Archive for October, 2006
*DAIMLERCHRYSLER 3Q OP PROFIT EU892M; ANALYSTS EST. EU574M
Wednesday, October 25th, 2006*GM 3Q PROFIT EX-ITEMS 93C-SHR; THOMSON EST. 49C
Wednesday, October 25th, 2006** MORNING WRAP **
Wednesday, October 25th, 2006** US MARKETS **
Dow 0,09%; Nasdaq -0,46%; S&P 0,03%; Soxx -1,13%; Russel2k -0,14%; DJAIG 0,45%;
10yr Bond 0%; 10yr Yield 4,82%; Crude future 59,51; Gold 583,15
| Energy 1,48%| Materials 1,24%| ConsDisc 0,42%| Industrials 0,1%| Telecom
-0,02%| Financials -0,06%| Utilities -0,11%| ConsStaples -0,28%| Healthcare
-0,3%| Technology -0,78%
- Amazon.com Inc. rose $4.75, or 14 percent, to $37.67 in trading after the
official close of U.S. exchanges yesterday. The world’s biggest online retailer
said fourth- quarter sales would be as much as $3.95 billion. A Thomson
Financial survey of analysts had an average estimate of $3.68 billion.
- Corning Inc. (GLW US) fell 79 cents, or 3.4 percent, to $22.35 in extended
trading. The biggest maker of glass for liquid-crystal displays forecast
fourth-quarter sales of $1.28 billion to $1.33 billion. Analysts predict revenue
of $1.36 billion, the averages in a survey by Thomson.
- Without question, the focal point Wednesday will be the culmination of a
two-day FOMC meeting that is widely regarded to end with the overnight lending
rate staying unchanged at 5.25% (20:15 CET). What is not a foregone conclusion,
however, is what the accompanying Fed policy directive will imply about further
rate hikes.
- Notwithstanding the market’s focus on the Fed, investors will again have a
plethora of earnings reports to sift through. Before the bell, Dow components
Altria (MO), Boeing (BA), and General Motors (GM) will head a list that also
includes the likes of Colgate-Palmolive (CL), Harrah’s (HET), Jones Apparel
(JNY), Monster Worldwide (MNST), Norfolk Southern (NSC), Waste Management (WMI)
and WellPoint (WLP).
** ASIAN MARKETS **
Nikkei -0,46%; Kospi 0,06%; HSI -0,01%; Taiwan -0,53%; China -0,23%; India
-0,89%; Thailand 0,33%; Australia 0,55%
- Asian Stocks Fall From Five-Month High; Aiful Declines, PetroChina Gains
- Japan’s Trade Surplus Unexpectedly Widens 6.9 Percent on Surge in Exports
- Flight Centre Founders Plan Buyout, Valuing Travel Agency at $1.2 Billion
- China Should Let Yuan Rise More Rapidly, Former Central Bank Adviser Says
- South Korea’s Economic Growth Accelerates to 0.9 Percent on Investments
- Australia’s Inflation Rate Exceeds Estimates, May Prompt Rate Increase
- Thai Baht Climbs to Six-Year High on Stock Buying From Overseas Investors
- Singapore’s Central Bank Says Pace of Economic Growth to `Ease’ Next Year
- Asian Equities Are Starting to Look Expensive, Citigroup’s Patterson Says
- Abe Pushes Debt Reduction, Discourages Nuclear Option as Koizumi Successor
** EUROPE: IN PLAY TODAY **
- Adidas AG: The world’s second-largest sporting- goods maker said it agreed to
sell its Greg Norman Collection, a line of apparel named for the two-time
British Open golf champion, to MacGregor Golf Co.
- Banco Bilbao Vizcaya Argentaria SA: BBVA, Spain’s second biggest bank, may say
third-quarter net income rose to 1.09 billion euros from 914 million euros a
year earlier, according to the median estimate of analysts in a Bloomberg News
survey. The bank plans to report earnings at about 8:30 a.m. local time.
- Banco Comercial Portugues SA: Portugal’s second- biggest bank reported net
income of 557 million euros for the first nine months of the year, a 1.9 percent
increase from the same period in 2005.
- Cap Gemini SA: Europe’s biggest computer services company said BT Group Plc
will handle its European network- services business and hire 250 of Cap Gemini’s
employees. Separately, Morgan Stanley said it’s selling 4.9 million Cap
Gemini shares for 44 euros apiece.
- Casino Guichard-Perrachon SA: The biggest supermarket owner in Paris said
third-quarter sales increased 7.9 percent to 6.32 billion euros, helped by
increased spending in France and rising revenue in Thailand and Latin America.
- Cie. de Saint-Gobain SA: Europe’s biggest supplier of building materials
repeated its forecast for 2006 profit to rise 25 percent to 26 percent.
Third-quarter revenue climbed 17 percent to 10.37 billion euros, lifted by the
purchase of BPB Plc.
- DaimlerChrysler AG: The world’s fifth-largest carmaker plans to release
third-quarter earnings. The company may say profit fell as Toyota Motor Corp.’s
fuel-efficient models won U.S. customers, according to analysts surveyed by
Bloomberg.
- Elcoteq SE: The contract manufacturer for mobile- phone makers such as Nokia
Oyj may say third-quarter earnings dropped 33 percent to 9.2 million euros
($11.6 million), an SME Direkt survey showed.
- Electrolux AB: The world’s second-largest maker of household appliances may
say third-quarter profit almost tripled to 412 million kronor, a survey of
analysts by SME Direkt showed.
- Enagas SA: The operator of Spain’s natural-gas pipelines may say third-quarter
profit rose to 165 million euros, according to analysts at Ibersecurities SA in
Madrid.
- Endesa SA: Spain’s largest power company may say third-quarter profit climbed
11 percent to 666 million euros ($835 million) from 600 million euros a year
ago, according to the median estimate of analysts surveyed by Bloomberg. The
Madrid-based utility plans to release earnings by 9 a.m. local time.
- Neuf Cegetel SA: Shares in France’s second-largest fixed-line telephone
company makes its trading debut after Neuf Cegetel raised 818 million euros
through an initial public offering. The company sold 37 million shares for 22.08
euros a piece.
- Schneider Electric SA: Sales growth at the world’s biggest maker of circuit
breakers may be close to the company’s strategic target of at least 5 percent
next year, compared with 10 percent forecast for 2006, Scheider Electric’s chief
executive officer said. Third-quarter sales rose 15 percent to 3.48 billion.
- Societe Generale SA: France’s third-largest bank, said it raised 2.37 billion
euros through the sale of new shares to existing shareholders to help maintain
financial ratios and “pursue its strategy of profitable growth.”
- Vivendi SA: Europe’s largest maker of video games delayed the planned
expansion of its “World of Warcraft,” the world’s most popular online video
game, until January from a previous target of late 2006 to allow for more
testing. As such, the upgrade won’t be available to Christmas holiday shoppers.