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Frontrunning: April 28
- Most Dealers See Fed Keeping Rates Near Zero (Reuters)
- Japan Economic Data Underscore Impact of Disasters (WSJ)
- China’s Population Flocks to Cities, Grows Older, Census Shows (Bloomberg)
- China Property Slowdown Poses Growth Risks, World Bank Says (Bloomberg)
- Asian Currencies to Appreciate Against Greenback in Second Half, ‘Mr Yen’ Says (Taipei Times)
- Syria's Assad Facing Dissent over Deraa Crackdown (Reuters)
- Spain Calls Draghi ‘Excellent’ Choice for ECB President, Isolating Merkel (Bloomberg)
- German Unemployment Falls Below 3 Million to 19-Year Low (Bloomberg)
- U.S. Failure on S. Korea FTA Would Cede Market, Locke Say (Bloomberg)
- Moody’s Cuts New Jersey’s Credit Rating (FT)
European Economic Developments:
- Germany Import Price Index for March 1.1% m/m 11.3% y/y – in line with expectations.Previous 1.1% m/m 11.9% y/y.
- Germany Unemployment Change for April -37k – in line with expectations.Previous -55K.
- Germany Unemployment Rate (s.a) for April 7.1% - higher than expected.Consensus 7.0% Previous 7.1%.
- France Consumer Spending for March -0.7% m/m 2.6% y/y – lower than expected.Consensus 0.2% m/m 3.7% y/y. Previous 0.9% m/m 5.5% y/y.
- Italy Business Confidence for April 103 – in line with expectation.Consensus 103.5. Previous 103.5.
- Sweden Consumer Confidence for April 17.6 – in line with expectations.Consensus 17.5. Previous 19.0.
- Sweden Manufacturing Confidence s.a. for Q1 7 – lower than expected.Consensus 12. Previous 12.
- Sweden Economic Tendency Survey for April 109.8 – lower than expected.Consensus 112.0. Previous 112.3.
- Sweden PPI for March 0.0% m/m 1.7% y/y – lower than expected.Consensus 0.4% m/m 2.1% y/y. Previous 0.0% m/m 0.3% y/y.
- Sweden Trade Balance (Kronor) for March 9.6B – higher than expected.Consensus 9.0B. Previous 11.0B.
- UK GfK Consumer Confidence Survey -31 – lower than expected.Consensus -27. Previous -28.
Key Highlights:
- Asian stocks rise on Fed’s low-rate pledge.
- Bernanke says ending bond buying unlikely to have major impact.
- Fed says pace of recovery 'moderate'; Bond buying to end in June.
- Japan core consumer prices fall 0.1% in March from year earlier.
- Japan Industrial production fell 15.3% in March from February. Jobless rate unchanged.
- Aetna toacquire Prodigy for $600M.
- Aflac Q1 profit falls 38% to $395M, hit by investment losses. Revs rose 1% to $5.12B.
- Akamai's Q1 profit climbed 24%, as revenue rose by 15% to $276M.
- Allstate Corp. profit more than quadrupled to $519M on lower damage claims.
- BB&T, PNC are said to be interested in bidding for RBC’s US retail bank.
- Boeing's Q1 profit rises 12.9% to $586M on lower tax rates. Revs slip 2% to $14.91B.
- CIT Group Q1 profit down 55%
- Community Health Sys Q1 profit falls 12% to $61.3M on losses related to sold operations.
- Exelon said to be near $7.7B deal for Constellation Energy.
- Express Scripts announces increase in share repurchase authorization by 50M shares.
- Honda Q4 profit down 52%.
- Hynix Semiconductor's Q1 net profit fell 66% as sales declined and prices remained weak.
- Hyundai Motor Q1 profit up 47% on new models.
- Jarden Corp. swung to Q1 profit of $19M as revs jumped 25% to $1.5B.
- Lincoln National posts 20% higher profit at $339.4M as revs rose 7.4% to $2.71B.
- Liz Claiborne's Q1 loss widens to $96.3M as net sales slid 12% to $513.2M.
- Lubrizol's Q1 profit rose 4.4% to $169.5M; revs up 15.2% to $1.52B.
- Norfolk Southern Corp. reported Q1 EPS of $1.00 vs. average analyst est. of $0.90.
- Panasonic Corp. to cut its global work force by 40,000 people, mostly overseas.
- Procter & Gamble's March net income rise frrom $2.58B to $2.87B.
- Sokol violated Berkshire ethics on Lubrizol, Board report finds.
- Sprint's March quarter loss was $439M versus $865M last year.
- Starbucks profit up 20% on climbing sales; raises commodities tab forecast.
- Teradyne Q1 net income 41c vs. 24c; revs up 18.1% at $377.2M.
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Wal-Mart to start selling guns and ammo again.Half its stores to carry.
http://online.wsj.com/article/SB1000142405274870336700457628923048892080...
They never stopped in my neck of the woods
Guns and ammo is probably a large chunk of Walmarts sales.
George Castanza really does work at the NY Yankees. Tries to "recall" email sent containing private info.
http://www.nypost.com/p/news/local/bronx/yanks_big_error_VCsqL8b9RZynjco...
So called "Greenie", Mayor Michael Bloomberg wants to limit bicycles in NYC.
http://www.nypost.com/p/news/local/pedi_peeve_city_to_set_limits_vf6PufZ...
i read about this cap on pedi bike licenses about 2 years ago. no where in the once great country is anything given an incentive to not drive a car. no car insurancer will lower your premium if you hardly drive your car. they would lower your rates if you installed a governor of sorts, in your engine compartment. this country just goes down hill as fast as ben prints crap.
"China’s Population Flocks to Cities, Grows Older, Census Shows" - Really ? hence the doormant Ghost Cities and malls that are emptier than a Scottish pay toilet...nice scoop Bloomberg
certainly not a political move by Warren's favorite ratings agency
It didn't help that Rutgers paid Snooki $32,000 to give a speech.
Snooki can read and write? Who knew?
"Asian Currencies to Appreciate Against Greenback in Second Half, ‘Mr Yen’ Says"
Who will give me 50 cents for this $1 FDR...
Going, going, gone!
Man, what a damn mess.
Republicans in Florida distance themselves from rookie Governor. Vote against anti-union bill.
http://www.miamiherald.com/2011/04/27/2188918/senators-reject-rick-scott...
but... according to Connecticut State Police...
the death does not appear to be suspicious and it is being treated as an untimely death at this time.
http://www.ctpost.com/news/article/Rocky-Hill-police-officer-found-dead-of-apparent-1356324.php#ixzz1Kp3bH4Sbhttp://www.hedgefundlive.com/blog/month-end-trading-already-happened-for-april
The Syrian Time Bomb.
http://mycatbirdseat.com/2011/04/the-syrian-time-bomb/
MCBS. Don't leave home without it.
All things Japan Inc. are going off line and off the tracks for a couple of years, at least. Invest accordingly.