NEW YORK (
) -- Here are the top stock market headlines for the morning of Thursday, August 6, 2009.
Thursday's Early Headlines
- Retail Sales Disappoint in July. - Through the first 11 retailers to report same-store sales for July, more than half missed estimates, with The Buckle (BKE) - Get Report, Wet Seal (WTSLA) , and Rite Aid (RAD) - Get Report among the biggest misses, according to Thomson Reuters
- Judge Stalls BofA Settlement with SEC. - The Wall Street Journal reported that a U.S. District Judge refused to sign off on a consent decree between the Securities and Exchange Commission and Bank of America (BAC) - Get Report, saying that approving the deal without a hearing would leave the public in the dark regarding a key aspect of the Wall Street bailout.
- BofA Saw Wider Merrill Loss Before Vote. - The Wall Street Journal reported that BofA's loss projections for Merrill Lynch increased by almost $2 billion two days before shareholders approved the acquisition of the brokerage, but the bank's executives concluded the losses weren't severe enough to disclose publicly before the vote.
- Ex-AIG CEO Could Be Sued by SEC. - Former American International Group (AIG) - Get Report Chairman and CEO Maurice "Hank" Greenberg may be sued by U.S. regulators, according to a Bloomberg report. Greenberg may face civil legal claims from the SEC as soon as Thursday, the report said, citing people familiar with the matter.
- Weekly Jobless Claims Fall - The Labor Department said initial jobless claims fell by 38,000 last week to 550,000, well below the 580,000 consensus. However, continuing claims rose to 6.31 million from 6.24 million.
Thursday's Earnings Roundup
- Comcast (CMCSA) - Get Report posted second-quarter earnings of 33 cents a share, better than the Thomson Reuters average estimate of 26 cents a share. Revenue climbed 4.5% from a year ago to $8.94 billion, above the $8.86 billion consensus.
- DirecTV (DTV) reported second-quarter earnings of 40 cents a share, below Wall Street's target of 43 cents a share. Revenue beat expectations, rising 8.6% from the year-ago quarter to $5.22 billion.
- Nasdaq OMX GroupI:IXIC said it had second-quarter earnings of 47 cents a share, matching consensus estimates. Revenue slid 12.6% from a year ago to $367 million, slightly below the $368.5 million analysts expected.
- Sirius XM (SIRI) - Get Report posted an adjusted loss of a penny a share, matching the Thomson Reuters average estimate. Pro forma total revenue, which takes into account the merger of Sirius and XM a year ago, rose 1% to $608 million, also inline with forecasts. Sirius XM increased its full-year 2009 guidance for adjusted income from operations to over $400 million from over $350 million.