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Nov 11, 2010

RTTNews : Morning Market Briefing .- Stocks May See Early Weakness On Disappointing Cisco Guidance - U.S. Commentary

Morning Market Briefing Thu Nov 11 09:01 2010

Commentary

Nov 11, 2010 Stocks May See Early Weakness On Disappointing Cisco Guidance - U.S. Commentary Stocks may come under pressure in early trading on Thursday, with disappointing guidance from tech bellwether Cisco Systems (CSCO) partly offsetting recent optimism. The major index futures are indicating a notably lower open, with the Dow futures down by 50 points. Full Article

Economic News

Nov 11, 2010 Moody's Lifts Chinese Debt Ratings Moody's Investors Service raised the Chinese government bond rating, citing resilient performance of the economy, robust external position and strong government financial fundamentals. Full Article
Nov 11, 2010 Spanish Recovery Halts As Expected In Q3 The Spanish economy stagnated in the third quarter as measures taken by the government to reduce its overburdened debt weighed on economic activity heavily. Full Article
Nov 11, 2010 China Inflation Spikes To 25-Month HighChinese inflation accelerated to its highest level in more than two years in October, the government said on Thursday, raising the prospects for more tightening moves from Beijing to restore normal economic conditions. Full Article
Nov 11, 2010 Japan Core Machinery Orders Shed 10.3% On MonthCore machinery orders in Japan retreated a seasonally adjusted 10.3 percent in September compared to the previous month, the Cabinet Office said on Thursday, marking the first decline in four months. Full Article
Nov 11, 2010 Australia Jobless Rate Jumps In OctoberAustralia's unemployment rate unexpectedly increased in October. Full Article

Earnings News

Nov 11, 2010 Cisco Q1 profit climbs 8%, beats StreetWednesday, Cisco Systems, Inc. (CSCO) reported an 8% rise in profit for the first quarter, as revenue grew 19.2% from last year. The results were hurt by higher costs. Adjusted earnings per share came in above the Street view. Gross margin narrowed to 62.8% from 65.3%, the firm noted. Full Article
Nov 11, 2010 Kohl's Q3 EPS flat from last year, beats Street; guides Q4Wednesday, Kohl's Corp. (KSS) reported a third-quarter earnings per share that was flat from last year. Quarterly EPS came a penny above Street view, while revenue, which despite growing 4.1% from last year fell short of estimates. Comparable store sales improved 1.8%. Gross margin for the quarter expanded slightly to 38.5% from 38.0%. Looking ahead, the company said it expects fourth-quarter earnings to come in below current estimates. Full Article
Nov 11, 2010 Advance Auto Parts Q3 profit up 41%; boosts FY10 earnings viewWednesday, Advance Auto Parts Inc. (AAP) reported a 41% rise in its third-quarter profit, attributable to opening of new stores as well as a 9.9% growth in comparable store sales. Sales for the quarter went up 11.4% from last year and came in above the Street view. Looking ahead, the company once again lifted its full-year earnings guidance. Full Article
Nov 11, 2010 BT Group Q2 pre-tax profit rises 48%Thursday, BT Group plc (BT) reported a 48% rise in pre-tax profit for the second quarter, as a 2% dip in revenue was more than offset by lower one-time charges and operating costs. The year-ago results also benefited from a huge tax credit. Full Article
Nov 11, 2010 Aegon Q3 profit rises sharplyThursday, Aegon N.V. (AEG) reported a sharp rise in profit for the third quarter, reflecting strong performances in most businesses, higher one-time gains and a decline in impairment charges. Underlying earnings before tax advanced 21% year-over-year on higher gross deposits. Full Article
Nov 11, 2010 Siemens Q4 loss narrows; expects FY11 earnings growthThursday, Siemens AG (SI) said its fourth-quarter loss narrowed, reflecting an 8% growth in revenue and increase in orders. The results of the latest quarter were hit by hefty impairments at its Diagnostics segment. Looking ahead to the full year, the firm expects at least 25% - 35% growth in income from continuing operations. Full Article
Nov 11, 2010 Viacom Q3 profit down 59%Thursday, Viacom Inc. (VIA, VIAB) reported a 59% fall in profit for the third quarter, despite a 5% growth in revenue, hurt by higher one-time charges. Adjusted earnings from continuing operations climbed 6.7% from the past year. Full Article

Corporate News

Nov 11, 2010 Novartis halts lung-cancer drug trialsThursday, Novartis (NVS) said it is terminating clinical tests on its experimental lung-cancer drug, vadimezan, as interim results from a Phase III trial indicated it may not meet the primary endpoint. The firm said it would take a $120 million charge in the fourth quarter. Full Article

Broker Ratings Changes

Nov 11, 2010 FBR Capital Markets Downgrades Colonial Properties Trust (CLP) To Market Perform From Outperform With $20.00 Price Target
Nov 11, 2010 FBR Capital Markets Downgrades UDR, Inc. (UDR) To Market Perform From Outperform With $24.00 Price Target
Nov 11, 2010 FBR Capital Markets Raises BioMed Realty Trust (BMR) To Market Perform From Underperform With $19.50 Price Target

Todays WS Events

Nov 11, 2010 Abbott To Present At Credit Suisse Conference; Webcast At 1:00 PM ET Abbott Laboratories (ABT) will make a presentation at the 2010 Credit Suisse Annual Health Care Conference. The event is scheduled to begin at 1:00 PM ET, November 11, 2010. To access the live webcast, log on at www.abbottinvestor.com
Nov 11, 2010 Walt Disney Q4 10 Earnings Conference Call At 4:30 PM ET Walt Disney Co (DIS) will host a conference call at 4:30 PM ET November 11, 2010, to discuss its Q4 10 earnings performance. To participate in the audio webcast, log on to www.disney.com/investors
Nov 11, 2010 Gilead To Present At Credit Suisse Conference; Webcast At 11:30 AM ET Gilead Sciences Inc. (GILD) will make a presentation at the 2010 Credit Suisse Healthcare Conference in Phoenix. The event is scheduled to begin at 11:30 AM ET, November 11, 2010. To access the live webcast, log on at www.gilead.com
Nov 11, 2010 Microsoft To Present At The BMO Digital Conference; Webcast At 12:00 PM ET Microsoft Corporation (MSFT) CFO, Dennis Durkin, will present at the BMO Digital Entertainment Conference. The event is scheduled to begin at 12:00 PM ET, November 11, 2010. To access the live webcast, log on to www.microsoft.com/investor
Nov 11, 2010 J&J To Present At Credit Suisse Healthcare Conference; Webcast At 11:00 AM ET Johnson & Johnson (JNJ) will present at the Credit Suisse 19th Annual Health Care Conference in the Arizona Biltmore Hotel. The event is scheduled to begin at 11:00 AM ET, November 11, 2010. To access the webcast, log on to www.investor.jnj.com