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U.S. Day Ahead: What's Einhorn eying next

Monday, July 29, 2013 - 02:35

July 29 - David Einhorn's hedge fund Greenlight Capital reports second-quarter results. He is expected to talk about trading ideas and investors will be listening for what companies he mentions.

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Here's what you need to know for Tuesday Biotech and big pharma takes center stage for earnings. Amgen the world's largest biotechnology company by revenue reports Q2 results. The company is looking to get even bigger announcing plans to expand its operations in Japan and China. Japan is the world's second biggest market for prescription drugs after the US. And expanding middle class in China has made it an important growth target for drug maker. Analysts expect an EPS of one dollar and 74 cents up from the previous quarter of 161. -- share. The stock is up 31%. Over the past year. Investors are also awaiting Onyx Pharmaceuticals decision to seek other bids after turning down Amgen's ten billion dollar buyout offer at the end of June. Other pharma companies reporting results are Pfizer and Merck. The bottom of the screen for more companies reporting earnings and make sure to tune in to US morning call at 7:30 AM for the morning's headlines. Will get a gauge of consumer attitudes on the economy confidence numbers have ban on an upward trend since we saw the biggest decline in December of 2008. Our Reuters poll estimates a reading of 81 point four which is flat compared to June but up nearly seven points from may. There is confidence in the long term outlook for the job market but there is a rising number of consumers who think it is still hard to find a job. Also the Fed will start its two day policy meeting and there is a lot of opportunity for surprises. -- an uptick in economic data could mean the Fed will offer solid news on the future of -- stimulus program. Fed members are likely to have a lively debate on how to best prepare financial markets for winding down their bond buying program. And your top story what's David Einhorn crying now. Einhorn is expected to talk about the performance of his hedge fund Green -- Capital which reports Q2 results. And what trading ideas stood out as winners and losers in the quarter. I'm wearing is one of the north closely watched players in the two trillion dollar hedge fund industry. And a major apple shareholder. And his last green light earnings call he said he upped his stake in apple more than a million shares investors will be listening for what companies he mentions this time. You can follow us on Twitter at Reuters Insider and get more of our video that Reuters dot com slash writers he needs. I'm having fun.

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U.S. Day Ahead: What's Einhorn eying next

Monday, July 29, 2013 - 02:35