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Daily Highlights: 5.19.10

Tyler Durden's picture




 
  • Asian, European stocks, commodities fall; Treasuries rise after Germany bans short selling.
  • Consumer prices in US may show inflation contained as economy recovers.
  • Germany to ban naked short-selling on certain financial stocks, soverign bonds.
  • Hedge Funds bet Europe's $1 trillion rescue package won't cure debt crisis.
  • Private Equity-backed US IPOs leave buyers with worst returns in decade.
  • US Regulators proposed new curbs to tame volatility; circuit breakers for every stock.
  • Amazon.com to launch a publishing arm to produce English translations of foreign books.
  • Ambac Fincl Grp's Q1 loss widened to $690.1M on accounting change, impact of derivatives.
  • Analog Devices' Q2 profit tripled to $167.1M as revs climbed 41% to $668.2M.
  • Banco Santander held talks with M&T Bank about combining its U.S. operations with the Buffalo, New York-based lender – report
  • BofA agreed to sell its entire stake in Itau Unibanco Holding in a transaction worth as much as $4.4 billion to boost capital.
  • CNPC agreed to acquire a 35% stake in Shell’s unit in Syria; deal est. worth $1.5B.
  • Deere's April net income rises from $472M to $547M.
  • Donaldson Co. expects Q3 EPS of $0.61-0.63 (cons $0.54); revs of $498M (cons $463M).
  • Home Depot Q1 profit rises 41% to $725M, raises full-year view.
  • HP posted a 28% increase in Q2 profit to $2.2B and a 13% jump in revenue to $30.85B.
  • Microsoft sued Salesforce.com for allegedly infringing on nine of its patents.
  • Pfizer will cut 6000 jobs, or 18% of its worldwide workforce, as it pares back operations following purchase of rival Wyeth.
  • Saks swings to Q1 profit of $18.8M on margin expansion. Revs rose 6.9% to $667.4M.
  • SunTrust Banks had the biggest drop in eight months after investors including Warren Buffett’s Berkshire Hathaway sold shares in the company.
  • Symantec is close to a deal to acquire a unit of VeriSign for about $1.3B.
  • Toyota to recall 4,500 Lexus vehicles in Japan to fix a computerized steering problem.
  • Wal-Mart warned that U.S. sales would continue to be slow in coming months.
  • WaMu amends bankruptcy plan, to return $7B to creditors; FDIC support unclear

Economic Calendar: Data on CPI, Crude Inventories to be released today.

Earnings Calendar: AAP, ABMD, ADSK, AMAT, BJ, CHS, DE, EV, GYMB, HOTT, HRL, LTD, TGT.

RECENT RATING ACTIONS

AGILENT TECHNOLOGIES INC (A)
ARCHER-DANIELS-MIDLAND CO (ADM)
PANTRY INC/THE (PTRY)
PSYCHIATRIC SOLUTIONS INC (PSYS)
ROWAN COS INC (RDC)
YRC WORLDWIDE INC (YRCW)
CHESAPEAKE ENERGY CORP (CHK)
MASSEY ENERGY CO (MEE)
AEP INDUSTRIES INC (AEPI)
LOWE'S COS INC (LOW)
SEALED AIR CORP (SEE)
UNIVERSAL HEALTH SERVICES (UHS)

Data provided by Egan-Jones Ratings and Analytics

 

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Wed, 05/19/2010 - 08:19 | 360351 snowball777
snowball777's picture

US Regulators proposed new curbs to tame volatility; circuit breakers for every stock.

Steeply progressive transaction tax idjits...make HFT pay already.


Wed, 05/19/2010 - 08:28 | 360358 LoneStarHog
LoneStarHog's picture

The European Space Agency was just called in to launch the EURO.  Amazing...

Wed, 05/19/2010 - 08:36 | 360370 UGrev
UGrev's picture

How long do you suspect they can pull it off before it hits <1.20? 2, 3 days? less?

Wed, 05/19/2010 - 08:39 | 360375 LoneStarHog
LoneStarHog's picture

Looks like it never achieved Orbital Speed and is rapidly falling back to Earth.

Wed, 05/19/2010 - 08:46 | 360386 LoneStarHog
LoneStarHog's picture

We just had a Secondary Launch...

Wed, 05/19/2010 - 08:47 | 360388 UGrev
UGrev's picture

Boosters just kicked in again..

Wed, 05/19/2010 - 08:31 | 360366 docj
docj's picture

Consumer prices in US may show inflation contained as economy recovers.

Just a thought, but could it be that "inflation" is "contained" only because the economy really isn't in much of a recovery?

Wed, 05/19/2010 - 08:48 | 360390 Henry Chinaski
Henry Chinaski's picture

Then again, it may not.  CPI negative in April. Who writes these headlines anyway? 

Wed, 05/19/2010 - 08:36 | 360373 ZackAttack
Wed, 05/19/2010 - 08:40 | 360377 unwashedmass
unwashedmass's picture

 

Monday is the option expiry in gold at the Comex....right now, the Cartel is facing quite a situation and needs to get the gold price dowwn, down, down......due to rapidly increasing demands for delivery...

here's the situation.....

Price #Calls
1100 7,105
1150 4,976
1200 18,103
1250 4,781
1300 5,306
1400 6,227
1800 5,814

so...(how bout those insanely optimist folks at 1800, eh? that speaks volumes about confidence in our "ruling elite's" plans)

any way, I think ZeroHedge should have a contest called HOW CORRUPT ARE OUR REGULATORS?

How -- in the face of one of the world's major currencies dying -- how far down will the CTFC let the Cartel push the price of gold?

Will they get the 1100 necessary to wipe out all call buyers? Corruption beyond redemption.

Will they get 1150? Corruption for all to see and understand....and to take as a warning never to trade on the Comex again.

Will they get 1200? Corruption is as normal as apple pie and all CTFC governors get a nice present from JPM.

Will they be unable to push below 1200? CTFC decides -- fifty bucks down -- to try and keep their governors out of jail

Will they lose the 1250, then the 1300 before Monday? Investors worldwide revolt, walk directly to physical and say the hell with all of you.....and cause JPM to book a less than perfect quarter and give their traders a bonus of just 5M FOR THE QUARTER.

Come on Zero, let's get this party started.....the cartel is already running the game.

Wed, 05/19/2010 - 08:49 | 360391 silvertrain
silvertrain's picture

 I dont think a dollar figure is on anybody's mind, what is, is getting gold in there hands..The masses are waking up and a dip in price is not going to make a difference FOR MOST.PEOPLE WANT the ultimate asset.. There will be a large portion that will leave it in there not matter what..

Wed, 05/19/2010 - 08:51 | 360393 Henry Chinaski
Henry Chinaski's picture

Excellent post.  News you can use.

Wed, 05/19/2010 - 08:57 | 360407 ZackAttack
ZackAttack's picture

Epic reflation FAIL:

 

http://www.bls.gov/news.release/cpi.nr0.htm

 

Wed, 05/19/2010 - 09:06 | 360415 PeaBird
PeaBird's picture

Pfizer will cut 6000 jobs, or 18% of its worldwide workforce, as it pares back operations following purchase of rival Wyeth.

There may be a joke somewhere about Babies drinking S-20 Gold baby-formula getting wood, with the merger of Pfizer & Wyeth, but here's an article to delves reasonably deep on the details of this Pfizer "Manufacturing Reconfigure":

http://www.biotechnologyireland.com/pooled/articles/BF_NEWSART/view.asp?Q=BF_NEWSART_319311

 

 

Wed, 05/19/2010 - 09:07 | 360424 jinzo
jinzo's picture

I miss Harry Wagner.

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