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Oct 28, 2011

MarketWatch | weekly Roundup top 10 stories, Oct. 24 - 28

MarketWatch
Weekly Roundup
OCTOBER 28, 2011

MarketWatch top 10 stories, Oct. 24 - 28

By MarketWatch



NEW YORK (MarketWatch) — U.S. stocks, which closed flat on Friday, were nevertheless closing in on completing their best October ever after a deal among European leaders was reached on Thursday to help solve the euro zone's sovereign debt crisis.

The S&P 500 Index (SPX) closed on Friday at 1,285.09, up 0.5 points or 0.04% for the day. For the week, the index gained 3.8%. The Dow Jones Industrial Average (DJIA) rose 22.56 points or 0.2% on Friday to 12,231.11. For the week, the index was up 3.6%. The Nasdaq Composite Index (COMP) fell 0.1% or 1.5 points on Friday to close at 2,737.15. The index rose 3.8% for the week.

Visit MarketWatch this weekend for all the latest news you need to manage you portfolio and your life. Our Weekend Investor column this week shows investors an unlikely place they can find dividend yield in the stock market.

As always, you can prepare for next week's market action with our week-ahead videos:

 U.S. Week Ahead: Manufacturing and the FOMC.

Europe's Week Ahead: Key economic indicators

 Asia's Week Ahead: China data, earnings from Japan

— Christopher Noble, assistant managing editor.

Europe's debt plan offers no bazooka

Europe's latest effort to contain the euro zone's two-year-old debt crisis won applause from financial markets Thursday, but still falls short of a permanent solution, economists said. Economists fear the plan still lacks the heft and detail needed to ensure the debt crisis won't again surface to threaten major euro-zone economies, such as Italy, and the region's banking sector. Read about the European debt resolution plan on MarketWatch

Amazon falls on forecast; Street stays bullish

Investors sold shares of Amazon.com Inc. (AMZN) after the company reported disappointing earnings and gave a tepid forecast, due to heavy spending as the e-tailer continues to build out distribution centers. Read full coverage of Amazon results on MarketWatch

Our financial smarts erode quickly after age 60

It must be someone's idea of a joke. If so, it's a cruel one. Regardless of gender or education level, Americans become less literate about all things money after age 60, according to a new study. But worse, our confidence in our financial decision-making abilities rises with age. Read Bob Powell's commentary on MarketWatch

How not to seek dividend income

The so-called "Dogs of the Dow" may deserve their title.That's because their performance over the last 15 years has been disappointing at best. Unfortunately, the most popular dividend-stock strategy among retail investors is the Dogs of the Dow, which calls for buying and holding the 10 stocks from the 30 in the Dow Jones Industrial Average with the highest dividend yields as of each Jan. 1. Read Mark Hulbert commentary on avoiding the Dogs of the Dow

China's economy may face hard landing

Even as data Monday showed better-than-expected growth for China's manufacturing sector, many analysts are concerned about a a potential hard landing for the Chinese economy. Read analysis of China's current economy on MarketWatch

Mortgage-refi plan targets hard-hit borrowers

President Barack Obama on Monday unveiled a changed mortgage-refinancing plan that would allow homeowners who have suffered steep price declines on their properties to get cheaper loans. With house prices nationally roughly a third below their peak, there are millions of borrowers eligible to refinance into mortgages near record lows rather than the mere 894,000 borrowers who have used the program so far. Read about new homeowner assistance program on MarketWatch

How to fly high on Apple's tailwinds

Apple Inc. (AAPL) reported earnings last week that disappointed analysts thanks in large part to lackluster iPhone 4 sales. In reaction, the company's shares fell 5.6% the day after releasing results. So the stock must be a screaming buy, right? Well, not so fast. There's a better way to play the iPhone's game-changing success. Read coverage of Apple on MarketWatch

Netflix shares tumble as subscribers fall and costs rise

Netflix Inc. (NFLX) shares plunged to a new 18-month-low amid an avalanche of negative analyst comments following the video-rental provider's disappointing fourth-quarter outlook and its disclosure that international expansion would prevent profitability in the first half of 2012. Read MarketWatch's Netflix coverage

