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Jun 23, 2010

NASDAQ : Latest Forex News .- Japan: Corporate Service Price Index (CSPI) falls 0.8% in May. June 23rd., 2010

NASDAQ

ABC Breaking News Alert: Gillard takes power in bloodless coup. June 23rd., 2010.

 

Gillard ousts Rudd in bloodless coup

By online political correspondent Emma Rodgers
Updated 2 hours 23 minutes ago
Julia Gillard has been elected unopposed to the Labor leadership, seizing power in a bloodless Parliament House coup after Prime Minister Kevin Rudd decided not to contest this morning's leadership ballot.
Ms Gillard will now be sworn in as Australia's first female Prime Minister. Emerging from this morning's meeting, she said she felt "very honoured" and said she would be making a statement shortly.
Treasurer Wayne Swan now steps up as Deputy Prime Minister. He was also elected unopposed.
A stony-faced Mr Rudd left the meeting in the company of Labor stalwart John Faulkner.
Ms Gillard now has the task of leading a traumatised and divided party to a federal election which could be held in a matter of weeks.
Mr Rudd's sudden and spectacular downfall makes him the first Labor prime minister to be dumped from office before completing a first term.
The situation came to a head last night after senior factional powerbrokers from the right told Ms Gillard she had enough support to take the leadership.
The powerful Australian Workers Union and Health Services Union also quickly swung their support behind Ms Gillard as Mr Rudd's support base collapsed.
After hours of crisis meetings last night Mr Rudd emerged just after 10:00pm AEST to announce that Ms Gillard had challenged him to a ballot and that he would also stand.
For months Ms Gillard had said that she was not interested in challenging Mr Rudd but as events charged ahead last night it appeared she was left with no choice but to throw her hat in the ring.
As the numbers were crunched it became clearer that Ms Gillard was going to prevail, with supporters on both sides agreeing that she would win.
Mr Rudd's fall from the top has been swift, as his popularity among voters fell from stratospheric highs to disastrous lows in just a few months.
Voters lost faith in Mr Rudd after a series of bungles and backflips, including the shelving of the emissions trading scheme.
Last night he had vowed to fight to remain in office saying the Australian people had elected him, not the Party's factional leaders.
First posted 4 hours 0 minutes ago

ABC News: Australia Business June 23rd., 2010 09:57 EST Perú



Undersea accident unleashes torrent of oil
An undersea accident has forced BP to shut down a key system collecting oil from its blown-out Gulf of Mexico well, unleashing a torrent of oil, the top US oil spill official said.

Australian shares pass Wall Street slide
The local share market has surpassed the slide on Wall Street overnight, losing 1.6 per cent.

Shares fall on US jitters
Australian stocks have continued to fall for a second day, after a negative lead from Wall Street overnight.

THe Gata Dispatch . Jeffrey Nichol .- Looking behind the Saudi gold holdings increase. June 23rd., 2010

Jeffrey Nichols: Looking behind the Saudi gold holdings increase

10:52a ET Wednesday, June 23, 2010
Dear Friend of GATA and Gold:
Writing for Resource Investor, Jeffrey Nichols of Rosland Capital in Santa Monica, California, notes the sudden more than doubling of the gold reserves reported by Saudi Arabia and speculates that Saudi Arabia and other oil-exporting nations are likely buying gold "on the sly through their sovereign wealth funds that do not necessarily report their investment holdings." If so, the gold suppression scheme of the paper pushers in London and New York may be very near its end. Nichols' commentary is headlined "Looking Behind the Saudi Gold Holdings Increase" and you can find it at Resource Investor here:
http://www.resourceinvestor.com/News/2010/6/Pages/Looking-Behind-the-Sau...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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MarketWatch Personal Finance Daily. June 23rd., 2010

MarketWatch

Personal Finance Daily
JUNE 23, 2010

Wednesday's Personal Finance stories

By MarketWatch



Don't miss these top stories:

We all know the housing market crashed a few years ago and has been in the doldrums ever since. And we all know that's why Congress enacted the home-buyer tax credit a couple of years ago. It's also why new-home sales fell of a cliff in May, after the April tax-credit deadline to sign on a purchase contract (home buyers have until June 30 to close on a home). Read Rex Nutting's Economic Report today for more on those figures.

