Weekly Newsletter July 22nd - July 28th

Current Events: Spain and Greece continue to worry investors as both countries debt managing ability is large question. The fear generated from the euro-zone crisis has set off the U.S. markets resulting in a hefty two-day hit. The recent slide has caused the Dow Industrials to slip to its first consecutive triple-digit point loss since April.

What to Look for This Week

Investors will look to the large stream of second-quarter earnings announcements this week for an opportunity admits the on-going saga with the euro-zone. Stocks from a wide variety of sectors are set to report this week, including energy, housing, pharmaceuticals, and technology. Every day names such as Chevron, Apple, Merck, Facebook, Amazon, and 3M will announce.

News Affecting the Markets

On Monday Moody's Investors Service lowered on Germany's triple-A rating from stable to negative. Growing uncertainties from the euro-zone crisis was the main culprit for the lowering. Other European countries were downgraded Monday as well, including the Netherlands and Luxembourg. Moody's stressed the fear of Greece abandoning the euro-zone and the catastrophic impact it would impose subsequently on Spain and Italy. Such a calamity would cause better rated countries, such as Germany, to step in and absorb most of the burden.

Smart Investing

When a Stock Price Declines: There are numerous reasons why a stock's price falls and it is up to you as a stock investor to determine the cause. By identifying why the price is falling, you are far better equipped to decide if it is time to sell your stock position or if the fall in value presents an opportunity to purchase additional shares of a stock. The key is neither to react every time a stock you own dips, nor to become so emotionally attached to an investment; the decision to sell a stock should be similar to the decision to buy a stock. But the price paid for a stock must be put aside when deciding if it is time to sell. Maintaining your objectivity during these times is important to your investing success. Unfortunately, there are no simple, mechanical rules that are effective for when to sell a stock. Nothing substitutes for an understanding of what economic, industry, and firm fundamentals drive your stock's price. By examining the situation rationally and doing your homework to determine if the fundamentals of the company have changed, you are better equipped to determine whether the time has come to sell your stock.

Earnings for the Week

Monday: Assured Guaranty Ltd (AGO), Baidu Inc (BIDU) {After the close}, Celanese Corp (CE) {After the close}, Coca-Cola Enterprises Inc (CCE), Eaton Corp (ETN), Fidelity National Financial Inc (FNF) {After the close}, Halliburton Co (HAL), Hasbro Inc (HAS), Health Management Associates Inc (HMA) {After the close}, Helix Energy Solutions Group Inc (HLX) {After the close}, McDonald's Corp (MCD), Steel Dynamics Inc (STLD) {After the close}, Texas Instruments Inc (TXN) {After the close}, VMware Inc (VMW) {After the close}, Zions Bancorporation (ZION) {After the close}

Tuesday: ACE Limited (ACE) {After the close}, Aflac Inc (AFL) {After the close}, AK Steel Holding Corp (AKS), Altera Corp (ALTR) {After the close}, Altria Group Inc (MO), Apple Inc (AAPL), AT&T Inc (T), Avery Dennison Corp (AVY), Boyd Gaming Corp (BYD), Broadcom Corp (BRCM) {After the close}, Cabot Oil & Gas Corp (COG) {After the close}, Centene Corp (CNC), Chicago Bridge and Iron Company NV (CBI) {After the close}, Compuware Corp (CPWR) {After the close}, Domino's Pizza Inc (DPZ), E. I. du Pont de Nemours and Co (DD), Edwards Lifesciences Corp (EW) {After the close}, EMC Corp (EMC), FMC Technologies Inc (FTI) {After the close}, Illinois Tool Works Inc (ITW), International Game Technology (IGT), Juniper Networks Inc (JNPR) {After the close}, Lexmark International Inc (LXK), Lockheed Martin Corp (LMT), Nabors Industries Ltd (NBR) {After the close}, Netflix Inc (NFLX) {After the close}, Newfield Exploration Co (NFX) {After the close}, Norfolk Southern Corp (NSC) {After the close}, Peabody Energy Corp (BTU), Regions Financial Corp (RF), Reynolds American Inc (RAI), Robert Half International Inc (RHI) {After the close}, Rockwell Collins Inc (COL), Ryder System Inc (R), Simon Property Group Inc (SPG), Tempur-Pedic International Inc (TPX) {After the close}, TripAdvisor Inc (TRIP) {After the close}, Under Armour Inc (UA), United Parcel Service Inc (UPS), Waters Corp (WAT), Weatherford International Ltd (WFT) {After the close}, Western Union Co (WU), Whirlpool Corp (WHR)

