Morning Market News: Updates on SAN, WLP, TRI, FX, FB, CPB, BA, A, V

Morning Market News: Updates on SAN, WLP, TRI, FX, FB, CPB, BA, A, V
<a href="">3112014</a> / Pixabay

Morning Market News: Updates on SAN, WLP, TRI, FX, FB, CPB, BA, A, VEvery morning we puts out a report with the latest news in global stock markets, company news, and global economic news.

Morning Market Update

Market Levels

David Einhorn At The 2021 Sohn Investment Conference: Buy These Copper Plays

david einhorn, reading, valuewalk, internet, investment research, Greenlight Capital, hedge funds, Greenlight Masters, famous hedge fund owners, big value investors, websites, books, reading financials, investment analysis, shortselling, investment conferences, shorting, short biasThere's a gold rush coming as electric vehicle manufacturers fight for market share, proclaimed David Einhorn at this year's 2021 Sohn Investment Conference. Check out our coverage of the 2021 Sohn Investment Conference here. Q1 2021 hedge fund letters, conferences and more SORRY! This content is exclusively for paying members. SIGN UP HERE If you Read More

* US: Dow Futures: 12691.00 (-0.28%), S&P 500 Futures: 1348.00 (-0.28%), NASDAQ Futures: 2608.50 (-0.02%)

* Europe: CAC: 3163.23 (-0.18%), DAX: 6403.03 (-0.11%), FTSE: 5639.15 (-0.42%)

* Asia-Pacific: Australia: 4118.30 (-0.95%), China: 2170.81 (-2.43%), Hong Kong: 19428.09 (-1.92%), India: 5275.15 (-0.79%), Japan: 8896.88 (-1.39%).

* Metals: Gold: 1585.45 (0.41%), Silver: 27.25 (1.23%), Copper: 3.43 (0.50%)

* Energy: Crude Oil: 84.92 (0.46%), Natural Gas: 2.82 (1.48%)

* Commodities: Corn: 7.31 (-1.98%), Soya Bean: 15.54 (-1.15%), Wheat: 8.47 (-2.96%)

* Currency: EUR/USD: 1.2293 (0.02%), GBP/USD: 1.5509 (0.12%), USD/JPY: 79.5800 (-0.10%)

* 10 year US Treasury: 1.527% (-0.024)

 Financial and Economic News Update

U.S. stock-index futures decline: U.S. stock index futures are pointing to a lower on Monday, ahead of Alcoa Inc. (NYSE:AA)’s earnings report after the closing bell. The Dow futures, the S&P futures and the NASDAQ future are all trading marginally in the red.

 European markets in the red: European markets are trading lower, with the German DAX (INDEXDB:DAX) trading down 0.1 percent at 6403.03, the FTSE 100 (INDEXFTSE:UKX) 0.4 percent lower at 5639.15, and the CAC 40 (INDEXEURO:PX1) declined 0.2 percent to 3163.23. The euro zone blue-chip ESTX 50 PR.EUR (INDEXSTOXX:SX5E) (Euro Stoxx 50) was down 0.06 percent.

Asian markets end lower: Asian markets closed lower on Monday with Japan’s NIKKEI 225 (INDEXNIKKEI:NI225) down 1.4 percent to 8,896.88. The HANG SENG INDEX (INDEXHANGSENG:HSI) closed down 1.88 percent at 19,428.09, while the SSE Composite Index (SHA:000001) (Shanghai Composite Index)closed at

2,170.8 points. The S&P/ASX 200 (INDEXASX:XJO) index lost 39.5 points to finish at 4,118.3. The benchmark Indian 30-share BSE SENSITIVE (INDEXBOM:SENSEX) index closed down 0.85 percent at 17,371.58 points.

 Stocks in Focus


* Managed care provider Amerigroup Corporation (NYSE:AGP) has agreed to be acquired by health insurer, WellPoint, Inc. (NYSE:WLP), for $4.9 billion in cash.

* News and information agency, Thomson Reuters Corporation (USA) (NYSE:TRI) (TSE:TRI), has agreed to buy FX Alliance Inc (NYSE:FX), a provider of foreign-exchange trading platforms, for $22 a share, or $625 million, in cash.

* The New York Post reported that the Federal Trade Commission could approve Facebook Inc (NASDAQ:FB)’s $1 billion purchase of Instagram by mid-August.

* Campbell Soup Company (NYSE:CPB) will buy natural-foods company, Bolthouse Farms, from a fund managed by Madison Dearborn Partners, for $1.55 billion in cash.

* The Boeing Company (NYSE:BA) has won a $7.2 billion order for sixty 737 MAX 8 and fifteen 737 MAX 9 airplanes, from US group Air Lease Corp (NYSE:AL), at the Farnborough air show near London.

