This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Morning Briefing: 10 Things You Should Know

Stocks in this article: PFE BP JPM TWC CBS ALU QCOM GT AET

NEW YORK ( TheStreet) -- Here are 10 things you should know for Tuesday, July 30:

1. -- U.S. stock futures were trading flat to slightly higher early Tuesday as the Federal Reserve begins a two-day policy meeting.

European stocks were rising moderately while Asian shares finished Tuesday's trading session mostly to the upside. Japan's Nikkei 225 index rose 1.5% to close at 13,869.82.

2. -- The economic calendar in the U.S. Tuesday includes the Case-Shiller 20-city Index for May at 9 a.m. EDT and consumer confidence for July at 10 a.m.

3. -- U.S. stocks on Monday U.S. fell amid concern that markets have risen too high this year, and that when the Federal Reserve does decide to pull back on its stimulus measures, equities could start to tumble.

The S&P 500 dipped 0.37% to 1,685.33 while the Dow Jones Industrial Average slipped 0.2% to 15,521.97. The Nasdaq declined 0.39% to 3,599.14.

4. -- Pfizer (PFE), the world's biggest drugmaker, posted second-quarter earnings that topped Wall Street estimates and said it it planned to separate its commercial operations into two units for branded products and a third unit for generic drugs.

Pfizer's generics business, which represents 17% of total sales, has far lower profit margins than its patent-protected drugs, according to Reuters. Analysts have been urged Pfizer to spin off its generics business, and this business split could lead to that.

Pfizer posted adjusted income of $4 billion, or 56 cents a share, down from year-earlier earnings of $4.45 billion, or 59 cents a share. Revenue fell 7% to $12.97 billion.

Analysts were expecting second-quarter income of 55 cents a share on revenue of $13.01 billion.

5. -- The Federal Energy Regulatory Commission, in an enforcement notice, said JPMorgan Chase (JPM) manipulated electricity prices in California and the Midwest in 2010 and 2011.

The FERC notice could be a prelude to a settlement with the largest U.S. bank.

The commission accused JPMorgan of using improper bidding strategies to squeeze excessive payments from the agencies that run the power grids in California and the Midwest.

6. -- BP (BP), the British oil giant, swung to second-quarter profit of $2 billion from a year-earlier loss but the earnings missed Wall Street forecasts.

BP made more provisions for the 2010 oil spill in the Gulf of Mexico, increasing the total by about $200 million to $42.4 billion.

7. -- Time Warner Cable (TWC) late Monday announced a blackout of CBS (CBS) programming in New York, Los Angeles and Dallas but then reversed the decision.

Time Warner Cable said around midnight EDT that roughly 3 million customers in those cities would lose the CBS network and four CBS cable stations because of "outrageous demands for fees" by CBS. But talks between the companies continued into the early morning hours on Tuesday; a Time Warner Cable spokeswoman said the company relented "at the request of CBS."

1 of 2

Select the service that is right for you!

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • 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