Stocks that are expected to trade actively in U.S. markets on Wednesday include: Hewlett-Packard Company (NYSE:HPQ), Infoblox (NYSE: BLOX), Analog Devices, Inc., (NASDAQ:ADI), Golar LNG (NASDAQ: GLNG) and TiVo (NASDAQ: TIVO).
U.S.: DJIA 16,073.70 (0.01%), S&P 500 1802.75(0.01%), NASDAQ 4017.75 (0.58%)
Europe: FTSE 6651.55(0.23%), DAX 9310.05(0.22%), CAC 40 4284.56 (0.16%).
"I am a better investor because I am a businessman, and a better businessman because I am no investor" - Warren Buffett In the past, the value investor Mohnish Pabrai has spoken about why investors need to have some first-hand business experience. Pabrai started his own IT consulting and systems integration company, TransTech, Inc, in Read More
Asia Pacific: NIKKEI 15449.63(-0.42%), SHANGHAI 2201.07 (0.82%), HSI 23806.35(0.53%), ASX 5324.85 (-0.48), KOSPI 2028.81(0.31%).
Commodities: Oil 93.28 (-0.43%), NAT GAS 3.86 (-0.13%), Gold 1251.00 (0.77%), Silver 20.01 (0.84%), Wheat 650.75 (0.66%), Corn 420.75(0.54%).
Currency: EUR/USD 1.3602 (0.24%), GBP/USD 1.6282 (0.43%), USD/JPY 101.76 (0.49%).
10 year Treasury bond: 2.725 (-0.012).
Market & Economic Update
U.S. market may open flat: Dow Jones industrial average index futures, Standard & Poor’s 500 index futures and NASDAQ index futures all climbed by around 0.1% as trading thinned out ahead of the Thanksgiving holiday. In the prior session, the NASDAQ surged 0.6% to 4,017.75, a market milestone. The Dow increased less than a point to 16,072.80 and the S&P 500 index was up less than a point to 1,802.75.
European markets up: Stocks on European indices surged higher fueled by the coalition deal in Germany, and strong earnings from the Belgian discount grocer Colruyt. The German DAX climbed 0.2% to 9,311.29 points by 0828 GMT, closing in on a record high of 9,323.44 points hit earlier this week. The pan-European FTSEurofirst 300 gained 0.2% to 1,297.31 points.
Asian markets mixed: The Nikkei ended 0.4% lower at 15,449.63, down for a second straight day and retreating further from a six-month peak touched on Monday. The Hang Seng Index climbed 0.5% to close at 23,806.4 points, its highest closing level since Jan. 30, helped by gains made by non-banking financial and cement firms. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.9%.
Stocks to watch
Hewlett-Packard Company (NYSE:HPQ)
Hewlett Packard posted fourth quarter results where earnings per share and revenue outpaced the Wall Street estimates. Revenue for the fourth quarter came in at $29.1 billion, a decline of 3%. Its Enterprise Group revenue increased 2% from the corresponding quarter of last fiscal and operating margin was 14.5%.
Infoblox (NYSE: BLOX)
Infoblox posted first quarter adjusted earnings of 12 cents per share. Revenue for the company came in at $63.5 million, above analysts’ expectation of 9 cents per share while revenue was in line with analysts’ expectations. Infoblox has projected revenue in the range of $270 million to $276 million while adjusted earnings per share are expected in the range of 44 cents to 54 cents for full fiscal ending July 31st 2014.
Analog Devices, Inc. (NASDAQ:ADI)
Analog devices posted lower revenue for the fourth quarter. Shares declined 3.45% to $48.20 in the after-hours trading session. Revenue, for the three months ended in October, dropped 2% year over year, to $678 million, and EPS came in at 62 cents. Analysts were expecting revenue of $689 million and EPS of 58 cents.
Golar LNG (NASDAQ: GLNG)
Golar LNG is expected to post third quarter earnings of $0.08 per share on revenue of $16.87 million. Shares of Golar declined 1.81% to close at $36.34. Golar LNG Partners currently has a consensus rating of Hold and a consensus price target of $37.85.
TiVo (NASDAQ: TIVO)
TiVo posted better than expected results for the third quarter of 2013. Shares of TiVo gained 0.15% to close at $13.24. Net income came down to $12.5 million, or 10 cents a share, from $59 million, or 44 cents, a year ago. Analysts were expecting a profit of 6 cents.