• OTC Derivatives: Is the DTCC Too Big To Fail?
    rc whalen
    02/09/2010 - 08:06
    At our firm we frequently receive calls from clients and readers asking about the likelihood of the passage by the Congress in Washington of reform legislation regarding over-the-counter (OTC) derivatives, financial regulation and/or mortgage securitization. Our answer is small to none given the political trends and the state of the lobbies in Washington, most specifically the large bank lobby that protects the Sell Side monopoly in OTC derivatives and securities. The fact that Senator Richard Shelby (R-AL) is still apparently not comfortable with the entirely watered down House proposal to reform OTC derivatives, for example, tells you all you need to know. Stick a fork in it.
  • Greece Implements Pension Reforms
    Leo Kolivakis
    02/09/2010 - 08:44
    Greece just implemented pension reforms in an attempt to shore up its public finances and others will follow suit...
  • Why Casinos Deserve Our Trust More than Banks
    smartknowledgeu
    02/09/2010 - 02:23
    Today, casinos have much more integrity in their business dealings than do banks. In general, casinos have more cash and more transparent business dealings with their clients than do banks. That's why it's so ironic that most large commercial banks, as part of their "moral code", do not allow private bankers to do business with casinos. It appears today, that the bankers got that one entirely wrong.

Daily Highlights: 11.17.09

Tyler Durden's picture
Submitted by Tyler Durden on 11/17/2009 08:23 -0500



  • Asian stocks fell, commodities declined after Fed voices concern over revival.
  • Bernanke signals 'extended' low-rate period may become longer as joblessness rises.
  • China shares rise for 3rd day to 14-week high on economic recovery outlook, led by banks.
  • Corruption watchdog rules Somalia still worst; Singapore, Denmark, New Zealand best.
  • IMF chief urges China to let yuan rise; says weak currency distorting Chinese economy.
  • Mauritius buys 2 tons of gold from IMF, following India, as gold nears record as dollar slumps.
  • Oil hovers below $79 as investors look to Asian growth to offset US weakness.
  • Singapore exports fall 13 percent in October from previous month, reversing growth.
  • U.S. regulators have seized or threatened at least 27 banks that received TARP funds.
  • Accor SA to make a final call by year end on whether to split its hotel and services units.
  • Alvaro de Molina resigned as chief executive of GMAC at the request of its board.
  • Assured Guaranty's Q3 loss narrowed to $35M helped by acquisition. Revs up 92%.
  • BofA, other banks sued over sales of derivatives by a California public utility.
  • Boeing gets first orders at Dubai Airshow for 11 737s from Algeria; Airbus minor wins.
  • Buffett nearly doubled his holdings of Wal-Mart in the quarter ended Sept. 30.
  • CapitaLand raises $1.79B selling shares in its CapitaMalls Asia Ltd.
  • China says Microsoft violated intellectual rights of local company Zhongyi Electronic Ltd.
  • CIT Group Inc. posted a loss of $1.03B in Q3 : SEC filing.
  • Devon Energy plans to sell all of its assets in Gulf of Mexico, overseas next year.
  • Konica Minolta says no plans to counter Canon's $1.1B bid for Oce NV.
  • Lehman sues Barclays over $5 'windfall' in bankruptcy acquisition.
  • Lowe's Cos. Q3 profit fell 30% to $344M, revs fell 3% to $11.4B.
  • Nortel Networks' Q3 loss narrowed to $508M; revs down from $1.6B to $1.05B.
  • Pacific Sunwear of California posted Q3 loss of $0.17/sh - 21% wider than expected.
  • RF Micro sees FY2010 free cash flow higher than forecast level of $130M.
  • Station Casinos loss balloons to $455.4M on bankruptcy effects; rev down 19%.
  • SunPower Corp. probes accounting errors, says don't rely on results.
  • UBS tells investors it aims for annual $15BN pretax profit in 3-5 years.

Economic Calendar: Data on PPI, Capacity Utilization, Industrial Production to be released.

Earnings Calendar ADSK, ALOT, COV, CRM, CSIQ, DDS, HD, KEI, LZB, PLNR, RTLX, SKS, TGT, TJX.

RECENT RATING ACTIONS
GMAC INC (GM1)
PENN NATIONAL GAMING INC (PENN)
JC PENNEY CO INC (JCP)
COMPUTER SCIENCES CORP (CSC)
ANADARKO PETROLEUM CORP (APC)
DEVON ENERGY CORP (DVN)
DOLLAR GENERAL CORP (DG)
KOHL'S CORP (KSS)
LOWE'S COS INC (LOW)
ALLIANCE ONE INTERNATIONAL (AOI)
REYNOLDS AMERICAN INC (RAI)
UNIVERSAL CORP/VA (UVV)
WALT DISNEY CO/THE (DIS)

Data provided by Egan-Jones Ratings And Analytics

0
Your rating: None

»


by Maximilien Robe...
on Tue, 11/17/2009 - 08:27
#133039

Tyler - where is the followup piece on VWAP referenced on Sunday?   I was checking the blackberry constantly yesterday, did I miss it?

by SDRII
on Tue, 11/17/2009 - 09:06
#133068

Oct. Producer Price Index: +0.3% vs. +0.6% expected, -0.6% last month. Core PPI: -0.6% vs. +0.1% expected, -0.1% last month - So crude goods explosing m/m whcih can mean only one of three things: (1) more firing to preserve margins or (2) margin compression or (3) inflation and further tax on middle class

PPI print comes in below expectation and yet:  fresh/dry vegtables +24% m/m, eggs +9% m/m, melons and fruits +7% m/m, shellfish +5% m/m, dairy +3% m/m, gas up 2% m/m -- but good thing those light trucks are down 5% m/m.

 

Crude goods: crude foddstuffs +5.2% m/m, wheat/corn up 7/9% , milk +8% m/m. Non food: cotton +9% m/m, nat gas +16% m/m, petro +6% m/m,  iron ore flat m/m (although trading back above 100/mt out of Aussy), scrap prices down (not good indicator either).

by gatopeich
on Tue, 11/17/2009 - 10:21
#133143

Wow, great news today, just like yesterday!

BTW, at some point this morning the Euro/USD was down by an amazing 1.5%. I though it was the beginning of something. But the markets seem to have learned how to keep floating...

Don't worry babe, if you fall I will save myself.

(Ford Fairlane, per the really funny Spanish translation).

by gatopeich
on Tue, 11/17/2009 - 10:40
#133174

Man, I kinda need to shout about this crazy market. The big stock of the day in Spain is Sacyr, a brick'n'mortar company which just presented a loss of 600M€. Then UBS rerated it from "sell" to "neutral". Gosh!

Gimme the blue pill!!!

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