Filed under: Before the bell, Analyst reports, Analyst upgrades and downgrades, Deals, Microsoft (MSFT), Apple Inc (AAPL), Hewlett-Packard (HPQ), Pfizer (PFE), Bristol-Myers Squibb (BMY), Federal Natl Mtge (FNM), ConocoPhillips (COP), Mattel, Inc (MAT), AMR Corp (AMR), Lilly (Eli) (LLY), Analyst initiations, Economic data, Oil, Housing

U.S. stock futures were lower this morning on fear Tropical Storm Gustav’s path might pose a threat to refinery activity along the Gulf of Mexico coastline and some would have to shut down. Indeed, oil prices rose to above $117 a barrel Wednesday. Also in focus today is the upcoming durable goods order to be reported before the opening bell. Meanwhile, the FDIC is considering borrowing funds from the Treasury, amid an expected wave of bank failures. Nine banks have failed so far this year, and the number of troubled U.S. banks rose 30% to 117 in the second quarter.
[Update: Futures turned positive after durable goods unexpectedly gained.]

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE), which stocks jumped big Tuesday, both had several ratings cut by Standard & Poor’s. Still, both stocks seem to continue their climb in premarket with Fannie shares up 7.5% and Freddie’s up 10%. At least two analysts, from Citigroup and Goldman stated Tuesday the situation isn’t as bad as it may seem.

From financials to toys: A federal jury awarded Mattel Inc. (NYSE: MAT) $100 million in damages on Tuesday in a federal copyright lawsuit against MGA Entertainment Inc., the maker of the saucy Bratz dolls.

Moving to pharmaceuticals, Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) and Eli Lilly & Co. (NYSE: LLY) shares are down 10% and 1% respectively in premarket trading after four more patients taking their Byetta diabetes medication have died. Baird downgraded Amylin from Buy to Neutral and cut its price target from $37 to $27. Soleil downgraded AMLN from Hold to Sell.

Meanwhile, Bristol-Myers Squibb Co. (NYSE: BMY) and Pfizer Inc. (NYSE: PFE) said that early results from a Phase III study show the companies’ blood-clot-drug candidate apixaban did not meet its primary goals.

In Apple Inc. (NASDAQ: AAPL) news, The Guardian reports that “A TV ad for Apple’s iPhone has been banned by the UK’s advertising watchdog for misleading consumers after it over-hyped the web capabilities of the smart phone.” Since the iPhone does not support Flash or Java, claims that “all the parts of the internet are on the iPhone” are deemed misleading.
And if you missed it Tuesday, iPhone 3Gs now outnumber first generation iPhones.

A current comScore data release show Microsoft (NASDAQ: MSFT) was the top display advertiser in June 2008, which was due in massive part to its promotional campaign for Windows Live Search and other such promotions.

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This entry was posted on Wednesday, August 27th, 2008 at 11:06 am and is filed under Housing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Filed under: Before the bell, Analyst reports, Analyst upgrades and downgrades, Deals, Microsoft (MSFT), Apple Inc (AAPL), Hewlett-Packard (HPQ), Pfizer (PFE), Bristol-Myers Squibb (BMY), Federal Natl Mtge (FNM), ConocoPhillips (COP), Mattel, Inc (MAT), AMR Corp (AMR), Lilly (Eli) (LLY), Analyst initiations, Economic data, Oil, Housing

U.S. stock futures were lower this morning on fear Tropical Storm Gustav’s path might pose a threat to refinery activity along the Gulf of Mexico coastline and some would have to shut down. Indeed, oil prices rose to above $117 a barrel Wednesday. Also in focus today is the upcoming durable goods order to be reported before the opening bell. Meanwhile, the FDIC is considering borrowing funds from the Treasury, amid an expected wave of bank failures. Nine banks have failed so far this year, and the number of troubled U.S. banks rose 30% to 117 in the second quarter.
[Update: Futures turned positive after durable goods unexpectedly gained.]

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE), which stocks jumped large Tuesday, both had several ratings cut by Standard & Poor’s. Still, both stocks seem to continue their climb in premarket with Fannie shares up 7.5% and Freddie’s up 10%. At least two analysts, from Citigroup and Goldman said Tuesday the situation isn’t as bad as it might seem.

From financials to toys: A federal jury awarded Mattel Inc. (NYSE: MAT) $100 million in damages on Tuesday in a federal copyright lawsuit against MGA Entertainment Inc., the maker of the saucy Bratz dolls.

Moving to pharmaceuticals, Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) and Eli Lilly & Co. (NYSE: LLY) shares are down 10% and 1% respectively in premarket trading after four more patients taking their Byetta diabetes medication have died. Baird downgraded Amylin from Purchase to Neutral and cut its price target from $37 to $27. Soleil downgraded AMLN from Hold to Sell.

Meanwhile, Bristol-Myers Squibb Co. (NYSE: BMY) and Pfizer Inc. (NYSE: PFE) said that early results from a Phase III study show the companies’ blood-clot-drug candidate apixaban did not meet its primary goals.

In Apple Inc. (NASDAQ: AAPL) news, The Guardian reports that “A Television ad for Apple’s iPhone has been banned by the UK’s advertising watchdog for misleading consumers after it over-hyped the web abilities of the smart phone.” Since the iPhone does not support Flash or Java, claims that “all the parts of the web are on the iPhone” are deemed misleading.
And if you missed it Tuesday, iPhone 3Gs now outnumber first generation iPhones.

A current comScore data release show Microsoft (NASDAQ: MSFT) was the top display advertiser in June 2008, which was due in big part to its promotional campaign for Windows Live Search and other such promotions.

Share This

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This entry was posted on Wednesday, August 27th, 2008 at 11:06 am and is filed under Housing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.