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Ken Langone Goes Over the U.S. Education System's Reflection in the Employee Pool

Jason Cunningham — Wed, 19 Jun 2013 15:32:12 +0000

Ken Langone, Geeknet (NASDAQ: GKNT) chairman and CEO, the venture capitalist behind the Home Depot (NYSE: HD) and Yum! Brands (NYSE: YUM), was on CNBC's Squawk Box as a guest-host for the majority of Wednesday morning.

Langone started off with a nearly poetic list that displayed a fruitful year in investments for the billionaire.

"Public markets are good. Investment opportunities in private sector are good. Cost of money is cheap, which makes the deals that much more attractive. I think there's no reason for rates to go up. So, no matter what the Fed does, banks are having trouble making loans. Companies are spitting cash out like crazy, little ones, big ones…Look, the tragedy of all this, is this year is turning out, so far, knock wood, to be one of the best years I've had in investments," said Langone.

Langone said that for the companies he keeps track of, all of them are doing well, and mostly creating ...

The Related Group's CEO Jorge Perez On Lowering Risk During Development In Miami

Jason Cunningham — Wed, 19 Jun 2013 15:05:28 +0000

Jorge Perez, Related Group of Florida chairman and CEO, appeared on CNBC's Squawk Box Wednesday morning to chat about the increase in demand for properties in Miami, Florida, and some of their new approaches to the projects that they have under development.

Building in Miami has not reached the hurried heights of 2007, but there is a huge increase in international demand that's been led by Latin America and secondarily by Europe, said Perez.

"Miami is of course seen as the link between the south and the north. It's a very, very international city, perhaps our most international city, that has drawn tremendous amounts of Latin American investment, and that's what we're seeing fuel this new boom," Perez said.

The Related Group lost $3 billion in various projects as a result of the housing ...

Mid-Morning Market Update: Markets Edge Lower, FedEx Posts Upbeat Profit

Jake L'Ecuyer — Wed, 19 Jun 2013 14:32:42 +0000

Following the market opening Wednesday, the Dow traded down 0.17 percent to 15,292.21 while the NASDAQ declined 0.06 percent to 3,480.22. The S&P also fell, dropping 0.18 percent to 1,648.87.

Top Headline
FedEx (NYSE: FDX) reported a drop in its fourth-quarter profit.

FedEx's quarterly profit declined to $303 million, or $0.95 per share, versus $550 million, or $1.73 per share, in the year-ago period. Its adjusted earnings came in at $2.13 per share.

Its revenue surged to $11.4 billion from $11 billion. However, analysts were projecting earnings of $1.96 per share on revenue of $11.45 billion.

Equities Trading UP
Keryx Biopharmaceuticals (NASDAQ: KERX) shot up 7.18 percent to $8.21 after analysts at JP Morgan initiated coverage on the stock with an “overweight” rating.

Shares of Adobe Systems (NASDAQ: ADBE) got a boost, shooting up 5.42 ...

Benzinga Market Primer: Wednesday, June 19: FOMC Edition

Matthew Kanterman — Wed, 19 Jun 2013 10:28:38 +0000

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Futures Tick Higher Ahead of Fed

U.S. equity futures traded slightly higher ahead of the much anticipated Federal Reserve meeting Wednesday. With rumors of tapering, not tapering, and Chairman Bernanke stepping down, all eyes will be on the policy statement, the revised forecast, and the chairman's press conference.

Top News

In other news around the markets:

Japan's exports grew 10.1 percent from a year ago in May with exports to the U.S. rising over 16 percent.
Cyprus' President has asked the European creditors to revise the terms of its bailout as the nation's banks face a cash crunch. The restructuring of one of the nation's largest banks is taking longer than expected, causing a short-term liquidity crunch in the island nation.
Concerns over deficits in Greece rose again overnight as the Troika announced concerns over the finances of Greece's national health system.
S&P 500 futures rose 2.3 points to 1,647.50.
The EUR/USD was flat at 1.3390.
Spanish 10-year government bond yields rose 1 basis point to 4.56 percent.
Italian 10-year government bond yields rose 1 basis point to 4.3 percent.
Gold climbed 0.04 percent to $1,367.40.

Asian Markets

Asian shares were mixed overnight as strength in Japan was offset by weakness in other parts of the region. The Japanese Nikkei 225 Index rose 1.83 percent and the Topix Index gained 1.86 percent. In Hong Kong, the Hang Seng Index declined 1.13 percent while the Shanghai Composite Index fell 0.62 percent in China. Also, the Korean Kospi ...

Mid-Afternoon Market Update: Markets Rally Ahead of Fed Announcement Tomorrow; MannKind Drops

Jake L'Ecuyer — Tue, 18 Jun 2013 19:54:13 +0000

Toward the end of trading Tuesday, the Dow traded up 0.97 percent to 15,327.18 while the NASDAQ surged 0.94 percent to 3,484.41. The S&P also rose, gaining 0.83 percent to 1,652.81.

