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Europe Closes Lower; Fed in Focus

Market Insider with Patti Domm

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  Tuesday, 18 Jun 2013 | 6:59 PM ET

Even Fed May Not Be Able to Tame Volatile Trading

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Whatever Federal Reserve Chairman Ben Bernanke says Wednesday afternoon threatens to rock some part of the financial markets.

"That's how I see it. Tomorrow is dangerous," said Art Cashin, director of NYSE floor operations at UBS.

Financial markets always watch the Fed, and they always hang on every word of Fed policy. But the Fed's post-meeting statement or comments from the Fed chairman Wednesday will either give credence to or conflict with a recent fundamental shift in market perception – and that is that there will be a slow creep to higher rates as the Fed slows and then ultimately ends its bond purchase program.

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  Tuesday, 18 Jun 2013 | 4:43 PM ET

After-Hours Buzz: Adobe, La-Z-Boy, Teva Pharmaceuticals & More

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Check out which companies are making headlines after the bell Tuesday:

Adobe Systems - The computer software company posted earnings of 36 cents a share, topping expectations for 33 cents a share, while revenue was in line with consensus at $1.01 billion. For the current quarter, Adobe expects earnings of 29 cents to 35 cents a share vs. expectations of 35 cents a share. Shares rallied in extended-hours trading.

(Read More: Stocks Rally, Russell Ends at All-Time High)

La-Z-Boy - The furniture manufacturer posted earnings of 30 cents a share on sales of $360 million, edging past estimates for 28 cents a share on sales of $358 million. Shares climbed in extended-hours trading.

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  Tuesday, 18 Jun 2013 | 10:00 AM ET

Market's Bernanke Inspired Angst Grows More Acute

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Anxiety is mounting over Fed Chairman Ben Bernanke's presser tomorrow. Perhaps inadvertently, President Obama has added fuel to the fire by telling Charlie Rose in a PBS interview that Bernanke has "already stayed a lot longer than he wanted or he was supposed to."

Immediately, traders began speculating that Mr. Bernanke might announce he was leaving tomorrow.

»Read more
  Tuesday, 18 Jun 2013 | 10:08 AM ET

Greenberg: Don’t Get Fooled by a Stock’s Price

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Kutay Tanir | Vetta | Getty Images

Last week D.A. Davidson Analyst Tim Ramey, who calls Herbalife his "single best idea," issued a report saying that "the bear case is in tatters."

With Herbalife's stock price up nearly 40 percent since mid-April and almost double from its lows of December, he was suggesting the bears are wrong in their claim that Herbalife operates a pyramid scheme. (Never mind that it is still well below its 2012 highs.)

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  Tuesday, 18 Jun 2013 | 7:46 AM ET

Early Movers: SFD, SNE, BA, SKUL, HOST & More

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Check out which companies are making headlines before the bell on Tuesday:

Smithfield Foods — The pork producer will study the letter sent by major shareholder Starboard Value earlier in the day. That letter proposed a breakup of the company, saying it yielded far more value than the $34 per share buyout deal struck with China's Shuanghui Holdings.

Sony — Hedge fund operator Third Point raised its stake to 7 percent from about 6.3 percent. Third Point also asked for the chance to present its case for a spin-off of Sony's entertainment unit to the board of directors.

Boeing — Boeing formally launched a new version of its Dreamliner, the 787-10, and announced commitments for 102 of the jets from five customers including United Airlines.

»Read more
  Monday, 17 Jun 2013 | 9:22 PM ET

Fed Meets as Faith in Its Bond Program Wanes

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There's a wide divide on Wall Street over whether further bond purchases by the Federal Reserve can help lower interest rates, which have been rising since early May.

Economists, analysts and fund managers, who participated in the latest CNBC Fed survey, were almost evenly split on the question. Of the 60 respondents, 45.8 percent said further bond purchases could help lower yields, while 44 percent said they do not believe it would. Another 10.2 percent said they were unsure. More results of the survey will be reported Tuesday by CNBC Senior Economic Correspondent Steve Liesman, starting at 7 a.m. ET on CNBC's "Squawk Box."

