Morning News: Boeing, AT&T, Norfolk Southern, Corning, Juniper

Morning News: Boeing, AT&T, Norfolk Southern, Corning, Juniper
market news

Stocks that are expected to trade actively in U.S. markets on Wednesday include: The Boeing Company (NYSE:BA), AT&T Inc. (NYSE:T), Norfolk Southern Corp. (NYSE:NSC), Corning Incorporated (NYSE:GLW) and Juniper Networks, Inc. (NYSE:JNPR).market news Morning News

Market Level

U.S.DJIA 15467.66 (0.49%), S&P 500 1,754.67 (0.57%), NASDAQ 3,929.57 (0.24%).

Europe: FTSE 6,666.10 (-0.44%), DAX 8,907.70 (-0.44%), CAC 40 4,267.51 (-0.65%).

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Asia Pacific: NIKKEI 14426.05 (-1.95%), SHANGHAI 2,183.11 (-1.25%), HSI 22999.95(-1.36%), ASX 200 5,356.10 (-0.32%), KOSPI 2035.75 (-0.99%).

Commodities: Oil 97.24 (-1.08%), NAT GAS 3.611 (0.84%), Gold 1,331.50 (-0.83%), Silver 22.575 (-0.94%), Wheat 705.50 (0.68%), Corn 441.50 (0.74%).

Currency: EUR/USD 1.3761 (-0.14%), GBP/USD 1.6152 (-0.51%), USD/JPY 97.30 (-0.85%).

10 year Treasury bond: 2.489 (-0.026).

Market & Economic Update

U.S. market may open lower: In pre-market trading, major U.S. benchmarks index traded lower. Dow Jones industrial average index futures was down 0.5%, Standard & Poor’s 500 index futures fell 0.4% while Nasdaq index futures lost 0.5%. Mainly, reports regarding the slow U.S. hiring and tight liquidity in China pulled the markets back a bit.

European market down: Shares on the European exchange were down in the early trade on Wednesday following the poor run by banks after the asset quality review and weak earnings from top firms like Heineken. At 0759 GMT, the pan-European FTSEurofirst 300 was down 0.7% to 1,279.28, with all sectors performing badly.

Asian markets also down: Nikkei was down to its lowest in three weeks, on Wednesday, following dollar’s tumble against the yen owing to rising expectations that Fed will continue with its stimulus until early next year. Nikkei fell 2% to 14,426.05, falling from its 3-1/2 week high of 14,799.28. Shares in the Hong Kong market also fell owing to weak Chinese market after increased expectations that the central bank may soon tighten liquidity. The Hang Seng Index was down 1.4% at 23,000 points, which is its lowest since Oct. 10. The China Enterprises Index, which represents Chinese listing in Hong Kong, fell 1.8%, recording its biggest daily loss since Aug. 28.

Stocks in News

The Boeing Company (NYSE:BA)

A survey by FactSet has revealed that Boeing is expected to report its third quarter earnings of $1.55 per share.  Expecting the launch of 777X (its next generation twinjet) the analysts at Stifel Nicolaus on Tuesday reiterated a Buy rating on Boeing with a $140 price target. “We think 777X is coming and believe it will be a big winner for Boeing, albeit that some of the wins will likely come at the expense of 747-8,” Stephen Levenson, an analyst at Stifel, said in a note.

AT&T Inc. (NYSE:T)

AT&T is expected to post 65 cents a share for the third quarter. Over the weekend, AT&T declared a deal to lease and sell a portfolio of cell towers for $4.85 billion to Crown Castle International Corp.

Norfolk Southern Corp. (NYSE:NSC)

Norfolk southern Corp is expected to release its third quarter earnings of $1.39 per share. Last week, RBC capital Markets lowered the rating of the stock to Sector Perform from Outperform. An analyst at RBC said, “Near-term freight rate trends and continued coal concerns have prompted us to take a more conservative view on our base assumptions out to 2015.”

Corning Incorporated (NYSE:GLW)

After the end of the trading session yesterday, Corning said it has sealed a deal for buying shares which it doesn’t already own in Samsung Corning Precision Materials Co., a joint venture with Samsung Display in which 43% is owned by the Korean firm. Corning’s board allowed a stock buyback of $2 billion. The company pre-announced its third quarter earnings of 28 cents per share, a decrease from 36 cent a share a year earlier. Shares of the company were up more than 20% in after hours of trading.

Juniper Networks, Inc. (NYSE:JNPR)

On late Tuesday, Juniper Network Inc released its third quarter profit, which increased to $99.1 million or 19 cents a share, from $16.8 million, or 3 cents a share, a year before. Revenue showed an increment to $1.19 billion from $1.12 billion. Excluding the other items, the networking gear company earned 33 cents a share. Juniper has predicted its fourth quarter adjusted earnings of 35 cents a share to 37 cents a share. Juniper shares were down 2% in after hours of trading.

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