ARN Daily Basic: Daily Analysts’ Updates for 7/25/2014

Analysts’ Upgrades

  • Ameris Bancorp (NASDAQ:ABCB) was upgraded by analysts at Sandler O’Neill from a “hold” rating to a “buy” rating. Previous closing price of $21.06. Tweet This.
  • Bodycote PLC (LON:BOY) was upgraded by analysts at Berenberg Bank to a “buy” rating. They now have a GBX 776 ($13.26) price target on the stock, up previously from GBX 759 ($12.97). Tweet This.
  • Popular Inc (NASDAQ:BPOP) was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating. They now have a $39.00 price target on the stock, up previously from $37.00. 14.9% upside from the previous close of $33.94. Tweet This.
  • Cabelas Inc (NYSE:CAB) was upgraded by analysts at Dawson James from a “neutral” rating to a “buy” rating. They now have a $72.00 price target on the stock. 24.5% upside from the previous close of $57.85. Tweet This.
  • Cabelas Inc (NYSE:CAB) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $72.00 price target on the stock. 24.5% upside from the previous close of $57.85. Tweet This.
  • Cameron International Co. (NYSE:CAM) was upgraded by analysts at Global Hunter Securities from a “neutral” rating to an “accumulate” rating. They now have a $80.00 price target on the stock, up previously from $68.00. 10.4% upside from the previous close of $72.44. Tweet This.
  • Ntt Docomo (NYSE:DCM) was upgraded by analysts at Nomura from a “neutral” rating to a “buy” rating. Previous closing price of $17.57. Tweet This.
  • Deckers Outdoor Corp (NASDAQ:DECK) was upgraded by analysts at Jefferies Group from a “hold” rating to a “buy” rating. They now have a $130.00 price target on the stock, up previously from $78.00. 52.5% upside from the previous close of $85.23. Tweet This.
  • De La Rue plc (LON:DLAR) was upgraded by analysts at Numis Securities Ltd to an “add” rating. They now have a GBX 845 ($14.44) price target on the stock. Tweet This.
  • Edison International (NYSE:EIX) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating. They now have a $65.00 price target on the stock. They noted that the move was a valuation call. 14.1% upside from the previous close of $56.96. Tweet This.
  • Flowserve Corp (NYSE:FLS) was upgraded by analysts at Maxim Group from a “hold” rating to a “buy” rating. They now have a $92.00 price target on the stock. 20.4% upside from the previous close of $76.43. Tweet This.
  • Gildan Activewear Inc (NYSE:GIL) was upgraded by analysts at RBC Capital from a “sector perform” rating to an “outperform” rating. Previous closing price of $60.93. Tweet This.
  • Great-West Lifeco Inc. (TSE:GWO) was upgraded by analysts at Canaccord Genuity to a “hold” rating. Tweet This.
  • IMAX Co. (NASDAQ:IMAX) was upgraded by analysts at Benchmark Co. from a “hold” rating to a “buy” rating. Previous closing price of $25.80. Tweet This.
  • Integrated Silicon Solution Inc. (NASDAQ:ISSI) was upgraded by analysts at Feltl & Co. from a “hold” rating to a “buy” rating. They now have a $17.50 price target on the stock, up previously from $15.50. 17.9% upside from the previous close of $14.84. Tweet This.
  • Logitech International SA (NASDAQ:LOGI) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $15.00 price target on the stock, up previously from $13.50. 1.8% downside from the previous close of $15.28. Tweet This.
  • Marston’s PLC (LON:MARS) was upgraded by analysts at Beaufort Securities to a “buy” rating. Tweet This.
  • Northern Trust Co. (NASDAQ:NTRS) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $67.00 price target on the stock, up previously from $59.50. 0.2% downside from the previous close of $67.11. Tweet This.
  • Overstock.com Inc. (NASDAQ:OSTK) was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $22.00 price target on the stock, up previously from $19.00. 35.9% upside from the previous close of $16.19. Tweet This.
  • Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating. They now have a $22.00 price target on the stock, up previously from $20.00. 28.9% upside from the previous close of $17.07. Tweet This.
  • Primero Mining Corp (NYSE:PPP) was upgraded by analysts at Cantor Fitzgerald from a “hold” rating to a “buy” rating. Previous closing price of $7.45. Tweet This.
  • Patterson-UTI Energy, Inc. (NASDAQ:PTEN) was upgraded by analysts at Credit Agricole from a “sell” rating to an “outperform” rating. They now have a $43.00 price target on the stock, up previously from $33.00. 15.0% upside from the previous close of $37.39. Tweet This.
  • Patterson-UTI Energy, Inc. (NASDAQ:PTEN) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $44.00 price target on the stock. 17.7% upside from the previous close of $37.39. Tweet This.
  • Swift Transportation Co (NASDAQ:SWFT) was upgraded by analysts at Avondale Partners from a “market perform” rating to an “outperform” rating. Previous closing price of $25.81. Tweet This.
  • Tristate Capital Holdings Inc (NYSE:TSC) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating. Previous closing price of $10.16. Tweet This.
  • Verisign, Inc. (NASDAQ:VRSN) was upgraded by analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating. They now have a $50.00 price target on the stock, up previously from $48.00. 0.3% upside from the previous close of $49.83. Tweet This.
  • Get today’s most recent analysts’ upgrades at AnalystRatings.net