Ford slammed by Consumer Reports

Cue the old wisecrack acronyms about Ford Motor Co.'s (F) cars and trucks. Jeep, yeah Jeep, is the new domestic standard in reliability, according to a study published on Tuesday. Hampered by below-average showings from the new Explorer SUV as well as the Fiesta and Focus sedans, Ford dropped from 10th last year to 20th out of the 28 major car makers in the Consumer Reports 2011 Annual Auto Survey. Read MarketWatch coverage of Ford earnings

The pipeline that may change the oil world

A proposed pipeline stretching from Canada to the Gulf coast of the United States may contribute to a rise in the nation's prices for oil and has the potential to significantly change the landscape of the oil market. It's called the Keystone Gulf Expansion Pipeline Project, or Keystone XL, and a final decision on permit approval is expected by the end of the year. Read the Commodities Corner column that explains it all.

MarketWatch | Personal Finance Daily: Debit-card fees? Maybe not, banks say

MarketWatch
Personal Finance Daily
OCTOBER 28, 2011

Debit-card fees? Maybe not, banks say

By MarketWatch



Don't miss these top stories:

It's getting tough to keep up with the world of bank fees.

There was of course a big outcry when Bank of America Corp. (BAC) announced it would charge a $5 monthly fee for debit-card use. But today, a news report by Reuters suggests the bank is planning to scale back that plan. (You can read the Reuters report here.)

Maybe B. of A. is taking a cue from J.P. Morgan Chase & Co. (JPM), which said it would not proceed with its proposal to levy similar fees, after testing the idea for months. Read commentary on how Bank of America leads, but no one follows.

Meanwhile, my bank — Wells Fargo & Co. (WFC) — didn't exactly levy a new fee on my checking account, but it did recently tell customers that it was removing one means of waiving the monthly fee. Before, automatically transferring money from checking to savings worked to waive the monthly checking-account fee, but the bank decided to end that practice. (I won't owe a monthly fee because I have a number of other accounts linked to mine, but presumably a fair number of people now are facing a $15 monthly hit.)

It's a good reminder to check up on your bank costs. Certainly, all the fee news has prompted plenty of consumers to switch banks. Maybe it's time for you to assess whether you should do the same.

Read our piece about J.P. Morgan Chase's decision; plus, don't miss Jennifer Waters's Consumer Confidential on how to keep your heating costs down. That's news you can use given that heating costs are set to rise steeply this winter.

Also, did you take our financial literacy quiz yet? Click on this link to Bob Powell's column, and then scroll down to see the quiz.

Andrea Coombes , Personal Finance editor

7 tips to cut steep heating costs this winter

Home-heating costs are on the rise, so take action now to keep bills in check.
Read more: 7 tips to cut steep heating costs this winter.


Where to find help to avoid foreclosure

Looking to modify your mortgage to avoid a foreclosure? Here's a list of resources and programs aimed at helping borrowers who are having trouble paying their mortgages.
Read more: Where to find help to avoid foreclosure.


Try these unlikely places to boost your yield

For U.S. investors looking for dividend yield in the current low interest-rate environment, emerging-market stocks promise lucrative income but carry significant risks.
Read more: Try these unlikely places to boost your yield.


Gen Y will drive rents higher, seek smaller homes

Generation Y will change housing demand, and the strained finances of many Americans will lead to more multigenerational households, according to a new report from the Urban Land Institute.
Read more: Gen Y will drive rents higher, seek smaller homes.


Bank of America leads, but no one follows

Bank of America finds itself under tremendous pressure from customers upset with the company's plan for $5-a-month fees to use debit cards. Now, rivals are taking the opportunity to steal some of them away, writes David Weidner.
Read more: Bank of America leads, but no one follows.


ECONOMY & POLITICS

How post-recession recoveries compare

Decent third-quarter GDP growth of 2.5% belies just how tepid this post-recession recovery has been. See the charts.
See charts: How post-recession recoveries compare.