Wednesday: Akamai Technologies Inc (AKAM) {After the close}, Allegheny Technologies Inc (ATI), Ameriprise Financial Inc (AMP) {After the close}, AOL Inc (AOL), Assurant Inc (AIZ) {After the close}, Boeing Co (BA), Bristol-Myers Squibb Co (BMY), Caterpillar Inc (CAT), Cliffs Natural Resources Inc (CLF) {After the close}, CNO Financial Group Inc (CNO) {After the close}, Community Health Systems Inc (CYH) {After the close}, ConocoPhillips (COP), Cooper Industries PLC (CBE), Corning Inc (GLW), Delta Air Lines Inc (DAL), Digital Realty Trust Inc (DLR), Duke Realty Corp (DRE) {After the close}, Eli Lilly and Co (LLY), Equifax Inc (EFX) {After the close}, Equity Residential (EQR) {After the close}, General Dynamics Corp (GD), Hess Corp (HES), KBR Inc (KBR) {After the close}, Las Vegas Sands Corp (LVS) {After the close}, Lorillard Inc (LO), LSI Corp (LSI) {After the close}, Motorola Solutions Inc (MSI), New York Community Bancorp Inc (NYB), Northrop Grumman Corp (NOC), Oceaneering International Inc (OII) {After the close}, Omnicare Inc (OCR), Owens-Illinois Inc (OI) {After the close}, PepsiCo Inc (PEP), Praxair Inc (PX), Questar Corp (STR) {After the close}, RadioShack Corp (RSH), Rockwell Automation Inc (ROK), Ryland Group Inc (RYL) {After the close}, Senior Housing Properties Trust (SNH), Shutterfly Inc (SFLY) {After the close}, Skechers USA Inc (SKX) {After the close}, Southern Co (SO), Teradyne Inc (TER) {After the close}, Terex Corp (TEX) {After the close}, Tesla Motors Inc (TSLA) {After the close}, The Cheesecake Factory Inc (CAKE) {After the close}, The Jones Group Inc (JNY), Thermo Fisher Scientific Inc (TMO), Trinity Industries Inc (TRN) {After the close}, US Airways Group Inc (LCC), Visa Inc (V) {After the close}, W. R. Grace & Co (GRA), WellPoint Inc (WLP), Western Digital Corp (WDC) {After the close}, Whiting Petroleum Corp (WLL) {After the close}, Whole Foods Market Inc (WFM) {After the close}, Wyndham Worldwide Corp (WYN), Zynga Inc (ZNGA) {After the close}

