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Frontrunning: April 19

Tyler Durden's picture





 
  • Bernanke May Sustain Stimulus to Avoid ‘Cold Turkey’ End to Aid (Bloomberg) -  a plan that will be woefully insufficient as discussed extensively before
  • Asia voices confidence in U.S. debt after S&P jolt (Reuters)
  • Americans Shun Cheapest Homes in 40 Years as Owning Loses Appeal (Bloomberg)
  • Funds accuse banks of Libor manipulation (FT)
  • Deutsche Bank’s $4 Billion Las Vegas Bet (NYT)
  • Obama Embarks on Tour to Sell Debt Plan, Not Dwell on S&P (Bloomberg)
  • Greek bond fears intensify debt debate (FT)
  • With much at stake, Asia voices confidence in US debt after S&P jolt (Reuters)
  • Deutsche Bank Algo Cribs HFT Strategies (Traders Magazine)
  • CFTC Commissioner Chilton hits out at proposals to delay financial reform (FinExtra)
  • Questions Raised on Purchases of Tokyo Electric Power Shares (NYT)
  • Expectations Grow for Greek Debt Restructuring (NYT)
  • ISDA Proposes Registry for Standardized OTC Derivatives (SecTech Monitor)
  • Wealthy Parents Keep Mum on Money for Kids’ Own Good, BofA Says (Bloomberg)

Highlights summary from Egan Jones

  • Asian stocks decline as Won, Kiwi drop after S&P cuts US rating outlook.
  • Bank of Japan said to raise inflation forecast to 0.5% on commodity costs.
  • Gold may top $1,500, extending rally to record, as US credit outlook cut.
  • Greece to sell bills with two-year bond yields exceeding 20%: Euro Credit.
  • Homebuilder confidence fell this month on sales outlook, NAHB Index shows.
  • Oil drops to near $106 in Asia as concerns on US debt outlook grows.
  • AIG said to near $600M sale of rail-car unit to Perella Weinberg Partners LP.
  • AMD's Q1 seen benefiting from flaw in Intel's chips.
  • Badger Meter posted Q1 earnings of 22 cents a share, missing avg estimate of 43 cents.
  • Bank of NY Mellon's March net income rose from $559M last year to $625M this year.
  • Brown & Brown misses by $0.01, posts Q1 EPS of $0.32. Revs rose 3.9% to $262.2M.
  • Citigroup profit falls less than estimated on consumer banking, reserves.
  • Crane ups FY11 EPS view to $3.05-3.25 vs. $2.96 consensus; revs growth to ~10-12%.
  • Eli Lilly's net fell 15% on higher costs associated with a drug partnership and employee layoffs, revs rose 6%.
  • Gannett's earnings fell 23% as declining advertising revenue.
  • GM is raising prices by an average of $123 a vehicle, cites rising materials costs.
  • ICU Medical f'casts 2011 EPS of at least $2.50/sh vs. cons est of $2.35.
  • Johnson & Johnson earnings $3.7B for March 2011 compared to $3.6B last year.
  • KeyCorp swung to Q1 profit as credit quality improved, though revenue declined.
  • LVMH reported a 17% jump in first-quarter sales, beating expectations.
  • Novartis Q1 net off 4.3% at $2.82B, revenue up 16%, to reach $14.03B.
  • Packaging Corp misses by $0.02, lowers Q2 EPS view to $0.35 vs. $0.45 cons.
  • SABMiller PLC sold 3% more beer in Q4 and 2% more in the full year.
  • TD Ameritrade's profit rose 5.6%, as the company posted record trading volume.
  • Texas Instruments sees Q2 EPS, revenue below est. on lower Japanese demand.
  • US govt plans to sell a significant share of its remaining stake in GM this summer.
  • Zions Bancorp swung to a Q1 profit of $14.8M from year-ago's loss of $86.5M.

Economic Calendar: Data on Housing Starts-Mar, Building Permits to be released today.

Earnings Calendar: AAI, AOS, ASRV, BTU, CCK, CMA, CREE, CSX, GS, HOG, HRZ, IBM, INTC, JNJ, JNPR, MDC, RBCAA, STT, STX, URI, USB, WYNN, YHOO.

 


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Tue, 04/19/2011 - 08:39 | Link to Comment Careless Whisper
Careless Whisper's picture

While there are real problems in the world, the nanny control freaks in New York have decided that Tag and Kickball are dangerous for kids. Wanna play? Get a license from the NY Health Department !

http://www.lohud.com/article/20110419/NEWS01/104190331/Dangerous-games-k...

 

 

Tue, 04/19/2011 - 08:47 | Link to Comment Herne the Hunter
Herne the Hunter's picture

Thank god we still have American football...

Tue, 04/19/2011 - 08:49 | Link to Comment SheepDog-One
SheepDog-One's picture

Nope, thats been cancelled as well.

Tue, 04/19/2011 - 08:45 | Link to Comment SheepDog-One
SheepDog-One's picture

Asia has confidence in US....well good for them, I have 0 confidence in the US to get anything right from here on out.

Tue, 04/19/2011 - 09:01 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

At least the Bernank has 100% confidence.

For a moment there I thought we were screwed.

Tue, 04/19/2011 - 08:46 | Link to Comment EscapeKey
EscapeKey's picture

From the front page of BBC News. Quite possibly the worst, most unconvincing lie of 2011.

British military officers will be sent to Libya to advise rebels fighting Colonel Muammar Gaddafi's forces on how to protect civilians, the UK government says.

Tue, 04/19/2011 - 09:04 | Link to Comment Careless Whisper
Careless Whisper's picture

Well, according to this secret memo just released, BP and Shell ordered Tony Blair to invade Iraq on their behalf. Oil contracts. $600 million a year in profits from one oil field.

http://www.independent.co.uk/news/uk/politics/secret-memos-expose-link-b...

 

 

Tue, 04/19/2011 - 09:23 | Link to Comment Josh Randall
Josh Randall's picture

Going to be interesting to see who gets gobbled up by the pitchfork crowd first - Blair or Cheney. With the British population much more well read on average, I am starting to believe it will be Blair.

Tue, 04/19/2011 - 08:50 | Link to Comment belly acres
belly acres's picture

I think we need a "no fly zone" for helicopter ben

Tue, 04/19/2011 - 08:54 | Link to Comment the not so migh...
the not so mighty maximiza's picture

That sounds like QE something to me

Tue, 04/19/2011 - 08:56 | Link to Comment Careless Whisper
Careless Whisper's picture

Court says Chevron/Texaco must pay $9.5 Billion for turning Ecuador in to a toxic wasteland. Chevron appeals verdict and files RICO lawsuit against Ecuadorian citizens.

http://www.miamiherald.com/2011/04/10/2174079/site-visits-at-center-of-c...

 

Tue, 04/19/2011 - 09:24 | Link to Comment MarketTruth
MarketTruth's picture

"Americans Shun Cheapest Homes in 40 Years as Owning Loses Appeal (Bloomberg)"

Why buy a home when the State will tax you to oblivion higher and higher each year. Let someone else take the liability of carrying costs and rent. Due to the very high ratio of homes/apts for rent, it is a 'buyers market' when shopping for lower cost rent.

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