Morning Review - 080510

8/9/2019 Morning Review - 080510

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Nicholas Colas (Chief Market Strategist): 212 448 6095 or [email protected] Clark: 212 448 6085 or [email protected]

Beth Reed: 212 448 6096 or [email protected]

Jan 2010 - Now

Jan 2010 - Now

Jan 2010 - Now


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Jan 2010 - Now

Jan 2010 - Now


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U.S. EQUITIES

BKS surged 19.2% after announcing that its founder and largest shareholder may consider participating in an investor group to acquire the bookstorechain. PCLN (+22.0%) forecast 3rd quarter earnings excluding some items of $4.78 a share, topping the average analyst estimate of $4.18. Competitor andbiggest online travel agency EXPE rose 6.4% in response to the news. According to MGMs (-1.7%) CEO, the casino operator plans to build multipleproperties in Macau as it expands in Asia. In earnings news, WFMI (-8.4%) and AOL (-29.5%) declined after missing estimates, while CBS (+4.2%), RL(+7.8%), and TWX (+0.3%) advanced on better-than-expected earnings.

Important Conferences/Corporate Meetings Today:BMO Capital Markets Focus on Healthcare Conference New York, NY

Important Earnings Today (with Estimates) From

Source: Thomson ONE

Three Day (High 1126.00; Low 1104.75):Prior Day SPX (High 1128.75; Low 1119.46; Close 1127.24):

S&P Futures

One Day (High 1126.00; Low 1112.25): LNT: $0.43 BZH: $-0.28 NILE: $0.23 AGO: $0.73 CVC: $0.39 CPKI: $0.17 CAH: $0.49 CF: $3.16 CI: $1.01

CNK: $0.24 ED: $0.51 CTB: $0.41 CROX: $0.23 DTV: $0.59 EIX: $0.68 ETH: $0.15 FIG: $0.08 FTO: $0.46

NGLS: $0.43 TWC: $0.93 VR: $0.97 VIA/B: $0.65 WPI: $0.81 WMG: $-0.36 WTW: $0.72 WRI: $0.41Source: Bloomberg

HAR: $0.32 HEW: $0.74 HOC: $0.96 H: $0.08 INCY: $-0.04 KFT: $0.52 LYV: $-0.06 LIZ: $-0.47 PCS: $0.13

MCHP: $0.49 MHK: $0.72 NFG: $0.51 OCR: $0.62 PLA: $-0.15 RMD: $0.66 SAPE: $0.07 BID: $1.07 SEP: $0.44


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FIXED INCOME

Source: Bloomberg

Todays Important Economic Indicators/Events: Chain Store Sales Monster Employment IndexJobless Claims: Treasury Secretary Tim Geithner press briefing on the Social Security and Medicare Trust Fund 12:00pm Treasury STRIPS

Source: Bloomberg

Treasuries fell Wednesday, pushing 2-year note yields up from a record low, as separate government reports showed an expansion in the service sectorand growth in private payrolls in July. The government announced that it will sell a total of $74 billion in its quarterly sales of long-term debt next week,including $34 billion in 3-year notes, $24 billion in 10-year notes, and $16 billion in 30-year bonds. The auction size is slightly smaller than the $78 billionof notes and bonds sold in the previous refunding in May.


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Morning Review - 080510

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