But what no one really knows yet is just how much fraud is running rampant in the home-buyer tax credit program. A report out today points to fraudulent tax-return claims worth $27 million to scammers -- including some people serving life sentences in prison who claimed the credit. But the report also said that investigators unearthed evidence of other cases that total "tens of millions" dollars in fraud, in addition to the $27 million. They're just not sure, yet, exactly how many tens. And that's only for 2008 tax returns. Can't wait to see what the 2009 and 2010 claims look like.

One particularly interesting fraud case cited in today's report: A single home was claimed by 67 different "first-time buyers." Also, a few IRS employees apparently claimed the credit when they were ineligible, i.e. not first-time buyers. Way to promote trust in the system, guys.

Meanwhile, some say honest taxpayers who filed for the credit are waiting months for that check to arrive -- and that's cash that might help a bit to stimulate anemic consumer spending. Think of all the home renovations that could be made if the tax credit got quickly into new homeowners' hands.

Then again, maybe the delays are because the IRS has started taking a closer look at claims. That, in the end, would be a very good thing.

-- Andrea Coombes , Personal Finance editor

REAL ESTATE

Prisoners, scammers profit on home-buyer tax credit

The Internal Revenue Service doled out more than $27 million in fraudulent claims for the home buyers' tax credit on returns for 2008, including claims by prisoners serving life sentences and people who purchased their home before the credit was in effect, a U.S. Treasury Department report said Wednesday.
See TaxWatch.


New-home sales plunge 33% to record low in May

Sales of new single-family homes plunged 33% in May to a record-low level after a federal subsidy for home buyers expired, according to data released Wednesday by the Commerce Department.
See Economic Report.


House eyes fee Lawmakers hit sticking point on aid for unemployed homeowners

As House and Senate negotiators continue to work differences in their versions of bank reform, a House proposal to have $3 billion used to help unemployed homeowners avoid foreclosure may prove to be a sticking point.
See story on lawmakers hit sticking point on aid for unemployed homeowners.


CREDIT & DEBT

New rules mean new fees

Lawmakers have been busy ramping up consumer protections on a variety of financial products, but are we saving any money yet? Already banks are fighting back with new fees and other changes to your accounts. MarketWatch's Andrea Coombes looks at some of the changes banks are making to account terms and fees.
 Watch Personal Finance Minute.


ECONOMY & POLITICS

Negotiators back independent consumer bureau

House and Senate negotiators agreed Tuesday to create a strong and independent consumer protection bureau as part of sweeping financial regulatory reform legislation.
See story on negotiators back independent consumer bureau.


Lawmakers drop demand for bank fund

House members of a conference committee seeking to work out differences between two bank-reform bills on Wednesday agreed to drop their demands for a $150 billion fund to be used to dismantle a failing mega-bank so its collapse wouldn't damage the markets.
See story on lawmakers drop demand for bank fund.


Business leaders still cautious about the economy

The CEOs of America's largest companies expect sales and hiring to rise over the next six months, but they don't plan to spend as much and they remain worried about the health of the U.S. economy.
See story on business leaders still cautious about the economy.


Caution's the word as Fed wraps up meeting

As they wrap up a two-day meeting to review the U.S. economy, interest rates and monetary policy, Federal Reserve officials are expected to issue a cautious statement keeping rates on hold at record-low levels, analysts said.
See The Fed.


Oil prices may rise to $86 a barrel by 2015, IEA says

Oil prices may rise to $86 a barrel by the middle of this decade, representing an increase of nearly $10 a barrel, or about 13%, from current levels, the International Energy Agency said Wednesday.
See story on oil prices expected to rise.


HEALTH CARE

Pay 20% more for the same product? Or 13% more for fewer benefits?

