Global markets are mixed on Monday as a widely watched German business sentiment index fell for the fourth consecutive month and expectations for more easing of monetary policy by the world's central banks holds steady.
Here are the stocks we're watching today:
*Samsung Electronics Co. Ltd., the global consumer electronics firm, saw its shares tank by 7.5 per cent, wiping out $12 billion of the South Korean company's market value, as a result of Apple Inc.'s recent victory against it in a U.S. patent lawsuit. The outcome of the lawsuit has raised concerns that Samsung's smartphone business is in jeopardy. Analysts estimate Samsung's earnings will be reduced by 4 per cent this year due to increased patent-related provisioning.
*Tiffany & Co., the New York City-based jeweler and luxury accessories brand, lowered its fiscal year sales and profit forecasts due to global economic conditions and weak sales in its key markets. The company reported net income of $91.8 million, or 72 cents per share, for the second quarter compared to $90 million, or 69 cents per share, one year ago.
*Yukon Nevada Gold Corp., a Vancouver-based mid-tier North American gold producer, will report its second quarter financial results this morning. Its primary asset is the Jerritt Canyon gold mine located north of Elko, Nev. YNG also holds a portfolio of precious metals properties in B.C. and the Yukon including the Ketza River mine. The mining company recently announced it'd pursue a listing of its shares on the New York Stock Exchange.
*United Parcel Service Inc., announced last Friday that it will restructure pension liabilities for about 10,200 employees and it'll take a one-time charge of $896 million in the third quarter as a result. That charge represents the present value of the company's $2.1 billion withdrawal liability from the original pool, which it will pay over the next 50 years. UPS' shares closed at $75.72 last Friday.