Consumer sentiment rises in October: survey

With improved views on the economy, consumer sentiment rose in October, reaching the highest level since July, while remaining at relatively low levels, according to data released Friday by the University of Michigan and Thomson Reuters.
Read more: Consumer sentiment rises in October.


Consumers spend more, save less in September

Spending growth outpaces wage growth, leaving consumers dipping deeper into their savings, U.S. data show.
Read more: Consumers spend more, save less in September.

White House orders review of Energy loans: The Washington Post | Politics Afternoon Edition

The Washington Post

Politics Afternoon Edition

HEADLINES

  1. White House orders review of Energy loans

    The announcement comes as House Republicans prepared for a possible vote to subpoena White House documents related to Solyndra
    » Read full article
  2. Obama fundraiser invested in firm that won loan

    Perseus says its affiliation with James A. Johnson, a major fundraiser for Obama, played no role in persuading the Energy Department to award the loan.
    » Read full article
  3. Michelle Obama's challenge: Stay popular while campaigning

    Michelle Obama is in a perfect position to help her husband's campaign, but she can't be seen as too political
    » Read full article
  4. The Fix: It's still Mitt v. Rick for the gold

    The sorting of the Republican field into contenders and pretenders has begun in earnest.
    » Read full article
  5. Poll: Hillary Clinton a better bet for Dems in 2012

    A new Time magazine poll showed that the secretary of state would trounce any of the top contenders in the GOP field.
    » Read full article

The Economist | Selected New Articles: Something to worry about over the weekend



Buttonwood's notebook: The great debate
What we really ought to be worrying about
read more »
Babbage: Difference Engine
Can HTML5 rescue today's overloaded websites from collapse? read more »
Newsbook: What the Arab papers say
How opinions on the fall of Qaddafi differ across the Middle East
read more »
Banyan: Sporting proud colours
Delhi welcomes the odd mixture of brashness and high-tech engineering that is Formula 1 motor racing
read more »
Daily chart: Currency wars
A videographic explores the expensive game of Old Maid being played by governments read more »
Online debate: Personal computing
Is the PC passé? read more »
 

NYT: Afternoon Business News: Summary Box: Metals End Higher on European Plan


Latest News At Time Of Presemt Posting

4:48 PM ET
Summary Box: Metals End Higher on European Plan
4:30 PM ET
DealBook's Week in Review
4:27 PM ET
Books Unbound

DealBook | Dealb%K Afternoon Edition: MF Global Securities Prices Plummet as Firm Races Toward a Sale



Friday, October 28, 2011
TOP STORY
MF Global Securities Prices Plummet as Firm Races Toward a Sale
MF Global Securities Prices Plummet as Firm Races Toward a Sale Shares and bonds of MF Global tumbled again on Friday as the embattled derivatives brokerage raced to line up a sale of some or all of itself as soon as this weekend.
  • DEALBOOK »
  • DEALBOOK HIGHLIGHTS
    Trick or Treat, Wall Street Style
    Trick or Treat, Wall Street Style This weekend, thousands of Americans will cobble together Halloween costumes with Wall Street themes. DealBook is here to help.
    Another View: A Simpler Rein Than the Volcker Rule Two corporate law professors argue that a better way to rein in risky trading by bankers is to hold top executives personally liable for losses if their banks fail.
    Goldman Adds a Board Member M. Michele Burns, the former chief executive of the human resource consulting firm Mercer, has been elected to Goldman's board.
    Executive Pay Rises 49% at British Companies Executives at Britain's biggest companies received an average pay increase of 49 percent this year, with compensation rising fast than companies' shares.
    Golden Gate Capital Closes $3.5 Billion Fund Golden Gate Capital, the West Coast private equity firm, has closed its latest fund at $3.5 billion, according to people briefed on the matter.
    BUZZ TRACKER
    Chinese Carmakers to Buy Saab Zhejiang Youngman Lotus Automobile and Pang Da Automobile Trade have agreed to pay €100 million, or $140 million, to acquire Saab Automobile, The New York Times's David Jolly reports. The deal apparently rescues the Swedish company hours before it faced court action that could have led to its liquidation.
    Disney in TV Deal in Russia The Walt Disney Company said it would acquire 49 percent of Seven TV in a deal to introduce a nationally broadcast version of the Disney Channel in Russia, The New York Times's Brooks Barnes reports.
    LOOKING AHEAD
    Corporate Earnings Companies reporting results on Monday include Allstate, Humana and Panasonic.
    In Europe Jean-Claude Trichet ends his term as head of the European Central Bank on Monday.