If you're facing a substantial premium increase just to keep your same health plan, do you choose to swallow hard and pay it or switch to one with skimpier coverage -- say, a higher deductible or other out of pocket costs?
See Kristen Gerencher's Health Matters Blog.


INVESTING

Five common investing mistakes to avoid

Russell Investments recently posted a list of companies joining and leaving the Russell 3000 index on June 25. In anticipation of this event, many investors have either bought the stocks of companies being added to the index or sold those being deleted from it. Big mistake.
See Robert Powell's Your Portfolio.


Commentary: Seven lessons the World Cup offers on the stock market

You can learn a lot from watching the World Cup-and not just about soccer. As I've tuned into the games I've started to realize how many ways it's just like the stock market-and how it can actually teach you a useful thing or two about making money.
See Brett Arends.


Commentary: Outrunning the bear

"I've just moved my retirement portfolio into cash," a friend told me late last week. Like millions of folks, he was tired of the market's pernicious volatility and wanted to play it safe.
See Outside the Box.


Commentary: How to profit from a slipping U.S. economy

The killer virus that is stalking the economies of the United States and Western Europe got its start in the aisles of Best Buy Co. It will die there too eventually, but not yet -- not even close.
See Jon Markman.


Commentary: Contrarian take on gold's prospects

Was that all there was to gold's new all-time highs? If so, it was a big disappointment. After gold rose last Friday to new all-time highs, and then rose slightly higher still early in Monday's session, the metal quickly reversed itself -- ending Monday's session with a big loss.
See Mark Hulbert.


INSURANCE

How to save money on life-insurance costs

When you're paying for life insurance, you'd like to know you're getting a financial break for slogging away on the treadmill or kicking the smoking habit.
See Jennifer Openshaw.

CNBC : Evening Brief: Senators Prepare a Citigroup-Sized Hole In Volcker Rule .June 23rd., 2010



LATEST STORIES

LATEST VIDEO

  Stop Trading! Listen to Cramer
Mad Money host Jim Cramer gives his takes on the Fed decision and markets.
» Watch Video

Fed Decision: Rates Unchanged
The Federal Reserve decides to keep Fed funds rates unchanged. Insight with Ken Volpert, Vanguard Funds; Bill Gross, Pimco co-founder; CNBC's Steve Liesman & Hampton Pearson.
» Watch Video

President Obama Comments on McChrystal
President Barack Obama says he accepts General Stan McChrystal's resignation with regret and nominates David Howell Petraeus to replace him.
» Watch Video

Smartphone Talk: Discussing Droid
Discussing the smartphone showdown between Google and Apple, with John Stratton, Verizon CMO; Eric Schmidt, Google CEO; Sanjay Jha, Motorola CEO; Shantanu Narayen, Adobe CEO; and CNBC's Dennis Kneale.
» Watch Video  

FGC BOLSA - FGC FINANCIAL MARKETS : MarketWatch -- Industry-financial Services - Stocks in Focus Thiusrday.- Discover H & R Block . June 23rd., 2010





INDUSTRY- FINANCIAL SERVICES



Stocks to Watch: Stocks in focus Thursday: Discover, H&R Block
 
By Rebecca L. McClay MarketWatch
6/23/2010 7:15:00 PM



Among the companies whose shares are expected to see active trade in Thursday’s session are Discover Financial Services, Research in Motion and H&R Block. 

NYT : Afternoon Business Update. June 23rd, 2010




Afternoon Business Update

Rotten Apple, or Just Sour Grapes?

By MIGUEL HELFT
Once dismissed by larger, more successful companies, Apple now finds itself in the bewildering position of being viewed as an anticompetitive industry bully.

U.S. New Home Sales Drop 33% in May

By CHRISTINE HAUSER
Sales of new single-family homes tumbled more than expected as the effects of a tax credit faded.

House Drops Demand for Bank-Paid Liquidation Fund

By DAVID M. HERSZENHORN
House negotiators working on an overhaul of the financial system agreed to leave out a $150 billion fund that would have been used to liquidate large institutions.

