Analyst news

• IBM reports better-than-expected Q4 results; forecast beats

  19-01-2017 22:51 via rocketnews.com
  
  (Reuters) – International Business Machines Corp forecast full-year earnings above Wall Street estimates and reported better-than-expected quarterly revenue, helped by growth in newer areas such as cloud-based services and analytics.
  IBM’s shares were up 2.9 percent at $171.64 in after-hours trading on Thursday.
  The Armonk, New York-based company forecast adjusted earnings of at least $13.80 per share for fiscal 2017, beating the average analyst estimate of $13.74, according to Thom
  
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• Wall Street falls as investors ready for Trump's inauguration

  19-01-2017 22:46 via news.yahoo.com
  
  U.S. stocks fell on Thursday, continuing to pull back from the post-election rally, on investor caution ahead of Donald Trump's inauguration as president on Friday. The S&P 500 is up 5.8 percent since the vote. The rally in stocks since Trump's election has slowed in recent weeks as investors look for more details on his policies.
  
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• IBM reports better-than-expected fourth-quarter results; forecast beats

  19-01-2017 22:35 via news.yahoo.com
  
  (Reuters) - International Business Machines Corp forecast full-year earnings above Wall Street estimates and reported better-than-expected quarterly revenue, helped by growth in newer areas such as cloud-based services and analytics. IBM's shares were up 2.9 percent at $171.64 in after-hours trading on Thursday. The Armonk, New York-based company forecast adjusted earnings of at least $13.80 per share for fiscal 2017, beating the average analyst estimate of $13.74, according to Thomson Reuters I
  
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• Uber to pay $20 million to settle U.S. allegations it misled drivers about earnings

  19-01-2017 22:29 via news.yahoo.com
  
  WASHINGTON (Reuters) - The ride-hailing company Uber Technologies Inc [UBER.UL] has agreed to pay $20 million to settle allegations that it exaggerated prospective earnings in seeking to recruit drivers, according to documents filed with a U.S. federal court on Thursday.
  
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• Wall Street falls ahead of inauguration

  19-01-2017 22:06 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks fell on Thursday, led by declines in utilities and energy shares, with investors cautious ahead of Donald Trump's inauguration on Friday.
  
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• U.S. Treasury nominee Mnuchin hammered over offshore tax havens

  19-01-2017 21:23 via news.yahoo.com
  
  By David Lawder WASHINGTON (Reuters) - U.S. Treasury Secretary nominee Steven Mnuchin said on Thursday he would work to eliminate the need for offshore tax havens, as Democratic senators accused the Wall Street veteran of using such vehicles to shelter hedge fund money from the government. In a confirmation hearing before the Senate Finance Committee, President-elect Donald Trump's pick to lead the Treasury was attacked for failing to promptly disclose he was a director of an offshore business v
  
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• USD/CAD Technical Analysis: BoC Bounce Faces Critical Test

  19-01-2017 21:00
  The Canadian Dollar has aggressively weakened following Poloz’s jawboning efforts. A key Fib level will be watched to see if the market will buy what the BoC is trying to sell.
  
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• Bad loans, other costs hobble Q4 earnings for Saudi banks

  19-01-2017 20:21 via news.yahoo.com
  
  Rising bad loans dragged down the fourth-quarter results of several Saudi Arabian banks on Thursday, underlining the tougher conditions lenders in the Arab World's largest economy face after lower oil ...
  
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• Mnuchin not in favor of cutting federal ties with Fannie, Freddie

  19-01-2017 20:17 via news.yahoo.com
  
  President-elect Donald Trump's pick for U.S. Treasury Secretary, Steve Mnuchin, on Thursday told a Senate panel he does not believe in severing federal ties with and privatizing mortgage giants Fannie Mae [FNMA.PK] and Freddie Mac [FMCC.PK]. Mnuchin, a Wall Street veteran, said at his confirmation hearing before the Senate Finance Committee that he does not support the idea of "recap and release," where the government-sponsored enterprises would stop paying the Treasury and use their profits to
  
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• Dollar, bond yields up on strong U.S. data; Wall Street dips

  19-01-2017 20:14 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - The dollar and U.S. Treasury yields gained on Thursday after a batch of solid U.S. economic data, while U.S. shares slipped as investors remained cautious ahead of the inauguration of President-elect Donald Trump on Friday. Oil futures rallied from one-week lows after the International Energy Agency said crude markets were tightening. The S&P 500's energy index, however, traded lower.
  
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• USD/CAD Rebound Susceptible to Jump in Canada CPI

  19-01-2017 19:34
  The rally is now eyeing initial resistance targets ahead of tomorrow's inflation print. Here are the updated targets & invalidation levels that matter into the release.
  
