DJIA / Market Close for Monday, June 20, 2011

After the close…

We have TOBC up +33% on M&A news and WLP down -0.3% after reaffirming guidance.

Renewed concerns about the fiscal future of Greece caused stocks to wobble before some broad buying gave the major equity averages some solid gains in afternoon action. Although some sellers tried to fade the advance in the final hour of trade, stocks were still able to settle with solid gains.

Today, WLP reaffirmed fiscal year 2011 earnings guidance of at least $6.60, excluding net investment gains of $0.10 per share, vs. $7.07 Capital IQ Consensus Estimate. Officers of WellPoint expect to speak with securities analysts and investors during the period commencing on June 20, 2011, and ending on June 30, 2011. This outlook includes no investment gains or losses beyond those recorded during the first quarter of 2011.

After the close, RENN, the China-based social networking company reported a loss of $2.6 million, or 4 cents per American Depositary share, for its fiscal first quarter ended March 31, on revenue of $20.6 million. In the same period a year earlier, Renren lost $12.1 million, or 14 cents a share, on revenue of $14 million.

Futures are higher after hours, with S&P 500 futures up +0.34 from fair value of 1272.86 and Nasdaq 100 futures up +0.99 from fair value of 2200.51.

Tomorrow before the open, there are no economic reports are scheduled to be released.

Also tomorrow before the open, notable stocks expected to report earnings include BKS, CCL, CMC, GRB, JEF, and WAG.

Read more: http://www.briefing.com/investor/markets/after-hours-report/tobc–and-33-on-m-and-a-news-wlp-03-reaffirms-guidance.htm#ixzz1PrmVSJKW

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