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Daily Highlights: 4.8.10
- Asia stocks, oil fall on Japan orders, US credit; Euro weakens on Greece.
- Australia jobless rate holds at 5.3%; half US level.
- Bank of Japan may raise forecasts for growth, prices on export-led revival.
- Bernanke, Dudley say recovery is yet to produce major job gains.
- Bernanke: Huge US budget deficits threaten the nation's long-term economic health.
- China will eventually allow yuan to gain.
- Consumer borrowing falls $11.5 billion in February, reflecting weakness in credit cards and auto loans.
- China's central government launched a nationwide crackdown on safety violations in mines.
- Greece to seek support from Asia
- Greek bonds drop, spread widens, on budget woes.
- Indonesia stock 'bubble' spurs central bank to consider capital controls.
- Japanese machine orders unexpectedly fell 5.4% in February from January.
- OECD said UK shouldn't start to cut its budget deficit until next year.
- Agricultural Bank of China asks 21 investment banks to submit proposals for its planned $20B-plus IPO.
- Apogee Entrps misses by $0.08, posts Q4 EPS of $0.01. Revs fell 26.3% to $148.6M.
- AutoNation ups Q1 EPS view to $0.32-0.35 from earlier view of $0.29-0.32.
- Bed Bath & Beyond beats by $0.13, beats on revs; guides Q1 EPS above consensus.
- Constellation Brands breaks off merger talks with smaller rival Australian Vintage Ltd.
- Family Dollar' Q3 net rises 33% to $112.2M; ups FY EPS view to $2.48-2.58 (prev $2.15-2.35).
- France Telecom may spend EU 7 million on Africa deals.
- HCA to offer shares to the public.
- GM posted a $4.3B loss for its first six months out of bankruptcy.
- Monsanto plans to lower prices of some crop seeds, retreating from its long-range profit goal.
- Ruby Tuesday reports Q3 EPS of $0.28 (cons $0.23). Revs fell 3.2% to $307.3M. Raises FY10 EPS view to $0.60-0.65.
- Southwest Airlines Co. said average passenger revenue rose 22% in March.
- UAL and US Airways have resumed talks of a potential merger.
- US Steel announces charge of $27M related to new U.S. Health Care Legislation.
Economic Calendar: Data on Continuing Claims, Initial Claims to be released today.
Earnings Calendar: ABK, FNLC, FSC, ISCA, JOEZ, MRO, MXB, NWL, PIR, RPM, TBUS.
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Bernanke: Huge US budget deficits threaten the nation's long-term economic health.
When I see this stuff, I have to keep my blood from boiling. This is like a spoiled teenager driving way too fast and recklessly, all the while saying aloud, "I'm driving way too fast and recklessly".
It's not the thought that counts, it's what you DO....EXECUTE MAN!
I'm convinced that economists are incapable of completing a thought.
Bernanke whining about the deficit is like the older brother who tells you not to drink because he has a hangover and not to smoke because he has a cough from hanging out in a smoky bar all night.
'Execute', is right.
Greece to seek support from Asia
Hahahahahaha
Re Bernanke. What a laugh. He is part of the cabal that is creating gthe problem.
last year ruby tuesday was at 80 cents, yesterday it was at $12 even though nothing has really changed. I made the mistake of shorting that =x
From that bastion of truth, Bloomberg: /sarcasm
"April 8 (Bloomberg) -- More Americans unexpectedly filed initial claims for jobless benefits last week, in part reflecting difficulty in seasonally adjusting the data ahead of the Easter holiday.
Initial jobless applications increased by 18,000 to 460,000 in the week ended April 3, Labor Department figures showed today in Washington. The week leading up to Easter and the two weeks that follow are traditionally a “volatile time” for claims, a Labor Department analyst said, making it difficult to discern the underlying trend in applications."
Guarantee you that the above disclaimers wouldn't have been published had the numbers been "better than expected".
"...making it difficult to discern the underlying trend in applications."
Discern this:
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wow thank god for Bernankes wise words otherwise we would all think everything was recovering nicely
I'm glad he woke me up
chuck prince and bob rubin on c-span.
get ready to vomit
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