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Daily Highlights: 5.21.10

Tyler Durden's picture





 
  • Asian shares were down Friday, but many markets were off their lows by closing.
  • China’s stocks fell to its worst week in 15 months, on the nation’s policy tightening.
  • Crude oil is poised for a third weekly decline on European debt crisis
  • FDIC said US banking industry continued to face challenges in Q1 2010.
  • Germany's gross domestic product rose 0.2% in the first quarter of the year.
  • Japan's central bank keeps rates steady and upgrades its economic outlook.
  • US Senate approves Wall Street Financial Overhaul Bill after 59-39 vote.
  • Yen weakens versus Dollar, Euro, paring weekly gains.
  • Abbott to buy Piramal unit for $3.7B, becoming top Indian drugmaker
  • Aeropostale's Q1 profits jumped 43% to $45.4M on higher sales, margins.
  • Amgen cancer-drug research offers first proof of Biotech's new direction
  • Bank of Japan to provide loans to banks to spur lending and defeat deflation
  • Brocade reports Q2 EPS of $0.13, excl. non-recurring items. Revs fell 1% to $501M.
  • Buckle Inc.'s Q1 profit rose 12% to $30.1M as sales increased 7.6% to $214.8M.
  • Children's Place Retail Stores ups 2010 EPS view to $3.05-3.15 (prev $2.90-3.10).
  • China's Pension fund invests more than $2.2 billion in agricultural bank
  • Dell's qtrly profit rose 52% to $441M as revs jumped 21% to $14.87B.
  • Dollar Tree's Q1 earnings rose 5.3% despite inventory-related charges. Revs up 13%.
  • Foot Locker beats by $0.06, reports Q1 EPS of $0.34. Revs rose 5.3% to $1.28B.
  • Intuit sees 2010 EPS at $2.03-2.06 (prev $1.97-2.04); revs of $3.41-3.43B (prev $3.3-3.4B).
  • Marvell beats by a cent, posts Q1 EPS of $0.38. Revenues rose 64.2% to $856M.
  • RBS looking at a private sale of Priory Group after shelving its IPO plans.
  • Staples Inc.'s Q1 earnings rose 32% to $188.8M on better-than-expected sales growth.
  • Target's profit rises 29% on strong sales, improved credit-card operations.
  • Telecom Vodafone Grp in talks to sell its 55% stake in Vodafone Egypt for around 3B pounds.
  • Toyota will acquire a $50M stake in California electric-car maker Tesla Motors Inc.
  • Visa had decided to deposit $500M into a litigation escrow account.
  • Vodafone to be in talks to sell $4.3B stake in Egyptian unit
  • Wells and LNR to seek sale of $2B in commercial loans and property
  • Williams-Sonoma swings to Q1 profit on better sales. Ups 2010 EPS view to $1.39-1.48.
  • Woolworths may sell bonds in Australia as $2.5B of debt matures

Earnings Calendar: ANN, FRO, GRO, HIBB, TECD, UVV, WNS.

RECENT RATING ACTIONS
ADVANCE AUTO PARTS INC (AAP)
BON-TON STORES INC/THE (BONT)
BP PLC (BP/ LN)
ROCKWELL AUTOMATION INC (ROK)
HORMEL FOODS CORP (HRL)
MILLIPORE CORP (MIL)
HONEYWELL INTERNATIONAL INC (HON)
HOME DEPOT INC (HD)
TARGET CORP (TGT)
HARTFORD FINANCIAL SERVICES (HIG)
E*TRADE FINANCIAL CORP (ETFC)
OCCIDENTAL PETROLEUM CORP (OXY)

Data provided by Egan-Jones Ratings and Analytics

 


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Fri, 05/21/2010 - 08:11 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

I was expecting a bounce this morning.  Looks like the PTB really have their hands full this morning keeping futures up.  I sincerely hope they end up owning 100% of this POS market.

Thoughts on gold/silver over the next week?

Fri, 05/21/2010 - 08:13 | Link to Comment John McCloy
John McCloy's picture

Annnnddd were back. I beginning to think it was black bag time. Anyway why has the BP Live oil leak feed just vanished? The site is up but no stream for hours now.

Fri, 05/21/2010 - 08:15 | Link to Comment No Hedge
No Hedge's picture

China tightening???

ZH turned to be like CNBC...come on guys :-)

By Bloomberg News
     May 21 (Bloomberg) -- The People’s Bank of China will
deposit 40 billion yuan of cash with banks for three months on
May 25, it said in a statement posted on its website today.

--Luo Jun

Link to Company News:{PBCZ CH <Equity> CN <GO>}

 

Fri, 05/21/2010 - 08:15 | Link to Comment lewy14
lewy14's picture

LIBOR-OIS is going hockey-stick at this hour.

http://www.bloomberg.com/apps/cbuilder?ticker1=.LOIS3%3AIND

Fri, 05/21/2010 - 08:56 | Link to Comment doublethink
doublethink's picture

 

Oilmageddon

 

It's worse than you think. Photos and videos:

 

http://www.dailykos.com/storyonly/2010/5/20/868302/-Oilmageddon-survivor...

 

Fri, 05/21/2010 - 09:06 | Link to Comment saulysw
saulysw's picture

Dow 10,000 ... again?

Fri, 05/21/2010 - 09:24 | Link to Comment Rich_Lather
Rich_Lather's picture

why no more frontrunning, Tyler?

Fri, 05/21/2010 - 12:35 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The nissan leaf is being artvertised freely.  We had the capability to drive electric cars 150 mph for 500 miles and the battery only needed 6 hours to charge in the year 2000.  Now they give us the tech.

blah.

Goog today?  Not the stock!  The interface.....

Pacman, "Insert coin".....

Virtual Currenseas!!!

Shit!  Not those!

How about it's a crazy world we're living in....

http://www.youtube.com/watch?v=REfDCPhPQQ4

Do NOT follow this link or you will be banned from the site!