This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Morning Briefing: 10 Things You Should Know

Stocks in this article: BACAXPINTCEBAYYHOOCSX

NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, July 17:

1. -- U.S. stock futures were pointing lower Wednesday ahead of congressional testimony from Federal Reserve Chairman Ben Bernanke.

Wall Street will be seeking clarity from Bernanke on when the central bank will start reducing its monetary stimulus.

European stocks were trading slightly lower while Asian shares ended Wednesday's session mixed. Japan's Nikkei 225 index gained 0.1%.


2. -- The economic calendar in the U.S. Wednesday includes housing starts and building permits for June at 8:30 a.m. EDT, and the release of the Federal Reserve's Beige Book at 2 p.m.


3. -- U.S. stocks on Tuesday declined as Coca-Cola (KO) reported sales that missed analysts' forecasts, leaving traders uncertain about the trajectory for consumer spending.

The S&P 500 fell 0.37% to 1,676.26 while the Dow Jones Industrial Average slipped 0.21% to 15,451.85. The Nasdaq fell 0.25% to 3,598.50.


4. -- Bank of America (BAC) is expected by analysts to report on Wednesday second-quarter earnings of 25 cents a share on revenue of $22.78 billion, an increase of 3.7% from a year earlier.


5. -- American Express (AXP), one of the world's largest credit card companies, is forecast to post quarterly earnings Wednesday of $1.22 a share on revenue of $8.28 billion.

Last year, American Express earned $1.34 billion, or $1.15 a share, on revenue of $8 billion.


6. -- Yahoo!'s (YHOO) top-line numbers for the second quarter fell short of Wall Street estimates and the Internet company issued soft third-quarter guidance.

Yahoo! reported earnings of 35 cents a share on revenue of $1.07 billion, excluding traffic acquisition costs; revenue fell 1% from last year. Display revenue ex-TAC came in at $423 million, down 11% from last year, while search revenue ex-TAC was $403 million, a year-over-year increase of 5%. .

Yahoo! said Tuesday it expects third-quarter revenue excluding TAC of between $1.06 billion and $1.1 billion. Analysts are expecting revenue of $1.12 billion.

Yahoo! also cut fiscal 2013 estimates for non-GAAP operating income. It now expects operating income to be between $900 million and $1 billion, down from a range of $1.05 billion to $1.1 billion. Full-year revenue guidance was pared to between $4.45 billion and $4.55 billion.


7. -- eBay (EBAY), the e-commerce giant and owner of PayPal, is expected by analysts to report second-quarter earnings of 63 cents a share on revenue of $3.89 billion.

eBay earned 53 cents a share on revenue of $3.4 billion in the same quarter last year. Adjusted earnings were 56 cents a share.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,719.00 +33.27 0.19%
S&P 500 2,052.75 +4.03 0.20%
NASDAQ 4,701.8670 +26.1550 0.56%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs