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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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This is -- trying to sort of morning.
The -- Good morning everyone Hewlett-Packard says an internal investigation has an -- accounting improprieties misrepresentations.
And disclosure failures.
In financial statements from autonomy -- software company HP acquired last year.
-- -- company alleges the improprieties occurred before the acquisition.
Shares of -- -- down more than 6% in the premarket HP also released earnings today reporting an adjusted profit of one dollar sixteen cents a share two pennies higher than the estimate.
Our revenue came in at thirty billion dollars that was a slight miss.
Checking the markets US futures are down across the board they were started searching for direction this morning -- -- Dow futures down almost thirty points.
-- and -- data back to the nasdaq's down one in Europe Moody's Investors Service lowered France's sovereign rating yesterday.
By one notch to double -- one stripping the country.
Of its coveted triple A rating if you look at markets in Europe were seeing mixed market at the moment London's down by about twelve Paris is down by almost fifteen.
And -- up.
By -- Taking a look at commodities we have oil and gold both to the downside.
As well let's take a closer look at what's moving -- European markets now with young lamb racks at rabobank overrun London.
-- on the eurozone and IMF are still at odds over what the target date should be.
For Greece to get its debt to 120%.
Of GDP more manageable and sustainable than what it is now.
But I just earlier actually -- that both groups are being unrealistic with their proposed targets -- great.
Yeah absolutely and -- we start really completely at the starting point here on a 3% is still very high as well the fact is to achieve to 120%.
Greece would have to sell.
Quite a bit of state assets it has made very little progress that you have to have that much more deficit reduction.
-- on top and that's a better economy better growth all of that it's not happening debt to GDP surging towards 16170%.
Of of GDP soon as far too high.
And a private sector.
There's not much -- left tests who really not talking about the official sector having to take a heck cuts that's the next step which you can imagine in Europe.
How deeply unpopular that is -- IMF has already.
Dubbed its official sector burden sharing with the IMF wants exempt itself -- -- comes down into the European Union and the ECB one major bond almost or Greek debt.
So many on pattern you reassured Greek lenders that they won't have to keep in definitely -- in this country money.
Well of the at least a private sector in the yes -- -- lenders have taken massive -- cuts already does not much left there.
About at the time to heck with -- place which roughly 75%.
Only 13 of the debt sort of privately held hands there's very little left there.
The rest of ccb and it's the European Union and it shouldn't be too surprised ultimately bill have to take a -- We know from history.
The countries that are as indebted as Greek case Greece is can only come out of that hole if given sufficient.
Debt forgiveness and -- on the cost adultery there will be an agreement -- -- this week.
That ultimately we'll have to happen to -- -- sustainable future.
That's down lamb -- at rabobank in London thanks so much down.
We're getting earnings -- now from Best Buy electronics retailers reporting an adjusted profit of three cents a share the estimate there was for twelve cents.
Revenue was a slight beat though that came in at ten point 75 billion dollars the expectation was for ten point 73 billion.
Scientists at Toshiba and Cambridge University reportedly -- working together to make the Internet.
A little safer the New York Times is reporting -- two sides are teaming up to perfect a cheaper approach to securing high speed fiber optic cables.
According to the paper the -- utilizes a new data scrambling system based on Quantum physics.
Making it possible to safely distribute secret keys necessary to scramble data over distances up to 56 miles.
Report -- the new technique will be valuable to protecting financial data.
And information transmitted over the Internet the research will be published today in the science journal physical review -- JPMorgan Chase -- -- -- new chief financial officer Marianne lake who currently serves as -- CFO of the firm's consumer and community banking division.
We'll move into her new position in the first quarter of next year she's also been -- to -- JPMorgan's operating committee closely -- circle.
Of high level executives the promotion makes like one of the few high ranking women on Wall Street.
Meanwhile current CFO Doug -- he will become a vice chairman for the bank and we'll focus on serving the company's top clients.
Here's a look at commodities oil and gold are both to the downside raising oil down down about 44 cents trading -- 89 dollars a barrel.
-- down almost three dollars at 1731.
Announce.
Coming up this hour Imus is guest will be actor and comedian -- more.
And now here's the -- -- live on Fox Business giving you that -- across.
