Morning Market News: Updates on MSFT, VZ, MS, FB, WLP, EBAY, GRPN

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Morning Market News: Updates on MSFT, VZ, MS, FB, WLP, EBAY, GRPN
AnandKZ / Pixabay

Morning Market News: Updates on MSFT, VZ, MS, FB, WLP, EBAY, GRPN

Market Levels

 

Investing in the Next Generation of Emerging and Frontier Markets with Maurits Pot

Yarra Square Investing Greenhaven Road CapitalValueWalk's Raul Panganiban with Maurits Pot, Founder and CEO of Dawn Global. Before this he was Partner at Kingsway Capital, a frontier market specialist with over 2 billion AUM. In the interview, we discuss his approach to investing and why investors should look into frontier and emerging markets. Q2 2021 hedge fund letters, conferences and Read More


 

  • US:  Dow Futures: 12676.00 (-0.27%), S&P 500 Futures: 1329.50 (-0.60%), NASDAQ Futures: 2556.00 (-0.31%)
  • Europe: CAC: 3070.14 (-0.57%), DAX: 6242.90 (0.22%), FTSE: 5481.67 (0.05%).
  • Asia-Pacific: Australia: 4136.90 (1.96%), China: 2316.05 (0.40%), Hong Kong: 19427.81 (1.00%), India: 5064.25 (-1.46%), Japan: 8721.02 (1.74%).
  • Metals: Gold: 1618.80 (-0.57%), Silver: 28.26 (-1.69%), Copper: 3.37 (-0.43%)
  • Energy: Crude Oil: 82.74 (-1.54%), Natural Gas: 2.68 (-0.88%)
  • Commodities: Corn: 5.13 (-1.69%), Soya Bean: 13.24 (0.65%), Wheat: 6.58 (-1.69%)
  • Currency: EUR/USD: 1.2603 (-0.28%), GBP/USD: 1.5653 (-0.39%), USD/JPY: 79.0500 (0.41%)
  • 10 year US Treasury: 1.565% (-0.012)   

 

Financial and Economic News Update

 

 

U.S. stock-index futures fall: U.S. stock index futures are pointing to a lower open on Monday, as concerns about the rising borrowing costs in Spain, outweigh the optimism following the victory of the pro-bailout parties in the Greek election. The Dow Jones industrial average was down 0.3 percent, the S&P 500 was down 0.6 percent and the NASDAQ futures were up close to 0.3 percent.

 

European markets wobble: European markets are mixed in trade today, with the German DAX (INDEXDB:DAX) trading 0.2 percent higher at 6242.90, the FTSE 100 (INDEXFTSE:UKX) up 0.1 percent at 5481.67, and the CAC 40 (INDEXEURO:PX1) slid 0.6 percent to 3070.14. The euro zone blue-chip ESTX 50 PR.EUR (INDEXSTOXX:SX5E) (Euro Stoxx 50) was trading 1.2 percent lower.

 

 

Asian markets end higher: Asian markets closed higher on Monday, with Japan’s NIKKEI 225 (INDEXNIKKEI:NI225) up 1.8 percent to 8,721.02. The HANG SENG INDEX (INDEXHANGSENG:HSI) ended up 1 percent at 19,427.8, while the SSE Composite Index (SHA:000001) (Shanghai Composite Index) gained 0.4 percent to end at 2,316.1 points. The S&P/ASX 200 (INDEXASX:XJO) index soared 2 percent to 4,136.9. The benchmark Indian 30-share BSE SENSITIVE (INDEXBOM:SENSEX) index was the worst performer in the region, and fell 1.4 percent to 16,712.69 points.

 

Stocks in Focus

 

U.S.

 

