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Daily Highlights: 5.14.2010

Tyler Durden's picture





 
  • Foreign investment in China up 25% in April amid growing interest in rebounding economy.
  • Euro breaks 14-month low as debt-cutting steps may hurt growth.
  • Hong Kong economy expands 2.4 percent in 1Q, fourth straight quarter of growth.
  • India inflation eases to 9.6 percent in April, but food and fuel costs remain troublesome.
  • Oil prices fell below $74/bbl amid expectations a slower economic recovery in Europe.
  • Sales at U.S. retailers probably rose in April for a seventh straight month: Survey.
  • Senate voted for a provision that would thrust govt into the process of determining who rates complex bond.
  • Spain's core inflation rate drops for first time since 1986 amid job cuts.
  • Stocks decline in Europe, Asia on growth concern; US index futures drop.
  • Volcker says Euro's disintegration is potential consequence of debt crisis.
  • Blockbuster posts Q1 loss of $65.4M as revenues declined 13% to $939.4M.
  • BP wasn't prepared for leak, CEO says.
  • CA Inc. reported a 55% jump in Q4 profit at $101M as revs rose 6.6% to $1.1B.
  • Con-way prices 4.3 mln common shares at $35.00/sh.
  • EADS's net profit fell 39% to €103M on deteriorating currency hedge positions.
  • Healthscope gets $1.6B buyout offer from PE group; shares surge most in a decade.
  • Kohl's Q1 earnings rose a better-than-expected 45% to $199M, led by 11% rise in revs.
  • Mizuho Financial swings to Q4 profit, plans $8.6B rights issue to bolster capital.
  • Nordstrom raised its fiscal 2010 earnings forecast after reporting Q1 profit rose 44%.
  • NTT swings back to profit of $789.6M, cancels shares.
  • Nvidia swings to Q1 profit of $137.6M. Revs up 51% to $1B helped by corporate spending.
  • Posco was named preferred bidder for a controlling stake in Daewoo International.
  • Shinsei Bank, Aozora Bank said they have scrapped their merger agreement.
  • TPG raised $1.25B from selling just over half of its 4% stake in Ping An Insurance.
  • Transocean asks Court to cap Gulf Rig disaster liability at $26.7M.
  • Urban Outfitters' Q1 net surged 72% to $53M as margins widened to 42% from 37%.
  • Wendy's/Arby's Group's Q1 loss narrowed to $3.4M. Revs declined 3.1% to $837.4M.

Economic Calendar: Data on Retail Sales, Capacity Utilization, Business Inventories to be released.

Earnings Calendar: IG, JCP, KINS, NASB, SPNS, TLX, VARI, VOXX, VSAT.

RECENT RATING ACTIONS
HUNTSMAN CORP (HUN)
PROCTER & GAMBLE CO/THE (PG)
UNITED STATES STEEL CORP (X)
WENDY'S/ARBY'S GROUP INC (WEN)
SIRIUS XM RADIO INC (SIRI)
NOKIA OYJ (NOK1V FH)
APARTMENT INVESTMENT (AIV)
ASHLAND INC (ASH)
STATE STREET CORP (STT)
FIDELITY NATIONAL INFORMATION (FIS)
WALT DISNEY CO/THE (DIS)
SOUTHERN UNION CO (SUG)

Data provided by Egan-Jones Ratings and Analytics

 


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Fri, 05/14/2010 - 08:13 | Link to Comment Noah Vail
Noah Vail's picture

I love it, "Sales Probably rose. We are in the new world of media speculation as "news" where probably passes for facts. Where is Orwell now that we need him?

Fri, 05/14/2010 - 08:44 | Link to Comment TheGoodDoctor
TheGoodDoctor's picture

Yeah I have noticed that for some months. I read the article and have a chuckle.

Fri, 05/14/2010 - 08:15 | Link to Comment peripatetic86
peripatetic86's picture

Exactly.  Just look at the Unemployment #'s where you have BLS guesses on jobs created and lost.  Orwell is doing 180's in his grave.

Fri, 05/14/2010 - 08:30 | Link to Comment Internet Tough Guy
Internet Tough Guy's picture

Oil under 74? The quote I see is over 77...someone is wrong.

Fri, 05/14/2010 - 08:35 | Link to Comment HarryWanger
HarryWanger's picture

Heading into first meeting soon on a gorgeous Chicago morning with Retail Sales just coming in much stronger than expected. This is exactly what I told you all yesterday after a day of meetings regarding consumer strength. 

Now we can get back to the reality of growth in the US other than the fear mongering of a debt issue overseas that has been addressed and has little impact here.

Fri, 05/14/2010 - 08:46 | Link to Comment Internet Tough Guy
Internet Tough Guy's picture

I see the circus is back in town.

Fri, 05/14/2010 - 10:20 | Link to Comment Takingbets
Takingbets's picture

The Wanker strikes again with the nothing to see here folks, move along the platform and into the shark tank. Lol!!!

Fri, 05/14/2010 - 09:42 | Link to Comment mdtrader
mdtrader's picture

Mmmmh yeah no impact apart from a big haircut in overseas revenues for the big US multi-nationals, oh and they just happen to be the big weights in the index, and where everybody is long in fund manager land! If you put sterling and euro revenues together it's a big market you know, factor in a 20% haircut and see how those earnings forecasts look. Not to mention the effect of the austerity measures that are going to have to be applied throughout Europe, and the fact that US exports are getting more expensive to overseas buyers by the minute.

Mon, 05/16/2011 - 21:38 | Link to Comment tony1983
tony1983's picture

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