Ahead of Wall Street - February 10, 2012 - Ahead of Wall Street
10 Febbraio 2012 - 9:43AM
Zacks
Friday, February 10, 2012
If you thought the Thursday announcement of a Greek deal would
be the last word on the issue, then you were wrong. It seems that
we are back to square one again this morning, as a meeting of
Euro-zone finance ministers in Brussels asked Greece to jump
through an extra hoop before it could expect to get a fresh
bailout.
The Thursday deal announcement was among Greek political leaders
who had finally agreed to the very onerous fresh austerity measures
demanded of them. The fact that the political leaders have to face
the electorate in the next few months in fresh elections made it
all the more difficult for them to agree to the measures. But now
the Europeans are demanding some more cuts and also that the deal
needed to be enacted through an act of parliament. The interim
government of Prime Minister Loukas Papademos enjoys the
support of a big majority in parliament. But with public unions on
a 48-hour strike throughout Greece, this new development has the
potential of producing last minute surprises that could unsettle
the markets.
On the home front, we have a relatively quite economic and
earnings calendar today. The December trade deficit number came
essentially in-line with expectations, meaning that trade will not
cause a major revision to the fourth quarter GDP estimate later
this month that was originally reported at 2.8%. We also have the
preliminary University of Michigan consumer sentiment data for
February on deck for release a little later. The expectation is for
the measure to shrink a bit from the late-January level of 75.
On the earnings front, NYSE Euronext (NYX), the
operator of New York Stock Exchange, met EPS expectations, but
modestly missed on the top-line. The exchange operator, who was
recently rebuffed by European regulators from merging with Deutche
Boerse on anti-trust grounds, plans to focus on its trading
technology business to grow going forward. Arch
Coal (ACI) beat EPS expectations by a penny, but missed on
the revenue side and guided towards lower production volumes.
LinkedIn (LNKD) came in with better than expected
results after the close on Thursday and guided higher.
Sheraz Mian
Director of Research
ARCH COAL INC (ACI): Free Stock Analysis Report
LINKEDIN CORP-A (LNKD): Free Stock Analysis Report
NYSE EURONEXT (NYX): Free Stock Analysis Report
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