Top Headline
FactSet Research Systems (NYSE: FDS) reported an 11% rise in its fiscal third-quarter earnings.

FactSet's quarterly profit surged to $53.4 million, or $1.20 per share, versus $48 million, or $1.05 per share, in the year-ago period. Excluding one-time items, its adjusted earnings came in at $1.15 per share in the recent period.

Its revenue rose 6.1% to $214.6 million. FactSet in March had expected earnings of $1.14 to $1.16 per share on revenue of $213 million to $216 million. FactSet's operating margin narrowed to 33.4% from 33.9%.

For the current quarter, FactSet expects earnings of $1.18 and $1.21 per share on revenue of $218 million to $221 million. However, analysts were projecting earnings of $1.18 per share on revenue of $220 million.

Equities Trading UP
Walter Energy (NYSE: WLT) shot up 17.68 percent to $13.77 after Morgan Stanley defended the stock Monday evening, sending traders to the bullish side.

Shares of FLIR Systems ...

Mid-Day Market Update: Dow Surges Over 100 Points, John Wiley Shares Down

Jake L'Ecuyer — Tue, 18 Jun 2013 16:24:02 +0000

Midway through trading Tuesday, the Dow traded up 0.77 percent to 15,296.18 while the NASDAQ surged 0.79 percent to 3,479.41. The S&P also rose, gaining 0.66 percent to 1,649.81.

Top Headline
FactSet Research Systems (NYSE: FDS) reported an 11% rise in its fiscal third-quarter earnings.

Equities Trading UP
Walter Energy (NYSE: WLT) shot up 15.04 percent to $13.46 after Morgan Stanley defended the stock.

Shares of FLIR Systems (NASDAQ: FLIR) got a boost, shooting up ...

HotelTonight's CEO Sam Shank And Last-Minute Booking

Jason Cunningham — Tue, 18 Jun 2013 16:05:14 +0000

You're on the go. It's last-minute. You're traveling somewhere and you need a hotel fast. Enter HotelTonight. Their CEO and co-founder Sam Shank appeared on CNBC Squawk Box on Tuesday morning to talk about the company's innovation on finding a hotel.

HotelTonight is an app that offers cheap, quality hotel rooms at the last minute in 12 countries and over a 100 destinations. Shank said that they were built from the ground up on mobile devices, with their sole focus on on-demand hotels.

But now...

"What we really focus on is inspiring people to be more spontaneous and to create more primary demand for the industry and for hotels," said Shank.

Shank said that they're ...

Harvard Business School's Nitin Nohria Has Three Important Numbers

Jason Cunningham — Tue, 18 Jun 2013 14:48:20 +0000

Nitin Nohria, dean of Harvard Business School, appeared on CNBC's Squawk Box Tuesday Morning where he discussed what the United States needs to assure economic competitiveness on a global scale.

Nohria went through the first process of moving out of the recession and pushing into a sustained recovery, saying that there are three numbers America should be focused on. What are the big three?

According to Nohria, those numbers are: inflation staying under two percent, unemployment staying below six percent, and GDP growth rates maintaining three percent.

Nohria said that If the policy of quantitative easing continues until we get to the stage where all of those numbers remain consistent, then the U.S. will will be at a point of a sustained recovery.

"We shouldn't be satisfied with just a sustained recovery because the problems that we have in the country that relate to our competitiveness go well beyond the current recession. They are structural issues, they are ...

Mid-Morning Market Update: Markets Open Higher, FactSet Research Q3 Profit Up 11%

Jake L'Ecuyer — Tue, 18 Jun 2013 14:40:46 +0000

Following the market opening Tuesday, the Dow traded up 0.32 percent to 15,228.62 while the NASDAQ surged 0.27 percent to 3,461.48. The S&P also rose, gaining 0.18 percent to 1,641.91.

Top Headline
FactSet Research Systems (NYSE: FDS) reported an 11% rise in its fiscal third-quarter earnings.

Equities Trading UP
Walter Energy (NYSE: WLT) shot up 6.07 percent to $12.41 after Morgan Stanley defended the stock.

Shares of FLIR Systems (NASDAQ: FLIR) got a ...

Benzinga Market Primer: Tuesday, June 18

Matthew Kanterman — Tue, 18 Jun 2013 10:20:56 +0000

Futures Edge Higher In Calm Before the Storm

U.S. equity futures rose slightly in pre-market trade Tuesday as investors eagerly awaited the FOMC decision and statement Wednesday. Monday trading was a whip-saw marked by a steep sell-off over tapering fears.

