Financial Breakfast: Morning News Summary for August 1, 2012
Wednesday, August 1, 2012
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
- U.S. Equity Markets trade up as Dow futures trade higher about 43 points.
- U.S. Dollar trades about 0.02% lower.
- European markets are mixed in afternoon trading. Britain's FTSE 100 added 0.77%, Germany's DAX slid 0.21% and France's CAC 40 advanced 0.56% on the session.
- Asian stocks ended the session mixed. China's Shanghai gained 0.94%, Japan's Nikkei 225 slid 0.61%, and the Hong Kong's Hang Seng Market added 0.12%.
- Spanish and Italian manufacturing PMI's beat expectations while French, German, and British PMI's missed expectations, showing that the global slowdown is now affecting the core European nations.
- Wells Fargo Upgrades Arkansas Best (NASDAQ: ABFS) from Underperform to Market Perform
- Jefferies & Company Downgrades Coach (NYSE: COH) from Buy to Hold, Lowers PT from $92 to $55
- 08:15 ET - ADP Nonfarm Employment Change
- 09:00 - Manufacturing PMI
- 10:00 - Construction Spending (MoM)
- 10:00 - ISM Manufacturing Index
- 10:30 - Crude Oil Inventories
- 14:15 - FOMC Statement
- 14:15 - Interest Rate Decision
- Comcast (NASDAQ: CMCSA) Reports Q2 EPS $0.50 vs $0.48 Est; Revenues $15.2B vs $15.20B Est
- Harley-Davidson (NYSE: HOG) Reports Q2 EPS $1.07 vs $1.05 Est; Revenues $1.57B vs $1.63B Est
- Garmin (NASDAQ: GRMN) Reports Q2 EPS $0.98 vs $0.67 Est; Revenues $718.2M vs $686.45M Est
- Avon Products (NYSE: AVP) Reports Q2 EPS $0.20 vs $0.21 Est; Revenues $2.59B vs $2.66B Est
- Time Warner (NYSE: TWX) Reports Q2 EPS $0.59 vs $0.58 Est; Revenues $6.74B vs $6.95B Est
- Precious metals are trading higher, with gold posting early gains of about 0.22%
- Energy futures are trading higher, with crude oil posting early gains of about 0.42%
- Natural Gas futures are trading down about 1.03% and copper is trading down by about 0.29%
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