BP Executive Prepares to Take Over Spill Response

By CLIFFORD KRAUSS and ANDREW E. KRAMER
Robert Dudley has plenty of experience dealing with a hostile government and angry citizens.

FGC BOLSA - FGC FINANCIAL MARKETS : U: S. Markets at Close




FOX BUSINESS

Market Snapshot
Index Last Change %Change  
DJIA 10,298.44 +4.92 0.05% Hilighted
Nasdaq 2,254.23 -7.57 0.33%  
S&P 500 1,092.04 -3.27 0.30%  
FOX 50 799.27 -3.39 0.42%  
DIJA Chart
 

NASDAQ 

6/23/2010 4:30:00 PM ET DJ30 PointChange: +4.92 Level: 10298.44 NASDAQ PointChange: -7.57 Level: 2254.23 NQ100 PercentChange: -0.3 R2K PercentChange: -0.3 SP400 PercentChange: -0.2 SP500 PointChange: -3.27 Level: 1092.04 NASDAQ-Adv:1187 Dec: 1412 NYSE-Adv:1422 Dec: 1601
[BRIEFING.COM] Mostly muddled trade ended in a modest loss for the S&P 500 as the worst new home sales figures on record acted as a drag on trade and the FOMC failed to deliver any positive news to market participants.
Stocks set their session lows in the early going as it was reported that new home sales for May fell almost 33% month-over-month to an annualized rate of 300,000 units. Not only was that far below the rate of 430,000 units that had been expected by economists polled by Briefing.com, but it was the lowest rate since records began more than 45 years ago.
Though the stock market was able to trim its losses, it didn't make its way into higher ground until the afternoon release of the latest policy statement from the Federal Open Market Committee (FOMC). The FOMC maintained the target range for the federal funds rate at 0.00% to 0.25%, as expected. It also stated that exceptionally low levels of the federal funds rate are expected for an extended period.
Once again, Thomas Hoenig voted against the decision to keep the interest rate target unchanged. He also argued against the language about keeping exceptionally low interest rates.
Though the FOMC included in its statement the observation that economic recovery is proceeding, it also stated that financial conditions have become less supportive of economic growth on balance.
The stock market's upward push during the minutes that followed the FOMC statement proved short lived, mostly because it lacked any sort of real leadership. In turn, stocks spent the rest of the session stuck in choppy trade with moderate losses.

Read more: http://www.nasdaq.com/aspx/market-summary.aspx#ixzz0riKGRxPz
NASDAQ

FGC BOLSA - FGC FINANCIAL MARKETS: MarketWatch - Industry Financial Markets.-MarketWatch First Take: The Fed isn't panicking, but still getting worried. June 23rd.,2010





INDUSTRY- FINANCIAL SERVICES


MarketWatch First Take: The Fed isn't panicking, but still getting worried
 
By MarketWatch
6/23/2010 2:45:00 PM



The Federal Reserve isn’t panicking about the recovery, but it’s not very happy about the pace of growth. 
The Fed: Fed says Europe woes key reason to hold steady

 
By Greg Robb MarketWatch
6/23/2010 2:22:00 PM



The Federal Reserve keeps interest rates on hold at a record low near-zero for the eighteenth straight month and says the European debt crisis was negatively impacting the recovery. 
The Fed: Text of FOMC statement

 
By MarketWatch
6/23/2010 2:17:00 PM



The Federal Open Market Committee released the following statement after its closed-door meeting in Washington. 



NASDAQ: TOP BUSINESS STORIES / Market News and Analysis.- June 23rd., 2010

NASDAQ 

Top Business Stories



Market News & Analysis

NYT : Breaking News Alert .- Fed Leaves Rates Unchanged, Citing Overseas Threats to U.S. Growth. June 23rd., 2010


Breaking News Alert
The New York Times
Wed, June 23, 2010 -- 2:29 PM ET
-----

Fed Leaves Rates Unchanged, Citing Overseas Threats to U.S. Growth

The Federal Reserve's policy-making arm said on Wednesday
that it had decided to keep short-term interest rates near
zero for "an extended period" in light of continuing threats
to economic growth, including "developments abroad."