     

CBS News | Political Hotsheet Top Stories: Herman Cain: What you (probably) don't know

The CBS News Political Hotsheet newsletter


CBS POLITICAL HOTSHEET TOP STORIES



Six little-known facts about the surprisingly strong candidate, including his backing of Tiger Woods for president
Read full story
Herman Cain: What you (probably) don't know

Google glitch suggests A glitch in the Google search engine may reveal some conventional wisdom that Mitt Romney may not appreciate

Herman Cain becomes a familiar name, poll shows Nearly 80% of Republicans now recognize Herman Cain's name, making a gain of 28 points since September, Gallup says

Mitt Romney's New Hampshire getaway A look at the presidential contender's $10M lakeside vacation home and the surrounding town in the first primary state

Lawmaker: Oakland police overreacted to Democratic Rep. Barbara Lee, who represents Oakland, says police response to protests "a shame and a disgrace"

Stocks and Markets in the News: U.S. stocks end mostly higher: Dow up 3.6% on week: Market Pulse | Market Pulse


By Myra P. Saefong 

SAN FRANCISCO (MarketWatch) -- U.S. stocks finished mostly higher on Friday after moving between small gains and losses throughout the trading session. All three major benchmark indexes posted gains for the week, with the Dow Jones Industrial Average DJIA +0.19% scoring its fifth-straight weekly gain. The Dow climbed 22.56 points, or 0.2%, to end at 12,231.11 to log a third-straight winning session. The S&P 500 SPX +0.04% rose 0.5 point, or 0.04%, to end at 1,285.09 while the Nasdaq Composite COMP -0.05% slipped by 1.48 points, or 0.1%, to 2,737.15, with both indexes ending 3.8% higher for the week. "When Europe didn't implode and even came up with a 'plan' to fix its pervasive debt problems, that left the shorts with no room to hide," said Brian Greenberg, owner of wealth management firm Brian Greenberg & Associates. "Now we are approaching key technical levels," he said. "The coming week will be the battle to breach these levels so they can become floor and not the ceiling for this current move." 

CMI | New York Spot Prices at Close

CMI - Gold & Silver

Spot Prices as of the close of trading in New York
As of: Friday October 28, 2011

  Today Change Week Ago Month Ago Year Ago
Gold $1,747.15 -$0.60 $1,636.40 $1,619.00 $1,342.52
Silver $35.32 +$0.11 $31.23 $30.23 $23.91
Platinum $1,654.50 +$9.40 $1,512.00 $1,538.40 $1,693.00
Palladium $671.50 -$3.40 $620.10 $637.20 $631.00

BIV Business Today: 2010 Olympics added $2.3 billion to B.C.’s GDP: PwC

Business in Vancouver Today

2010 Olympics added $2.3 billion to B.C.’s GDP: PwC

Friday, 28 October 2011 08:16
Olympics snow sculptureConsultants at PwC Canada calculate Vancouver’s 2010 Winter Olympic Games boosted the province’s gross domestic product (GDP) by $2.3 billion, created 45,000 jobs and resulted in $1.1 billion worth of contracts for B.C.-based companies.
   

Northern Thunderbird Air service continues, despite crash

Friday, 28 October 2011 08:54
beechcraft airplaneRichmond-based Northern Thunderbird Air (NTA) is continuing air service as usual “for now,” the day after one of its planes crashed in Richmond, sending nine people to hospital, according to company staff.
   

