Germany was crowned the world champion on Sunday night after
defeating Argentina by one goal in extra time.
The nation's victory was its fourth in World Cup history marks
the first time any European team was able to win playing in the
Americas giving the entire continent something to celebrate.
In other news around the markets:
President Barack Obama's foreign policy has come under fire in
recent weeks as instability across the globe worsens. Crises in all
corners of the world from territorial disputes in Asia, to the
power struggle between Ukraine and Russia, to the rapidly
deteriorating Middle East have put Obama's decision not to deploy
troops and send stronger support to allies under the microscope. On
Monday, Chocoladefabriken Lindt & Spruengli AG said it was
planning to acquire Russell Stover Candies Inc., positioning the
company to become the third largest chocolate maker in North
America. The deal, the financial details of which are unknown, is
likely to push the company's sales to more than $1.5 billion by
expanding the Swiss chocolate maker's reach into the North American
market. Shire has finally agreed to recommend AbbVie's fifth
takeover bid at 31 billion pounds. The deal will help AbbVie save
on its taxes following the deal as well as providing the company
with new products. The new offer increased the AbbVie's previous
pitch for 51.15 pounds per share to 53.20 pounds per share. This
week's earnings releases will include some of the most powerful
tech companies, giving investors a better picture of the sector's
reported that Goldman Sachs has said that the information
technology sector is probably the most undervalued sector in the
market, so strong earnings reports from heavy hitters like Google
and Yahoo will keep the market's record breaking momentum going.
Spanish data showed that the nation's banks saw a decline in bad
loans recently, giving the eurozone a bit of hope that the nation
was on the rebound after its financial crisis. The banks'
non-performing loans fell to 13.4 percent in April from 13.6
percent in December. However, with the European Central Bank's more
rigorous health checks on the horizon, some believe the data
doesn't tell the whole story and that the nation's banks still have
a long way to go before they are stable.
Asian markets began the week on a high note; the NIKKEI rose
0.88 percent, the Shanghai composite was up 0.96 percent, the
Shenzhen composite gained 1.32 percent, the Hang Seng index rose
0.49 percent and the KOSPI was up 0.26 percent.
European markets were also higher; the FTSE was up 0.75 percent,
the STOXX 600 gained 0.72 percent, the DAX rose 0.74 percent and
the CAC 40 was up 0.63 percent.
Energy futures were mixed, Brent futures were up 0.12 percent
and WTI futures rose 0.32 percent. Gold and silver lost 1.11
percent and 0.94 percent respectively, while industrial metals
gained. Copper was up 0.06 percent, aluminum rose 0.83 percent and
zinc was up 1.41 percent.
The euro was steady above $1.36 to begin the week, gaining 0.16
percent against the pound and 0.23 percent against the yen. The
dollar also gained against the yen, up 0.09 percent, but lost 0.22
percent against the franc.
Notable earnings released on Friday included:
Wells Fargo (NYSE:
) reported second quarter EPS of $1.01 on revenue of $21.10
billion, compared to last year's EPS of $0.98 on revenue of $21.38
billion. Fastenal Company (NASDAQ:
) reported second quarter EPS of $0.44 on revenue of $949.90
million, compared to last year's EPS of $0.41 on revenue of $847.60
million. Infosys Limited (NASDAQ:
) reported first quarter EPS of $0.84 on revenue of $2.13 billion,
compared to last year's EPS of $0.73 on revenue of $1.99 billion.
Stocks moving in the Premarket included:
) was up 1.38 percent in premarket trade after falling 3.20 percent
last week. Apple (NASDAQ:
) rose 1.25 percent in premarket trade after gaining 1.27 percent
over the past week. Facebook (NASDAQ:
) was up 0.99 percent in premarket trade after rising 2.26 percent
on Friday. Johnson Controls (NYSE:
) lost 5.01 percent in premarket trade after choppy trading took
the stock down 1.36 percent last week.
Notable earnings releases expected on Monday include:
) is expected to report second quarter EPS of $1.10 on revenue of
$18.95 billion, compared to last year's EPS of $1.34 on revenue of
$20.48 billion. Wintrust Financial (NASDAQ:
) is expected to report second quarter EPS of $0.72 on revenue of
$197.92 million, compared to last year's EPS of $0.69 on revenue of
$199.82 million. Bank of the Ozarks (NASDAQ:
) is expected to report second quarter EPS of $0.33 on revenue of
$78.56 million, compared to last year's EPS of $0.29 on revenue of
Monday's economic calendar will be relatively quiet with
industrial production data from the eurozone and Japan and a speech
from ECB President, Mario Draghi.
For a recap of Friday's market action, click .
Tune into Benzinga's #PreMarket Prep today to hear Eric Scott
Hunsader, Brian Peery, Scott Leonard & Kiana Danial by clicking
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