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TUESDAY JULY 29  2008 CLICK     HERE TO SEE ECONOMIC         CALENDAR BELOW

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Economic 
10:00 Consumer Confidence (Jul.): 50.0 cons.

ICSC-UBS Store Sales
 [Bullet] 7:45 ET 
Redbook
 [Bullet] 8:55 ET 
Consumer Confidence
[Report]
 [Bullet] 10:00 ET

TOP FINANCIAL NEWS

BUSINESS NEWS

Merrill to raise $8.5 bln selling new common stock

After Hours Summary

 AMGN on earnings/guidance; MER +0.7% (announces sale of U.S. ABS CDOs, plans to issue $8.5 bln in new common shares; Moody's affirms MER)
Companies trading higher in after hours in reaction to earnings
 TUNE +9.2%; MTW +6.9%; VECO +5.4%; MTH +5.5%; WMGI +5.3%; WBSN +5.3%; MIG +4.7%; HIG +4.0%; OMI +3.1%; TXRH +3.0%; WLKT +2.6%; AMGN +2.5%; SSCC +2.2%; FELE +2.2%; EVVV +1.6%; CR +1.5%; UCTT +1.3%; AUTH +1.0%... 
Companies trading lower in after hours in reaction to earnings
 NWK -26.1%; CGNX -22.3%; PLXT -18.2%; TRID -16.8%; CMP -15.6%; ININ -14.3%; ZRAN -14.1%; JDAS -9.5%; ATHR -8.7%; HLIT -8.6%; LDSH -8.5%; XL -7.9%; MOS -3.8%; IVAC -2.6%; RCII -2.3%... 
Companies trading higher in after hours in reaction to news
: SCA +82.7% (Q2 Developments); ARTE +13.8% (reports growing demand for ArteFill with more than ten thousand patients treated); PZZI +11.7% (announces multi-unit agreement in Oman); BBT +1.5% (Fitch affirms BB&T IDR at 'AA-'; Outlook Stable); IRIS +1.0% (In furtherance of productive discussions with FDA, IRIS to proceed with new FDA 510(k) pre-market notification for NADiA PSA); MOT +0.6% (to acquire AirDefense, a wireless LAN security provider; terms not disclosed); MER +0.7% (announces substantial sale of U.S. ABS CDOs, exposure reduction of $11.1 bln; plans to issue new common shares with gross proceeds of ~$8.5 bln through a public offering launched today; Moody's affirms Merrill at A2/stable on sale of CDOs, equity raise)... 
Companies trading lower in reaction to news
 XL -7.9% (XL still may be cut by Fitch; Fitch sees affirming XL's ratings if capital raising completed --Bloomberg); REV -2.9% (sells non-core Brazilian brands in $104 mln in all cash transaction; announces agreement with SCA with respect to pre-IPO guarantee and reinsurance agreements; reduces quarterly dividend to $0.19; announces $2.5 bln share offering; offering ordinary and equity security units); PSSI -4.1% (announces proposed offering of $200 mln of onvertible senior notes); JBLU -2.9% (announces, in their 8-k, CEO cuts salary by 50% to $250,000); MF -1.7% (J.C. Flowers discloses 9.1% stake in 13D filing).

Earnings

Before: CAS, AG, AAI, ALU, ALXN, ANR, AMED, ARM, AVX, BEAV, BMS, BLT, BP, GIB, COH, CL, CLR, COWN, CTCM, CYNO, ELNK, EME, ENTG, ETR, FSRV, FDP, GM, GVHR, GTI, GPI, GLF, HSC, HW, HERO, HEP, IAR, IMA, JAH, KDN, LDR, LCAV, LEA, LXRX, LPX, MSO, MAS, MC, MCGC, MHP, MWRK, NOV, NCR, NSTC, NOC, NRG, PTC, MALL, PER, PPC, POZN, PVTB, QLTI, RBC, RTI, SAP, SEPR, SINT, SAH, SNE, SPNC, TLM, TFX, TNC, TPP, TEVA, X, UA, VLO, VSH, WDR, WMI, WRLD

After: ACE, ACTL, ADVS, ATAC, ALGN, AMMD, AJG, AUDC, BBSI, BBOX, BRE, BEXP, BPL, BWLD, CALD, CSCD, CBG, CBI, CTX, CEDC, CEPH, CTV, OFC, CVA, CTS, DENN, XRAY, DBTK, DWA, DRC, EGLT, EFII, ERTS, EQ, EAC, ENH, ENTU, EOG, EQY, EXR, FARO, FEIC, FISV, FMC, BGC, GNW, GMKT, GCFB, HBI, HGR, HS, HIW, HTCH, IDTI, JLL, KEYN, KFRC, KONA, LDSH, LRCX, LFL, LFG, XPRT, LNC, LNET, MXWL, MET, MOSY, NLC, NATI, NCIT, NAL, ORCC, OSG, PRAA, QTM, RSYS, RNR, RFMD, SVVS, SIMO, SSTI, SNWL, SPSS, STAR, SUMT, SDXC, TTMI, ULTI, URI, VIA/B, VIMC, VNUS, WTS, XL

Events

BEC 2008 AACC Investor Meeting

CVBF, FCBC, PFS, SRCE, UBSH, BMTC at Keefe, Bruyette & Woods, Inc. Community Bank Investor Conf.

GCO Analyst Event at WSA

IRIS Financial Analyst Reception

TRBN IBC Life Sciences Beyond Antibodies Conf.

 

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2008 U.S. Economic Events & Analysis

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Monday  Jul  28 
 
 

 
 

 
 
 
 

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

Redbook
 [Bullet] 8:55 ET 

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

4-Week Bill Auction
[Bullet] 1:00 ET 

52-Week Bill Auction
[Bullet] 1:00ET

 
 
 

 
 
 
 

Weekly Bill Settlement
52-Week Bill Settlement
2-Yr Note Settlement
5-Yr Note Settlement
20-Yr TIPS Settlement


 
Monster Employment Index
 [Bullet] 6:00 ET 

Employment Cost Index
[Consensus]
 [Bullet] 8:30 ET 

GDP (advance
[Consensus]
 [Star] 8:30 ET 

Jobless Claims
[Consensus]
 [Bullet] 8:30 ET 

NAPM-Chicago
[Report]
 [Bullet] 9:45 ET 

EIA Natural Gas Report
 [Bullet] 10:35 ET 

3-Month Bill Announcement
[Bullet] 11:00 ET 

6-Month Bill Announcement
[Bullet] 11:00 ET 

Farm Prices
 [Bullet] 3:00 ET 

Money Supply
 [Bullet] 4:30 ET 

 
 
 
 

 
Equity Settlement
07 -31 -2008
Equity Settlement
08 -01 -2008
Equity Settlement
08 -04 -2008
Equity Settlement
08 -05 -2008
Equity Settlement
08 -06 -2008

 

 

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BUSINESS WEEK MARKET ANALYSIS

 By Paul Cherney

 Economic Indicators

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