** MORNING WRAP **
October 27th, 2006** US MARKETS **
Dow 0,24%; Nasdaq 0,96%; S&P 0,5%; Soxx 1,16%; Russel2k 1,16%; DJAIG -0,19%;
10yr Bond -0,03%; 10yr Yield 4,72%; Crude future 60,56; Gold 595,8
| ConsDisc 1,35%| Telecom 1,19%| Financials 0,82%| Materials 0,49%| ConsStaples
0,47%| Technology 0,37%| Healthcare 0,28%| Industrials -0,01%| Energy -0,03%|
Utilities -0,34%
- McAfee Inc.rose $1.79, or 6.7 percent, to $28.61 in extended trading. The
world’s second-biggest maker of security software said third-quarter profit was
36 cents a share, excluding some items. That topped the average 30-cent estimate
from analysts surveyed by Thomson.
- Microsoft Corp.added 2 cents to $28.37. The world’s largest software maker
said profit for the quarter that started Oct. 1 will be 22 cents to 24 cents a
share on sales of $11.8 billion to $12.4 billion. Analysts surveyed by Thomson
Financial anticipated 34 cents and $12.9 billion, on average.
- With earnings still in focus as the biggest week of the quarter fades into the
record books on a strong note, notable reports will come from Baker Hughes
(BHI), Cardinal Health (CAH), Chevron (CVX), Exelon (EXC), Fortune Brands
(FO), Ingersoll-Rand (IR), and Timberland (TBL).
- On the economic front, an advance read on Q3 GDP and accompanying chain
deflator will be out at 14:30 CET while a revision on University of Michigan
Sentiment will hit the wires just after the market opens at around 15:45 CET.
** ASIAN MARKETS **
Nikkei -0,77%; Kospi -0,71%; HSI 0,46%; Taiwan 0,1%; China 0,52%; India 0,99%;
Thailand 0,07%; Australia -0,53%
- ICBC’s Shares Climb on Debut After World Record $19.1 Billion Share Sale
- GM Shifts Savings From Cost Cuts to Toyota-Fighting Vehicles, People Say
- Australia’s Worst Drought in a Century May Crimp Growth, Spur Inflation
- Asian Stocks Fall, Led by Japan’s Banks, Mitsubishi UFJ on Consumer Prices
- Japan’s Key Inflation Rate Unexpectedly Slows; Rate Increase Less Likely
- Japan Seeks Oil in Iraq and Indonesia After Losing Control of Iran Field
- Citigroup, Credit Suisse Group Vie for Prime Brokerage Expansion in Asia
- DBS Third-Quarter Profit Rises 32 Percent as Economic Growth Spurs Loans
- Bharti Airtel’s Profit Surges 79 Percent After Mobile Subscribers Double
- China Government Bans Domestic Banks From Offshore Yuan Derivative Trading
** EUROPE; IN PLAY TODAY **
- Continental AG: Chief Executive Officer Manfred Wennemer sees the risks of the
world’s fourth-largest tiremaker being taken over by private equity or a
competitor as “very slim.”
- Fiat SpA: Chief Executive Officer Sergio Marchionne said in a conference call
after markets closed that he never gave a sales target of 3 million car units
for 2010. The company’s long-term survival depends on alliances, he said.
- Novo Nordisk A/S: The world’s largest insulin maker may report third-quarter
net income fell 3.6 percent to 1.7 billion kroner ($290 million) on sales of 9.9
billion kroner, according to a poll by SME Direkt.
- Red Electrica de Espana SA: The operator of Spain’s electricity network is
scheduled to report nine-month financial results before the start of trading.
Dresdner Kleinwort analyst Cesar Gonzalez expects net income to rise 22 percent
to 155 million euros.
- RWE AG: Germany’s third-largest utility said it sold the real estate
operations of its Harpen AG unit to private equity funds Whitehall Funds and
Cerberus European Investments LLC.
- Sandvik AB: The world’s biggest maker of metal-cutting tools may say
third-quarter profit climbed 14 percent to 1.66 billion kronor on 17.2 billion
kronor in sales, according to an analyst survey by SME Direkt.
- Volkswagen AG: Europe’s largest carmaker plans to release third-quarter
results. The company may post a loss because of the costs of eliminating jobs in
Germany and lengthening the workweek, according to analysts surveyed by
Bloomberg News.