EUR/USD: 1.2307 (-0.47%), GBP/USD: 1.5627 (-0.19%), USD/JPY: 78.6000 (0.22%)
  • 10 year US Treasury: 1.584% (0.015)


Financial and Economic News Update

U.S. stock-index futures little changed: U.S. stock index futures were little changed on Thursday after a report showed jobless claims fell unexpectedly last week. The number of Americans filing for jobless benefits fell 6,000 to a seasonally adjusted 361,000, the Labor Department said today. Economists were expecting claims to rise to 370,000 last week. Separately, the U.S. trade deficit decreased 10.7 percent in June to a seasonally adjusted $42.92 billion, its lowest level since 2010, according to the Commerce Department. The Dow Jones industrial average, S&P 500 and NASDAQ futures were all trading largely unchanged.

European markets trading lower: European markets are trading lower on Thursday with the German DAX (INDEXDB:DAX) down 0.7 percent at 6914.65, the FTSE 100 (INDEXFTSE:UKX) was largely unchanged at 5842.52, and the CAC 40 (INDEXEURO:PX1) declined 0.1 percent to 3435.39. The euro zone blue-chip ESTX 50 PR.EUR (INDEXSTOXX:SX5E) (Euro Stoxx 50) fell 0.4 percent.

Asian markets end mixed: Asian markets closed mixed on Thursday with Japan’s NIKKEI 225 (INDEXNIKKEI:NI225) closing 1.1 percent higher at 8,978.60. The HANG SENG INDEX (INDEXHANGSENG:HSI) closed up 1 percent at 20,269.5, while the SSE Composite Index (SHA:000001) ended up 0.6 percent at 2,174.1. The S&P/ASX 200 (INDEXASX:XJO) index fell 4 points to 4,308.3. The benchmark Indian 30-share BSE SENSITIVE (INDEXBOM:SENSEX) index ended down 0.1 percent.

Stocks in Focus



  • JPMorgan Chase & Co. (NYSE:JPM) has revised its first-quarter financial results, and said first-quarter net income was $4.92 billion, or $459 million less than the $5.38 billion originally reported.
  • Telecommunications company Windstream Corporation (NASDAQ:WIN) reported second quarter earnings excluding items of 12 cents a share, on revenue of $1.54 billion. Analysts were expecting earnings excluding items of 13 cents a share on $1.54 billion in revenue.
  • Kohl’s Corporation (NYSE:KSS) reported second-quarter profit of $240 million, or $1 per share that beat analyst forecasts by 4 cents, while store sales fell 2.7 percent during the quarter. The retailer forecast lowered its full year earnings estimate, and said current quarter same-store sales are likely to be flat to up 2 percent.
  • Hamburger chain The Wendy’s Company (NASDAQ:WEN) reported second quarter earnings excluding one-time items of 5 cents a share, in line with the average analysts’ estimate. Revenue increased 3.8 percent to $645.9 million, trailing Street estimates of $647 million. Same-store sales rose 3.2 percent during the quarter, margins rose to 14.1 percent from 13.9 percent.
  • Automotive parts retailer Advance Auto Parts, Inc. (NYSE:AAP) said second-quarter net income fell to $99.61 million or $1.34 per share, from $113.11 million or $1.46 per share in the year-ago period. Sales for the quarter declined 1.3 percent to $1.46 billion, from $1.48 a year ago.
  • Department store operator Dillard’s, Inc. (NYSE:DDS) reported a 76 percent jump in second quarter profit to $31 million, or 63 cents a share, from a year-earlier profit of $17.6 million, or 32 cents a share. Net sales increased 3.2 percent to $1.49 billion, while same store sales rose 3 percent during the quarter.
  • Keith Cowan, president of strategic planning and initiatives, at wireless carrier, Sprint Nextel Corporation (NYSE:S), will leave the company at the end of September.
  • U.S. oilfield equipment maker National-Oilwell Varco, Inc. (NYSE:NOV) has agreed to buy Robbins & Myers, Inc. (NYSE:RBN) for $2.54 billion in cash. Robbins & Myers’ shareholders will get $60 a share under the agreement, a 28 percent premium to yesterday’s closing price.
  • The board of engine maker Briggs & Stratton Corporation (NYSE:BGG) has approved a 9 percent increase in the company’s quarterly dividend to 12 cents a share.
  • Biopharmaceutical services provider Parexel International Corporation (NASDAQ:PRXL) reported fourth quarter adjusted earnings and revenue that topped estimates. The board also approved a new $200 million share buyback program
  • Cisco Systems, Inc. (NASDAQ:CSCO) was trading 3.7 percent higher in New York pre-market trading after analysts at Piper Jaffray upgraded the stock to “overweight” from “neutral,” citing improved earnings visibility amid better margins and cost controls. Goldman Sachs has also added Cisco to its “Conviction Buy List.”
  • Homebuilder Toll Brothers Inc (NYSE:TOL) was downgraded to “underweight” from “overweight” by analysts at JPMorgan Chase, citing higher valuation. The stock was down 1.6 percent in pre-market trading.