* French media giant Vivendi SA (EPA:VIV) is planning to sell its 60 percent stake in video game maker, Activision Blizzard, Inc. (NASDAQ:ATVI), and Reuters reported that Time Warner Inc. (NYSE:TWX) and Microsoft Corporation (NASDAQ:MSFT) could be among possible bidders

* Satellite radio provider Sirius XM Radio Inc (NASDAQ:SIRI) has raised its full-year subscriber and revenue growth guidance, and said that it now expects 1.6 million net new subscribers, and revenue of $3.4 billion.

* Ampio Pharmaceuticals, Inc. (NASDAQ:AMPE) soared 7.5 percent after reporting results from Phase 2 trial of the drug Optima to treat diabetes-related vision disorders.

* UBS has downgraded credit-card companies, Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA), to “sell” from “neutral.” Both the stocks are deep in the red in pre-market trading.

* Jefferies & Co. has initiated coverage of Wells Fargo & Company (NYSE:WFC) with a “buy” rating and a price target of $39, citing an above-average growth potential.

* Nanosphere, Inc. (NASDAQ:NSPH) jumped 6.6 percent after analysts at Roth Capital upgraded the stock to “buy” from “neutral.”


* A U.K. court has ruled that Samsung Electronics Co.’s Galaxy tablet doesn’t infringe the design of Apple Inc. (NASDAQ:AAPL)’s iPad.

* Spanish lenders Banco Santander, S.A. (NYSE:SAN) and Banco Bilbao Vizcaya Argentaria SA (ADR) (NYSE:BBVA) slumped more than 3 percent as yield on Spain’s benchmark 10-year bond pushed above the 7 percent level.

* Olaf Koch, the Chief Executive Officer of German retailer, Metro AG (ETR:MEO) (FRA:MEO), said the company would not escape the impact of the European debt crisis, which has dampened German consumers’ willingness to spend.

* British miner Xstrata PLC (LON:XTA) slid 2.4 percent in London trading after the Sunday Times reported the company will delay a vote on the proposed merger with Swiss commodity giants, Glencore International Plc (LON:GLEN), until September.

* Specialist recruitment consultancy, Michael Page International plc (LON:MPI), reported a 6.6 percent decline in second-quarter gross profit to 138 million pounds ($214 million), but said full year operating profit should be in line with estimates.

* French spirits maker Remy Cointreau (EPA:RCO) is in exclusive negotiations to buy privately-owned Scottish whisky maker Bruichladdich Distillery, Reuters reported.

* German broadcaster, ProSiebenSat.1 Media AG (ETR:PSM) (FRA:PSM), controlled by KKR & Co. (KKR) and Permira Advisers LLP, slid 3.7 percent in Frankfurt trading after it was lowered to “neutral” from “buy” at Citigroup Inc.


* Oil services giant Schlumberger Limited. (NYSE:SLB) has agreed to acquire a 20.1 percent stake in Chinese oilfield services company, Anton Oilfield Services (Group) Ltd. (HKG:3337).

* Japan’s biggest brokerage, Nomura Holdings, Inc. (ADR) (NYSE:NMR) (TYO:8604)was excluded as a lead underwriter from the state-owned Japan Housing Finance Agency’s 30-year bond issues, planned to take place by the end of September, amid a regulatory crackdown on an insider trading scandal.

* China Yurun Food Group Limited (HKG:1068), the country’s second-largest meat-product supplier, plunged more than 9 percent in trade today after it said founder Zhu Yicai has resigned as chairman.

* Thai energy company PTT Exploration and Production has extended the deadline for its $1.9 billion offer for East Africa-focused gas explorer, Cove Energy PLC (LON:COV), to July 13. PTT Exploration is locked in a battle with Royal Dutch Shell plc (ADR) (NYSE:RDS.A) (LON:RDSA) to takeover the company.

* Australian property developer Lend Lease Group (ASX:LLC) has secured 2 billion Australian dollars ($2.03 billion) in funding for the first two commercial towers at the Barangaroo South Project on Sydney Harbor, of which the Canada Pension Plan Investment Board will invest 1.04 billion Australian dollars ($1.06 billion).

* Japanese mining and construction equipment maker, Komatsu Ltd (TYO:6301), ended 4 percent lower in Tokyo trading after Nomura Securities downgraded the stock to “neutral” from “buy,” and slashed its target price.

* Perth-based Iluka Resources Limited (ASX:ILU), the world’s biggest zircon producer, cut its sales forecasts for the second-half of 2012, in the face of deteriorating global economic conditions.

* JPMorgan Chase has begun coverage of Chinese online video company, Youku Inc (NYSE:YOKU), with an “overweight” rating.

Economic Calendar for Monday, July 09, 2012:

01:00 A.M. ET: Chicago Federal Reserve Bank President Charles Evans speaks.

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

11:55 A.M. ET: San Francisco Federal Reserve Bank Pres. John Williams speaks.

03:00 P.M. ET: Consumer Credit Change (May)

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