Analysts’ Downgrades

  • Barrick Gold Co. (NYSE:ABX) was downgraded by analysts at HSBC from a “neutral” rating to an “underweight” rating. Previous closing price of $18.30. Tweet This.
  • Agnico Eagle Mines Ltd (NYSE:AEM) was downgraded by analysts at HSBC from a “neutral” rating to an “underweight” rating. Previous closing price of $40.75. Tweet This.
  • Amazon.com, Inc. (NASDAQ:AMZN) was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “neutral” rating. They now have a $322.35 price target on the stock. 10.1% downside from the previous close of $358.61. Tweet This.
  • Amazon.com, Inc. (NASDAQ:AMZN) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating. Previous closing price of $358.61. Tweet This.
  • Amazon.com, Inc. (NASDAQ:AMZN) was downgraded by analysts at CRT Capital from a “buy” rating to a “fair value” rating. Previous closing price of $358.61. Tweet This.
  • Amazon.com, Inc. (NASDAQ:AMZN) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating. They now have a $350.00 price target on the stock, down previously from $425.00. They noted that the move was a valuation call. 2.4% downside from the previous close of $358.61. Tweet This.
  • Amazon.com, Inc. (NASDAQ:AMZN) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating. They now have a $400.00 price target on the stock, down previously from $420.00. 11.5% upside from the previous close of $358.61. Tweet This.
  • Yamana Gold Inc. (NYSE:AUY) was downgraded by analysts at HSBC from a “neutral” rating to an “underweight” rating. Previous closing price of $8.11. Tweet This.
  • BreitBurn Energy Partners L.P. (NASDAQ:BBEP) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating. Previous closing price of $22.23. Tweet This.
  • Brightcove Inc (NASDAQ:BCOV) was downgraded by analysts at RBC Capital from an “outperform” rating to a “sector perform” rating. They now have a $13.00 price target on the stock, up previously from $9.00. 26.6% upside from the previous close of $10.27. Tweet This.
  • Brightcove Inc (NASDAQ:BCOV) was downgraded by analysts at Raymond James from a “strong-buy” rating to a “market perform” rating. Previous closing price of $10.27. Tweet This.
  • Brightcove Inc (NASDAQ:BCOV) was downgraded by analysts at Pacific Crest from an “outperform” rating to a “sector perform” rating. Previous closing price of $10.27. Tweet This.
  • Brightcove Inc (NASDAQ:BCOV) was downgraded by analysts at Dougherty & Co from a “buy” rating to a “neutral” rating. Previous closing price of $10.27. Tweet This.
  • Brightcove Inc (NASDAQ:BCOV) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating. They now have a $7.50 price target on the stock, down previously from $15.00. 27.0% downside from the previous close of $10.27. Tweet This.
  • Cabelas Inc (NYSE:CAB) was downgraded by analysts at Monness Crespi & Hardt from a “buy” rating to a “neutral” rating. Previous closing price of $57.85. Tweet This.
  • Caterpillar Inc. (NYSE:CAT) was downgraded by analysts at Susquehanna from a “positive” rating to a “neutral” rating. Previous closing price of $105.04. Tweet This.
  • Crown Castle International Corp. (NYSE:CCI) was downgraded by analysts at Pacific Crest from an “outperform” rating to a “sector perform” rating. Previous closing price of $73.83. Tweet This.
  • Cameco Co. (NYSE:CCJ) was downgraded by analysts at Cantor Fitzgerald from a “buy” rating to a “hold” rating. Previous closing price of $21.30. Tweet This.
  • Centene Corp (NYSE:CNC) was downgraded by analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating. Previous closing price of $79.64. Tweet This.
  • Cabot Oil & Gas Co. (NYSE:COG) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $43.00 price target on the stock. 30.0% upside from the previous close of $33.07. Tweet This.
  • Credit Suisse (NYSE:CS) was downgraded by analysts at Macquarie from a “neutral” rating to an “underperform” rating. Previous closing price of $28.76. Tweet This.
  • Contrans Group Inc (TSE:CSS) was downgraded by analysts at RBC Capital to a “sector perform” rating. They now have a C$14.60 price target on the stock, down previously from C$17.00. 0.9% downside from the previous close of $14.74. Tweet This.
  • Constellium NV (NASDAQ:CSTM) was downgraded by analysts at Goldman Sachs from a “conviction-buy” rating to a “buy” rating. Previous closing price of $31.73. Tweet This.
  • Cenovus Energy Inc (TSE:CVE) was downgraded by analysts at Barclays to an “equal weight” rating. Tweet This.
  • Cenovus Energy Inc (NYSE:CVE) was downgraded by analysts at Barclays from an “overweight” rating to an “equal weight” rating. Previous closing price of $31.08. Tweet This.
  • Clayton Williams Energy, Inc. (NASDAQ:CWEI) was downgraded by analysts at Global Hunter Securities from a “buy” rating to an “accumulate” rating. They now have a $145.00 price target on the stock, down previously from $160.00. 9.0% upside from the previous close of $133.02. Tweet This.
  • D.R. Horton, Inc. (NYSE:DHI) was downgraded by analysts at MKM Partners from a “buy” rating to a “neutral” rating. They now have a $24.00 price target on the stock, down previously from $27.00. 9.4% upside from the previous close of $21.94. Tweet This.
  • Drax Group Plc (LON:DRX) was downgraded by analysts at Societe Generale to a “sell” rating. They now have a GBX 630 ($10.77) price target on the stock, down previously from GBX 680 ($11.62). Tweet This.
  • EQT Co. (NYSE:EQT) was downgraded by analysts at ISI Group from a “strong-buy” rating to a “buy” rating. They now have a $115.00 price target on the stock. 10.4% upside from the previous close of $104.18. Tweet This.
  • Fibria Celulose SA (ADR) (NYSE:FBR) was downgraded by analysts at Credit Suisse from a “neutral” rating to an “underperform” rating. Previous closing price of $10.15. Tweet This.
  • GulfMark Offshore, Inc. (NYSE:GLF) was downgraded by analysts at RS Platou from a “neutral” rating to a “sell” rating. They now have a $38.00 price target on the stock. 4.3% downside from the previous close of $39.72. Tweet This.
  • General Motors Company (NYSE:GM) was downgraded by analysts at Credit Agricole from a “buy” rating to an “outperform” rating. They now have a $40.00 price target on the stock, down previously from $45.00. 11.9% upside from the previous close of $35.74. Tweet This.
  • General Motors Company (NYSE:GM) was downgraded by analysts at Deutsche Bank from a “buy” rating to a “hold” rating. They now have a $41.00 price target on the stock, up previously from $34.93. 14.7% upside from the previous close of $35.74. Tweet This.
  • Randgold Resources Ltd. (ADR) (NASDAQ:GOLD) was downgraded by analysts at HSBC from a “neutral” rating to an “underweight” rating. Previous closing price of $85.78. Tweet This.
  • Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT) was downgraded by analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating. Previous closing price of $79.11. Tweet This.
  • Informatica Co. (NASDAQ:INFA) was downgraded by analysts at Credit Suisse from an “outperform” rating to a “neutral” rating. Previous closing price of $34.93. Tweet This.
  • Informatica Co. (NASDAQ:INFA) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $36.00 price target on the stock, down previously from $45.00. 3.1% upside from the previous close of $34.93. Tweet This.
  • Informatica Co. (NASDAQ:INFA) was downgraded by analysts at Susquehanna from a “positive” rating to a “neutral” rating. Previous closing price of $34.93. Tweet This.
  • Interpublic Group of Companies Inc (NYSE:IPG) was downgraded by analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating. Previous closing price of $20.15. Tweet This.
  • Kingfisher plc (ADR) (NASDAQ:KGFHY) was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. Previous closing price of $10.65. Tweet This.
  • Liberty Property Trust (NYSE:LPT) was downgraded by analysts at Oppenheimer from an “outperform” rating to a “market perform” rating. They now have a $42.00 price target on the stock. 14.4% upside from the previous close of $36.71. Tweet This.
  • Life Time Fitness Inc. (NYSE:LTM) was downgraded by analysts at Feltl & Co. from a “strong-buy” rating to a “buy” rating. Previous closing price of $41.26. Tweet This.
  • Maxim Integrated Products Inc. (NASDAQ:MXIM) was downgraded by analysts at MKM Partners from a “buy” rating to a “neutral” rating. They now have a $30.00 price target on the stock. 8.9% downside from the previous close of $32.94. Tweet This.
  • Mylan Inc (NYSE:MYL) was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $57.00 price target on the stock, down previously from $61.00. 9.8% upside from the previous close of $51.89. Tweet This.
  • National Retail Properties, Inc. (NYSE:NNN) was downgraded by analysts at Ladenburg Thalmann from a “buy” rating to a “neutral” rating. Previous closing price of $37.24. Tweet This.
  • NetGear, Inc. (NASDAQ:NTGR) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating. Previous closing price of $34.76. Tweet This.
  • Precision Castparts Corp. (NYSE:PCP) was downgraded by analysts at Goldman Sachs from a “conviction-buy” rating to a “buy” rating. Previous closing price of $236.21. Tweet This.
  • Petrofac Limited (LON:PFC) was downgraded by analysts at Societe Generale to a “hold” rating. They now have a GBX 1,220 ($20.85) price target on the stock, down previously from GBX 1,480 ($25.29). Tweet This.
  • Questcor Pharmaceuticals Inc (NASDAQ:QCOR) was downgraded by analysts at Oppenheimer from an “outperform” rating to a “market perform” rating. They now have a $86.00 price target on the stock. 11.3% downside from the previous close of $96.99. Tweet This.
  • QR Energy LP (NYSE:QRE) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating. Previous closing price of $20.59. Tweet This.
  • Royal Caribbean Cruises Ltd. (NYSE:RCL) was downgraded by analysts at Danske Bank from a “buy” rating to a “hold” rating. Previous closing price of $60.56. Tweet This.
  • Royal Caribbean Cruises Ltd. (NYSE:RCL) was downgraded by analysts at DNB Markets to a “hold” rating. Previous closing price of $60.56. Tweet This.
  • Rexam PLC (LON:REX) was downgraded by analysts at Jefferies Group to a “hold” rating. They now have a GBX 550 ($9.40) price target on the stock. Tweet This.
  • Rexam PLC (ADR) (NASDAQ:REXMY) was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating. Previous closing price of $44.86. Tweet This.
  • Royal Gold, Inc USA) (NASDAQ:RGLD) was downgraded by analysts at HSBC from a “neutral” rating to an “underweight” rating. They now have a $71.00 price target on the stock. 7.2% downside from the previous close of $76.50. Tweet This.
  • Sagent Pharmaceuticals Inc (NASDAQ:SGNT) was downgraded by analysts at S&P Equity Research from a “buy” rating to a “neutral” rating. They now have a $28.00 price target on the stock, up previously from $25.00. 5.0% upside from the previous close of $26.66. Tweet This.
  • Sagent Pharmaceuticals Inc (NASDAQ:SGNT) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating. They now have a $28.00 price target on the stock, up previously from $25.00. 5.0% upside from the previous close of $26.66. Tweet This.
  • Spectris plc (LON:SXS) was downgraded by analysts at Numis Securities Ltd to a “hold” rating. They now have a GBX 2,300 ($39.30) price target on the stock. Tweet This.
  • NASDAQ (NASDAQ:THESTREET) was downgraded by analysts at Morningstar from a “buy” rating to a “hold” rating. Tweet This.
  • Domtar Corp (NYSE:UFS) was downgraded by analysts at RBC Capital from a “top pick” rating to an “outperform” rating. They now have a $54.00 price target on the stock, down previously from $65.00. 39.8% upside from the previous close of $38.64. Tweet This.
  • WellCare Health Plans, Inc. (NYSE:WCG) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating. Previous closing price of $76.85. Tweet This.
  • WellCare Health Plans, Inc. (NYSE:WCG) was downgraded by analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating. Previous closing price of $76.85. Tweet This.
  • Exxon Mobil Co. (NYSE:XOM) was downgraded by analysts at Barclays from an “equal weight” rating to an “underweight” rating. They now have a $105.00 price target on the stock, up previously from $100.00. 0.7% upside from the previous close of $104.28. Tweet This.
  • Yandex NV (NASDAQ:YNDX) was downgraded by analysts at Raiffeisen Bank from a “buy” rating to a “hold” rating. Previous closing price of $31.19. Tweet This.
  • Get today’s most recent analysts’ downgrades at Analyst Ratings.net

