US EQUITY WRAP: Equities headed towards their best week in a year amid strong earnings reports for Microsoft and Procter & Gamble and easing concerns over Ebola

US equities traded in minor positive territory however headed towards their best week in a year, with the S&P on course for its best week since 2013, amid positive earnings reports for Proctor & Gamble and Microsoft and easing concerns over Ebola. Microsoft shares rose after beating revenue expectations, while Procter & Gamble also gained after announcing it would spin off its Duracell battery business. Amazon underperformed, falling over 8% after reporting a lower-than-expected Q4 sales and profit forecast following its downbeat earnings report yesterday, with the company heading for its biggest annual loss in 12 years.  Confirmation of the first Ebola case in NYC weighed on equities overnight, however concerns eased after the US open as the patient was said to be in stable condition and the WHO set out plans for speeding up development and deployment of experimental Ebola vaccines. 

Finally, the DJIA finished up 0.76% at 16805.41, the NASDAQ-100 finished up 0.74% at 4042.01 and the S&P 500 finished up 0.71% at 1964.58. 


RANsquawk – Today’s Trading Edge

TIME: 1827BST/1327EDT

NEWS: Charter Bridges Brian Zied likes Outerwall (OUTR), at the Ira Sohn Canada conference

REACTION: In immediate reaction OUTR shares moved 1.3% higher in a move higher from USD 55.90 to USD 56.65


TIME: 1722BST/1222EDT

NEWS: Hudson Valley Bank (HVB) said to explore sale with KBW advising

REACTION: In an immediate reaction HVB shares rose 11.1% in a move higher from USD 19.04 to USD 21.13


TIME: 1652BST/1152EDT

NEWS: S&P affirms Russia at BBB-, outlook remains negative. The analyst immediately highlighted over the audio that some were expecting Russia’s credit rating to be cut to junk

REACTION: In reaction USD/RUB fell 0.3% over 3 minutes in a move lower from 41.84 to 41.72


TIME: 1622BST/1122EDT

NEWS: Sodastream (SODA) to test PepsiCo branded products at home unit

REACTION: In an immediate reaction SODA shares rose 6.98% from USD 21.01 to USD 22.50, before then extending the move by 4.82% over the following 8 minutes from USD 22.50 to 23.57, making the total size of the move 10.83%


TIME: 1547BST/1047EDT

NEWS: NIH says Dallas nurse, Ebola patient Nina Pham now cured. RANsquawk analysts were quick to point out that this news could be of importance for related pharmaceutical names including Tekmira Pharmaceuticals (TKMR)

REACTION: In an immediate reaction TKMR shares fell 1.03% from USD 19.53 to USD 19.33


TIME: 1546BST/1046EDT

NEWS: Novo Nordisk (NVO) receives subpoena from US attorney

REACTION: Over the following two minutes NVO shares fell 1.66% from USD 45.68 to 44.92


TIME: 1441BST/0941EDT

NEWS: RANsquawk sources report Varian Medical could be interested in IsoRay (ISR) – Unconfirmed

REACTION: In immediate reaction ISR shares gained 10.0% in a move higher from USD 1.59 to USD 1.75. Over the course of the following hour this move higher extended to 20.1%


TIME: 1420BST/0920EDT

NEWS: RANsquawk sources note Bain and Apax sizing up offers for Portugal Telecom (PTC PL) – Unconfirmed

REACTION: In an immediate reaction PTC PL shares rose 4.94% from EUR 1.06 to EUR 1.11


TIME: 1342BST/0842EDT

NEWS: ECB draft document shows 25 banks set to fail health check

REACTION: In immediate reaction EUR/USD fell 18 pips from 1.2664 to 1.2646, the DAX Dec’14 future fell 38 points from 8996.00 to 8958.00 while Bunds moved higher by 16 ticks 150.54 to 150.70


TIME: 0830BST/0330EDT

NEWS: Polish Central Bank Governor Belka says Poland has undervalued PLN

REACTION: In an immediate reaction EUR/PLN fell 35 pips from 4.2319 to 4.2284, over the following 9 minutes EUR/PLN fell a further 72 pips from 4.2284 to 4.2212, making the total size of the move 107 pips


TIME: 0129BST/2029EDT

NEWS: Patient in NYC has tested positive for Ebola

REACTION: Over the following 18 minutes, the E-mini S&P fell 14 points from 1946.00 to 1932.00, in an eight minute reaction Dec’14 USTs rose 7+ ticks from 127.03+ to 127.11 and USD/JPY fell 15 pips over the following 15 minutes from 108.12 to 107.88


CFTC say JPY net short 72K vs 101K short prior

EUR net short 159K vs short 155K prior JPY net short 72K vs 101K short prior GBP net short 4K vs short 3K prior AUD net short 32K vs short  30K prior CAD net short 22K vs short 16K prior CHF net short 18K vs short 17K prior NZD net short 2k vs short 2k prior