9:10am (EST)
Futures are pointing towards a lower open this morning despite gains in Asia, where China’s president said the country will loosen its currency policy and reform the yuan exchange rate. The euro is slipping against the dollar and Shrek 4 underperformed at the box office.
Later this morning, the market will get look at existing home sales. Wall Street is expecting home sales rose last month to an annual rate of 5.63 million units from 5.35 million a month earlier as April was the final month buyers could quality for the recent tax credit.
DreamWorks (DWA, $32.87, down $2.87) is down 8% in early action this morning after Shrek 4 failed to lure movie-goers in droves. As far as earnings for the week:
MONDAY – Campbell Soup (CPB, $35.48, up $0.52), China Mass Media (CMM, $2.07, up $0.06), CNinsure (CISG, $22.67, up $1.83), Donaldson (DCI, $42.26, up $0.64), Gladstone Investment (GAIN, $5.44, up $0.09), Internet Gold Golden Lines (IGLD, $23.20, up $0.45), Longtop Financial Tech (LFT, $31.04, up $1.27), Phillips-Van Heusen (PVH, $52.98, up $1.57) and Yingli Green Energy Holding (YGE, $9.57, up $0.34).
TUESDAY – AutoZone (AZO, $183.47, up $3.81), Dycom Industries (DY, $8.61, $0.07), Cracker Barrel (CBRL, $48.83, up $0.31), DSW (DSW, $27.52, up $0.41), Flowers Foods (FLO, $25.83, down $0.08), Heico (HEI, $39.48, down $0.33), Medtronic (MDT, $40.33, up $0.01), Netezza (NZ, $12.89, down $0.22), Partner Communications (PTNR, $17.11, down $0.02), Sanderson Farms (SAFM, $53.79, down $0.56), Shiloh Industries (SHLO, $8.33, down $0.31), Stanley (SXE, $36.75, up $0.17), TiVo (TIVO, $9.03, up $0.19) and Trina Solar Limited (TSL, $18.20, up $0.87).
WEDNESDAY – American Eagle Outfitters (AEO, $15.10, up $0.18), Avago Tech (AVGO, $19.81, down $0.29), Bank of Montreal (BMO, $56.72, up $1.16), Diana Shipping (DSX, $13.33, up $0.53), Dress Barn (DBRN, $27.20, up $0.18), Jo-Ann Stores (JAS, $42.71, up $2.43), NetApp (NTAP, $32.83, up $0.27), rue21 (RUE, $31.22, down $0.33), Semtech (SMTC, $17.58, up $0.28), Toll Brothers (TOL, $20.69, up $0.38) and Verifone (PAY, $17.61, up $0.66).
THURSDAY – America’s Car-Mart (CRMT, $24.15, down $0.20), Big Lots (BIG, $36.27, up $1.36), Bio-Reference (BRLI, $22.09, up $0.24), Blue Coat Systems (BCSI, $27.38, up $0.16), Canadian Imperal Bank (CM, $69.86, up $1.73), Columbus McKinnon (CMCO, $16.56, up $0.31), Costco (COST, $57.44, up $0.85), Diamond Foods (DMND, $41.25, up $1.04), Genesco (GCO, $28.81, up $0.37), Guess (GES, $36.79, up $1.38), H.J. Heinz (HNZ, $45.83, no change), HHGregg (HGG, $26.14, up $0.30), J. Crew Group (JCG, $43.93, up $1.11), OmniVision (OVTI, $17.14, up $0.30), Royal Bank of Canada (RY, $55.84, up $1.08), SeaChange International (SEAC, $8.01, up $0.12), Sigma Designs (SIGM, $10.35, up $0.46), Signet Jewelers (SIG, $30.52, up $0.16), Toronto Dominion Bank (TD, $67.46, up $1.65) and Tiffany (TIF, $42.72, up $0.96).
FRIDAY – China Cord Blood (CO, $5.80, up $0.13), Frontline (FRO, $30.67, up $1.56) and Golar LNG Limited (GLNG, $11.36, up $0.14).
As we head to press, Dow futures are down 45 points to 10,115, after being down as much as 105 points earlier this morning. The S&P 500 futures are down by 6 points 1,078, while Nasdaq 100 futures are off by 8 points to 1,811.
We have a lot to cover in the Members Area this morning so let’s get to it.
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