Analysts’ New Coverage

  • Amazon.com, Inc. (NASDAQ:AMZN) is now covered by analysts at Citigroup Inc.. They set an “in-line” rating on the stock. Previous closing price of $358.61. Tweet This.
  • BreitBurn Energy Partners L.P. (NASDAQ:BBEP) is now covered by analysts at Credit Suisse. They set a “neutral” rating on the stock. Previous closing price of $22.23. Tweet This.
  • Baidu Inc (ADR) (NASDAQ:BIDU) is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $245.00 price target on the stock. 19.9% upside from the previous close of $204.27. Tweet This.
  • Global Invacom Group Limited (LON:GINV) is now covered by analysts at FinnCap. They set a “corporate” rating and a GBX 29 ($0.50) price target on the stock. Tweet This.
  • Sungy Mobile Ltd (NASDAQ:GOMO) is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $11.80 price target on the stock. 0.3% downside from the previous close of $11.84. Tweet This.
  • Iconix Brand Group Inc (NASDAQ:ICON) is now covered by analysts at Cowen and Company. They set an “outperform” rating and a $52.00 price target on the stock. 21.9% upside from the previous close of $42.66. Tweet This.
  • Interserve plc (LON:IRV) is now covered by analysts at Berenberg Bank. They set a “buy” rating and a GBX 750 ($12.82) price target on the stock. Tweet This.
  • Mitchells & Butlers plc (LON:MAB) is now covered by analysts at Beaufort Securities. They set a “buy” rating on the stock. Tweet This.
  • Monolithic Power Systems, Inc. (NASDAQ:MPWR) is now covered by analysts at Evercore Partners. They set an “overweight” rating and a $50.00 price target on the stock. 21.7% upside from the previous close of $41.10. Tweet This.
  • NetEase, Inc (ADR) (NASDAQ:NTES) is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $87.60 price target on the stock. 3.5% upside from the previous close of $84.63. Tweet This.
  • Ophthotech Corp (NASDAQ:OPHT) is now covered by analysts at Goldman Sachs. They set a “neutral” rating and a $44.00 price target on the stock. 10.0% upside from the previous close of $40.00. Tweet This.
  • Ophthotech Corp (NASDAQ:OPHT) is now covered by analysts at Gabelli. They set a “buy” rating on the stock. Previous closing price of $40.00. Tweet This.
  • Petroquest Energy Inc (NYSE:PQ) is now covered by analysts at Imperial Capital. They set an “in-line” rating and a $8.00 price target on the stock. 17.1% upside from the previous close of $6.83. Tweet This.
  • Perfect World Co., Ltd. (NASDAQ:PWRD) is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $20.74 price target on the stock. 0.5% downside from the previous close of $20.84. Tweet This.
  • QR Energy LP (NYSE:QRE) is now covered by analysts at Credit Suisse. They set an “outperform” rating on the stock. Previous closing price of $20.59. Tweet This.
  • Ricardo plc (LON:RCDO) is now covered by analysts at Berenberg Bank. They set a “buy” rating and a GBX 735 ($12.56) price target on the stock. Tweet This.
  • Ram Resources Ltd (ASX:RMR) is now covered by analysts at Hartley’s Research. They set a “buy” rating on the stock. Tweet This.
  • Topps Tiles Plc (LON:TPT) is now covered by analysts at Berenberg Bank. They set a “buy” rating and a GBX 170 ($2.90) price target on the stock. Tweet This.
  • Torstar Co. (TSE:TS.B) is now covered by analysts at TD Securities. They set a “hold” rating and a C$8.00 price target on the stock. Tweet This.
  • 2U Inc (NASDAQ:TWOU) is now covered by analysts at Barrington Research. They set an “outperform” rating and a $20.00 price target on the stock. 47.5% upside from the previous close of $13.56. Tweet This.
  • 2U Inc (NASDAQ:TWOU) is now covered by analysts at Credit Suisse. They set an “outperform” rating and a $20.00 price target on the stock. 47.5% upside from the previous close of $13.56. Tweet This.
  • Vital Therapies Inc (NYSE:VTL) is now covered by analysts at Credit Suisse. They set a “buy” rating and a $40.00 price target on the stock. 50.9% upside from the previous close of $26.50. Tweet This.
  • Workday Inc (NASDAQ:WDAY) is now covered by analysts at Burke & Quick. They set an “outperform” rating and a $93.00 price target on the stock. 13.5% upside from the previous close of $81.96. Tweet This.
  • Get today’s most recent analysts’ new coverage at Analyst Ratings.net

Quartz Weekend Brief—China v Japan, streaming music wars, Putin’s bubble, operatic racism

Quartz - qz.com
Good morning, Quartz readers!

While the the kinetic conflict in Ukraine and the Middle East have dominated this week’s news, a more subtle contest, between China and Japan, has been playing out on an unlikely stage: Latin America. The leaders of Asia’s two largest economies have been hopping across the region, seeking or cementing political alliances as well as new business deals.

Barely had Chinese president Xi Jinping headed home from a week-long trip to Brazil, Argentina, Venezuela and Cuba, when Japanese prime minister Shinzo Abe started his 11-day swing, which will take in Mexico, Trinidad & Tobago, Colombia, Chile and Brazil.

The Chinese media quickly declared Xi’s visit a grand success. The People’s Daily said it “not only fostered closer economic ties, but also led to many commercial contracts.” Expect similar triumphant proclamations from the Japanese media at the end of Abe’s trip.

While both Japan and China want stronger economic ties to a region rich in resources, they are also keen to broaden the nature of their relationships. Xi wants China to be seen as a major player in world affairs, and that means more than striking business deals. Abe is seeking international support for Japan’s long-standing ambition of joining the UN Security Council.  And although Latin America is an ocean away from the main theater of Sino-Japanese friction, the East China Sea, each leader is seeking sympathetic ears for his complaints about the other.

For Latin American nations, the heightened attention from the world’s second and third-largest economies is mostly welcome. But in political and territorial disputes, nobody really wants to pick sides between Beijing and Tokyo. Business deals will receive enthusiasm and fanfare; for the rest, polite nodding is the order of the day.—Bobby Ghosh

Five things on Quartz we especially liked

Who will win the streaming music wars? Will Spotify beat Pandora? Will Deezer surge ahead? Or will they all be swallowed up or steamrollered by a loss-leading music division of Apple, Amazon or Google? John McDuling examines the dynamics of a fragmented industry where only one or two big winners are likely to remain.

How to deal with opera’s inherent racism. A recent Seattle production of The Mikado is eliciting anger over “yellowface,” meaning white performers made up to look Japanese. Gwynn Guilford explores the history of the ethnic parodies that underpin many operas—and some ideas about how directors can treat them in a more modern way.

Ways for the West to put pressure on Russia. Gazprom, Russia’s gas monopoly, is losing its dominance as the state’s foreign-policy tool, but sanctions aimed at it could still bring pressure to bear, Steve LeVine writes. And Tim Fernholz explains how the Netherlands, as one of the chief offshore financial centers for Russian money, could do a little squeezing of its own.

Why Google will remain the king of search. The company’s share of US search queries continues to inch up, and its competitors are far behind. But as Dan Frommer explains, search is such a huge business that it makes more sense to start smaller search engines for specific niches than challenge Google head-on.

The US catches some of the world’s best salmon but eats some of the worst. Why are Americans eating bland, imported, farmed salmon when they could be feasting on the superb wild catches from their own rivers? Gwynn Guilford teases apart a paradox that’s the result of a curious mix of taste and economic history.

Five things elsewhere that made us smarter

A peek inside Putin’s bubble. Over several years of reporting, Ben Judah spoke with a wide range of current and former members of Vladimir Putin’s inner circle, assembling an engrossing, impressionistic account of the inscrutable Russian president’s daily routine for Newsweek. He paints a picture largely of monotony, paranoia, and isolation. “There are no stories of extravagance: only of loneliness.”

Le tour de malaise. In Der Spiegel, Alexander Smoltczyk traces the route of this year’s Tour de France, but cycling is not on his mind. He is on the road to chronicle the “new sick man of Europe,” speaking with anyone he bumps into about the “deep gloom” that seems to be gripping France. “The state is sick, the economy is sick, its education is sick and it is sick from an excessively glorified past that won’t go away,” says one particularly disgruntled Frenchman.

How John Kerry’s Middle East peace plan crumbled. This impressively detailed account of a year of diplomacy from Ben Birnbaum and Amir Tibon in the New Republic is a microcosm of every set of Israeli-Palestinian peace talks ever held, and shows the distrust, back-stabbing and communication breakdowns that have caused them to run aground.

