Lots of Earnings 15 July 2009

Wed, 15 Jul 2009 11:16:31 +0000

Goldman Sachs (GS) higher than expected profits (though mostly trading profits which will not be repeated by other banks), Intel (IITC) predicted a better second half, and Johnson and Johnson (JNJ) good results raised Asia overnight. So Asia has had two up days.

Hang Seng (Hong Kong): +2.09%

Australia: +3.41%

Nikkei 225 (Japan): +0.88%

Europe at mid-day:

FTSE 100 (UK): +1.58% at 11:15 AM

DAX (Germany): +1.77% at 12:15 PM

CAC 40 (France): +1.88% at 12:15 PM

Europe up nicely, perhaps on news of 14 month high in new car registrations.

SPY after hours: 1.0% at 6:21 AM

QQQQ after hours: 1.7%

Economic Indicators: June Consumer Price Index (CPI) comes out at 8:29 AM EST. CPI is half of a percent lower than last year.

The Empire Manufacturing report for June comes out at 8:29 AM too. It shows manufacturing in New York State and is expected to decline.

Industrial production is expected to show a June drop of 0.6% after Mya’s drop of 1.1% when announced at 9:14 AM EST. Capacity utilization is also expected to decline to 67.9% from 68.3%.

9:00 AM Abbott Labs (ABT), drug company, has Q2 earnings call.

9:15 AM Yum! Brands, Inc. (YUM), fast food restaurants, has Q2 earnings conference call.

10:00 AM Gannett (GCI), newspaper publisher, has Q2 earnings call.

11:50 AM Best Buy Co., Inc. (BBY), electronics retailer has a webcast from the Oppenheimer & Co. Consumer, Gaming, Lodging & Leisure Conference.

1:30 PM KLA-Tencor (KLAC), designs and manufactures equipment for the semiconductor industry, briefs analysts.

Trade Naked » Yum Brands Inc

Lots of Earnings 15 July 2009