Earnings: Tuesday Before Open

• Autoliv (ALV): Q2 EPS of -$0.24 beats by $0.18. Revenue of $1.19B (-37%) vs. $1.15B. (PR)
• BJ Services (BJS): FQ3 EPS of -$0.11 misses by $0.11. Revenue of $787M (-40.8%) vs. $868M. (PR)
• Comerica (CMA): Q2 EPS of -$0.10 beats by $0.35. Tier 1 capital ratio of 11.57%. Net credit-related charge-offs of $248M, or 2.08% of average total loans. (PR)
• Continental Airlines (CAL): Q2 EPS of -$1.36 misses by $0.01. Revenue of $3.1B (-22.7%) in-line. (PR)
• EI DuPont de Nemours (DD): Q2 EPS of $0.61 beats by $0.08. Revenue of $6.9B (-22.4%) vs. $7.15B. Shares +1% premarket (6:40 ET). (PR)
• Elan (ELN): Q2 EPS of -$0.14 beats by $0.01. Revenue of $281M (+14.4%) vs. $262M. (PR)
• Lexmark International (LXK): Q2 EPS of $0.55 misses by $0.05. Revenue of $905M (-20.6%) vs. $916M. (PR)
• Merck & (MRK): Q2 EPS of $0.83 beats by $0.06. Revenue of $5.9B (-2.5%) vs. $5.8B. (PR)
• Quest Diagnostics (DGX): Q2 EPS of $1.00 beats by $0.05. Revenue of $1.9B (+3.5%) in-line. (PR)
• Regions Financial (RF): Q2 EPS of -$0.28 misses by $0.06. Loan origination volume of $3.1B vs. $2.8B in Q1. Net loan charge-offs increased to $491M, or an annualized 2.06% of average loans. (PR)
• Schering-Plough (SGP): Q2 EPS of $0.46 beats by $0.01. Revenue of $4.6B (-5.6%) in-line. (PR)
• United Technologies (UTX): Q2 EPS of $1.21 beats by $0.17. Revenue of $13.2B (-17.2%) vs. $13.9B. (PR)
• Unitedhealth Group (UNH): Q2 EPS of $0.73 beats by $0.03. Revenue of $22B (+6.8%) in-line. (PR)
• Western Union (WU): Q2 EPS of $0.32 beats by $0.02. Revenue of $1.25B (-6.9%) in-line. (PR)

Earnings: Monday After Close

• Allscripts-Misys Healthcare Solutions (MDRX): Q4 EPS of $0.16 beats by $0.01. Revenue of $166M (+71%) vs. $160M. (PR)
• Boston Scientific (BSX): Q2 adjusted EPS of $0.20 beats by $0.07. Revenue of $2.1B (-2.4%) vs. $2B. Sees Q3 EPS of $0.17-0.21 vs. $0.15 and Q3 revenue of $2B-2.1B vs. $2B. Sees FY09 EPS of $0.82-0.86 vs. $0.57 and FY09 revenue of $8.1B-8.4B vs. $8.2B. (PR)
• Canadian National Railway Company (CNI): Q2 EPS of C$0.82 beats by C$0.14. Revenue of C$1.8B (-15%) vs. C$1.7B. (PR)
• Legg Mason (LM): Q1 EPS of $0.35 beats by $0.13. Revenue of $613M (-42%) in-line. (PR)
• Lincare (LNCR): Q2 EPS of $0.49 beats by $0.02. Revenue of $380M (-11%) vs. $389M. (PR)
• Packaging Corp. of America (PKG): Q2 EPS of $0.28 beats by $0.12. Revenue of $549M (-11%) vs. $535M. (PR)
• Texas Instruments (TXN): Q2 EPS of $0.20 beats by $0.02. Revenue of $2.5B (-27%) vs. $2.4B. Sees Q3 EPS of $0.29-0.39 vs. $0.27 and Q3 revenue of $2.5B-2.8B vs. $2.5B. (PR)
• Werner (WERN): Q2 EPS of $0.18 in-line. Revenue of $403M (-30%) vs. $435M. (PR)
• Zions Bancorp (ZION): Q2 EPS of -$0.35 beats by $0.67. Taxable-equivalent revenue of $1.1B (+93%). (PR)

Today’s Markets

Asian markets closed mixed, European markets are moderately higher and U.S. futures show little movement.

• In Asia, Nikkei +2.7% to 9,652. Hang Seng flat. Shanghai -1.6% to 3,213. BSE -0.85% to 15,062.
• In Europe at midday, London +0.6%. Paris +0.8%. Frankfurt +0.8%.
• Futures: Dow +0.1%. S&P +0.1%. Nasdaq flat. Crude +0.4% to $64.27. Gold -0.1% to $947.90.

Tuesday’s Economic Calendar

• 7:45 ICSC Retail Store Sales
  8:30 Chicago Fed National Activity Index
  8:55 Redbook
  9:00 Bank of Canada Announcement
  10:00 Bernanke delivers semi-annual monetary policy testimony
  10:00 TARP chief Neil Barofsky presents quarterly report to Congress
  5:00 PM ABC Consumer Confidence Index
• Notable earnings before Tuesday’s open: AKS, ALV, AMTD, BJS, BTU, CAL, CAT, CMA, DD, DGX, ELN, FCX, FRX, HCBK, JEF, KO, LMT, LUV,LXK, MRK, PCP, RF, SGP, SHW, STT, UAUA, UNH, UTX, WU
• Notable earnings after Tuesday’s close: AAPL, AMD, AMLN, ATHR, BXP, CHRW, FULT, GILD, ILMN, LLTC, NBR, PPDI, PTV, QLGC, RHI, SBUX,SLM, STX, SYK, VFC, YHOO

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