Thursday: 3D Systems Corp (DDD), 3M Co (MMM), Acme Packet Inc (APKT), Agco Corp (AGCO), Alaska Air Group Inc (ALK), Amazon.Com Inc (AMZN) {After the close}, Ball Corp (BLL), Boston Scientific Corp (BSX), Brunswick Corp (BC), Bunge Ltd (BG), CA Inc (CA), Cameron International Corp (CAM), CBL & Associates Properties Inc (CBL) {After the close}, CBRE Group Inc (CBG), Chubb Corp (CB) {After the close}, CME Group Inc (CME), CMS Energy Corp (CMS), Colgate-Palmolive Co (CL), CONSOL Energy Inc (CNX), Covidien PLC (COV), Dr Pepper Snapple Group Inc (DPS), Ensco PLC (ESV), EQT Corp (EQT), Exxon Mobil Corp (XOM), Facebook Inc (FB) {After the close}, Federated Investors Inc (FII) {After the close}, Gilead Sciences Inc (GILD) {After the close}, GNC Holdings Inc (GNC), Ingram Micro Inc (IM) {After the close}, International Paper Co (IP), Janus Capital Group Inc (JNS), Kennametal Inc (KMT), Key Energy Services Inc (KEG) {After the close}, Kimberly-Clark Corp (KMB), L-3 Communications Holdings Inc (LLL), McGraw-Hill Companies Inc (MHP), McKesson Corp (MCK) {After the close}, MetroPCS Communications Inc (PCS), Molina Healthcare Inc (MOH) {After the close}, Moodys Corp (MCO), Mylan Inc (MYL), National Oilwell Varco Inc (NOV), Noble Energy Inc (NBL), Occidental Petroleum Corp (OXY), Old Republic International Corp (ORI), Oshkosh Corp (OSK), Patterson-UTI Energy Inc (PTEN), Power-One Inc (PWER) {After the close}, Principal Financial Group Inc (PFG) {After the close}, Prologis Inc (PLD), PulteGroup Inc (PHM), Raytheon Co (RTN), Regal Entertainment Group (RGC) {After the close}, Safeguard Scientifics Inc (SFE), Sprint Nextel Corp (S), Standard Pacific Corp (SPF) {After the close}, Starbucks Corp (SBUX) {After the close}, Starwood Hotels & Resorts Worldwide Inc (HOT), Tenneco Inc (TEN), The Hershey Co (HSY), United Continental Holdings Inc (UAL), United Technologies Corp (UTX), Universal Health Services Inc (UHS) {After the close}, Veeco Instruments Inc (VECO) {After the close}, Ventas Inc (VTR), Verisign Inc (VRSN) {After the close}, Vulcan Materials Co (VMC), Waddell & Reed Financial Inc (WDR), Waste Management Inc (WM), Watson Pharmaceuticals Inc (WPI), Zimmer Holdings Inc (ZMH)

Friday: Aon PLC (AON), Arch Coal Inc (ACI), Calpine Corp (CPN), Chevron Corp (CVX), Colfax Corp (CFX), Coventry Health Care Inc (CVH), DR Horton Inc (DHI), Helmerich & Payne Inc (HP), Hercules Offshore Inc (HERO), KKR & Co. L.P. (KKR), Legg Mason Inc (LM), LyondellBasell Industries NV (LYB), Merck & Co Inc (MRK), Newell Rubbermaid Inc (NWL), Newmont Mining Corp (NEM), Rosetta Genomics Ltd (ROSG), Weyerhaeuser Co (WY)
* Earnings dates and times are subject to change

Economic Data this Week

Monday
No announcements scheduled.

Tuesday
FHFA Housing Price Index @ 10:00 AM for May (Est. = n/a, Prior = 0.8%)

Wednesday
MBA Mortgage Index @ 7:00 AM for 07/21 (Est. = n/a, Prior = n/a)
New Home Sales @ 10:00 AM for June (Est. = 373K to 375K, Prior = 369K)
Crude Oil Inventories @ 10:30 AM for 07/21 (Est. = n/a, Prior = n/a)

Thursday
Initial Claims @ 8:30 AM for 07/21 (Est. = 381K to 385K, Prior = 386K)
Continuing Claims @ 8:30 AM for 07/14 (Est. = 3300K, Prior = 3300K)
Durable Orders @ 8:30 AM for June (Est. = 0.3% to 1.0%, Prior = 1.3%)
Pending Home Sales @ 10:00 AM for June (Est. = 0.9% to 1.0%, Prior = 5.9%)

Friday
GDP @ 8:30 AM for Q2 (Est. = 0.3% to 1.2%, Prior = 1.9%)
Michigan Sentiment @ 9:55 AM for July (Est. = 71.5 to 72.0, Prior = 72.0)