Futures Bounce On Renewed Stimulus Hopes
Lennar
Top News
European Markets
Commodities
Currencies
EUR/USD
Earnings Reported Yesterday
BY Matthew Kanterman
Lennar
Top News
- Chinese fears continued to grip markets overnight as the Shanghai Composite did not post any sort of a bounce after dropping 5 percent Monday. Fears that the Chinese banking system is in a state of panic have grown while economists continue to slash growth forecasts for China as export growth continues to lag in the face of a weak global economy.
- International Business Editor for the Telegraph in the U.K. Ambrose Evans-Pritchard, noted economics and markets writer, wrote overnight that Italy may need a new bailout within six months.
- S&P 500 futures rose 8.9 points to 1,575.10.
- The EUR/USD was higher at 1.3122.
- Spanish 10-year government bond yields fell 2 basis points to 5.1 percent.
- Italian 10-year government bond yields fell 3 basis points to 4.81 percent.
- Gold rose 0.67 percent to $1,285.70 per ounce.
European Markets
Commodities
Currencies
EUR/USD
Earnings Reported Yesterday
- Mittel Networks (MITL) reported fourth quarter EPS of $0.25 vs. $0.24 expected on revenue of $150.9 million vs. $145.7 million expected.
- Sonic (SONC) reported third quarter EPS of $0.26 vs. $0.26 expected on revenue of $146.63 million vs. $147.5 million expected.
- Sonic (SONC) shares declined 3.88 percent as revenue missed estimates despite EPS being reported in-line.
- J.P. Morgan Chase (JPM) shares rallied 2.34 percent pre-market as the stock's dividend yield briefly crossed 3 percent. Investors piled into the stock on this in a hunt for yield.
- PulteGroup (PHM) shares rose 1.86 percent pre-market ahead of Lennar's earnings and much housing-related economic data.
- Carnival Corp. (CCL) shares fell 0.96 percent pre-market ahead of the company's earnings release.
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Earnings- Apollo Group (APOL) is expected to report third quarter EPS of $0.85 vs. $1.20 a year ago.
- Barnes and Noble (BKS) is expected to report a fourth quarter loss of $0.99 per share vs. a loss of $0.98 per share a year ago.
- Carnival Corporation (CCL) is expected to report second quarter EPS of $0.06 vs. $0.20 a year ago.
- Lennar (LEN) is expected to report second quarter EPS of $0.33 vs. $2.06 a year ago.
- Smith and Wesson (SWHC) is expected to report fourth quarter EPS of $0.44 vs. $0.17 a year ago.
- Walgreens (WAG) is expected to report third quarter EPS of $0.91 vs. $0.72 a year ago.
BY Matthew Kanterman