TUESDAY, April 5
Extended-Hours Earnings: ANGO, ISCA, KBH, LAYN, MIND, VRNT, ZEP.
Economic Data: 10 a.m. ISM Services.
WEDNESDAY, April 6
Extended-Hours Earnings: BBBY, HEB, APOG, BLUD, MON, OCNF, RELL, RT,
Economic Data: 7 a.m. MBA Mortgage Index; 10:30 a.m. Crude Inventories.
THURSDAY, April 7
Extended-Hours Earnings: STZ, LAKE, MOV, PENX, PEDH, PBY, PIR, RAD, NCTY.
Economic Data: 8:30 a.m. Initial Claims; 3 p.m. Consumer Credit.
FRIDAY, April 8
Extended-Hours Earnings: BTH.
Economic Data: 10 a.m. Wholesale Inventories.
VVUS reports on QNEXA's cardiovascular benefits.
MCP buys controlling stake in AS Silmet which doubles rare earth
PFE sells Capsugel business; gets FDA refusal to file letter on
TSEM signs term sheet to buy Micron's wafer plant in Japan.
EPIC sold to private equity firm Apax for $2 Bln.
CCL gains on positive Barron's coverage.
CPST inks new orders.
MCD plans new hiring.
MSSR gets $9.25 per share offer.
LB to be sold for $19.25 per share.
LUV continues some flight cancellations as fuselage issue reviewed; BA up
AMIE files for Ch. 11.
SNE gains as Sony and Ericsson JV launches Playstation phone.
LOGI continues recent active-volume slide that followed revenue warning.
VOD sells stake in France's SFR.
Chip stocks including Intel (INTC) and Nvidia (NVDA) were leading
decliners among generally weaker tech shares and that ultimately weighed
on broader-market sentiment. Averages chopped in mixed fashion for much
of the session. The major averages are capped below their highs for the
year, hit in recent sessions. Deal news offered mild early support to the
The Semiconductor Industry Association also said worldwide chip sales
dipped slightly to $25.2 billion in February from $25.5 billion in
January, even though sales were up 13.6% from February 2010. The SIA
noted that the results were before March's disasters in Japan.
High oil prices are also keeping the broader stock market in check.
Brent crude extended gains to a 2-1/2-year peak above $120 a barrel on
concerns about Libya's conflict, Middle East unrest and potential supply
threats. U.S. crude oil futures settled at $108.47 a barrel, up 53 cents,
for the highest close since September 2008.
There were no economic reports issued Monday, leaving focus on recent and
upcoming commentary from Federal Reserve officials and the global
The European Central Bank, which is holding a policy meeting on Thursday,
is expected to raise key rates by 25 basis points from a record low in
reaction to rising inflationary pressures in the euro zone. Two more 25-
basis-point rate hikes are expected by year-end.
Epicor Software (EPIC) hit a 52-week high of $12.49 out after it says it
and Activant Solutions will be bought by Apax Partners in a deal worth
about $2 billion.
Also, Pfizer (PFE) rose after the drug maker and Kohlberg Kravis Roberts
& Co L.P. announced that an affiliate of KKR will acquire Pfizer's
Capsugel business for $2.375 billion in cash. Capsugel, a maker of hard
capsules and drug-delivery systems, generated approximately $750 million
in revenue and manufactured more than 180 billion hard capsules in 2010.
Abbott Laboratories (ABT) today announced that data from its Endovascular
Valve Edge-to-Edge Repair Study, or Everest II, showed that treatment
with the company's investigational percutaneous catheter-based MitraClip
system has continued clinical benefits one to two years after initial
treatment. Patients with significant mitral regurgitation who were
treated showed improvements in heart function and reductions in symptoms.
McDonald's Corp. (MCD) plans to hire 50,000 people, coupled with the
overall bullish investor sentiment. The fast food chain will hold its
first national hiring day April 19 nationwide, according to AP.
Southwest Airlines (LUV) canceled more than 50 flights Monday to inspect
for fuselage cracks in its fleet of Boeing Co. (BA) 737-300 jetliners.
The safety checks follow an emergency landing on Friday of a Southwest
737-300 jet after a three-foot hole ripped open in its roof. The ruptured
fuselage skin from that plane has been sent to the National
Transportation Safety Board headquarters in Washington, D.C. for in-depth
Carnival (CCL) Barron's said shares may rise 30% as traveling demand
expands and as the company spends less on building new ships, according
to a Barclays Capital analyst.