Daily Highlights: 7.15.10

Tyler Durden's picture
  • 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

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
dpr10's picture

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's picture

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's picture

 

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

http://stockmarket618.wordpress.com/about

DosZap's picture

"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's picture

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

herry's picture

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