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 [Bullet] 7:45 ET 
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 [Bullet] 8:55 ET 
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 [Bullet] 10:00 ET 

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Brocade BRCD signs deal to acquire Foundry Networks  FDRY for $3B $18.50+.0907

After Hours Summary
 SNDK -13.6%, AXP -11.0%, MRK -6.0% and SGP -3.2% on earnings; AAPL -11.1%; TXN -11.0% on earnings/guidance

Companies trading higher in after hours in reaction to earnings
 WGVO +5.4%; FNB +4.9%; PKG +4.0%; KTII +3.0%; BOOT +2.6%...  
Companies trading lower in after hours in reaction to earnings
 SNDK -13.2%; EXP -12.1%; AAPL -11.1%; TXN -11.0%; AXP -11.0%; MRK -6.4%; MHK -3.5%; SGP -3.2%; WASH -3.0%; HXL -2.0%; LNCR -1.5%; AMLN -1.1%...  Companies trading higher in after hours in reaction to news: BXG +108.4% (announces it has signed a non-binding letter of intent relating to the acquisition of the co at a price of $15.00/share by Diamond Resorts); FDRY +32.4% (Brocade announces definitive agreement to acquire Foundry Networks for $19.25 a share); PDE +3.7% (SeaDrill discloses 5.0% stake in 13D filing; confirms Nordea Bank and SeaDrill transaction); WCG +1.3% (Co to restate 2004, 2005, 2006 and 1Q07 and 2Q07 financials); PNRA 4.7% Holder Shamrock Activist Value Fund discloses actions they believe would enhance shareholder value)...  Companies trading lower in reaction to news
 WB -4.6% (Co says its Wachovia mortgage unit to discontinue wholesale mortgage lending -- Reuters); PAAS -3.7% (reports that expected commissioning of its newest silver mine will be delayed approximately 90 days); GBTS -2.8% (files mixed securities shelf of up to $50 mln); YHOO -1.9% (Yahoo! discloses in 8-k further terms of Icahn Parnters agreement).

Earnings

Before: AKS, AXE, ARB, ALV, BHI, BIIB, BJS, CP, BEAT, CSL, CAT, CE, CNC, CHKP, CME, CPO, DRH, DPZ, DD, FITB, FCFS, FMER, FRX, GNTX, HAL, IBKC, ICLR, IEX, IMN, JEC, JEF, JBLU, JRN, KELYA, KEY, KVHI, LXK, ERIC, LMT, MICC, OMC, OXPS, PCAR, PMTC, PNR, PAS, PTEC, PCP, DGX, RJF, RYN, RF, ROK, RCL, SWK, STI, SVU, TLAB, UAUA, UNH, UPS, LCC, USG, WAB, WB, WAT, WU, WTNY, XTO 

After: RNT, AMSG, ANAD, AXYS, BXP, BRCM, BTUI, CHRW, CAMD, CRI, CSCD, CEC, CERN, CSGS, DFG, DST, ETFC, EW, WIRE, EPIQ, FULT, HBHC, ILMN, INFN, ISRG, JLL, LRCX, LLTC, MANH, MEOH, MRH, NBR, NARA, NSC, ORLY, PTV, PNRA, PLT, PTP, PPDI, SEAB, SIAL, STM, SUPX, TRMK, USNA, VMW, VOCS, WM, WCN, XL, YHOO, ZHNE

Events

BBNK at AlwaysOn/STVP Stanford Summit Conf.

NI, PNY at American Gas Association Annual Legal Forum

Fed: Plosser.

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Monday  Jul  21 
 

 
 

 
 
 

 
 

 
ICSC-UBS Store Sales
 [Bullet] 7:45 ET 

Redbook
 [Bullet] 8:55 ET 

State Street Investor Confidence Index
 [Bullet] 10:00 ET 

4-Week Bill Auction
[Bullet] 11:30 ET 

20-Year TIPS Auction
[Bullet] 1:00 ET 

 
 
 
 

 
MBA Purchase Applications
 [Bullet] 7:00 ET 

EIA Petroleum Status Report
 [Bullet] 10:35 ET 

2-Year Note Auction
[Bullet] 1:00 ET 

Beige Book
 [Bullet] 2:00 ET 

 
 
 
 

Weekly Bill Settlement

 
 
 
 

 
Durable Goods Orders
[Consensus]
 [Star] 8:30 ET 

Consumer Sentiment
[Report]
 [Bullet] 10:00 ET 

New Home Sales
[Report]
 [Bullet] 10:00 ET 

 
Equity Settlement
07 -24 -2008
Equity Settlement
07 -25 -2008
Equity Settlement
07 -28 -2008
Equity Settlement
07 -29 -2008
Equity Settlement
07 -30 -2008
 

 

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BUSINESS WEEK MARKET ANALYSIS

 By Paul Cherney

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Top Ten Online Business Newspapers

     1. The New York Times
     2. USA Today (money)
     3. The Washington Post (business)
     4. Los Angels Times (business)
     5The Boston Globe (business)
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     7Houston Chronicle (business)
     8The Seattle Times (business)
     9Chicago Tribune (business)
   10San Francisco Chronicle (business)