Seeing war through food. National-security writer John Little interviews celebrity chef and TV host Anthony Bourdain, who has made an art of reporting on the cuisine of conflict zones. “Most people seem to be pretty nice—basically good people doing the best they can,” Bourdain says. “There is rarely, however, a neat takeaway. You have to learn to exercise a certain moral relativity.”

Where restaurant reservations come from. From, umm… the need to book a restaurant, right? The seemingly silly question has a much more complicated answer, discovers Alexis Madrigal in the Atlantic—probably stemming from the 19th century, when private rooms in restaurants were the place unmarried men and women could meet without offending public decency.

Our best wishes for a relaxing but thought-filled weekend. Please send any news, comments, war recipes, and Putin anecdotes to hi@qz.com. You can follow us on Twitter here for updates throughout the day.

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Key Market Reports and Commentary for Friday 25/07/2014

Morning Markets Report
Prepared on Friday, July 25, 2014

Copyright 2014 INO.com. All Rights Reserved.

Summary
The Dow Future is trending lower 15 points to 16983. The US Dollar Index edged higher by 0.080 points to 80.948. Gold has gained 2.98 dollars to 1295.38. Silver is higher 0.060 dollars to 20.495. The Dow Industrials dropped 2.83 points, at 17083.80, while the S&P 500 gained 0.97 points, last seen at 1987.98. The Nasdaq Composite moved lower 0.23 points to 4473.47. Streaming charts of these markets are available 24/7 at MarketClub

Blog Postings and Videos
Three Reasons Why Gold and Gold Stocks Will Rise
Thursday Jul 24th

Have Natural Gas Prices Hit Bottom?
Thursday Jul 24th

I Know Where You Can Find Winning Stocks To Trade
Wednesday Jul 23rd

Key Events for Friday

8:30 AM ET. June Advance Report on Durable Goods

Total Orders (expected +0.5%; previous -1%)

Orders, Ex-Defense (previous +0.6%)

Orders, Ex-Transportation (previous -0.1%)


 

Currencies Snapshot
Symbol Last Change %
US DOLLAR INDEX 80.948 +0.080 +0.10%
POWERSHARES DB US DOLLAR INDEX 21.575 +0.025 +0.12%
US Dollar/Canadian Dollar 1.075850 +0.001515 +0.14%
Euro/US Dollar 1.34497 -0.00153 -0.11%
JAPANESE YEN Sep 2014 0.009815 -0.000008 -0.08%
SWISS FRANC Sep 2014 1.1069 -0.0013 -0.12%

CURRENCIES

The September Dollar closed higher on Thursday as it extends this month’s rally. The high-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this month’s rally, June’s high crossing at 81.17 is the next upside target. Closes below the 20-day moving average crossing at 80.35 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 80.98. Second resistance is June’s high crossing at 81.17. First support is the 10-day moving average crossing at 80.60. Second support is the 20-day moving average crossing at 80.35. Third support is the reaction low crossing at 80.02.

The September Euro closed slightly higher on Thursday as it consolidates some of the decline off this month’s high. The mid-range close sets the stage for a steady opening when Friday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this month’s decline, the 50% retracement level of the 2013-2014-rally crossing at 134.10 is the next downside target. Closes above the 20-day moving average crossing at 135.84 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 135.30. Second resistance is the 20-day moving average crossing at 135.84. First support is today’s low crossing at 134.39. Second support is the 50% retracement level of the 2013-2014-rally crossing at 134.10.

The September British Pound closed sharply lower on Thursday and spiked below the 2013-2014-uptrend line crossing near 1.6959. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off last week’s high, the reaction low crossing at 1.6941 is the next downside target. Closes above the 20-day moving average crossing at 1.7098 would confirm that a low has been posted. First resistance is the 20-day moving average crossing at 1.7098. Second resistance is last Tuesday’s high crossing at 1.7184. Third resistance is monthly resistance crossing at 1.7308. First support is today’s low crossing at 1.6959. Second support is the reaction low crossing at 1.6941.

The September Swiss Franc closed unchanged on Thursday and is challenging support marked by June’s low. The mid-range close sets the stage for a steady opening when Thursday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off July’s high, the 38% retracement level of the 2013-2014-rally crossing at 1.1043 is the next downside target. Closes above the 20-day moving average crossing at 1.1184 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.1141. Second resistance is the 20-day moving average crossing at 1.1184. First support is today’s low crossing at 1.1068. Second support is the 38% retracement level of the 2013-2014-rally crossing at 1.1043.

The September Canadian Dollar closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes this month’s decline, the 38% retracement level of the March-July-rally crossing at 91.77 is the next downside target. Closes above the 20-day moving average crossing at 93.34 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 93.34. Second resistance is July’s high crossing at 93.99. First support is the 25% retracement level of the March-July-rally crossing at 92.55. Second support is the 38% retracement level of the March-July-rally crossing at 91.77.

The September Japanese Yen closed sharply lower on Thursday and below the reaction low crossing at .9827 confirming that a short-term top has been posted. Today’s low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If September extends today’s decline, July’s low crossing at .9768 is the next downside target. If September renews the rally off June’s low, May’s high crossing at .9925 is the next upside target. First resistance is last Thursday’s high crossing at .9899. Second resistance is May’s high crossing at .9925. First support is today’s low crossing at .9821. Second support is July’s low crossing at .9768.


 

Energy Snapshot
Symbol Last Change %
CRUDE OIL Sep 2014 101.95 -0.12 -0.12%
NY HARBOR ULSD HEATING OIL Sep 2014 2.8888 +0.0096 +0.33%
NATURAL GAS Sep 2014 3.832 -0.018 -0.47%
RBOB GASOLINE Sep 2014 2.8185 +0.0055 +0.19%
POWERSHARES DWA ENERGY MOMENT 64.780 +0.040 +0.06%
UNITED STATES GASOLINE 58.92 -0.48 -0.81%

ENERGIES

September crude oil closed lower on Thursday and the low-range close sets the stage for a steady to lower opening when Friday’s night session begins. If September extends the rally off July’s low, June’s high crossing at 106.64 is the next upside target. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below the 10-day moving average crossing at 101.54 are needed to confirm that a short-term top has been posted. First resistance is Tuesday’s high crossing at 103.45. Second resistance is June’s high crossing at 106.64. First support is the 10-day moving average crossing at 101.54. Second support is last Tuesday’s low crossing at 98.68.

August heating oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday’s night trading begins. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 287.18 would confirm that a low has been posted. If August resumes this month’s decline, the June 2013 low crossing at 278.50 is the next downside target. First resistance is today’s high crossing at 288.52. Second resistance is the 20-day moving average crossing at 289.57. First support is last Tuesday’s low crossing at 282.58. Second support is the June 2013 low crossing at 278.50.

August unleaded gas closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off June’s high, the 75% retracement level of this year’s rally crossing at 280.40 is the next downside target. Closes above the 20-day moving average crosing at 294.49 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crosing at 288.29. Second resistance is the 20-day moving average crossing at 294.49. First support is today’s low crossing at 282.74. Second support is the 75% retracement level of this year’s rally crossing at 280.40.

August Henry natural gas closed higher due to short covering on Thursday as it consolidates some of this summer’s decline. The high-range close sets the stage for a steady to higher opening when Friday’s session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off June’s high, last November’s low crossing at 3.593 is the next downside target. Closes above the 20-day moving average crossing at 4.141 are needed to confirm that a short-term low has been posted. First resistance is Monday’s gap crossing at 3.934. Second resistance is the 10-day moving average crossing at 3.964. Third resistance is the 20-day moving average crossing at 4.141. First support is today’s low crossing at 3.744. Second support is last November’s low crossing at 3.593.


 

Food Snapshot
Symbol Last Change %
COCOA Sep 2014 3198 0 0.00%
COFFEE Sep 2014 179.15 +0.85 +0.48%
ORANGE JUICE-A Sep 2014 149.80 -3.00 -2.01%
IPATH DJ-UBS SUGAR TRUST 51.49 +0.27 +0.52%
IPATH DJ-UBS SOFTS TRUST 47.29 +0.78 +1.65%

FOOD & FIBER

September coffee closed higher on Thursday as it extends this week’s rally. The high-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this week’s rally, June’s high crossing at 18.49 is the next upside target. Closes below the 10-day moving average crossing at 16.82 would temper the near-term friendly outlook. If September renews this spring’s decline, the 62% retracement level of this winter’s rally crossing at 15.31 is the next downside target.

September cocoa closed higher on Thursday as it extends this year’s rally. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this spring’s rally, monthly resistance crossing at 33.30 is the next upside target. Close below the 20-day moving average crossing at 31.08 would confirm that a top has been posted.

October sugar closed slightly higher on Thursday. The mid-range close set the stage for a steady opening on Friday. Stochastics and the RSI have turned neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 17.47 would confirm that a low has been posted. If October renews this month’s decline, the 75% retracement level of the January-June rally crossing at 16.50 is the next downside target.

