Financial Breakfast: Morning News Summary for July 31, 2012

Benzinga's Top News

• Pfizer PFE Reported Q2 EPS $0.62 vs $0.54 Est; Revenues $15.5B vs $14.90B Est
• Tyco International TYC Reported Q3 EPS $1.01 vs $0.93 Est; Revenues $4.46B vs $4.54B Est
• Coach COH Reported Q4 EPS $0.86 vs $0.85 Est; Revenues $1.16B vs $1.20B Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade up as Dow futures trade higher about 32 points.
• U.S. Dollar trades about 0.07% lower.

 

Overseas Trading

• European markets are mixed in afternoon trading. Britain's FTSE 100 slid 0.36%, Germany's DAX gained 0.56% and France's CAC 40 advanced 0.14% on the session.
• Asian stocks ended the session mixed. China's Shanghai fell 0.30%, Japan's Nikkei 225 added 0.69%, and the Hong Kong's Hang Seng Market gained 1.08%.

 

Upgrades/Downgrades

• Bernstein Upgrades Facebook FB from Underperform to Market Perform

 

• Lazard Capital Downgrades Chicago Bridge and Iron CBI from Buy to Neutral

 

On the Economic Calendar

• 08:30 ET - Personal Income (MoM)
• 08:30 - Personal Spending (MoM)
• 08:30 - Core PCE Price Index (MoM)
• 08:55 - Redbook (MoM)
• 09:00 - S&P/CS Home Price Indices - 20 (YoY)
• 09:45 - Chicago PMI
• 10:00 - CB Consumer Confidence
• 11:30 - 4-Week Bill Auction

 

Earnings

• Pfizer PFE Reported Q2 EPS $0.62 vs $0.54 Est; Revenues $15.5B vs $14.90B Est
• Tyco International TYC Reported Q3 EPS $1.01 vs $0.93 Est; Revenues $4.46B vs $4.54B Est
• Archer-Daniels-Midland ADM Reported Q4 EPS $0.38 May Not Compare vs $0.62 Est; Revenues $22.6B vs $21.75B Est
• Penske Automotive Group PAG Reported Q2 EPS $0.55 vs $0.54 Est; Revenues $3.37B vs $3.27B Est
• Coach COH Reported Q4 EPS $0.86 vs $0.85 Est; Revenues $1.16B vs $1.20B Est

 

Corporate News

• ICF International ICFI Awarded Multiple-Award Contract for U.S. Department of Health and Human Services $1.5 Billion IDIQ
• FDA Accepts NuPathe's PATH Migraine Patch NDA Resubmission for Filing

 

Commodities

• Precious metals are trading higher, with gold posting early gains of about 0.15%
• Energy futures are trading higher, with crude oil posting early gains of about 0.07%
• Natural Gas futures are trading down about 0.75% and copper is trading up by about 0.83%

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