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Frontrunning: April 20
- Obama Fights Back Against S&P Move (FT)
- China Speeds Yuan Push (WSJ)
- BOE Voted 6-3 to Hold Rate as Majority Noted ‘Downside.’ (Bloomberg)
- Apple to ship new iPhone in September (Reuters)
- Singapore Aims To Be Renminbi Hub (FT)
- GM Defying China Slowdown May Reclaim Sales Lead from Toyota (Bloomberg)... or not
- Cameron Dismisses Idea of Brown at IMF (FT)
- Banks Lag S&P as Slower Loan Growth Outweighs Higher Dividends (Bloomberg)
- Syria Government Approves Lifting State of Emergency (Reuters)
- USA: That ratings agency downgrade meeting (BBC)
- Glencore Gives Investors Perfect Chance to Pass (Bloomberg)
- US: When timing is all (FT)
- Justice Department Seeks Data in Nasdaq-NYSE Antitrust Review (Bloomberg)
- Portugal Proceeds on Bailout (WSJ)
- Faltering in a Stormy Sea of Debt (FT)
- Greece Forced to Pay Sky-High Rates to Borrow (Telegraph)
Economic Highlights from Egan Jones:
- Asian stocks, Won gain on earnings, economic data; Copper, Wheat advance.
- Gold broke through the key psychological barrier of $1,500, to set a fresh nominal high.
- Housing Starts in US increased to 549,000 in March, exceeding forecasts.
- Japan’s exports fall more-than-estimated 2.2% after Quake damages plants.
- Abbott Lab's March net income declines from $1.0B to $864M.
- AES Corp. to acquire DPL Inc. in a transaction valued at $4.7B on an entrp value basis.
- BHP Billiton quarterly iron ore production up 7%.
- BofA said to plan spinoff of $5B private-equity unit.
- Core Labs beats by $0.02, beats on revs; guides Q2 EPS, revs in-line.
- Cree Inc. sees Q4 EPS of not exceeding $0.31 vs. cons est. for $0.35.
- Crown Hldgs beats by $0.06, reports Q1 EPS of $0.48. Revs rose 5.9% to $1.88B.
- CSX Corp. reported Q1 profit of $395M, up 29.5%. Revs rose 13% to $2.8B.
- Fiat’s first-quarter profit increases 9.1% on Ferrari sales and Brazil demand
- IBM posts Q1 operating profit of $2.41 a share vs. cons forecast of $2.30 a share. Raises FY11 EPS above consensus.
- Intel f'casts Q2 sales to exceed est. on higher demand for processors.
- J&J's Q1 net fell 23% from a year earlier, when results were helped by a litigation gain. Boosts full-year earnings forecast, citing currency trends.
- Juniper Networks reports EPS, revs in-line; guides Q2 EPS below consensus, revs in-line.
- MGIC's March loss narrows from $150M to $33M.
- Nasdaq OMX offers to pay NYSE Euronext $350M fee should merger fail.
- Nokia net may Fall 49% as pressure grows on Elop’s handset goal
- NRG Energy said it will drop its plans to build two nuclear reactors in Texas.
- ProSiebenSat.1 Media to sell its TV and print ops in Netherlands, Belgium for €1.23B.
- Stryker reports EPS, revs in-line. Posts Q1 EPS of $0.90. Revs rose 12.0% to $2.02B.
- United Rentals misses by $0.20, posts Q1 loss of $0.32/sh. Revs rose 11.3% to $532M.
- Vodafone may consider IPO of Indian JV after 2011, Colao says.
- Wynn Macau jumps to record as quarterly profit grows 66% on second casino.
- Yahoo! beats by $0.01, reports Q1 EPS of $0.17. Revs fell 5.8% to $1.06B.
Economic Calendar: Data on MBA Mortgage Purchase Index, Existing Home Sales & Crude Inventories to be released today.
Earnings Calendar: AAI, AAPL, ABT, ACU, ALV, AMGN, AMR, APH, AXP, BJRI, BSX, EMC, ETFC, GILD, HBI, MAR, MI, MO, QCOM, STJ, T, WFC, Y, YUM.
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Please Trust me...
Spain is in default
I believe you - are they going to paper over this problem or just make it a nice riot filled summer ?
that is true I guess.
Damn you guys noticing some storms coming over your place.
I just Had a look at the FFT guys. And they are predicting a big set of tornados to come.
http://www.forecastfortomorrow.com/news/2011/04/tornado-season-look-out/
They have been VERY SPOT ON in the past...and say : "Expect it to be very bad over the next couple of days in the US mid-west, south and maybe even up toward the Canadian borders. At least one F-5 will come out of this, maybe more than one"
Stay safe people. MIght get rough.
called this rally last night based on strong april returns: http://www.hedgefundlive.com/blog/its-april-time-for-the-market-to-rally
Russell 2000 to the moon!
To the moon and back:) like the song
yuan still at 6.52...WHAT push? Down from a whole 6.8 over the last year
Great news ... the USD still buys many Zimbabwe dollars:
1.00 USD = 361.900 ZWD
Will the USD reach parity with ZWD?
The question is rather; when?
What happened to that guy Nic Lenoir???
ES futures are once again flirting with the highs again.
I was thinking that this morning over tea - remembering his aussie short calls as the AUD just hit 1.0685 this morning.
Well, all the ES bears are dead now.
Paradoxically, they underestimated the gravity of the crisis, and the corruption of the FED... they didn't understand that the Ben Bernank was stimulating the economy through stocks insead of bank lending...
The worst is Prechter, this guy is becoming more hysterical every day on his website as he has been short for 11 months now. Most of his "followers" are broke and living in the Vegas sewers.
i wouldn't be too suprised if the S&P doesn't get hammered some how for tattling on/downgrading the US debt instruments.
Can I ask, what does everyone think the impact of the Fed April 26/27 meeting will be? Will they announce no QE3, but will have to eventually do it down the road? Also does the Japanese earthquake have any impact on Q2 numbers that come out in July? Does this all set up for a potential shaky situation over the summer?
Today in history: Jacque De Molay was appointed the final Grand Master of the Templar Knights. Carry on.
Funny stuff - The Teleprompter in public is saying the S&P "downgrade" means absolutely nothing while it's being reported that he and his peeps were lobbying furiously, almost to the point of begging, for them to keep the outlook as "stable".
Yeah, that sounds like The Teleprompter.
Beware, Apple lovers...
"iPhone keeps record of everywhere you go"
http://www.guardian.co.uk/technology/2011/apr/20/iphone-tracking-prompts...