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Daily Highlights: 2.1.10

Tyler Durden's picture




 
  • Annual inflation rate in 16 countries that use the euro rose to an 11-month high of 1%.
  • Asian stocks fall as China manufacturing reports spur tightening concerns.
  • Australian borrowing for home- buying fell to a five-year low last month on higher lending rates.
  • China’s manufacturing expanded at second-fastest pace since 2008 in Jan, helped by exports.
  • China's stocks slide to four-month low on tightening concern.
  • Dubai world silence on debt standstill evaporates bailout rally.
  • Euro proving no reserve alternative as Central Banks lead shift in assets.
  • European stock markets started February on a negative note following Friday's US decline.
  • France's remaining 3G mobile frequencies will be auctioned off in mid-February.
  • IMF's Strauss-Kahn expects global economy recovery will be fragile and asymmetrical.
  • Obama's $3.8 trillion budget forecasts a $1.6 trillion deficit for 2010 before it drops.
  • Oil trades below $73 after falling amid concern over pace of demand growth.
  • Treasury's Geithner testifies before Senate on FY11 budget today.
  • UK PM Brown: Economy still faces "tough" times.
  • U.S. deflation no longer a risk says Fed's Bullard.
  • AstraZeneca said it would continue cutting jobs by eliminating another 10,400 by 2014.
  • Citigroup said to plan sale, split-off of $10B private-equity unit.
  • CME Group a prime contender to buy a Dow Jones index unit: reports.
  • Deadline for Sichuan Co. to buy GM's Hummer has been pushed back from end of Jan to the end of February.
  • Garuda Indonesia plans $300M IPO this year for aircraft, expansion.
  • Gazprom posts 33% rise in Q3 net at $5.75B helped by FX and lower taxes.
  • Honda declines after biggest recall in seven years.
  • Infineon swings to Q1 profit of $90.8M on higher demand, ups Y10 EPS guidance.
  • JPMorgan may only buy non-US units of RBS Sempra: reports.
  • News Corp. to pay $500M to settle a lawsuit with Valassis Comm over coupon marketing.
  • Ryanair lifts guidance after losses narrowed to €10.9M.
  • Siemens to cut 2,000 jobs in Germany on expectations of lower demand to continue.
  • Toshiba's Q3 loss narrowed to $118.3M on higher chip prices. Revs up 6.1%.

Economic Calendar: Data on Personal Income & Spending, Construction Spending & ISM Index.

Earnings Calendar: ACV, APC, CCK, FSNM, HEW, HOLX, HUM, MDU, RCII, TUP.

RECENT EGAN-JONES RATING ACTIONS

CONOCOPHILLIPS (COP)
TOYOTA MOTOR CORP (7203 JP)
SHERWIN-WILLIAMS CO/THE (SHW)
AMAZON.COM INC (AMZN)
NEWELL RUBBERMAID INC (NWL)
INTERNATIONAL GAME TECHNOLOGY (IGT)
UAL CORP (UAUA)
BALLY TECHNOLOGIES INC (BYI)
AMERIGAS PARTNERS LP (APU)
MATTEL INC (MAT)
UAL CORP (UAUA)
CROWN CASTLE INTERNATIONAL (CCI)
PRAXAIR INC (PX)

Data provided by Egan-Jones Ratings and Analytics

 

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Mon, 02/01/2010 - 09:19 | 213143 AN0NYM0US
AN0NYM0US's picture

good article from Jesse

"And that is the nature of Goldman. Gather up as many customers as possible, aggregate the available information to achieve a superior market view and then relentlessly extract rents from the marketplace. Better yet, tell yourself you’re smarter than everyone else and you’ve earned the rents from the symbiosis."

http://jessescrossroadscafe.blogspot.com/2010/01/front-running-markets.html

Mon, 02/01/2010 - 09:49 | 213164 phaesed
phaesed's picture

ROFL

 

Judd Gregg - " I Believe it was Einstein who said 'the definition of insanity is doing the wrong thing over and over again and expecting change'"

LOL. It's "the same thing".

Maybe he should have thought about that when he voted for Bernanke.... again.

Perhaps Einstein should have said the definition of insanity is believing politicians are anywhere near intelligent :)

Mon, 02/01/2010 - 10:43 | 213200 SWRichmond
SWRichmond's picture

From Bloomberg:

The $1.6 trillion deficit forecast for the current year represents 10.6 percent of the U.S. gross domestic product

And remember, kids, the US GDP grew in the last quarter of '09 at a 5.7% annual rate.  Do the math.  We're dead men walking.

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