Celebrity chef opens cheesesteak eatery

Friday, 28 October 2011 08:03
cheesesteakFood Network celebrity chef Anthony Sedlak and partner Andy Eng have spent about $1 million to open their first American Cheesesteak Co. restaurant on Davie Street in Vancouver October 23.
   

Victoria rejects calls to allow happy hours

Friday, 28 October 2011 08:14
Happy hour signSolicitor General Shirley Bond is rejecting requests from restaurateurs to end B.C.’s status as the only province that forbids restaurant and bar owners from changing their price for an alcoholic drink during the day.
   

B.C. companies join trade mission to India, China

Friday, 28 October 2011 08:58
canadian and chinese moneyMore than 120 B.C. companies are joining next week’s province-led trade mission to China and India, Premier Christy Clark has announced.
   

Ridley Terminals, Hillsborough sign service agreement

Friday, 28 October 2011 09:02
coal on trainsVancouver-based coal mining company Hillsborough Resources Ltd. has signed a long-term service agreement with Prince Rupert’s Ridley Terminals Inc. (RTI) for coal export until 2021.

CBS Money Watch: Worst States for Bank Fees


Check out the $50,000+ price tags at the priciest colleges in the United States. Plus: Latest College Admission Trends Read more »
New research shows huge state-by-state variations in account fees, requirements and more. Read more »
Months after the Japanese earthquake & tsunami, the automakers are still struggling to get back in the game. Plus: Hottest New Small Cars for 2012 Read more »
Avoid these money traps at all cost to make sure you retire on time. Plus: 5 Most Terrifying Money Moves Read more »
New survey suggests that unemployment will finally fall below the 9% level. Read more »
Find out how much cash and time you could easily save when you book your holiday travel plans - if you wield these tricks. Plus: 5 Ways to Save When Calling Home Read more »
Only about a quarter of eligible borrowers have taken advantage of a plan to cut payments. Read more »
These holiday gigs can put extra cash in your pocket in practically no time. Read more »
Problems with new technology send the automaker sliding in the latest reliability rankings. Read more »
 

Money Show Readers Daily Alert : Find Useful Signals in the COT Report

Traders Daily Alert

Tips for Traders
Find Useful Signals in the COT Report, Sam Evans

Options Idea
The Delta-Defined Apple Option Trade, Dan Passarelli

Charts in Play
Should Bond Fund Holders Jump Ship?, Tom Aspray

Currency Corner
10 Important Factors for Forex Rookies, Tom Cleveland

Trading Idea of the Day
A “Once-a-Decade” Platinum Trade, Andy Waldock

Daily Market Studies
Trading Outlook for Today: October 28, Daniel Gramza

MoneyShow.com Exclusive Interviews
Why Traders Should Ignore the News, Hubert Senters

Today's Featured Videos
Current and Pending Regulations Every Trader Should Know, Tony Battista, David Herron, and Terry Savage
Trading Hang-ups Even Pros Battle, Michael Toma

Financial and Forex Info News | Kitco London Fix Market Report,


London Fix Fri Oct 28 00:00:00 EDT 2011
Metals
Gold
Silver
Platinum
Palladium
  AM PM AM PM AM PM AM PM
USD 1735.00 1741.00   35.42 1645.00
1629.00
667.00 659.00
UK 1077.91 1081.30   21.99 1020.45
1011.80
413.75 409.30
EURO 1224.50 1230.04   25.01 1159.70
1151.25
470.20 465.70

Reuters - Deals Today. EMI, once the glamorous monarch of the British music industry, is about to be sold by Citigroup. ...


News
EMI, once the glamorous monarch of the British music industry, is about to be sold by Citigroup. Reuters lays out EMI’s future and who is likely to walk away with the company's recorded music and song catalog.