  • Standard Chartered PLC (LON:STAN) (HKG:2888) (NYSE:STAC) extended gains from the prior day, and is trading 3.4 percent higher in London after denying allegations by New York’s Department of Financial Services ofcolluding with the Iranian government to hide transactions worth at least $250 billion.
  • Germany’s second-largest bank Commerzbank AG (ETR:CBK) (FRA:CBK) said net profit in the second half will be lower than in the first six months, as challenging market conditions leads to higher loan-loss provisions.  The bank, which is partly owned by the German state, said second-quarter group net profit declined to 275 million euros ($340 million), trailing analysts’ forecasts of 388 million.
  • Struggling smart phone maker Nokia Corporation (NYSE:NOK) (HEL:NOK1V) (AMS:NOKA) will sell its Qt software business to Finnish IT services company Digia Oyj, as part of a strategy to offload non-core assets.
  • British pay TV operator British Sky Broadcasting Group plc (LON:BSY) has won a long-standing battle against regulators’ attempts to force the satellite broadcaster to lower the price it charges from rivals to show its flagship Sky Sports channels.
  • Danish healthcare company Novo Nordisk A/S (ADR) (NYSE:NVO) (CPH:NOVO-B) gained 3 percent after reporting a better than expected 29 percent jump in second quarter net profit, and raising its full-year earnings and sales guidance.
  • Deutsche Telekom AG (ETR:DTE) (FRA:DTE), Germany’s largest phone company, said its U.S. unit, T-Mobile USA lost 557,000 contract customers in the second quarter, that was more than the 346,200 forecast by analysts.
  • West-Africa-focused gold producer Randgold Resources Ltd. (ADR) (NASDAQ:GOLD) (LON:RRS) rose 2 percent in London trading after reporting a better than expected rise in second-quarter earnings.
  • British oil-field services firm AMEC plc (LON:AMEC) posted a 25 percent rise in first half core earnings, while revenue for the period increased 37 percent. The London-listed company increased its interim dividend to 11.7 pence a share from 10.2 pence a share.



  • Telstra Corporation Limited (ASX:TLS), Australia’s biggest telecommunications company reported a wider than expected 5 percent fall in second-half profit as declines in its traditional fixed-line business outweighed strong mobile customer gains.
  • Japanese camera maker Nikon Corporation (TYO:7731) closed 8.1 percent lower in Tokyo after unexpectedly cutting its full-year earnings forecast below market expectations citing the European recession and a stronger yen.
  • U.S. battery maker A123 Systems, Inc. (NASDAQ:AONE) said that Wanxiang Group Corp., China’s largest automotive component maker, will invest up to $450 million in the company.
  • Poly Real Estate Group Co., Ltd (SHA:600048), China’s second-biggest property developer, ended 1.4 percent higher, after sales volume surged 66 percent in
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