The Federal Open Market Committee's decision to stick with
its low-interest-rate policy was expected, given the
persistently high unemployment rate and continuing weakness
in housing and consumer spending.

As before, the committee said, economic conditions "including
low rates of resource utilization, subdued inflation trends,
and stable inflation expectations, are likely to warrant
exceptionally low levels of the federal funds rate for an
extended period."

Read More:
http://www.nytimes.com?emc=na

MarketClub : Forex Should Not be Foreign to you. June 23rd., 2010



It's the biggest market in the world and is traded 24 hours a day,
6 days a week, and therefore one that is impossible to ignore. I'm
speaking, of course, about the forex market.

The question is, is this the tail that's wagging the dog? Meaning,
is the forex market, mainly the euro, dictating the trend in American
and European equity markets.

The answer is yes, for the moment it is. Now, if you're not familiar
with the forex markets and the euro, you should look at the ETF FXE,
the spot euro, and also the euro futures market at the Chicago Mercantile
Exchange (CME), as they are all tradable.
In today's short video we show you exactly how we think this currency will
play out in the future.

As always, our videos are free to watch and there is no need for registration.
Please comment on your thoughts on this market.

http://www.ino.com/info/572/CD3233/&dp=0&l=0&campaignid=3

Thank you,
Adam Hewison
President, INO com
Co-Founder of MarketClub

FGC BOLSA - FGC FINANCIAL MARKETS : CFTC Press Releases



The following General press releases have been published:
See the CFTC Press Room for the latest news and events or Press Room Archives for previous releases.

FOX BUSINESS: Market Snapshot. June 23rd., 2010 at 9:57 am EST


Market Snapshot
Index Last Change %Change  
DJIA 10,275.16 -18.36 0.18% Hilighted
Nasdaq 2,249.48 -12.32 0.54%  
S&P 500 1,089.58 -5.73 0.52%  
FOX 50 799.98 -2.68 0.33%  
DIJA Chart
 

FORA t.v. : WIRED's Chris Anderson: Atoms Are the New Bits Free Preview WIRED. June 23rd., 2010

WIRED's Chris Anderson: Atoms Are the New Bits Free Preview

WIRED


FOX BUSINESS : NEW HOME SALES DROP 32.7% IN MAY TO LOWEST LEVEL ON RECORD. June 23rd., 2010


New Home Sales
New Home Sales Tumble Sales of new single-family homes dropped 33% in May to a record low in May as the boost from a popular tax credit faded.


THE MOST POWERFUL NAME IN BUSINESS NEWS

Soros: Germany Danger for Europe

Is the World Broke? The billionaire said German's budget savings policy risks could collapse the euro.

Housing Data Hits Stocks

Disappointing data on new home sales sent Wall Street further into red territory.

Dudley Takes Over BP Cleanup

Bob Dudley is now in charge of clean up as the head of the Gulf Coast Restoration Organization.

Anatomy of the iPhone 4

The phone reportedly sports chips from Samsung, Micron Technology and STMicroelectronics.

Winners in Bank Reform: Auto Dealers

Lawmakers spared auto dealers from new scrutiny and neared agreement on trading limits for banks.