December cotton closed sharply lower on Thursday as it extends the decline off May’s high. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible. If December extends this year’s decline, weekly support crossing at 57.00 is the next downside target. Closes above the 20-day moving average crossing at 69.82 would confirm that a short-term low has been posted.


 

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Grains Snapshot
Symbol Last Change %
CORN Dec 2014 366.75 -2.75 -0.74%
OATS Dec 2014 328.25 +2.25 +0.69%
WHEAT Sep 2014 529.25 +0.50 +0.09%
TEUCRIUM CORN 26.110 -0.045 -0.17%
IPATH DJ-UBS GRAINS TRUST 38.795 -0.015 -0.04%
ELEMENTS MLCX GRAINS INDEX TRUST 5.120 0.000 0.00%
SOYBEANS Nov 2014 1076.75 -8.00 -0.74%
SOYBEAN (MINI) Nov 2014 1077.25 -7.50 -0.69%
SOYBEAN MEAL Dec 2014 348.6 -1.4 -0.40%
TEUCRIUM SOYBEAN 22.3800 +0.1835 +0.81%

GRAINS

December Corn closed down 1 1/4-cents at 3.69 1/2.

December corn closed lower on Thursday. The mid-range close sets the stage for a steady opening when Friday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this summer’s decline, monthly support crossing at 3.48 is the next downside target. Closes above the 20-day moving average crossing at 3.98 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.98. Second resistance is the July 7th gap crossing at 4.14 1/2. First support is today’s low crossing at 3.64 1/4. Second support is monthly support crossing at 3.48.

December wheat closed down 4 1/4-cents at 5.50 1/4.

December wheat closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If December extends the decline off May’s high, psychologial support crossing at 5.00 is the next downside target. Closes above the 20-day moving average crossing at 5.74 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 5.74 1/4. Second resistance is last Thursday’s high crossing at 5.84 1/2. First support is Wednesday’s low crossing at 5.44 1/4. Second support is psychologial support crossing at 5.00.

December Kansas City Wheat closed down 2 1/4-cents at 6.34 1/4.

December Kansas City wheat closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off May’s high, January’s low crossing at 6.22 is the next downside target. Closes above the 20-day moving average crossing at 6.68 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 6.45. Second resistance is the 20-day moving average crossing at 6.68. First support is Tuesday’s low crossing at 6.32. Second support is January’s low crossing at 6.22.

December Minneapolis wheat closed down 2 1/2-cents at 6.27 1/4.

December Minneapolis wheat close lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off May’s high, January’s low crossing at 6.25 is the next downside target. Closes above the 20-day moving average crossing at 6.57 1/2 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 6.37 3/4. Second resistance is the 20-day moving average crossing at 6.57 1/2. First support is today’s low crossing at 6.26. Second support is January’s low crossing at 6.25.

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November soybeans closed up 8 1/4-cents at 10.84 3/4.

November soybeans closed higher on Thursday and above the 10-day moving average crossing at 10.81 3/4 signaling that a low might be in or is near. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 11.15 1/2 would confirm that a low has been posted. If November renews the decline off May’s high, weekly support crossing at 10.54 is the next downside target. First resistance is the 20-day moving average crossing at 11.15 1/2. Second resistance is last Thursday’s high crossing at 11.18 3/4. First support is Wednesday’s low crossing at 10.55. Second support is weekly support crossing at 10.54.

December soybean meal closed up $2.70 at 350.00.

December soybean meal closed higher on Thursday. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are diverging and are turning neutral to bullish hinting that a double bottom might have been posted. Closes above the 20-day moving average crossing at 357.80 are needed to confirm that a low has been posted. If December extends the decline off May’s high, January’s low crossing at 337.10 is the next downside target. First resistance is the 20-day moving average crossing at 357.80. Second resistance is last Thursday’s high crossing at 366.60. First support is the reaction low cossing at 340.00. Second support is January’s low crossing at 337.10.

December soybean oil closed unchanged at 36.35.

December soybean oil closed steady on Thursday as it consolidates some of this month’s decline. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible. If December extends this month’s decline, weekly support crossing at 35.87 is the next downside target. Closes above the 20-day moving average crossing at 37.74 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 36.63. Second resistance is the 20-day moving average crossing at 37.74. First support is Wednesday’s low crossing at 35.90. Second support is weekly support crossing at 35.87.


 

Indexes Snapshot
Symbol Last Change %
DJ 30 INDUSTRIALS 17083.80 -2.83 -0.02%
NASDAQ COMPOSITE INDEX (COMBINED) 4473.47 -0.23 -0.01%
S&P 500 CASH 1987.98 +0.97 +0.05%
SPDR S&P 500 198.75 +0.11 +0.06%
QQQQ VOLATILITY INDEX 10.48 +0.33 +3.16%
iShares RUSSELL 2000 INDEX 114.700 -0.165 -0.14%

U.S. STOCK INDEXES

The September NASDAQ 100 closed higher on Thursday as it extends this year’s rally. The mid-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off April’s low, monthly resistance crossing at 4258.97 is the next upside target. Multiple closes below the 20-day moving average crossing at 3899.68 are needed to confirm that a short-term top has been posted. First resistance is today’s high crossing at 3991.25. Second resistance is monthly resistance crossing at 4258.97. First support is the 20-day moving average crossing at 3899.68. Second support is the reaction low crossing at 3854.00.

The September S&P 500 closed higher on Thursday as it extends this year’s rally to new highs. The mid-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are diverging but are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this year’s rally into uncharted territory, upside targets will be hard to project. Closes below last Friday’s low crossing at 1942.90 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 1985.60. Second resistance is unknown. First support is the reaction low crossing at 1945.50. Second support is last Friday’s low crossing at 1942.90.

The Dow closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are diverging but are neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this year’s rally into uncharted territory, upside targets will be hard to project. Multiple closes below the reaction low crossing at 16,805.38 are needed to confirm that a short-term top has been posted. First resistance last Thursday’s high crossing at 17,151.56. Second resistance is unknown. First support is the reaction low crossing at 16,805.38. Second support is the reaction low crossing at 16,746.09.


 

Interest Snapshot
Symbol Last Change %
T-BONDS Sep 2014 138.00000 +0.12500 +0.09%
iShares FLOATING RATE NOTE 50.7844 -0.0106 -0.02%
5 YEAR T-NOTES Sep 2014 119.015625 -0.031250 -0.03%
ULTRA T-BONDS Sep 2014 151.34375 +0.25000 +0.17%
POWERSHARES SENIOR LOAN PORTF 24.78 -0.03 -0.12%

INTEREST RATES

September T-bonds closed down 20-pts. at 137-30.

September T-bonds closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday’s night trading begins. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 137-04 are needed to confirm that a short-term top has been posted. If September extends the rally off July’s low, weekly resistance crossing at 140-16 is the next upside target. First resistance is Wednesday’s high crossing at 138-27. Second resistance is weekly resistance crossing at 140-16. First support is the 20-day moving average crossing at 137-04. Second support is July’s low crossing at 134-11.


 

Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Aug 2014 216.800 -0.525 -0.24%
LEAN HOGS Oct 2014 107.325 -0.575 -0.53%
LIVE CATTLE Oct 2014 158.275 +0.225 +0.14%
IPATH DJ-UBS LIVESTOCK TRUST SUB 32.42 -0.22 -0.68%

LIVESTOCK

August hogs closed down $1.37 at $123.20.

August hogs gapped down and closed lower on Thursday as it extends this month’s decline. Today’s mid-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off June’s high, the 25% retracement level of the 2013-2014-rally crossing at 121.45 is the next downside target. Closes above the 20-day moving average crossing at 128.98 would confirm that a short-term low has been posted. First resistance is today’s gap crossing at 124.57. Second resistance is the 20-day moving average crossing at 128.98. First support is today’s low crossing at 122.10. Second support is the 25% retracement level of the 2013-2014-rally crossing at 121.45.

August cattle closed up $0.50 at 156.55.

August cattle closed higher on Thursday as it extends the rally off this month’s low. The mid-range close sets the stage for a steady opening when Friday’s session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends this year’s rally into uncharted territory, upside targets will be hard to project. Closes below the 10-day moving average crossing at 151.69 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 157.70. Second resistance is unknown. First support is the 10-day moving average crossing at 151.69. Second support is the reaction low crossing at 146.80.

August feeder cattle closed up $0.07 at $217.32.

August Feeder cattle closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends this week’s rally, this month’s high crossing at 219.25 is the next upside target. If August renews the decline off July’s high, the reaction low crossing at 204.85 is the next downside target. First resistance is Wednesday’s high crossing at 218.37. Second resistance is July’s high crossing at 219.25. First support is the reaction low crossing at 207.90. Second support is the reaction low crossing at 204.85.


