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Thursday, July 9, 2015

Belvedere & Schacknow CNBC Squawk Box - July 9, 2015


Compiled by
Matthew J. Belvedere and Peter Schacknow


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IN THE NEWS TODAY
U.S. stock futures were sharply higher this morning as the battered Chinese market staged a late session turnaround and Europe opened higher on hopes of a solid reforms proposal from Greece. (CNBC)
The recent meltdown in Chinese stocks-which sent Wall Street to its lowest levels in months Wednesday-abated overnight on fresh regulatory support. The Shanghai composite gained nearly 6 percent. (CNBC)

U.S. oil prices bounced this morning, in part, on the rebound in Chinese stocks, after slipping to a three-month low Wednesday. (Reuters)

Ahead of Sunday's deadline for a bailout agreement, Greece is due to present reform proposals to its lenders today, which could include widespread tax hikes and pension overhauls. | Live blog (CNBC)

Against a backdrop of international uncertainty, the NYSE is looking to get back to normal this morning, after technical problems halted floor trading for more than three hours Wednesday. (CNBC)

Pepsico (PEP) today reported second quarter earnings and revenue thatexceeded forecasts. The soft drinks and snacks giant also raised its outlook. (AP)

Alcoa (AA) late Wednesday reported second quarter earnings that missedexpectations but revenue that beat. Alcoa also raised its forecast for an ongoing global aluminum surplus. (CNBC)

EU antitrust regulators sent MasterCard (MA) a charge sheet today,outlining concerns that the company artificially raises the costs of credit card payments. (Reuters)

The recalls at Honda (HMC) over defective Takata air bags have grown by another 4.5 million vehicles-none in North America-raising the tally at the Japanese automaker to 24.5 million. (AP)

Apple (AAPL) is preparing for a larger initial production run of its next iPhones,betting that even modest hardware changes will entice consumers to upgrade devices. (WSJ-subscriptions)

Yahoo (YHOO) has released a new version of its fantasy sports mobile appthat allows legal online gambling-taking on two well-funded startups, FanDuel and DraftKings. (Re/code)

Legislation to remove the Confederate flag from the grounds of the South Carolina state capitol received final passage early this morning-sending the measure to Republican Gov. Nikki Haley for her signature. (AP)

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