FGC BOLSA - FGC FINANCIAL MARKETS : MarketWatch.-The Fed: Caution is the word as Fed wraps up meeting . June 23rd., 2010







INDUSTRY- FINANCIAL SERVICES


By Greg Robb MarketWatch
6/23/2010 9:44:00 AM


As they wrap up a two-day meeting to review the sputtering U.S. economy, interest rates and monetary policy, Fed policy makers are expected to issue a cautious statement keeping rates on hold at record-low levels, analysts agree. See full story




Bond Report: Treasurys inch up before auction, Fed decision


By Deborah Levine MarketWatch
6/23/2010 9:09:00 AM



Treasury prices edge higher as short-term yields give some ground. Bond traders play it cautious ahead of the government’s auction of 5-year notes and the Federal Reserve's decision on interest rates. See full story


RTTNews : Daily Stocks to Watch.American Apparel Wins $55.7 Mln Contract For Army Combat Uniform Coats - Stocks to Watch June 23rd., 2010

Daily Stocks to Watch Wed Jun 23 09:02 2010 

Stocks To Watch

Jun 23, 2010 American Apparel Wins $55.7 Mln Contract For Army Combat Uniform Coats - Stocks to WatchAmong the latest contracts awarded by the U.S. Department of Defense is a $55.7 million contract for American Apparel, Inc. (APP) to supply combat uniform coats. The deal is a firm-fixed-price contract for a maximum $55,715,352 for Army combat uniform coats. Full Article
Jun 23, 2010 Introducing RTT Growth & Value StocksThe Growth & Value Stocks service is designed with a disciplined approach of extensive fundamental analysis to cater swing traders and investors. The service identifies growth stocks that are generally overlooked and value stocks that are usually undervalued by the market. The growth and value stocks we select have significantly outperformed the broader market indices. Full Article

RTTNews : Morning Market Briefing.- Stocks Headed For Higher Open Ahead Of Fed Decision - U.S. Commentary. June 23rd., 2010

Morning Market Briefing Wed Jun 23 09:01 2010 

Commentary

Jun 23, 2010 Stocks Headed For Higher Open Ahead Of Fed Decision - U.S. Commentary Stocks are poised for a moderately higher open on Wednesday, as traders await the Federal Reserve's decision on interest rates. New home sales and oil inventories data may help to drive market movement ahead of the Fed announcement. The major index futures are all in positive territory, with the Dow futures up by 45 points. Full Article

Economic News

Jun 23, 2010 BoE Split On Interest Rate, Sentance Calls For Hike: Minutes Policy makers of the Bank of England left its key interest rate unchanged by a split vote in June, the minutes of the meeting showed Wednesday. Full Article
Jun 23, 2010 Eurozone Private Sector Growth Eases Again Growth in Eurozone private sector activity eased for the second straight month in June, reflecting a slowdown in new order and output growth. The downturns in growth of output, new orders and exports towards the end of the second quarter suggest that economic growth will moderate in the second half of the year. Full Article
Jun 23, 2010 German Consumer Morale Set To Stabilize In July: GfK German consumer sentiment is set to stabilize in July after a slight deterioration in June, suggesting that strong fundamentals of the domestic economy is helping Germans to avert the fears about recent financial market turmoil and the European sovereign debt crisis. Full Article
Jun 23, 2010 French Manufacturing Confidence Deteriorates French manufacturing confidence eased slightly in June, a key monthly survey suggested, with industry leaders pessimistic about future growth. The performance comes amid concerns of contagion from the sovereign debt crisis in Greece spreading to the rest of the euro area. Full Article
Jun 23, 2010 Singapore May Inflation Exceeds Expectations Singapore consumer prices rose more than expected in May due to higher costs of transport, housing and food amid strong economic growth. Full Article
Jun 23, 2010 N.Z. Current Account Deficit NarrowsNew Zealand's current account balance narrowed sequentially in the March quarter, with the decrease driven by a rise in exports and a fall in the investment income deficit, Statistics New Zealand said. Full Article

