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US equities look to open slightly lower following disappointing Chinese economic data, some focus on dovish comments overnight from Fed's Evans and Fed's Rosengren repaired some of the damage in US stock futures, the start of US corporate earnings season is likely to catch more of today's attention.
FTSE (-0.30%), CAC (+0.04%), DAX (+0.10%), SMI (-0.06%), IBEX (-0.17%), EURO STOXX (+0.10%) prices taken at 1343BST
DJI
Corporate Earnings
N/A
Other News
United Technologies ? Co. unit Sikorsky has signed a five year USD 7.3bln deal with US Army, Navy and Air Force. (Newswires)
Microsoft ? Co.?s ability to mass produce its new Surface tablet PCs is being affected by the low yield rate of its magnesium-aluminium chassis. (DigiTimes)
McDonald's - Top Olympics officials questioned whether it was appropriate to allow the co. to continue sponsoring the games amid mounting concern about the global obesity crisis, the International Olympic Committee president has admitted. (FT-More)?
Boeing - Co.'is set to overtake Airbus sales'. Co. boss Jim McNerney has claimed that the aircraft builder will outsell fierce rival Airbus for "a number of years" having been No 2 to the pan-European giant for nearly a decade. In other news, both Airbus and Boeing are pushing their large suppliers to buy smaller ones due to fears that weaknesses in the supply chain could undermine the company's plans to increase production of passenger jets. (Independent/Newswires) In related news Boeing's commercial chief Conner said there is no timeline on the 777 upgrade decision and sees 737NG aircraft phased out later this decade. (WSJ) Finally the co. announced it has received a firm order for 75 737 Maxs with a list value of USD 7.2bln. (Newswires)
Johnson & Johnson - Co.'s Janssen unit said the US FDA has granted a priority review for Xarelto. (Newswires)
Companies paying dividend: Merck (USD 0.4200)
S&P 500
Corporate Earnings
N/A
Other News
Eli Lilly/Bristol-Myers ? Co. announced that ERBITUX in combination with the chemotherapy regimen FOLFIRI has been granted full approval by the US FDA for the first-line treatment of patients with KRAS mutation-negative epidermal growth factor receptor expressing metastatic colo-rectal cancer as determined by FDA-approved tests for this use. (Newswires)
Wellpoint ? Co. announced they are to acquire Amerigroup for USD 92 per share or USD 4.9bln in cash, deal is expected to close in Q1 2013 subject to state regulatory approvals. (Newswires)
Anadarko Petroleum ? Co. shares may be poised to rise as its share price is yet to reflect the value of its recently-discovered oil reserves. (Barron?s)
Las Vegas Sands/MGM Resorts - A vote in a small island group, opens the door for Taiwan's first casino which may allow companies like Las Vegas Sands and MGM Resorts to pursue expansion there. (theflyonthewall.com)
Chesapeake ? Co. has filed an agreement with Carl Icahn confirming the appointment or election of Vincent Intrieri to the Board of Directors of Chesapeake Energy. (theflyonthewall.com)
Campbell Soup ? Co. announced they are to acquire Bolthouse Farms for USD 1.55bln, they see the deal adding to 2013 adjusted EPS USD 0.05-0.07 and the co. are to fund the purchase with short- and long-term borrowing. (Newswires)
Celgene ? Co. is one of two companies discussing whether to bid for Human Genome Sciences, which seeks an alternative to a hostile bid by according to sources. (Newswires)
NiSource ? Co. and Hilcorp report a major Utica shale joint-venture for approximately USD 300mln. (Newswires)
Textron ? Co. selected to build US Navy ship-to-shore connector, USD 213mln pact has a possible full value of USD 570mln. (Newswires)
Companies going ex-dividend: Lennar (USD 0.0400), Marsh & Mclennan (USD 0.2300), Patterson (USD 0.1400)?
