| BHP Billiton (GBp 1589 ; -2.22% ; BLT ; BIL.J)
On Wednesday, BHP Billiton may report a 2H pre-tax profit of appx. $5.3bln. Recently, the Co reported 4Q iron ore production of around 27m tons, down 10% YoY. Total petroleum output was 37.56m bbl, up 4%. In addition, the Co named Jac Nasser as Chairman, replacing Don Argus. Technically, the stock remains bullish above its 20D MA. the stock is more likely to test its nearest resistance at 1635 before a further bounce towards 1740. ING Groep (EUR 9.22 ; -0.25% ; INGA ; ING.AS)
The same day, ING Groep may post 2Q net income of appx. E320m compared to a loss reported last year. Earlier, the bank agreed to sell its non-core Annuity and Mortgage businesses in Chile to Corp Group Vida Chile for un undisclosed price. Besides, the Co is seeking bids for its private banking operations in Asia and Switzerland according to a Reuters report. From a technical view, the stock continued to consolidate last week above a major support at E8.55. Hence, we expect a further up move towards E10 in the forthcoming days. Nestle (CHF 44.12 ; 0.78% ; NESN ; NESN.VX)
Wednesday, Nestle could release 1H net income of SF4.8bln vs SF5.2bln a year ago on sales of SF52.6bln, almost unchanged YoY. Recently, the Co completed its SF15bln stock buyback initiated on August 2007 and could consider starting another share buyback of SF10bln soon. From a technical view, the stock is still bullish within a rising channel, as well as being supported by an ascending 20D MA since the middle of last June. Therefore, a further rise may be in sight with targets at SF46.5 and SF47.7. RWE (EUR 58.72 ; -1.43% ; RWE ; RWEG.DE)
Thursday, RWE AG, the German utility giant, is expected to unveil 2Q net income of about E1.1bln compared to E347m a year ago. Last week, the Co's price target was cut to E72 from E74 at Morgan Stanley. Earlier, RWE's Dea unit agreed to take a 70% stake in the Breagh British North Sea natural gas field. Technically, the stock still remains under pressure below a huge medium-term resistance at E60.5. In the short-term, a re-test of this level cannot be ruled out and considering the positive equity markets an upside breakout even possible. Wal-Mart (USD 49.29 ; -1.18% ; WMT ; WMT.N)
On the same day, Wal-Mart Stores may announce 2Q EPS of appx. $0.86 in line with last year. Recently, the Co and Williams Lea, a global business outsourcing company signed a multi-year print services agreement. In addition, the Co could raise 100bln yen by selling bonds to Japanese investors. Technically, the stock remains capped by a MT declining trend line. As long as $50.5 holds on the upside, a further pullback is expected to $47.5 at first. Selection of those events which may affect the stock prices of international Large Caps |
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