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• USD/JPY Technical Analysis: All About The Yields

  19-01-2017 19:15
  The recent push higher in US yields helped to simultaneously lift USD/JPY, which was testing trend support. Now the markets are awaiting follow through.
  
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• China’s Market News: FX Regulator Comments on Foreign Reserves, Yuan

  19-01-2017 19:15
  Chinese banks’ sale of foreign exchange continued to rise in December, hinting increasing pressure on foreign reserves.
  
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• UPDATE 1-LVMH to take up to 10 pct of Italy's eyewear firm Marcolin - source

  19-01-2017 19:06
  
  MILAN, Jan 19 (Reuters) - French luxury goods group LVMH
  is set to take a stake of up to 10 percent in unlisted
  Italian glasses-maker Marcolin as it seeks to increase control
  over eyewear...
  
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• Treasury nominee Mnuchin says long-term dollar strength important

  19-01-2017 18:59 via news.yahoo.com
  
  U.S. Treasury Secretary nominee Steven Mnuchin said on Thursday it was important to maintain a strong dollar in the long term, adding that President-elect Donald Trump's recent comments that the currency was too strong were focused on short-term impacts. "When the president-elect made a comment on the U.S. currency, it wasn't meant to be a long-term comment," Mnuchin said in a confirmation hearing before the Senate Finance Committee. Mnuchin, a Wall Street veteran, added that Trump's comments th
  
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• Wall Street dips as investors ready for Trump's inauguration

  19-01-2017 18:57 via news.yahoo.com
  
  U.S. stocks fell on Thursday, with the Dow on track to mark its fifth day of losses as investors stayed away from making risky bets ahead of Donald Trump's swearing-in as president on Friday. The markets are also digesting a clutch of information including the European Central Bank's decision to maintain its monetary policy, while awaiting a speech by Federal Reserve Chair Janet Yellen. After hitting a series of record highs in a post-election rally, Wall Street has been trading in a tight range
  
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• USD/JPY Eyes 2017 Opening Range as Bets for June Rate Hike Hold

  19-01-2017 18:20
  USD/JPY may continue to retrace the decline from the beginning of the year following the failed run at the Fibonacci overlap around 112.40 to 112.50.
  
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• Dollar, bond yields up on strong U.S. data; Wall Street slips

  19-01-2017 18:07 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - The dollar rose against the euro on Thursday after comments from the European Central Bank chief, while U.S. Treasury yields gained on a batch of solid U.S. economic data. Trading in European equities and the euro was choppy after ECB President Mario Draghi reaffirmed interest rates would stay at current or lower levels for an extended period and that the central bank was ready to increase or extend bond purchases if the outlook worsens. U.S. shares slipped a
  
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• Wall Street slips as countdown to Trump's swearing-in begins

  19-01-2017 17:49 via news.yahoo.com
  
  U.S. stocks edged lower on Thursday as investors appeared wary of taking on too much risk ahead of Donald Trump's swearing-in as president on Friday. The markets are also digesting a clutch of information including the European Central Bank's decision to maintain its monetary policy, while awaiting a speech by Federal Reserve Chair Janet Yellen. After hitting a series of record highs in a post-election rally, Wall Street has been trading in a tight range as investors look for more details on Tru
  
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• Wall St. slips as countdown to Trump's swearing-in begins

  19-01-2017 17:38 via news.yahoo.com
  
  The markets are also digesting a clutch of information including the European Central Bank's decision to maintain its monetary policy, while awaiting a speech by Federal Reserve Chair Janet Yellen. After hitting a series of record highs in a post-election rally, Wall Street has been trading in a tight range as investors look for more details on Trump's policies. "We may give Trump the benefit of doubt in the first hundred days but unless we see some legislation being passed through Congress, thi
  
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• U.S. Treasury nominee Mnuchin denies exploiting homeowners after crash

  19-01-2017 17:26 via news.yahoo.com
  
  By David Lawder WASHINGTON (Reuters) - President-elect Donald Trump's choice to head the U.S. Treasury, Steven Mnuchin, denied on Thursday that a bank he owned had profited at the expense of vulnerable homeowners in the aftermath of the 2007-2009 housing crash. In prepared testimony for his confirmation hearing before the Senate Finance Committee, the Wall Street veteran said accusations his OneWest Bank had operated as a "foreclosure machine" were untrue and politically motivated. "Since I was
  
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• GBP/JPY Technical Analysis: ¥142.50 to Mark Retracement Completion

  19-01-2017 17:10
  The rollercaoster that's been GBP/JPY price action appears to be back on the incline. But traders not yet long will likely want bullish confirmation before proceeding further.
  
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• Price Action in USD is Aligning for Bullish Continuation

  19-01-2017 16:08
  After a major rip to end last year the U.S. Dollar has spent the majority of 2017 in a process of retracement. But after yesteday's comments from Chair Yellen, short-term price action is attempting to align with the longer-term bullish trend.
  
