MORNING COFFEE

RIM not affected by iPhone and Droid

Research In Motion (RIMM) The maker of Blackberry cell phones reported earnings of 1.10.  Analyst had estimated earnings of only 0.69.  The 59 percent increase in third-quarter income was boosted by new subscribers and record sales of its smart phones.  

Oracle beats estimates

Oracle (ORCL) beat earnings estimates by 8.33% reporting earnings of 0.39. Revenues rose 4% from the year-ago period.  President Safra Catz said on the earnings call “We're really seeing a recovery,".

Accenture reports mixed results

Accenture PLC (ACN) reported earnings of 0.67 which beat estimates of 0.65.  The company future guidance was mixed.  The company raised their full year earnings to 2.67-2.75 per share, above estimates of 2.64-2.72 citing improving momentum.  The company did say it expects their second quarter revenues to come in below Wall Street’s estimates.  

Nike running strong

Nike (NKE) reported better than expected earnings on cost cutting, streamlining operations and reduced marketing.  The company reported earnings of 0.76, traders were looking for earnings of only 0.71. 

Banks troubles continue

There is more trouble for banks as FINRA investigating information from Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS) and other securities firms. The regulatory body is looking at how the firms disseminate stock ratings and research. The probe is an expansion of one of the one at Goldman Sachs (GS), in which FINRA  their largest clients may have received trading tips that benefited certain clients.

Earnings Before the Bell

Carmax (KMX) Carmax reported earnings of 0.24 per share beating estimates by 0.08.  Revenues came in at 1.73B.  The shares are up 4% in the premarket.

·     Futures: Dow +0.3% to 10306. S&P +0.4% to 1098.50. Nasdaq +0.3%.

    Feb. crude +1.6% to $75.30. Gold +0.3% to $1,111.

    30-year Tsy +0.11% to 119-02. 

    Euro +0.2% vs. dollar. Yen flat. Pound+0.3%.

·    Asia: Nikkei -0.2% to 10142. Hang Seng -0.8% to 21176. Shanghai -2%to 3114. BSE -1% to 16720.

·    Europe at midday: FTSE +0.6% to 5250. CAC +0.1% to 3836. DAX+0.6% to 5877.