Companies paying dividend: Coventry Health (USD 0.1250), Legg Mason (USD 0.1100)
Nasdaq 100
Corporate Earnings
N/A
Other News
- According to Japanese language website MacOtakara, a source says the production of the rumored 7-inch iPad will take place at Foxconn's Brazli plant in September. ( Insider) In other news a UK ruling has said Samsung?s Galaxy tablet does not infringe patents. (Newswires)
Amazon - High-speed trading tools are increasingly driving price movements on the Co.'s products as sellers use them to undercut and outwit each other. The 'robo-pricing' has become a source of tension as the Co. competes with its clients. (FT-More) In other news the co. will ship out its next Kindle Fire in Q3 with an improved display, the co. has been approaching developers to bring them up to speed with the new hardware. (All Things Digital)
? Co. decision to delay the launch of its new Blackberry 10 operating system, along with upbeat remarks by the company's CEO and a large quarterly loss reported by the company last month, could leave the smartphone maker open to lawsuits by shareholders. (NY Times)
? Co. will likely get its US regulatory approval for its USD 1bln Instgram purchase by mid-August. (NY Post)
/ ? is planning to launch its own job board later this summer which will aggregate the job postings of third-party providers, and could pose a threat to other professional networking sites such as . (Newswires)
Yahoo! - Co.'s Alibaba unit are said to have boosted 6-month revenue to more than USD 1.8bln. (Newswires)
Yahoo!/ ? Co.'s confirmed that they have entered into definitive agreements that launch a new advertising partnership, extend and expand distribution arrangements, and settle all pending patent claims between the companies. (WSJ)
Broker Moves
Upgrades
Weyerhaeuser ? Co. upgraded to Buy from Neutral at , firm raised its price target for shares to USD 28 from USD 22.50
Coach ? Co. upgraded to Overweight from Neutral at Atlantic Equities, Price target raised to USD 71 from USD 68
Westlake Chemical ? Co. upgraded to Outperform from Neutral at Macquarie, Price target is USD 64
Downgrades
Archer Daniels ? Co. downgraded to Market Perform from Outperform at BMO Capital, Price target lowered to USD 32 from USD 36
Dollar Tree ? Co. downgraded to Underweight from Equal Weight at , Price target is USD 45
Visa ? Co. downgraded to Sell from Neutral at UBS, Price target lowered to USD 113 from USD 127
MasterCard ? Co. downgraded to Sell from Neutral at UBS, Price target lowered to USD 403 from USD 457
PetSmart ? Co. downgraded to Hold from Buy at Needham
State Street ? Co. downgraded to Neutral from Buy at Goldman, Price target remains USD 47
Tyson Foods ? Co. downgraded to Market Perform from Outperform at BMO Capital, Price target lowered to USD 20 from USD 32
Other News
US Defence Companies - The looming USD 500bln US defence budget cut is already paralysing company investment and hiring decisions and would have a devastating effect if it came into force at the start of next year, defence industry executives warned on Sunday. (FT-More)?
US Manufacturers - Co.'s are set to report their slowest growth in earnings since 2009, hit by the European crisis and slowdown in emerging economies, according to the latest analyst reports at S&P Capital IQ. (FT-More)?
SiriusXM - Co. reaffirmed their forecast for year adjusted EBITA and free cash flow; sees year revenue approaching USD 3.4bln, saw USD 3.3bln, vs. Exp. USD 3.37bln. (Newswires)
Arena Pharmaceuticals ? Co.?s newly approved obesity treatment has made the company a potential M&A candidate and could draw takeover interest from according to WBB Securities. (theflyonthewall.com)
Youku ? Co. has entered into a multiple-year agreement with NBCUniversal International Television Distribution for the video-on-demand rights in China to a broad collection of current, library and upcoming NBCUniversal feature films. (Newswires)
US Banks ? The Treasury department said it plans to sell-off stakes it holds in a dozen banks that received rescue funds at the height of the financial crisis and continue to wind down the TARP bailout launched in 2008. (Newswires)
Baltic Dry Index rises 0.4% to 1,162 points
USD Index down 0.20% at 1345BST (0745CDT)
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