Daily Highlights: 7.15.10

• Asia stocks, commodities decline as China growth slows, Fed cuts outlook.
• Back-to-school spending may rise as much as 16% in US - Natl Retail Federation.
• BOJ says Japan's growth will slow next year, keeps benchmark rate at 0.1%.
• China’s stocks dropped, after GDP growth eases to 11.1% in first half from year earlier.
• China’s June crude-oil processing rose at the most gradual pace in eight months.
• FDIC accuses 4 former executives of failed IndyMac of negligence in making loans.
• IMF sees Irish deflation through 2011; predicts a 1.8% fall in prices in 2010, a 0.5% fall next.
• Industrial production in the US fell in June for the first time in a year: Bloomberg Survey.
• More than 1M American households likely to lose their homes to foreclosure this year: RealtyTrac.
• Spain to sell 15-year bonds in debt auction as deficit pressures increase.
• Airbus won an order worth more than 2 billion euros A330 to Russia's Aeroflot.
• BP began a test of a new cap on its leaking well.
• GE CEO Immelt sees slow U.S., European crisis exit-report.
• GIP, Morgan Stanley among Brisbane port bidders –report
• Glaxo expects to record a 1.57 billion-pound ($2.4 billion) legal charge in the 2Q.
• Glaxo’s drug Avandia should stay on the market accdg. to federal health experts.
• Honda supplier Atsumitec's Chinese plant workers on strike since July 12.
• JPMorgan's June net income rose from $2.7B last year to $4.8B this year.
• KKR said to raise $800 million for china fund, joins blackstone.
• Marriott 2Q profit climbs 42% on rising business travel demand.
• Meridian Biosciences received approval from the US FDA for its molecular diagnostics.
• Mylan pays $550M cash for Boiniche Pharma.
• Novartis to settle worker gender-discrmination case for $152.5 million.
• Oaktree Capital wins $1.7 bln asset sale by FDIC-FT
• Sanyo signed a $366 million deal to sell its chip unit to ON Semiconductor.
• Smart Technologies raised $660 million in the second-biggest IPO this year.
• Vivus' weight-loss pill faces FDA test.
• Volkswagen to build new plant in China.
• Yamaha said sales in North America and Europe may fall twice as much as forecast.

Economic Calendar: Data on Initial & Continuing Claims, PPI, Capacity Utilization to be released.

Earnings Calendar: AMD, ANGO, CARV, CBSH, CBST, DYII, EMMS, FCS, GOOG, JOEZ, LBAI, LION, NXY, PPG, SCHW, WWW.

RECENT RATING ACTIONS
TORCHMARK CORP (TMK)
AFLAC INC (AFL)
NORTHROP GRUMMAN CORP (NOC)
PRINCIPAL FINANCIAL (PFG)
TYCO INTERNATIONAL LTD (TYC)
AAR CORP (AIR)
YUM! BRANDS INC (YUM)
INTEL CORP (INTC)
L-3 COMMUNICATIONS HOLDINGS (LLL)
CAMPBELL SOUP CO (CPB)
XCEL ENERGY INC (XEL)
AFFILIATED MANAGERS (AMG)

Data provided by Egan-Jones Ratings and Analytics

Comments

[dpr10]

I read this news on bloomberg earlier today..I did not quite get the rational for the exuberance expected by these guys...so there was no back to school sales last year::))and July-Sep 2009 was not a bad patch in terms of the US economy..things were starting to turn around...

[mephisto]

OK so

• Bearish: Asia stocks, commodities decline as China growth slows, Fed cuts outlook.
• WTF?: Back-to-school spending may rise as much as 16% in US - Natl Retail Federation.
• Bearish: BOJ says Japan's growth will slow next year, keeps benchmark rate at 0.1%.
• Bearish: China’s stocks dropped, after GDP growth eases to 11.1% in first half from year earlier.
• Bearish: China’s June crude-oil processing rose at the most gradual pace in eight months.
• WTF? Only 4?: FDIC accuses 4 former executives of failed IndyMac of negligence in making loans.
• Bearish: IMF sees Irish deflation through 2011; predicts a 1.8% fall in prices in 2010, a 0.5% fall next.
• Bearish: Industrial production in the US fell in June for the first time in a year: Bloomberg Survey.
• Bearish: More than 1M American households likely to lose their homes to foreclosure this year: RealtyTrac.
• Done >5%, bearish: Spain to sell 15-year bonds in debt auction as deficit pressures increase.
• Flat, 1 winner 1 loser: Airbus won an order worth more than 2 billion euros A330 to Russia's Aeroflot.
• Flat: BP began a test of a new cap on its leaking well.
• Bearish: GE CEO Immelt sees slow U.S., European crisis exit-report.
• WTF? GIP, Morgan Stanley among Brisbane port bidders –report
• Bearish: Glaxo expects to record a 1.57 billion-pound ($2.4 billion) legal charge in the 2Q.
• Bullish: Glaxo’s drug Avandia should stay on the market accdg. to federal health experts.
• Bearish: Honda supplier Atsumitec's Chinese plant workers on strike since July 12.
• Bullish/Bullshit: JPMorgan's June net income rose from $2.7B last year to $4.8B this year.
• Bearish, only 800M: KKR said to raise $800 million for china fund, joins blackstone.
• Bearish(guides lower): Marriott 2Q profit climbs 42% on rising business travel demand.
• Bullish: Meridian Biosciences received approval from the US FDA for its molecular diagnostics.
• Flat: Mylan pays $550M cash for Boiniche Pharma.
• Flat: Novartis to settle worker gender-discrmination case for $152.5 million.
• Flat: Oaktree Capital wins $1.7 bln asset sale by FDIC-FT
• Flat: Sanyo signed a $366 million deal to sell its chip unit to ON Semiconductor.
• Bullish: Smart Technologies raised $660 million in the second-biggest IPO this year.
• WTF?: Vivus' weight-loss pill faces FDA test.
• Flat: Volkswagen to build new plant in China.
• Bearish: Yamaha said sales in North America and Europe may fall twice as much as forecast.

So you can buy JP if you believe them, and a couple of decent tech/pharma stories around. The rest is uniformly dire.

[Grand Supercycle]

As warned about for some time... EURUSD daily chart is bullish.

http://stockmarket618.wordpress.com/about

[DosZap]

 Tad OT, As expected........More Bamanomic paybacks bitchezz.

http://www.washingtontimes.com/news/2010/jul/14/finance-bill-favors-interests-of-unions-activists/

[DosZap]

"FDIC accuses 4 former executives of failed IndyMac of negligence in making loans."

Yeah, and they made 29 more loans to Congress folks, other than Dodd..................(more to come).

[spbrat]

my maths question was one plus one equals - are they calling me stupid?

[herry]

Really this is a great post from an expert and thank you very much for sharing this valuable information with us................ windows vps | cheap vps | cheap hosting | forex vps