The answer to the question on yields suggests that Wall Street is losing faith in the ability of the Fed's quantitative easing program to suppress rates. In April, 54 percent who answered the CNBC Fed survey said they thought QE could lower bond yields, while 35 percent did not.

(Read More: Stocks End Higher, but Fed Taper Talk Weighs; Dow Rallies 100)

»Read more
  Monday, 17 Jun 2013 | 4:47 PM ET

After-Hours Buzz: Korn/Ferry, Host Hotels, Campbell Soup & More

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Check out which companies are making headlines after the bell Monday:

Korn/Ferry International - The executive search firm posted earnings of 32 cents a share, excluding one-time items, edging past expectations by a penny a share. Revenue of $239 million topped estimates for $224 million. In addition, the company said it expects to see current-quarter earnings above Wall Street forecasts. Shares rallied in extended-hours trading.

(Read More: Stocks End Higher, but Fed Taper Talk Weighs)

Host Hotels & Resorts - The lodging real estate investment trust boosted its quarterly dividend by 10 percent to 11 cents a share. Shares were largely unchanged in extended-hours trading.

»Read more
  Monday, 17 Jun 2013 | 12:50 PM ET

Midday Movers: ERJ, UTX, MDVN & More

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Take a look at some of Monday's midday movers:

Embraer United Technologies – Embraer received a big order for the newest version of its E-Jet planes. Skywest will be the launch customer with a firm order of 100 planes and options for another 100. Embraer has also received letters of intent to buy 265 E-Jets from others. United Technologies' Pratt & Whitney unit will provide the engines for the planes.

Medivation, Johnson & Johnson – Medivation fell sharply after Johnson & Johnson announced a deal to buy privately-held Aragon Pharmaceutical. The deal strengthens J&J's position in the prostate cancer space and puts pressure on Medivation's prostate cancer drug Xtandi.


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  Monday, 17 Jun 2013 | 9:34 AM ET

When Doves Cry: Can Bernanke Calm 'Taper' Tantrum?

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Federal Reserve Board Chairman Ben Bernanke

The market chatter over the weekend was all about Federal Reserve Chairman Ben Bernanke. More specifically, sentiment centers around one question: will Bernanke try to calm the markets by pushing a more dovish position on bond-buying?

Why? Most feel that Bernanke is likely pleased with the 60 basis point or so rise in 10-year interest rates in the last six weeks: just enough to take some air out of Treasury price deflation, not enough to have everyone scream that the economy is slowing, or that 4 percent mortgage rates will crush the housing recovery.

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  Monday, 17 Jun 2013 | 7:39 AM ET

Early Movers: SFD, NFLX, FB, CVX & More

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Check out which companies are making headlines before the bell on Monday:

Smithfield Foods — Smithfield should be broken up rather than sold to a China firm, according to activist investor Starboard Value. Starboard puts Smithfield's value at 44 - $55 per share if broken up, compared to the $34 per share price offered by Shuanghui Holdings.

Netflix —Netflix has struck its largest-ever original content deal with DreamWorks Animation, which will provide over 300 hours of programming based on popular DreamWorks movie characters.

Facebook— Investors are speculating about a press event set for Thursday, with the invitation merely describing the introduction of a "big idea" that a "small team" has been working on.

»Read more

About Market Insider with Patti Domm

Be prepared with Market Insider. Your daily guide to events and trends that drive the financial markets. Whether it’s stocks, foreign exchange, commodities, or bonds, you'll get a distinctive look at the discussion shaping investment decisions as well a wide range of opinion.

 

  • Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • Greenberg is senior stocks commentator for CNBC appearing throughout business day programming and on CNBC.com.

  • A CNBC reporter since 1990, Pisani reports on Wall Street and the stock market from the floor of the New York Stock Exchange. Follow him on Twitter @BobPisani.

  • Epperson covers the global energy, metals and commodities markets from the NY Mercantile Exchange for CNBC and CNBC.com.

  • Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • CNBC Markets Producer

  • Senior Producer at CNBC's Breaking News Desk.

  • Website Producer at CNBC

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