NEW YORK (TheStreet) -- AMC Entertainment will begin trading Wednesday, General Mills and FedEx report earnings and Jim Cramer tries on Nike. Plus, we wait out the Fed taper call. Jonathan Marino at the Nasdaq Market Site.
Good morning, from the Nasdaq market site on a nippy Wednesday morning, I'm John Marino from TheStreet with your global markets report. Just a week away from Christmas, a big day for U.S. markets ahead as the federal reserve decides whether to begin tapering its bond-buying program. U.S. markets are up slightly heading into the open, but when you take a look at international exchanges right now the FTSE is up three-tenths of a point, the DAX up nearly a full point midday trading the CAC-40 is up nearly 6 tenths of a point and the Nikkei closing out with a big day up two whole points. Going right now from international markets to our Nasdaq wall, one stock should be getting a lot of attention this morning is FedEx (FDX). Company shares are up more than fifty percent so far this year, and earnings are expected at $1.64/share when FedEx reports before the bell this morning. The company reported earnings $1.39 a share this quarter last year. Also set to report earnings before the bell this morning is General Mills (GIS). The company's looking to be expectations of 88 cents a share. This time last year General Mills reported 86 cents a share. The stock so far this year up about 23 percent. And today's the day for AMC Entertainment. The company sold 331 million dollars in stock to investors and employees and will debut on public markets today under the ticker AMC. Formally backed by private-equity, AMC was bought by Chinese investment group Dailan Wanda last year in a 2.6 billion dollar deal. Rounding out of stocks this morning is a new Jim Cramer Action Alert pick. Jim is buying into shares of Nike (NKE) ahead of Thursday's earnings call. The stock is already about 49 percent this year but Jim's putting a target of eighty seven dollars in the stock. He said growing revenue and earnings and he's looking for a boost next year at the World Cup. That's it for us today, but be sure to check out TheStreet.com all day for breaking news and analysis including Oracle's earnings after the bell. I'm John Marino, and I'll will be back tomorrow. Have a great day.
Written by Jon Marino in New York.
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