Trading Points
07:28 ET Opening Indications : This morning's fair value figures -- S&P 500 fair value:1220; closed 1 pt above fair value. Nasdaq 100 fair value: 1741; closed 7 pts above fair value. Current indications: S&P 500 futures are -9.0, or 8 pts below fair value. Nasdaq 100 is -24.0, or 17 pts below fair value... Warnings from VRTS, AAPL, INTC weighing on equities; market also disappointed by light top-line results posted by AOL (down 3% in pre-market).
07:21 ET JP Morgan Chase (JPM) 42.30: Reports Q2 earnings of $0.33 a share vs yr-ago EPS of $0.89. Excluding operating loss at JPMorgan Partners, company earned $0.64 a share. First Call consensus for the qtr was $0.65. Board of directors authorizes a $6 bln buyback. "We are not satisfied with our financial results, which have been negatively affected by weak markets and deterioration of private equity values."
07:14 ET Tellabs (TLAB) 16.24: Reports Q2 earnings of $0.02 a share, 2 cents above consensus, vs yr-ago EPS of $0.39; sales fell 35% to $509.4 mln, slightly above company's $500 guidance. Company did not provide guidance for Q3 or the full yr.
07:08 ET EMC Corp (EMC) 20.39: Reports Q2 earnings of $0.06 a share (excluding items), a penny above consensus and at the high-end of guidance of $0.04-$0.06 issued July 5; revenues slipped 6% to $2.02 bln. "The global economic environment has become much tougher. I cannot recall a more difficult environment in terms of technology spending than the one that has unfolded over the past few months."
07:03 ET Knight Trading (NITE) 9.51: -- Update -- Excluding charges of 7 cents, NITE earned $0.10 a share for the qtr, exceeding consensus by a penny.
06:57 ET Knight Trading (NITE) 9.51: -- Update -- Posts Q2 earnings of $0.03 a share (including items), vs yr-ago EPS of $0.53. Revenues fell 46% to $165.8 mln. As of July 1, company has revised its ''payment for order flow" schedules and is considering the introduction of fees for certain transactions.
06:48 ET AOL Time Warner (AOL) 14.63: -- Update -- Inks multi-year, multi-million dollar agreement for WorldCom (WCOM) to advertise across multiple AOL Time Warner media brands, including Time Inc. publications, Time Warner Cable, and the Turner Broadcasting System.
06:45 ET Teradyne (TER) 32.79: After the close, semiconductor equipment maker reported an in-line Q2 loss of $0.12, while lowering guidance for Q3; sees loss of $0.22 to $0.32 vs. current consensus of -$0.10; company cautioned that "based on conversations with a broad cross section of our customers, we see no upturn in the near future."
06:38 ET AOL Time Warner (AOL) 49.45: Company reports Q2 cash earnings of $0.32 a share, 4 cents above consensus, vs yr-ago EPS of $0.25. Revenues rose 3% to $9.2 bln (Multex consensus $9.69 bln). |