Despite all the rumored interest in Yahoo, progress on a deal has hit a brick wall mainly due to the company's lack of strategy and restrictive confidentiality agreement, people familiar with the situation said.
"Yahoo has been exploring a potentially tax-free way to dispose of its roughly 40% stake in the Chinese e-commerce company Alibaba, according to people familiar with the matter," reports WSJ.
Hewlett-Packard ditched a plan to spin off its personal computers unit, a month after the ouster of CEO Leo Apotheker whose idea would have cost billions of dollars in expenses and lost business.
"HP has been a comedy of errors, and selling a third of their revenue right now is probably not sound,” analyst Brian Marshall told Bloomberg.
Is Groupon a buy at a $10 billion market cap? Felix Salmon finds justification for the price, "if the business goes according to plan."
LATEST NEWS
Sweden's Saab heads for Chinese owners after rescue offer
STOCKHOLM (Reuters) - Struggling Saab is set to follow in fellow Swedish car maker Volvo's footsteps, heading for Chinese ownership under a planned 100 million euro ($141.4 million) purchase by Pang Da Automobile Trade Co and Zhejiang Youngman Lotus Automobile Co. | Full Article

Fiat share plan seen easing route to Chrysler merger
October 28, 2011 07:43 AM ET
MILAN (Reuters) - A plan by Fiat Spa to convert preference and savings shares into ordinary shares will reduce the cost of equity and remove a potential hurdle to a merger with Chrysler, which is now majority owned by the Italian carmaker. | Full Article
EDF, Italian investors hammer out Edison deal: sources
October 28, 2011 06:41 AM ET
PARIS/MILAN (Reuters) - French electricity giant EDF and a group of Italian investors have taken a big step forward toward reaching a deal over control of utility group Edison after months of fruitless negotiations, three sources told Reuters on Friday. | Full Article
HP ditches costly PC unit spin-off
October 27, 2011 07:48 PM ET
SAN FRANCISCO (Reuters) - Hewlett-Packard Co ditched a plan to spin off its personal computers unit, a month after the ouster of CEO Leo Apotheker whose idea would have cost billions of dollars in expenses and lost business. | Full Article
CEO Abbott brings London Metal Exchange to brink of sale
October 28, 2011 08:39 AM ET
LONDON (Reuters) - Martin Abbott's appointment five years ago as chief executive at the London Metal Exchange (LME) raised a few eyebrows. | Full Article