 

Metals Snapshot
Symbol Last Change %
GOLD Aug 2014 1295.2 +4.4 +0.34%
SPDR GOLD SHARES 124.38 -1.24 -1.00%
SILVER Sep 2014 20.495 +0.080 +0.39%
PALLADIUM Sep 2014 876.40 +5.45 +0.63%
DIREXION DAILY GOLD MINERS BEA 16.79 +0.83 +4.96%
POWERSHARES DB PRECIOUS METALS 41.7680 -0.5820 -1.39%

PRECIOUS METALS

August gold closed lower on Thursday renewing this month’s decline. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off July’s high, the reaction low crossing at 1258.00 is the next downside target. Multiple closes above the 20-day moving average crossing at 1315.90 are needed to confirm that a short-term low has been posted. First resistance is July’s high crossing at 1336.80. Second resistance is the 75% retracement level of the March-June-decline crossing at 1354.40. First support is today’s low crossing at 1287.50. Second support is the reaction low crossing at 1258.00.

September silver closed sharply lower on Thursday renewing the decline off this month’s high. The low-range close set the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are turning neutral to bearish again signaling that sideways to lower prices are possible near-term. If September extends the decline off July’s high, the reaction low crossing at 19.490 is the next downside target. Multiple closes above last Friday’s high crossing at 21.315 are needed to confirm that a low has been posted. First resistance is July’s high crossing at 21.630. Second resistance is February’s high crossing at 22.160. First support is today’s low crossing at 20.350. Second support is the reaction low crossing at 19.490.

September copper closed higher on Thursday and above the 20-day moving average crossing at 322.94 confirming that a low has been posted. The high-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If September extends today’s rally, July’s high crossing at 329.45 is the next upside target. If September resumes the decline off July’s high, the reaction low crossing at 312.30 is the next downside target. First resistance is today’s high crossing at 326.90. Second resistance is July’s high crossing at 329.45. First support is last Friday’s low crossing at 316.75. Second support is the reaction low crossing at 312.30.


 

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3. GILD GILEAD SCIENCES 90.501 +0.161 +0.18% 22,300,146 +90    Entry Signal
4. IP INTL PAPER 50.68 +2.69 +5.31% 18,807,362 +100    Entry Signal
5. RFMD RF MICRO DEVICES 10.55 +0.13 +1.23% 17,893,973 +100    Entry Signal
6. EMC EMC 28.8725 +0.1225 +0.42% 17,711,660 +100    Entry Signal
7. VZ VERIZON COMMUNICATIONS 51.06 +0.15 +0.29% 15,776,984 +90    Entry Signal
8. TLM TALISMAN ENERGY 10.965 -0.205 -1.87% 14,146,968 +90    Entry Signal
9. UAL UNITED CONTINENTAL 44.998 -1.002 -2.23% 13,947,267 +90    Entry Signal
10. UA UNDER ARMOUR 69.55 +8.92 +12.83% 12,374,712 +100    Entry Signal
Top Futures
# symbol name last net % volume score triangles
1. ED.Z14 EURODOLLAR Dec 2014 99.735 +0.005 +0.01% 123,842 +100    Entry Signal
2. HG.U14.E COPPER Sep 2014 3.2700 +0.0035 +0.11% 15,162 +100    Entry Signal
3. GE.Z14.E EURODOLLAR Dec 2014 99.730 -0.005 -0.01% 24,248 +100    Entry Signal
4. DX.U14.E U.S $ INDEX Sep 2014 81.040 +0.078 +0.10% 7,197 +90    Entry Signal
5. 6M.U14.E MEXICAN PESO Sep 2014 0.07686 -0.00002 -0.03% 2,666 +100    Entry Signal
6. GE.U14.E EURODOLLAR Sep 2014 99.760 -0.005 -0.01% 5,440 +100    Entry Signal
7. ZQ.F15.E 30 DAY FED FUND Jan 2015 99.875 0.000 0.00% 1,815 +100    Entry Signal
8. HG.Z14.E COPPER Dec 2014 3.2800 +0.0055 +0.17% 590 +100    Entry Signal
9. ZQ.Z14.E 30 DAY FED FUND Dec 2014 99.885 0.000 0.00% 493 +100    Entry Signal
10. HG.V14.E COPPER Oct 2014 3.2705 +0.0585 +1.79% 342 +100    Entry Signal

My Bet for Friday – 07/25/2014

The journey to 2000 continues with another modest gain on Thursday. And this is the 4th day of gains in the last 5 sessions.

Helping the bullish cause were two solid economic reports. First up was Jobless Claims at a surprisingly low 284K and now the four week moving average is down to only 302K. This bodes well for upcoming employment reports.

Next we got another impressive showing the PMI Manufacturing Index. This came in at 56.3. As you know, anything above 50 means we are in expansionary territory. And a reading above 55 is considered very healthy.

When you put this together with an earnings season sporting a B on the report card, you can firmly understand why shares continue to trek higher. In fact, I bet that today stocks will take their first shot at 2000.

Let’s see if this prognostication allows me to keep the title of Reitmeister. Or will I have to be relabeled as Wrongmeister?

Best,

Steve Reitmeister ( aka Reity…pronounced “Righty” )

Executive Vice President

Zacks Investment Research

Morning Market Commentary 25-Jul-2014

 

INFOTRIE FinSentS logo

Morning News

Headlines

▪ German Consumer Morale At Highest Level In More Than 7.5 Years

▪ London Housing Market Stagnates As Hometrack Sees Rapid Cooling

▪ Japan EconMin Amari: Too Early To Debate Monetary Policy Exit

▪ Japan Govt: Can Halve Primary Budget Deficit In FY15 From FY10

▪ Japan Consumer Inflation Eases In June As Weak Yen Impact Fades

▪ Japan June Service Producer Prices Up on Freight, Real Estate

▪ BSkyB Seals GBP5 Bln Deal With Rupert Murdoch To Create ‘Sky Europe’

▪ Amazon Posts Huge Loss In Second Quarter, Despite Sales Rise

▪ RBS Confirms 92% Profits Boost A Week Early

▪ Vodafone Upbeat As Revenue Rises

▪ Air France-KLM Margins Rise In Q2, To Unveil 2015-2020 Plan

▪ Lafarge Confirms 2014 Goals After Forex, Asset Sales Weigh On H1

▪ CaixaBank Profit More Than Doubles

▪ Sanofi Drugs Sale Said To Draw Blackstone, KKR Interest

▪ Statoil Earnings Soar Despite Output Drop

▪ Lloyds Confirms Close To Libor Settlement

***

Leaders and Laggers

cac
dax
ibex
ldn
omx
***

Commentary

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UK GDP (Q2, Prelim) Preview
Analysts expect UK GDP growth in Q2 to match the 0.8% seen in Q1 on a quarter-on-quarter basis, but the rate of year-on-year growth is expected to accelerate slightly to 3.1% (from the 3% seen in Q1). The preliminary Q2 data will be solely based on the output side of the economy.

This week, the IMF once again increased its projection of UK economic growth to 3.2% in 2014 (the previous forecast, which was also an upgrade, was 2.8%). The organisation sees UK growth next year coming in at 2.7% – again, an upgrade from a previous 2.5%.

It is worth noting that analysts were quite optimistic that the final print of Q1 GDP would be revised higher by 0.1ppt to 0.9%, but that didn’t materialise. Nevertheless, many bank desks are expecting to see this figure revised higher at some stage. And ING’s James Knightly, commenting after the release of the latest Bank of England minutes this week, said “BOE staff expect 2Q GDP to come in at 0.9% QoQ and for Q1 GDP to be eventually revised up to 0.9% from the 0.8% currently recoded, with growth ‘slowing modestly into the third and fourth quarters’.” (Livesquawk – Continue Reading)

How Long Can Russia Go Without Selling Bonds?
Even before tougher sanctions against Russia hit the books, the country is facing potential hits as investors turn their backs on its financial assets.

“With access to foreign capital likely to become more restrictive, the pick-up in investment needed to revive Russia’s ailing economy is starting to look ever more unlikely,” Neil Shearing, chief emerging markets economist at Capital Economics, said in a note Thursday.

Russia also faces the risk that threats of further sanctions could spur more capital outflows, he said. (CNBC – Continue Reading)

Fact Of The Week: Lithuania Changes The ECB’s Voting System
Lithuania will become the 19th member of the Euro area on the 1st of January, following Wednesday’s Council endorsement. The most important part of the story – however – is not that someone is still brave enough to join the Euro area, but that Lithuania’s accession will trigger a change in the voting system of the ECB.

Lithuania’s accession to the euro area will be effective on the 1st of January 2015. This will bring the number of eurozone members to 19 and the Governing Council’s members to 25 (6 members of the executive board and 19 National Central Bank governors). Enough to trigger a change in the ECB’s Governing Council’s voting system, which will start rotating.