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• Wall Street flat as countdown to Trump's swearing-in begins

  19-01-2017 15:52 via news.yahoo.com
  
  U.S. stocks were flat on Thursday, with investors seemingly wary of taking on risk ahead of Donald Trump's swearing-in as U.S. president on Friday. After having driven Wall Street to record highs in a post-election rally, investors are on the sidelines as they await Trump's inaugural speech to get a steer on his policies. Markets are also eyeing a speech by Federal Reserve Chair Janet Yellen.
  
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• Wall Street opens flat a day before Trump takes office

  19-01-2017 15:34 via rocketnews.com
  
  By Yashaswini Swamynathan
  REUTERS – Wall Street looked set to open slightly lower on Thursday, with investors seemingly wary of taking on risk ahead of Donald Trump’s swearing-in as U.S. president on Friday.
  After having driven Wall Street to record highs in a post-election rally, investors are on the sidelines as they await Trump’s inaugural speech to get a steer on his policies.
  Markets are also eyeing a speech by Federal Reserve Chair Janet Yellen.
  The Dow Jones Industrial
  
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• MIDEAST STOCKS-Egypt tumbles on stamp duty worry, Q4 earnings support Saudi

  19-01-2017 15:23 via news.yahoo.com
  
  * Sources say Egypt may introduce stamp duty * Saudi's top two banks gain on strong Q4 * SABIC slips as Q4 net profit at lower end of forecasts * Zain jumps on narrower loss, Mobily down on loss * Mouwasat Medical falls despite earnings beat * Kuwait strong as liquidity builds By Celine Aswad DUBAI, Jan 19 (Reuters) - Egypt's blue-chip stock index tumbled on Thursday after Reuters reported that authorities were considering temporarily reintroducing a stamp duty on stock market transactions, whil
  
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• Dovish ECB Drags on EUR/USD- Draghi Warns Inflation Remains Subdued

  19-01-2017 15:07
  Mario Draghi stresses that underlying inflationary pressures in the European region remain subdued and that there is no convincing evidence of an upward trend in consumer prices
  
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• Top Goldman‎ executive to retire from Wall Street bank

  19-01-2017 15:05 via news.yahoo.com
  
  The Goldman Sachs (Xetra: 920332 - news) executive co-ordinating its plans to deal with the UK's departure from the European Union is to retire after a 28-year career with the Wall Street bank. Sky News has obtained a memo circulated within Goldman on Thursday announcing that Michelle Pinggera is to step down at the end of March. Goldman was one of the largest donors to the campaign to stay in the EU, writing a £500,000 cheque last year to Britain Stronger in Europe.
  
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• CAC 40 Little Changed on ECB News

  19-01-2017 14:45
  The CAC 40 trades in a range as the ECB releases today’s rate decision.
  
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• Union Pacific beats Street 4Q forecasts

  19-01-2017 14:20 via news.yahoo.com
  
  Union Pacific Corp. (UNP) on Thursday reported fourth-quarter profit of $1.14 billion. The Omaha, Nebraska-based company said it had profit of $1.39 per share. The results surpassed Wall Street expectations. ...
  
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• Top Goldman executive overseeing Brexit plan to retire from bank

  19-01-2017 14:18 via news.yahoo.com
  
  The Goldman Sachs (Xetra: 920332 - news) executive co-ordinating its plans to deal with the UK's departure from the European Union is to retire after a 28-year career with the Wall Street bank. Sky News has obtained a memo circulated within Goldman on Thursday announcing that Michelle Pinggera is to step down at the end of March. Goldman was one of the largest donors to the campaign to stay in the EU, writing a £500,000 cheque last year to Britain Stronger in Europe.
  
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• UPDATE 6-Toshiba woes intensify on reports of $6 bln writedown, shares plummet

  19-01-2017 14:04
  
  * Loss could be much bigger than earlier flagged - media
  reports
  
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• Futures flat as countdown to Trump's inauguration begins

  19-01-2017 13:25 via news.yahoo.com
  
  * Markets are also eyeing a raft of economic data and a speech by Federal Reserve Chair Janet Yellen. * After having driven Wall Street to record highs in a post-election rally, investors are on the sidelines as they wait for Trump's inaugural speech to get a better understanding of his policies. * With the fourth-quarter earnings season picking up pace, investors will be focusing on key companies including Dow components IBM and American Express , which are scheduled to report results after mar
  
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• S&P 500: Patiently Awaiting Make or Break Event

  19-01-2017 13:16
  The market is chopping around, with a bullish formation still on the board; but will need to wait for strong break one way or the other before taking action.
  
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• Preview for ECB Rate Decision and Outlook for EUR-crosses

  19-01-2017 13:10
  ECB President Draghi's press conference will be more important than that rate decision announcement itself.
  