Morning Market Briefing

Commentary October 28, 2011
After showing a substantial upward move in the previous session, stocks are likely to give back some ground in early trading on Friday. The major index futures are currently pointing to a moderately lower open, with the Dow futures down by 54 points. (Oct 28, 2011) Full Article
Economic News
South Korea posted a current account surplus of $3.1 billion in September, the Bank of Korea said on Friday in a preliminary reading - remaining in the black for the 19th consecutive month. (Oct 28, 2011) Full Article
Industrial production in Japan was down a seasonally adjusted 4.0 percent on month in September, the Ministry of Economy, Trade and Industry said on Friday in a preliminary reading - falling for the first time in six months while continuing to reflect the results of the devastating earthquake and tsunami on March 11. (Oct 28, 2011) Full Article
Confidence among British consumers fell unexpectedly in October, to reach its lowest level since February 2009, with their outlook about the general economic situation becoming increasingly pessimistic, results of a key survey showed Friday. (Oct 28, 2011) Full Article
Thailand's central bank on Friday slashed its growth projections for this year, saying the widespread floods are seriously disrupting agricultural production as well as manufacturing activity. (Oct 28, 2011) Full Article
Reversing a drop in August, U.S. personal incomes rebounded slightly in September, while consumer spending picked up by more than expected, according to figures released Friday by the Commerce Department. (Oct 28, 2011) Full Article
Earnings News
Advanced Micro Devices Inc. (AMD) Thursday posted a third-quarter profit, reflecting the impact of a large equity loss in the prior-year results. Both adjusted earnings and revenues exceeded the market view. (Oct 28, 2011) Full Article
Electronic Arts Inc. (ERTS) Thursday posted a wider third-quarter loss with higher operating expenses eroding the revenues growth. Adjusted earnings, however, surprised, with the Street expecting a loss. The company also issued its third-quarter guidance and lifted its fiscal 2012 financial outlook. (Oct 28, 2011) Full Article
Las Vegas Sands Corp. (LVS) posted Thursday a more-than-double third-quarter profit compared to the prior year, on the back of “strong” performance from the US, Singapore and Macau properties. Both adjusted earnings and revenues beat analysts' estimates. (Oct 28, 2011) Full Article
KLA-Tencor Corp. (KLAC) announced Thursday a higher first-quarter profit thanks primarily to an increase in product revenues. Adjusted earnings were on par with the Street view, but revenues topped. (Oct 28, 2011) Full Article
Metlife Inc. (MET) said Thursday third-quarter profit went up sharply year-over-year due to a turnaround to derivative gains from last year's derivative losses and also contributions from the acquisition of Alico. (Oct 28, 2011) Full Article
Gilead Sciences Inc. (GILD) Thursday announced a rise in third-quarter profit as a result of a 9 percent rise in antiviral product sales. Both adjusted earnings and revenues exceeded Street expectations. (Oct 28, 2011) Full Article
China-based Baidu Inc. (BIDU) Thursday reported a surge in third-quarter profit as “rapid” rise in customer spending and user traffic propelled the sharp increase in revenues. The company also issued its fourth-quarter revenues guidance. (Oct 28, 2011) Full Article
France-based Total SA (TOT, TTA.L) Friday announced a rise in third-quarter profit as a result of improvements in its refining and upstream businesses and also higher oil prices. (Oct 28, 2011) Full Article
WPP Group plc (WPP.L, WPPGY) said Friday third-quarter revenues went up 9 percent year-over-year, helped by a 4.7 percent like-for-like growth. (Oct 28, 2011) Full Article
Whirlpool Corp. (WHR) Friday reported a sharp increase in third-quarter profit thanks primarily to a hefty tax benefit. Adjusted earnings, however, were impacted by “weaker” global demand and higher material costs and fell short of the market view. The company also lowered its full-year earnings outlook and announced cost and capacity reduction plans that see it trimming more than 5 thousand jobs. (Oct 28, 2011) Full Article
Cigna Corp. (CI) posted Friday a drop in third-quarter profit reflecting the steeper effect of its run-off reinsurance operations.Revenues went up year-over-year on premium and fee increases. (Oct 28, 2011) Full Article
Newell Rubbermaid Inc. (NWL) Friday reported a third-quarter loss on the back of higher one-time charges. Normalized earnings went up year-over-year and topped analysts' estimates. The company also reaffirmed its full-year normalized earnings forecast. (Oct 28, 2011) Full Article
Merck & Co. Inc. (MRK) Friday announced a hefty growth in third-quarter profit reflecting sharply lower operating and other expenses. Both adjusted earnings and revenues surpassed the market view. The company also raised its full-year earnings outlook. (Oct 28, 2011) Full Article