Actually, the statutes of the European System of Central Banks and of the ECB already envisaged the switch to a rotating system when the number of euro area countries exceeded 15 (which has been the case since quite some time). However, in December 2008, the Governing Council decided to defer the decision until the number of governors exceeded 18. This was an exception possible under the letter of the Treaty, but no other escape clause is offered and the rotation is therefore unavoidable. (Bruegel – Continue Reading)

unnamed  1

Japan’s Export-Champ Days Are Left Behind, Chart Shows
Japan’s exports stagnated even as Germany, South Korea and the U.S. saw their shipments surpass levels registered from the 2008 credit crisis, showing how a cheaper yen hasn’t stopped the nation’s manufacturers from moving abroad.

The CHART OF THE DAY shows the value of Japan’s exports is 23 percent below a March 2008 peak, even as those of South Korea, the U.S. and Germany have grown. The yen has lost 16 percent in value against the dollar since Prime Minister Shinzo Abe took office in December 2012. That hasn’t been enough to spur growth in outbound shipments.

Japan’s government and central bank have blamed weak overseas demand, especially in emerging markets, for export sluggishness. This weakness is negative for an economy that suffered a blow to domestic demand from an April sales-tax increase. (Bloomberg – Continue Reading)

StanChart At Risk Of ‘Doing A HSBC’ – Badly
Standard Chartered is doing a passable impression of HSBC circa 2010. The UK-based emerging markets bank has told investors that it does not accept “media rumours” concerning the future of Chairman John Peace and Chief Executive Peter Sands. The parallels with HSBC’s succession planning four years ago – a crisis that culminated in the dual departures of chairman and CEO amid a boardroom power struggle – are worrying.

It’s easy to see why StanChart felt the need to respond to a Financial Times report that Peace was preparing to find a replacement for Sands, which would be a share price-sensitive event. Moreover, a big regulated bank cannot cope for long with perceptions of boardroom division, hence StanChart’s comment that the board is fully behind the present chairman and CEO.

But the move makes the board look rattled, and adds to the pressure on everyone involved. Such stress can soon become unbearable for a leadership team. In 2010, HSBC dismissed reports that CEO Mike Geoghegan had threatened to resign as “nonsense” – only for him to leave soon after. (Reuters – Continue Reading)

***

Files and Links

***

HEADLINES

German GFK Consumer Confidence Aug: 9.0 (est 8.9; prev 8.9)

UK Hometrack Housing Survey (MoM) Jul: 0.10% (prev 0.30%)

Japan EconMin Amari: Too Early To Debate Monetary Policy Exit

Japan Govt: Can Halve Primary Budget Deficit In FY15 From FY10

Japan Natl CPI Ex Fresh Food (YoY) Jun: 3.30% (est 3.30%; prev 3.40%)

Japan Services PPI (YoY) Jun: 3.60% (est 3.60%; prev 3.60%)

BSkyB Seals GBP5 Bln Deal With Rupert Murdoch To Create ‘Sky Europe’

Amazon Posts Huge Loss In Second Quarter, Despite Sales Rise

RBS Confirms 92% Profits Boost A Week Early

Vodafone Upbeat As Revenue Rises

Air France-KLM Margins Rise In Q2, To Unveil 2015-2020 Plan

Lafarge Confirms 2014 Goals After Forex, Asset Sales Weigh On H1

CaixaBank Profit More Than Doubles

Sanofi Drugs Sale Said To Draw Blackstone, KKR Interest

Statoil Earnings Soar Despite Output Drop

Lloyds Confirms Close To Libor Settlement

MARKET DATA

 

CWS Market Review – July 25, 2014

CWS Market Review

July 25, 2014

“People always call it luck when you’ve acted more sensibly than they have.”
- Anne Tyler

Like the honey badger, this stock market just doesn’t care. Was it going to be tripped up by Ukraine? Nope. Gaza? Nope. Fed tapering? Not a chance. The stock market keeps chugging higher. On Thursday, the S&P 500 finished the day at 1,987.98 for its 27th record close this year. Not that long ago, 2,000 for the S&P 500 was a distant hope. Now, it looks like we’ll hit it any day now.This week has been all about earnings, earnings and more earnings. So far, the earnings have been pretty good. According to the latest numbers from Bloomberg, 77% of the S&P 500 companies that have reported so far have topped Wall Street’s expectations. Also, 64% have beaten their sales expectations. The S&P 500 is currently on track to deliver Q2 earnings growth of 6.2% and sales growth of 3.3%.

Our Buy List has been very busy this week; we had seven earnings reports. Thanks to good earnings, Ford Motor jumped out to a new 52-week high. Even boring CA Technologies rallied 4.5% after a strong earnings report. I’ll review all of our recent earnings in a just a moment. I’ll also highlight four Buy List earnings reports coming next week. I should mention that weekly jobless claims just dropped to an eight-year low, which bodes well for next week’s jobs report. But first, let’s take a closer look at our mass of earnings reports.

Surveying the Earnings Parade

We have a lot to go through, so let’s start with Tuesday’s earnings report from McDonald’s and Microsoft. Unfortunately, the McDonald’s (MCD) news wasn’t very good. The fast-food joint earned $1.40 for Q2, which was four cents shy of Wall Street’s consensus. In the U.S., same-store sales dropped by 1.5%.

It’s no secret that MCD has made a lot of missteps. This is particularly painful when we see the outstanding results from Chipotle (CMG), a company MCD used to own. Simply put, McDonald’s (MCD) is not in a good way right now. As an investor, I like when companies hit rough patches, since there’s a good opportunity to find a bargain, The catch, of course, is that the company has to right itself.

I think the folks at MCD understand the position they’re in, although I think the reforms may take a while to impact the business. For now, MCD is indeed a cheap stock. The shares got hit by a bunch of downgrades after the earnings report. Going by Thursday’s close, MCD yields 3.4%. Not many blue chips pay that well. The restaurant said that it’s planning to reform itself over the next 18 months. They’d better get cracking. I’m lowering my Buy Below on McDonald’s to $101 per share.

Except for Nokia, Microsoft Is Looking Good

Microsoft‘s (MSFT) earnings report was a bit confusing, but after giving it a read, traders decided they like it. After the bell on Tuesday, the software giant reported fiscal Q4 earnings of 55 cents per share. That was five cents below consensus. The shares quickly plunged in the after-hours market.

Then more details came out, and it turned out that the results weren’t that bad at all. Microsoft’s quarterly revenue rose a healthy 18% to $23.4 billion. The company also pleased investors last week when they announced big job cuts. It’s not that the market is happy about folks losing their jobs, but they’re pleased to see that MSFT is working to streamline operations. Most of those jobs are from Nokia.

The big problem for Microsoft is that Nokia’s handset business is a money loser. The division could turn into a winner in the long term, but the outlook is rather iffy at the moment. The good news for Microsoft is that their cloud business is going very well. Microsoft remains a good buy up to $48 per share.

Earnings from CA Technologies and Qualcomm

On Wednesday, two of our tech stocks reported results, CA Technologies and Qualcomm. I have to admit that I’ve become quite frustrated with CA Technologies (CA). However, the company earned itself a temporary respite from my doghouse by reporting decent results. For their fiscal Q1, CA earned 65 cents per share, which was five cents better than estimates. Quarterly revenue dropped 2% to 0.069 billion. This was the ninth quarter in a row of falling revenue.

But the important news was guidance. For fiscal 2015, which ends next March, CA sees revenues falling by 1% to 2%. They also said they expect to see earnings range between $2.42 and $2.49 per share. Apparently this relieved a lot of investors. The shares jumped 4.5% on Thursday to close at 29.64. Even with that rally, we’re still down nearly 12% on the year with CA. The big positive continues to be the 25-cent quarterly dividend. The stock yield now works out to 3.4%. CA remains a buy up to $31 per share.

Technically, Qualcomm (QCOM) reported amazing earnings for their fiscal third quarter. The company earned $1.44 per share, which crushed estimates by 22 cents per share. In April, they said they were expecting Q3 earnings to range between $1.15 and $1.25 per share. Well, I guess they beat that!

The good news and bad news for Qualcomm is China. The country continues to be a great customer, but several companies there “are not fully complying with their contractual obligations.” As a result, the company had weak guidance for the current quarter. For fiscal Q4, Qualcomm sees earnings ranging between $1.20 and $1.35, which is below Wall Street’s consensus of $1.39 per share.

Thanks to the blow-out earnings Q3 report, Qualcomm raised their full-year EPS range to $5.21 to $5.36, from the earlier range of $5.05 to $5.25. Note that QCOM’s earnings beat was larger than the lower guidance. Nevertheless, traders didn’t like the China news and the shares fell by more than 6% on Thursday. Qualcomm is a buy up to $83 per share.

