Trader Talk

Europe's "News" Hitting Futures (Down)

Futures trending down since Europe opened on rumors that someone might be unwinding a structured product in Europe this am.

Mixed morning for stocks:

MBIA shares down 11 percent after they sold new shares at a 14 percent discount to its closing price in an effort to raise capital, down 7 percent.

Alcatel-Lucent quarter was ok, but eliminates dividend due to the uncertain market outlook.

Tiffanyraised guidance for 2008, talked about at least a 10 percent increase in net sales.

On the other hand, diamond giant De Beers said sales fell 2 percent on poor Christmas sales. They control 40 percent of the world diamond market.

Glass giant Corning said they saw no signs of a slowdown in their business and affirmed their earnings for the full year. 


had good comp store sales in January--up 8.2 percent for Europe, 1.9 percent in the U.S.

Questions?  Comments?