Pre Market

A lot of earning reports , some misses and disappointments. Texas Instruments, DuPont Co. and Countrywide were some of the big misses. Lockheed Martin was one of the bright spots from with great earnings due high demand for fighter jets, missile defense and information technology. McDonalds swung to a 2Q loss due to a one time charge. American Express failed to impress as increased delinquencies has investors worried. AT&T posted a 61% profit increase though investors which also failed impress.

Earnings

Economic Calendar


Apple has been downgraded this morning and shares are under pressure. Many analysts have $200+ price targets on AAPL.

Netflix got beaten over its earnings and lowered outlook. I think NFLX is a decent buy under $17. There is a good chance it will be bought out.

Stocks I am keeping a close watch on include GOOG AAPL RIMM GRMN AMZN MSFT CSCO C GS BAC XOM GE IBM . How these stocks fare has a huge impact on the overall market.