Daily Market Commentary for July 19, 2011

Wall Street seemed to be intently focused on News Corporation (NasdaqGS: NWS) Chairman Rupert Murdoch testified before a British parliamentary. (read more at Millennium-Traders.Com)
http://www.millennium-traders.com/ne...ommentary.aspx

Comments from James Murdoch: Surprised To Find Some Mulcaire's Legal Fees Paid; Allegations Of Hacking Were More Serious; News Of The World Closure Serious Matter Of Regret; Brooks Resignation And News Of World Closure Unrelated; Size Of Hinton, Brooks Payments Are Confidential; Surprised That Clive Goodman Paid After Court Case; Perhaps I Lost Sight Of News Of The World; : No Knowledge Of Coulson's Wages After He Left News International; Will Leave Option Open On New UK Sunday Paper; No Decision To Launch New UK Sunday Tabloid; Set Up Independent Committee To Set UK Code Of Conduct; Welcomes UK Review Into Media Industry; All UK Paper Industry Needs To Consider Journalistic Ethics; Managers Should Record Cash Payments; Reiterates Apology For News Of The World Hacking; Many Of The Guilty People Had Already Left Company; Have To Find And Deal With Guilty People; Told Father After Settlement With Gordon Taylor Made In 2009; No Evidence That Brooks, Hinton Had Knowledge Of Hacking; Established A Group To Cooperate With Police; Aim Of Group Is To Be Proactive, Transparent; Will Ensure It Doesn't Happen Again; News Corp Will Put Things Right; Actions Do Not Live Up To News Corp Standards; Apologies To Victims Of Phone Hacking; Hacking, Police Payments Have No Place In Our Business; Not Aware Of Phone Hacking Allegations In Other Countries; Became Aware That Dowler's Phone Hacked When Reported In Press Conference.


InterDigital (NasdaqGS: IDCC) shares surged by 22% after announcing that the board was reviewing options including a sale of patents or the whole company.

F5 Networks (NasdaqGS: FFIV) was hosting a gain on the session, into early afternoon of almost 6 points, ahead of earnings release on Wednesday.

Avery Dennison (NYSE: AVY) shares were down sharply by 12% after reporting that company expects lower Q2 sales and trimmed its full-year profit outlook.

Goldman Sachs Group (NYSE: GS) was trading at a new 52 week low after reporting earnings that missed Wall Street expectations.

Lincare Holdings (NasdaqGS: LNCR) shares were off by 7% into early afternoon trading when company reported income fell in Q2.


Economic data released today:

U.S. ICSC/Goldman Sachs Chain Store Sales: +0.4% in week of July 16 and U.S. ICSC/Goldman Sachs Chain Store Sales +4.5% on year.

Building Permits: Building Permits +2.5% to 624K Rate in June.

Housing Starts: U.S. May Housing Starts Revised to Unchanged from +3.5%; U.S. June Housing Starts +14.6% to 629K vs. Consensus +2.0%.


Viewers may opt-in to our free Weekly Market News sent via email on the first trading day of the week. Review market news and active stocks from the previous week plus, see what is ahead for the upcoming trading week.

Detailed performance for stocks, futures or forex by date on our News & Commentary. Access our FREE Monthly Trading Lesson posted on our website.

Access a one week trial to our Weekly Swing Trades service. View detailed historic performance from our News & Commentary page.

Follow us now on Twitter

Viewers Poll: Do you think the National Debt Ceiling should be raised?

Thanks for reading
Millennium-Traders.Com
http://www.millennium-traders.com