Ford Motor Is a Buy up to $19 per Share

On Thursday, Ford Motor (F) reported another strong quarter. This is their first one under their new CEO, Mark Fields. I really like what I’m seeing at Ford. Alan Mulally and his team deserve a lot of credit. The company made 40 cents per share for Q2, which beat consensus by four cents per share. This was Ford’s 20th profitable quarter in a row.

I was also pleased to see Ford stand by its forecast for this year of $7 billion to $8 billion in pre-tax profit. The really good news is that Ford managed to eke out a teeny tiny profit in Europe of $14 million. Of course, $14 million may sound like a lot, but in ROE terms, to an outfit like Ford, it’s peanuts. Still, no one was expecting they’d be at peanuts in Europe this early. Ford is clearly moving in the right direction.

This is a key moment for Ford. They’re introducing a bunch of new vehicles, and that requires a lot of up-front money. Overall, the company is holding the line on costs. One weak spot was South America, where they lost $300 million. Ford earned $2.4 billion in operating profit in North America. That’s a company record. The new Mustang and aluminum F-150 are due later this year, and that could give a nice boost to sales.

On Thursday, the shares jumped as high as $18.12, which is a three-year high. Ford is a solid buy up to $19 per share.

CR Bard Beats Low-Balled Expectations

In April, CR Bard (BCR) told us to expect Q2 earnings to range between $1.98 and $2.02 per share. Last week, I said I thought they were low-balling us, and sure enough, on Thursday, Bard reported Q2 earnings of $2.06 per share.

I know companies like to lower the bar on earnings and then try to impress us by topping phony expectations. I don’t blame Bard for playing the game, but I’ll let you know it when I see it.

Overall, they had a decent quarter. Quarterly sales rose 9% to $827.1 million. Bard’s chairman and CEO, Timothy M. Ring, said, “Once again we exceeded our expectations for revenue growth this quarter. We continue to believe that executing our investment plan will accelerate the sustainable growth rate of the overall portfolio and put us in a position to provide revenue growth in the mid-to-high single digits with attractive returns for shareholders.”

Now let’s turn to guidance. For Q3, Bard expects earnings to range between $2.07 and $2.11 per share. They shouldn’t have trouble hitting that. Bard also increased their full-year range by five cents at each end. The new range is $8.25 to $8.35 per share.

If you recall, Bard raised their quarterly dividend last month from 21 to 22 cents per share. They’ve raised their dividend every year since 1972. I rate CR Bard as a buy up to $151 per share.

Upcoming Buy List Earnings

We have four earnings reports coming next week. Three of our stocks, AFLAC, Express Scripts and Fiserv, report on Tuesday, July 29. Then DirecTV reports on Thursday, July 31. (Also, earnings from Moog are due out later today. Be sure to check the blog for the latest.)

Shares of AFLAC (AFL) have improved recently. The supplemental-insurance company has worked to diversify its investment portfolio. The yen/dollar ratio has been fairly stable since February. The company has performed well, but foreign exchange has taken a big chunk out of earnings. Three months ago, AFLAC said to expect Q2 operating earnings between $1.54 and $1.68 per share. Their full-year guidance was $6.06 to $6.40 per share. Both forecasts are based on a yen/dollar exchange rate between 100 and 105. AFLAC is a buy up to $68 per share.

In April, Express Scripts (ESRX) beat earnings by two cents per share, but they lowered their full-year guidance to $4.82 to $4.94. That was a decrease of six cents per share at each end. Express Script remains a buy up to $74 per share. That’s a high Buy Below price. I may lower it after the earnings report.

Fiserv (FISV) hit another 52-week high this week. This stock has climbed almost non stop for the last three years. Wall Street expects Q2 earnings of 80 cents per share. Fiserv is a buy up to $64 per share. I may have to raise that soon.

DirecTV (DTV) is still our big winner on the year, with a 25% gain. There’s not much to say about DTV since the $95 buyout deal with AT&T. DTV’s volatility has nearly evaporated, and the stock is trading like a zero-coupon bond that matures at $95 at some point. The stock is now almost exactly 10% below its merger price.

That’s all for now. More earnings to come next week. Wall Street will also have an intense 48 hours between Wednesday and Friday. On Wednesday morning, the government will release its first estimate of Q2 GDP. The Fed also meets, and later that day, the FOMC will release its latest policy statement. Friday is Jobs Day, and we’ll also get a look at the ISM report for July. Be sure to keep checking the blog for daily updates. I’ll have more market analysis for you in the next issue of CWS Market Review!

- Eddy

Named by CNN/Money as the best buy-and-hold blogger, Eddy Elfenbein is the editor of Crossing Wall Street. His free Buy List has beaten the S&P 500 for the last seven years in a row. This email was sent by Eddy Elfenbein through Crossing Wall Street.
2223 Ontario Road NW, Washington, DC 20009, USA

Quartz Daily Brief—Russian sanction pain, Amazon disappoints, Algerie wreckage found, zero-G gecko peril

Quartz - qz.com
Good morning, Quartz readers!

What to watch for today

Israel faces more Palestinian protests. Anger over the shelling of UN elementary school in Gaza could lead to new protests (paywall) in the West Bank and east Jerusalem. Clashes between protesters and security forces began on Thursday night, after at least 15 were killed in the attack.

Signs of pain in Russia? Fitch and Moody’s will update their sovereign debt ratings for Russia, the state oil behemoth Rosneft reports earnings, and the Russian central bank issues an interest-rate decision, all of which could give clues as to whether Western sanctions having an effect.

An Indonesian election challenge. Prabowo Subianto, the former general who narrowly lost Indonesia’s presidential race to Joko Widodo, is expected to submit a court claim (paywall) seeking to overturn the outcome.

High hopes for the UK. The Office for National Statistics releases it second-quarter GDP estimate. Although the International Monetary Fund cut its global growth forecast yesterday, it upgraded the UK’s outlook for the fourth time in nine months.

Shinzo Abe follows in Xi Jinping’s footsteps. Japan’s prime minister embarks on a five-country tour of Latin America and the Caribbean, following on the heels of China’s president as the two Asian powerhouses compete for clout.

While you were sleeping

The US accused Russia of firing on Ukraine. The US State Department said it has evidence that recent artillery fire came from Russian soil, and that Russia plans to deliver heavier and more powerful rocket launchers to Ukrainian rebels.

Amazon disappointed investors. The company’s second-quarter loss was double what analysts expected, and it warned that the third quarter would be much worse. The numbers suggest that Amazon’s price war with Google over cloud computing services is starting to hurt.

Japan’s inflation dipped slightly to 3.3% in June, from 3.4% in May, in unwelcome but unsurprising news for the country’s central bank, which is trying to hit a 2% inflation target.

The wreckage of Air Algerie flight 5017 was found in a village in Mali. The aircraft changed its route to avoid bad weather but the cause of its crash has not been determined; officials say Malian insurgents don’t have weapons that can bring down a cruising airliner.

BNP Paribas got fined again. The French bank is set to pay $80 million for defrauding the US Department of Agriculture. It helped US commodities exporters claim undeserved compensation.

A tie-up in British construction. Balfour Beatty and Carillion, two of the country’s largest building companies, are in talks over a potential £3 billion ($5.1 billion) merger.

Quartz obsession interlude

Adam Epstein on how American cable channels have become an indistinguishable swamp of reality TV. “TLC is not the only one abandoning its roots. Dozens of basic cable networks no longer adhere to any core identity or defined genre of programming. MTV (which stood at one time for “Music Television”) infamously airs very little music programming. Two of the most popular shows on The History Channel (now just called History) are Pawn Stars and Ice Road Truckers. Animal Planet’s most watched program last year was a pseudoscience “mocudrama” on mermaids.” Read more here.

Matters of debate

The US should expose Putin’s network of offshore accounts. Europe will hate it at first, but will thank America for it later.

India’s new populist leader could learn from Indonesia’s president-elect. India’s Arvind Kerjiwal is struggling to find his feet.

The FAA shouldn’t have banned flights to Israel. Closing down infrastructure in the face of terrorist threats is self-defeating, says Michael Bloomberg.

China’s top leader has too much power. Xi Jinping’s many roles pose a threat to stability in Asia.

Surprising discoveries

Russia’s zero-G sex geckos are in trouble. A satellite carrying the lizards (five female, one male) to study their reproductive habits is malfunctioning.

A South Korean baseball team has a robot cheering section. The Hanwa Eagles offer robotic surrogates for fans who can’t make the game.

Alibaba sells Jeff Koons knock-offs. Balloon dog sculptures on the Chinese e-commerce site the are only $500; the original sold for $58 million.

Surgeons removed 232 teeth from a teen in India. Think about this the next time you complain about a dentist visit.

Powerful people have a distorted perception of time. Their feelings of control make them think they have more time than they do.

Our best wishes for a productive day. Please send any news, comments, baseball robots, and space gecko rescue plans to hi@qz.com. You can follow us on Twitter here for updates throughout the day.

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