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• Brexit Briefing: British Pound Regains its Poise as UK PM Speaks at Davos

  19-01-2017 13:00
  UK Prime Minister Theresa May’s Brexit speech at the World Economic Forum underpins Sterling as long-term UK house price sentiment improves.
  
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• EXCLUSIVE-Egypt considering temporary stamp duty on stock market deals -sources

  19-01-2017 12:32 via news.yahoo.com
  
  (Adds official finance ministry comment) CAIRO, Jan 19 (Reuters) - Egypt is considering temporarily reintroducing a stamp duty on stock market transactions after the tax was frozen in 2014, two finance ministry sources told Reuters on Thursday. The comments come a day after the International Monetary Fund released the details of its $12 billion, three-year agreement to support a wide-ranging programme to reform Egypt's ailing economy and restore financial stability. The agreement revealed that E
  
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• BlackRock owns 5 pct of Toshiba, likely becoming top shareholder

  19-01-2017 12:29
  
  TOKYO, Jan 19 (Reuters) - BlackRock Inc has a stake
  in Toshiba Corp of 5.01 percent, according to a
  Japanese government filing, likely becoming the struggling
  firm's top shareholder.
  
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• UPDATE 3-Takata bidders plan court-led turnaround for Japan business - source

  19-01-2017 12:17
  
  * Takata has said wants private process for global
  operations
  
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• Safran says Zodiac profitability is far from satisfactory

  19-01-2017 11:38
  
  PARIS, Jan 19 (Reuters) - The chief executive of France's
  Safran said the profitability of Zodiac Aerospace
  was "far from satisfactory" for now, as he outlined
  the benefits of a two-part friendly...
  
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• NZD/USD Technical Analysis: Downturn Confirmation Sought

  19-01-2017 10:53
  The New Zealand Dollar put in a bearish Dark Cloud Cover candlestick pattern below familiar resistance above the 0.72 figure, hinting a downward reversal may be ahead.
  
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• Safran/Zodiac deal to strengthen French aerospace sector -Hollande

  19-01-2017 10:44
  
  PARIS, Jan 19 (Reuters) - French President Francois Hollande
  said on Thursday that aircraft engine maker Safran'sbid for jet interiors supplier Zodiac would strengthen
  the country's aerospace...
  
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• FTSE 100: Hammering off the Highs to Continue

  19-01-2017 10:27
  The UK index took a hard hit off resistance on May, GBP rallying; looking for old highs to be tested soon.
  
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• AUD/USD Technical Analysis: Long-Term Down Trend Resuming?

  19-01-2017 10:14
  The Australian Dollar put in a bearish Dark Cloud Cover candlestick pattern, hinting prices may be readying to turn lower after finding resistance below the 0.76 mark.
  
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• Trump's Treasury pick facing criticism over foreclosures

  19-01-2017 09:56 via news.yahoo.com
  
  Donald Trump's pick to lead the Treasury Department, Stephen Mnuchin, built his reputation and his fortune as a savvy Wall Street investor. But one of those investments has put him in the crosshairs of ...
  
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• EUR/USD Technical Analysis: Euro Reveals Signs of Topping

  19-01-2017 09:52
  The Euro turned sharply lower against the US Dollar, with prices putting in a bearish Dark Cloud Cover candlestick pattern to hint that a top may be taking shape.
  
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• UPDATE 2-BHP, Vale, Samarco set June 30 deadline to resolve multi-billion dollar claims

  19-01-2017 09:24
  
  * Aim is to consolidate and settle separate claims
  -companies
  
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• Egypt considering temporary stamp duty on stock market deals - sources

  19-01-2017 09:22 via news.yahoo.com
  
  Egypt is considering temporarily reintroducing a stamp duty on stock market transactions after the tax was frozen in 2014, two finance ministry sources told Reuters on Thursday. The comments come a day after the International Monetary Fund released the details of its $12 billion, three-year agreement to support a wide-ranging programme to reform Egypt's ailing economy and restore financial stability. The agreement revealed that Egypt had committed to imposing either a capital gains tax or a stam
  
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• South Africa growth ticking up, Mexico slowing: S&P

  19-01-2017 09:16 via news.yahoo.com
  
  South Africa should avoid falling into recession this year, the chief economist of Standard & Poor's said on Wednesday, but the firm has cut its forecasts for Mexico amid rising concerns over its trade ties with the United States under Donald Trump. Paul Sheard, who is not involved in deciding credit ratings, said global growth should improve and even the rise in borrowing costs on the bond market could possibly help if that eases fears of 'secular stagnation' in the large developed economie
  
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• Euro May Not Find Lasting Lead in Status-Quo ECB Announcement

  19-01-2017 08:46
  The Euro is unlikely to find follow-through beyond kneejerk volatility in an ECB monetary policy announcement that hews closely to the status quo.
  
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