Biogen Idec Inc. (BIIB) said Friday third-quarter profit went up year-over-year thanks to a 28 percent growth in sales of its multiple sclerosis therapy Tysabri. Both adjusted earnings and revenues exceeded Street expectations. The company also backed its 2011 earnings and adjusted earnings outlook. (Oct 28, 2011) Full Article
Chevron Corp. (CVX) announced Friday third-quarter profit more than doubled from last year, thanks to higher crude oil and refined products prices pushing the revenues growth. Earnings beat analysts' estimates, but sales and other operating revenues fell short. (Oct 28, 2011) Full Article
Cablevision Systems Corp. (CVC) reported Friday a sharp slide in third-quarter profit reflecting a hefty net loss from investments this year and a large gain from discontinued operations last year. (Oct 28, 2011) Full Article
Corporate News
Hewlett-Packard Co. (HPQ) reported Thursday the completion of its strategic review, first announced in August, following which the company decided against a spin-off of its Personal Systems Group. (Oct 28, 2011) Full Article
Todays WS Events
Chevron Q3 11 Earnings Conference Call At 11:00 AM ET
Chevron Corp. (CVX) will host a conference call at 11:00 AM ET on October 28, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.chevron.com To hear the call, dial 703-639-1116 or 866-219-5256 with Conference ID # 1552897. (Oct 28, 2011) 
DTE Energy Q3 11 Earnings Conference Call At 9:00 AM ET
DTE Energy (DTE) will host a conference call at 9:00 AM ET on October 28, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.dteenergy.com/investors To hear the live call, dial (877) 723-9509 (US) or (719) 325-4750 (International) with passcode 6196954. (Oct 28, 2011)
Eastman Chemical Q3 11 Earnings Conference Call At 8:00 AM ET
Eastman Chemical Co. (EMN) will host a conference call at 8:00 AM ET on October 28, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.investors.eastman.com To hear the live call, dial 913-312-0845 with passcode 7815514. A replay of the call can be heard by dialing 888-203-1112 or 719-457-0820 with passcode 7815514. (Oct 28, 2011) 
Goodyear Tire & Rubber Q3 11 Earnings Conference Call At 9:00 AM ET
Goodyear Tire & Rubber (GT) will host a conference call at 9:00 AM ET on October 28, 2011, to discuss its Q3 11 earnings results. To access the webcast, log on at http://investor.goodyear.com A call can be accessed by dialing (706) 643-2869. For replay a call, dial (404) 537-3406 with the Conference ID 19705274. (Oct 28, 2011) 
Leggett & Platt Q3 11 Earnings Conference Call At 9:00 AM ET
Leggett & Platt Inc. (LEG) will host a conference call at 9:00 AM ET on October 28, 2011, to discuss Q3 11 earnings results. To access the webcast, log on to www.leggett.com (Oct 28, 2011) 
Merck Q3 11 Earnings Conference Call At 8:00 AM ET
Merck & Co Inc. (MRK) will host a conference call at 8:00 AM ET on October 28, 2011 to discuss its Q3 11 earnings results. To access the live audio webcast, log on at www.merck.com/investors/events-and-presentations/home.html (Oct 28, 2011) 
MetLife Q3 11 Earnings Conference Call At 8:00 AM ET
MetLife, Inc. (MET) will host a conference call at 8:00 AM ET on October 28, 2011 to discuss its Q3 11 earnings results. To listen to the webcast, log on at www.metlife.com To hear the live call, dial (612) 326-1011. A replay of the call can be heard by dialing (320) 365-3844 with passcode 169216. (Oct 28, 2011) 
Newmont Mining Q3 11 Earnings Conference Call At 10:00 AM ET
Newmont Mining Corp. (NEM) will host a conference call at 10:00 AM ET on October 28, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.newmont.com To hear the live call, dial 888.566.1822 (US) or 312.470.7116 (International) with passcode "Newmont". A replay of the call can be heard by dialing 866.514.3171 (US) or 203.369.2004 (International) with passcode 2011. (Oct 28, 2011) 
Rockwell Collins Q4 11 Earnings Conference Call At 9:00 AM ET
Rockwell Collins (COL) will host a conference call at 9:00 AM ET on October 28, 2011, to discuss Q4 11 earnings results. To access the live webcast, log on to www.rockwellcollins.com (Oct 28, 2011) 
Weyerhaeuser Q3 11 Earnings Conference Call At 10:00 AM ET
Weyerhaeuser Co (WY) will host a conference call at 10:00 AM ET on October 28, 2011, to discuss Q3 11 earnings results. To access the live webcast, log on to http://investor.weyerhaeuser.com To listen to the call, dial (877)-296-9413 (US) or 1-(706)-679-2458 (International) with access code 29869197. For a replay call, dial (800)-642-1687 (US) or 1-(706)-645-9291 (International) with access code 29869197. (Oct 28, 2011) 
Whirlpool Q3 11 Earnings Conference Call At 10:00 AM ET
Whirlpool Corp. (WHR) will host a conference call at 10:00 AM ET on October 28, 2011 to discuss its Q3 11 earnings results. To access the live webcast, log on at www.whirlpoolcorp.com To hear the live call, dial (888) 747-4632 (US) or (913) 312-1510 (International) with confirmation code 7191430. (Oct 28, 2011)