Monday Morning Coffee with TradingMarkets
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Good Morning! |
BoA Profit Plunges 77%… Merck’s Income Surges 94%… Eli Lilly Earnings Double… Halliburton’s Income Rises… National City Nears $6B Cash Infusion… Mattel Swings to Loss… BoE Unveils Plan to Revive Bank Lending.
Asian stocks up… European stocks down… Dollar mixed… And the futures are pointing to a lower open.
Would you like to improve your trading? TradingMarkets would like to invite you to a private 30-minute conference call with TradingMarkets CEO and Founder Larry Connors on Tuesday April 22, 2008 at 4:30 pm ET.
Larry will discuss the upcoming new TradingMarkets Swing Trading College (STC). STC is a 14-session, online course which will provide you with the latest trading research and strategies to professionally swing trade stocks, options, ETFs, and E-minis and futures. Click here to sign-up.
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TradingMarkets 5 Business Stories You Need to Know |
Bank of America’s Net Drops 77% – Wall Street Journal
Bank of America said its first-quarter earnings sank 77% as turmoil in the capital markets weighed on the firm’s results.
Merck First-Quarter Net Rises – MarketWatch
Merck said Monday that its first-quarter net income surged 94% to $3.3 billion, or $1.52 a share, from $1.7 billion, or 78 cents a share, a year earlier.
Bank of England Swaps Bonds to Revive Bank Lending – Bloomberg
The Bank of England offered to swap government bonds for mortgage securities to kick-start bank lending, with Governor Mervyn King pledging to meet demand even if it exceeds an estimate of 50 billion pounds ($100 billion.)
World Is Their Oyster – Portfolio.com
Earnings reports from I.B.M., Google, and General Electric have shown that the world economy, particularly in Asian and emerging markets, is still churning ahead–even as the U.S. economy is slowing down.
Clearing the Fog – Economist.com
Credit derivatives continue to boom, but the old order is under threat.
For more stories as they happen, go to our Breaking News section.
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TradingMarkets 7 Stocks You Need to Know for Today |
Here are 7 stocks for traders for today from TradingMarkets.com:
- Shares of Google
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PowerRating) soared 20%, leading a broad-based market rally, after the Internet bellwether beat estimates by $0.32. - Citigroup
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PowerRating) reported a $5.1 billion net loss, missing estimates by $0.07, after the banking giant was forced to write-down a further $13.9 billion. - Caterpillar
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PowerRating) beat estimates by $0.12 and reaffirmed its full year 2008 earnings guidance of 5% to 10% revenue growth. - Before the market open on Monday, pharmaceutical giant Merck
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PowerRating) beat estimates by $0.03 and reaffirmed guidance. - Eli Lilly
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PowerRating) missed estimates by $0.04 but issued guidance in-line. - Halliburton
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PowerRating) beat estimates by $0.02. - And finally, Bank of America
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PowerRating) missed earnings estimates by $0.18 per share.
For a list of today’s highest PowerRating stocks, click here.
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TradingMarkets 5 PowerRatings Stocks for Today |
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Company
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Symbol | PowerRatings |
| Yucheng Technologies | YTEC | 8 |
| Telefonos de Mexico | TMX | 8 |
| Cheniere Energy | LNG | 8 |
| Palomar Medical Technologies | PMTI | 8 |
| Atlas Energy Resources | ATN | 8 |
| View More Stocks |
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TradingMarkets Tracking the Wizards |
CNBC’s Fast Money Man: Pete Najarian on Options – TradingMarkets
In the Big Saturday Interview with Pete Najarian, we learn about how he came to be an options trader, which options strategies he prefers to use and why, and much more…
Forex Trader Top 3: Cost of Oil, Plummeting Euro, German Inflation – TradingMarkets
Oil continues to soar higher, the Euro flops, and the German economy inflates like 99 red balloons.
Free Report! The Only 3 Options Trading Strategies You’ll Ever Need – TradingMarkets
There may be as many ways to trade the market as there are traders who want to do so. But the difference between the professionals and the amateurs when it comes to trading is that the majority of professional traders know that the edge lies in buying markets when they are weak and selling them when they are strong.
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