  • Microsoft Corporation (NASDAQ:MSFT) is expected to announce the launch of a new tablet computer that will run on the new version of its Windows operating system.
  • An article in the Wall Street Journal this morning says that certain decisions made by Morgan Stanley (NYSE:MS) may have contributed to some of the problems experienced during Facebook Inc (NASDAQ:FB)’s botched initial public offering.
  • Verizon Communications Inc. (NYSE:VZ) will cut the price of its highest-speed Internet service by half. It will cut the price of the 150 megabits per second (mbps) service from $209.99 to $99.99 per month, and will introduce a new 300 mbps service for which it will charge $209.99 a month.
  • Dreamworks Animation Skg Inc (NASDAQ:DWA)’s “Madagascar 3: Europe’s Most Wanted” has hung on to the number one spot at the movie box office for the second consecutive weekend.
  • Pet supplies retailer Petsmart, Inc. (NASDAQ:PETM) raised its quarterly dividend by 18 percent to sixteen and a half cents a share from fourteen cents a share, and authorized a new $525 million share buyback program.
  • Yamana Gold Inc. (USA) (NYSE:AUY), Canada’s third-largest producer of the metal by market value, has agreed to acquire Extorre Gold Mines Ltd (NYSEAMEX:XG) for about 414 million Canadian dollars ($404.1 million) in a cash-and-stock deal.
  • The U.S. Food and Drug Administration has requested Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) to provide more data on its application involving its diabetes drug metreleptin.
  • Health insurer WellPoint, Inc. (NYSE:WLP) has agreed to pay $90 million to resolve a lawsuit relating to the conversion of its Anthem unit from a mutual company to a stock-based company. Following this settlement, the company reduced its full year earnings forecast by eight cents a share.
  • Keefe, Bruyette & Woods has initiated coverage on eBay Inc (NASDAQ:EBAY) with an “outperform” rating. The stock is trading flat in New York pre-market trading.
  • Daily deal provider Groupon Inc (NASDAQ:GRPN) has been upgraded to “overweight” from “equal weight” at Morgan Stanley (NYSE:MS). The stock is up 4.6 percent.
  • The board of American River Bankshares (NASDAQ:AMRB) has authorized the repurchase of up to 6 percent of the outstanding common stock during 2012, up from the previous amount of 5 percent of the outstanding shares announced on January 26.

Europe

 

  • German stock market operator Deutsche Boerse AG (ETR:DB1) has requested a European Union court to overturn a ban on its proposed merger with NYSE Euronext (NYSE:NYX), arguing that the regulators made crucial errors when reviewing the deal. The European Commission blocked the $9.5 billion deal on competition grounds.
  • Spain’s two largest banks, Banco Bilbao Vizcaya Argentaria SA (ADR) (NYSE:BBVA) and Banco Santander, S.A. (ADR) (NYSE:SAN) were down in trade today amid a surge in the country’s borrowing costs.
  • British power-systems company Rolls-Royce Holdings PLC (LON:RR) has signed a contract worth more than 1 billion pounds ($1.6 billion) with the U.K. Ministry of Defense to deliver reactor cores for the country’s next generation of nuclear-powered submarine fleet.
  • UK telecommunications operator Cable & Wireless Worldwide PLC (LON:CW) has secured approval for the £1.04 billion pound ($1.63 billion) takeover by mobile giant Vodafone Group Plc (ADR) (NASDAQ:VOD), after its’s largest shareholder, Orbis Investment Management Ltd., dropped its opposition, and backed the deal.
  • Hong Kong investor Henry Cheng Kar-Shun’s Knight Dragon investment company agreed to buy a 60 percent stake in UK property developer Quintain Estates and Development plc (LON:QED)’s Greenwich Peninsula venture for around £150 million.
  • Swiss wealth manager Julius Baer was raised to “neutral”, the equivalent of “hold”, from “underweight” at HSBC Holdings plc (ADR) (NYSE:HBC)

 

Asia-Pacific

 

  • Fairfax Media Limited (ASX:FXJ), Australia’s second-largest newspaper publisher, and owner of the Sydney Morning Herald and The Age, said it will slash 1,900 jobs over the next three years, as part of a major overhaul to cut costs and halt a slide in revenue.
  • Exchange operator Hong Kong Exchanges & Clearing Limited (HKG:0388) slumped 4.5 percent in trade today, as analysts voiced concerns about its decision to pay $2.2 billion for the London Metal Exchange (LME). Hong Kong Exchanges and Clearing has however defended its purchase price.
  • Australian rare earths miner Lynas Corporation Limited (ASX:LYC) received a shot in the arm after the Malaysian government dismissed an appeal by local residents against its controversial rare earth processing plant in the country.
  • Japanese electronics maker Sharp Corporation (TYO:6753) was upgraded to “hold” from “sell” at Deutsche Bank AG (FRA:DBK). The stock rallied 5.6 percent in Tokyo trading.
  • Australian food and beverage company Lion, owned by Japan’s Kirin Holdings Company, Limited. (TYO:2503) has agreed to buy out Perth-based boutique brewer Little World Beverages Limited (ASX:LWB) for $256 Australian million ($257 million).
  • Nordic diary group Arla Foods has acquired a 6 percent stake in China Mengniu Dairy Company Limited (HKG:2319), the country’s largest milk producer by sales volume, from private-equity firm Hopu Investment Management Co.

 Economic Calendar for Monday, June 18, 2012:

 

10:00 A.M. ET:    NAHB Housing Market Index (June)

11:00 A.M. ET:    4-Week Bill Announcement

11:30 A.M. ET:    3-Month Bill Auction

11:30 A.M. ET:    6-Month Bill Auction

 

 

 

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