Top News

In other news around the markets:

The German ZEW Economic Sentiment Index rose to 38.5, beating expectations of a reading of 38.1 and better than the prior 36.4.
European Central Bank President spoke in Jerusalem overnight and hinted that the LTRO operations could be extended as a means of providing additional bank liquidity. Speculation had grown that the ECB could do this however it is the first time Draghi has addressed it directly.
European car sales fell to a 20-year low in May as new car registrations fell to 1.08 million from 1.15 million a year ago. Sales at General Motors (NYSE: GM) fell over 10 percent.
S&P 500 futures rose 2.8 points to 1,636.50.
The EUR/USD was higher at 1.3396.
Spanish 10-year government bond yields fell 1 basis point to 4.57 percent.
Italian 10-year government bond yields fell 1 basis point to 4.26 percent.
Gold fell 0.41 percent to $1,377.40 per ounce.

Asian Markets

Asian shares were mixed overnight in unusually quiet trading as markets eagerly anticipate the Fed's decision, the proverbial calm before the storm. ...

Mid-Afternoon Market Update: Markets Cooling Off as Ruckus Rallies

Jake L'Ecuyer — Mon, 17 Jun 2013 19:27:03 +0000

Toward the end of trading Monday, the Dow traded up 0.38 percent to 15,129.28 while the NASDAQ surged 0.52 percent to 3,441.90. The S&P also rose, gaining 0.35 percent to 1,632.83.

Top Headline
Time Warner's (NYSE: TWX) Man of Steel, the relaunch of the Superman movie series, became the second-most successful movie of the year after the film made $113 million in its first weekend, behind only Iron Man 3.

Equities Trading UPbr> DreamWorks Animation SKG (NASDAQ: DWA) shot up 4.03 percent to $23.73 after Netflix (NASDAQ: NFLX) signed a multi-year deal with the company.

Shares of Ruckus Wireless (NYSE: RKUS) were up as well, gaining 8.80 percent to $11.62 after news that the company was involved in a patent infringement suit ...

Mid-Day Market Update: Terex Tumbles On Weak Forecast, Netflix Spikes Higher

Jake L'Ecuyer — Mon, 17 Jun 2013 16:55:10 +0000

Midway through trading Monday, the Dow traded up 1.08 percent to 15,233.28 while the NASDAQ surged 1.18 percent to 3,463.90. The S&P also rose, gaining 0.99 percent to 1,642.83.

Equities Trading UP
DreamWorks Animation SKG (NASDAQ: DWA) shot up 4.38 percent to $23.81 after Netflix (NASDAQ: NFLX) signed a multi-year deal with the company.

Shares of Weyerhaeuser Co (NYSE: WY) got a boost, shooting up 2.19 percent to $28.91 after the company announced a public offering of 28,000,000 of its common shares. The company also announced its plans ...

From The Paris Air Show: United Technologies CEO Louis Chênevert

Jason Cunningham — Mon, 17 Jun 2013 15:47:44 +0000

CEO of United Technologies (NYSE: UTX) Louis Chênevert appeared on CNBC's Squawk Box from the Paris Air Show where he talked about their Goodrich acquisition, Embraer (NYSE: ERJ) securing an order for 300 new regional jets that feature subsidiary Pratt & Whitney's geared turbofan engines, and their components on other various airplane models.

"Our Goodrich acquisition has been fantastic. We've announced integration a year ago. It's going to already be a year of integration. The people all mesh well together. The savings for the costumer are coming through. It's been a transformational acquisition for United Technology,"

According to him, "there's necessity for more consolidation in the industry."

He said that you need to have scale to properly ...

From The Paris Air Show: Barclays' Carter Copeland On Boeing 77x vs. Airbus A350

Jason Cunningham — Mon, 17 Jun 2013 14:40:51 +0000

Carter Copeland, Barclays' (NYSE: BCS) equity research analyst covering global aerospace, appeared on CNBC's Squawk Box Monday morning live from the Paris Air Show, where he discussed the battle for buyers between the Boeing (NYSE: BA) 77x and the Airbus A350.

According to Copeland, there doesn't have to be a winner or a loser between the two aerospace companies.

"I think one of the things we find in the wide-body market today is there's sufficient demand for all of the fuel efficient replacement airplanes out there. I think the demands of costumers are differentiated enough on the wide-body market that from an investor's perspective, both companies could actually produce sufficient numbers of airplanes for both of these programs to make a ...

Mid-Morning Market Update: Markets Surge, Time Warner's Man of Steel Earns $113M

Jake L'Ecuyer — Mon, 17 Jun 2013 14:25:13 +0000

Following the market opening Monday, the Dow traded up 1.06 percent to 15,229.23 while the NASDAQ surged 1.03 percent to 3,458.72. The S&P also rose, gaining 0.91 percent to 1,641.49.

Equities Trading UP
DreamWorks Animation SKG (NASDAQ: DWA) shot up 7.52 percent to $24.52 after Netflix (NASDAQ: NFLX) signed a multi-year deal with the company.

Shares of Weyerhaeuser Co (NYSE: WY) got a boost, shooting up 3.27 percent to $29.22 after the company announced a public offering of 28,000,000 of its common shares. The company also announced its plans to buy Longview ...