Earnings News

Jun 23, 2010 Jabil Circuit posts Q3 profit, beats estimate; guides Q4 above StreetTuesday, Jabil Circuit, Inc. (JBL) said it swung to a third-quarter profit, as revenue grew 32.1% from the previous year. Adjusted earnings surged to surpass the Street view, as did the quarterly revenue. Looking ahead, the company guided fourth-quarter earnings and revenue to exceed the estimates of analysts. The company also revealed that it signed a deal to divest its manufacturing operations in France and Italy. Full Article
Jun 23, 2010 Adobe Q2 profit up 18% on Creative Suite 5 sales, beats Street; guides Q3 earningsTuesday, Adobe Systems Inc. (ADBE) reported an 18% rise in second-quarter profit, helped by strong sales of its flagship Creative Suite 5 design software. Both earnings and revenue, which grew 34% year-over-year, came in above the Street view. Looking ahead, the company guided third-quarter earnings in line with the current estimate of analysts. Further, Adobe Systems said its board authorized a share repurchase up to $1.6 billion. Operating margin for the quarter widened 120 basis points to 24.1%. Full Article
Jun 23, 2010 Red Hat Q1 Profit advances 30%Tuesday, Red Hat Inc. (RHT) reported a 30% rise in first-quarter profit, reflecting a 20% growth in revenue as the number of large deals booked increased. Adjusted earnings came in line with the Street view, while revenues surpassed expectations. Full Article
Jun 23, 2010 CarMax Q1 profit soars, beats estimateWednesday, CarMax Inc. (KMX) posted a 252% jump in profit for the first quarter, reflecting a 23% growth in revenue, as well as an auto finance income, compared to loss last year. Both earnings and revenue came in above the Street view. Comparable store used unit sales increased 9% year-over-year. Total gross profit climbed 21% on higher unit sales average selling prices of used vehicles and wholesale vehicles. Gross margin, however, dipped 40 basis points to 14.7%, while operating profit margin expanded 4.7 percentage points to 7.3%. Full Article
Jun 23, 2010 Medtronic guides Q1 results below Street, backs FY11 viewWednesday, Medtronic, Inc. (MDT) said it expects first-quarter earnings to fall short of analysts estimate, although growing 10% - 13% year-over-year, after adjusting for acquisition dilution and the impact of an extra week. The company also guided revenue for the quarter to come in below the Street's expectations. For fiscal year 2011, Medtronic maintained its earlier outlook. Full Article
Jun 23, 2010 Philip Morris lowers FY10 EPS guidance rangeTuesday, Philip Morris International Inc. (PM) lowered its full-year 2010 earnings per share outlook, citing prevailing exchange rates, improved business outlook, and benefit from the reversal of certain tax provisions. The estimate of analysts fall near the top end of the revised guidance range. The company expects reported EPS to increase by around 14% - 17%, up from the 10% - 13% range projected in April 2010. Full Article

Corporate News

Jun 23, 2010 RealNetworks cuts 85 jobs, reduces office spaceTuesday, RealNetworks, Inc. (RNWK) said it will slash 85 jobs, including about 25% of its executives, in a reorganization to flatten the organizational structure and improve efficiency. The company has consolidated its Technology Products and Solutions and Media Software and Services business units and also reduced its office space in Europe, Asia and its Seattle headquarters. Consequently, Real expects to record restructuring charges of about $10 million for the quarter ending June 30. Full Article

Todays WS Events

Jun 23, 2010 Honeywell To Present At The Deutsche Bank Securities 2010 Industrial Conference; Webcast At 12:20 PMHoneywell International Inc. (HON) will present at the Deutsche Bank Securities 2010 Industrial Conference in Chicago on June 23, 2010. The event is scheduled to begin at 12:20 PM ET. To access the live webcast, log on at http://www.honeywell.com/investor
Jun 23, 2010 Ford Motor To Present At Deutsche Bank 2010 Industrials Conference; Webcast At 1:15 PM ET Ford Motor Co. (F) will make a presentation at the Deutsche Bank 2010 Industrials Conference. The event is scheduled to begin at 1:15 PM ET June 23, 2010. To access the audio webcast, log on at www.shareholder.ford.com
Jun 23, 2010 Nike Q4 10 Earnings Conference Call At 5:00 PM ET Nike Inc. (NKE) will host a conference call at 5:00 PM ET June 23, 2010, to discuss Q4 10 earnings results. To access the live webcast, log on at www.nikebiz.com/investors