Wall Street Hubbub 7/21: Traders Nervous Ahead NFLX/BIDU Results, Dimon & Blankfein Not Welcome at FinReg Signing, Bernanke Set to Testify, BIIB/LLL/DTG In the Rumor Mill

Each day chatter and scuttlebutt dominates trading action on Wall Street. Below is a run-down of some things being talked about.

• Momentum monsters Netflix, Inc. (Nasdaq: NFLX) and Baidu, Inc. (Nasdaq: BIDU) report earnings after the close and traders on both sides are nervous. Volatility into and after the results will likely be extreme.
  
  
• There is a lot of banter about why JPMorgan's (NYSE: JPM) CEO Jamie Dimon and Goldman Sachs' (NYSE: GS) CEO Lloyd Blankfein weren't invited to to President Obama's singing of FinReg. Dimon, a past friend of the administration, has been critical lately and Goldman recently announced a $550 million SEC settlement. BofA's (NYSE: BAC) Brian Moynihan, Citi's (NYSE: C) Vikram Pandit, and Morgan Stanley's (NYSE: MS) James Gorman all received invitations, but only Vikram Pandit attended.
  
  
• All eyes will be on Federal Reserve Chairman Ben Bernanke's two-day testimony to Congress, which starts at 2PM ET. Will Ben hint about further easing measures?
  
  
• Has Biogen Idec Inc. (Nasdaq: BIIB) finally found a suitor? Rumors have been around for years even after the company's failed 2007 auction put a takeover in question. But with large pharma companies like Sanofi-Aventis (NYSE: SNY) and Eli Lilly & Co. (NYSE: LLY) on the prowl for deals and Carl Icahn more involved than ever, a takeover will almost certainly be the end game here.
  
  
• Europe's EADS said it is looking to make a U.S. acquisition with a focus on the military services sector, which has put the spotlight on L-3 Communications Holdings Inc. (NYSE: LLL).
  
  
• Avis Budget (NYSE: CAR) is now expected to submit its bid for Dollar Thrifty (NYSE: DTG) by tomorrow, which is expect to easilty top Hertz's (NYSE: HTZ) $41 per share offer. Dollar Thrifty is only modestly higher today (+2.5%) as many have been expecting the higher bid after Avis Budget said publicly in the past that it would submit a proposal and it would be "substantially higher."

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