Stocks that are expected to trade actively in U.S. markets on Friday include: Tesla Motors Inc (NASDAQ:TSLA), American International Group Inc (NYSE:AIG), First Solar, Inc. (NASDAQ:FSLR), CBOE Holdings, Inc (NASDAQ:CBOE) and The Washington Post Company (NYSE:WPO).
U.S.: DJIA 15545.75 (-0.47%), S&P 500 1,756.54 (-0.38%), NASDAQ 3,919.71 (-0.28%).
Europe: FTSE 6,722.87 (-0.13%), DAX 9,020.60 (-0.15%), CAC 40 4,287.29 (-0.29%).
Modern Day Asset Management
ValueWalk's Raul Panganiban interviews Ross Klein, CFA, and Vince Lorusso. Ross is founder and CIO at Changebridge Capital and Vince is Partner and Portfolio Manager at Changebridge Capital where they manage the CBLS, Changebridge Capital Long/ Short Equity ETF and CBSE, Changebridge Sustainable Equity ETF. The following transcript is computer generated and may contain some Read More
Asia Pacific: NIKKEI 14201.57 (-0.88%), SHANGHAI 2,149.56 (0.37%), HSI 23249.79(0.19%), ASX 200 5,411.12 (-0.26%), KOSPI 2039.42 (0.46%).
Commodities: Oil 96.44 (0.06%), NAT GAS 3.567 (-0.39%), Gold 1,318.30 (-0.41%), Silver 22.765 (-0.47%), Wheat 667.25 (-0.04%), Corn 428.75 (0.12%).
Currency: EUR/USD 1.3526 (-0.41%), GBP/USD 1.5996 (-0.27%), USD/JPY 98.28 (-0.07%).
10 year Treasury bond: 2.573 (0.014).
Market & Economic Update
U.S. market may open higher: On Friday, in the pre-market trading, both the Nasdaq composite futures and Dow Jones industrial average futures were up 0.2% while Standard & Poor’s 500 index futures gained 0.1%. Yesterday, the Dow Jones industrial average was down 0.5% while Standard & Poor’s 500 index and the Nasdaq composite lost 0.4% and 0.3% respectively
European market decline: European shares were down on Friday owing to weak third quarter earnings of major companies. In early trading, the FTS Eurofirst 300 index lost 0.1%, down to 1,291.30 points while eurozone’s blue-chip Euro STOXX 50 index was down 0.2% to 3,062.18 points.
Asian markets down: The Nikkei on Friday dropped to a one-week low due to lower earnings guidance provided by Sony Corp, Apple Inc supplier Nitto Denko Corp and NTT Data Corp. The Nikkei dropped 0.9% to 14,201.57 points. Shares on the Hong Kong exchange, on Friday, ended marginally up by 0.2% for the day and 2.4% for the week at 23,249.8 points as the banking sector of China cherished the fall in money rates moreover strong manufacturing activity reported in the economy also lifted the sentiments.
Stocks in News
Tesla Motors Inc (NASDAQ:TSLA)
Tesla’s Model S was the best selling model in eight out of the twenty-five wealthiest locations in California, according to Edmunds.com. On Tuesday, the company reported that it has completed installing its high-speed Supercharger stations up the length of the West Coast.
American International Group Inc (NYSE:AIG)
American International Group reported an increase in its third quarter profit to $2.2 billion from $1.9 billion for the same period last year. Earnings on a per-share basis jumped to $1.46 from $1.13 in the third quarter 2012. Stock fell by more than 2% in after-hours trading.
First Solar, Inc. (NASDAQ:FSLR)
Yesterday, First Solar Inc posted its third quarter results, where adjusted profit came in at $2.28 a share beating the estimates of $1.05. In after hours of trading, the company’s shares were up more than 8%.
CBOE Holdings, Inc (NASDAQ:CBOE)
For the third quarter, CBOE Holdings Inc is projected to report earnings of 45 cents a share. A report from Macquarie recently put an Outperform rating on the stock. Sameer Murukutla, an analyst at Macquarie, said that despite the impressive performance of the stock, which is trading near all-time highs, “we believe CBOE’s revenue generation potential is still not priced in, with the growth potential of its VIX Futures product, continued strength of its proprietary index options business and a promising pipeline of products.”
The Washington Post Company (NYSE:WPO)
The third quarter results of Washington Post Co will be released prior to the opening of the market. This will be the first time the Company shows its quarterly earnings since it was purchased by Jeff Bezos, founder of Amazon.com.