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Frontrunning: April 28

Tyler Durden's picture




 
  • 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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Thu, 04/28/2011 - 08:31 | 1215264 Careless Whisper
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Wal-Mart to start selling guns and ammo again.Half its stores to carry.

http://online.wsj.com/article/SB1000142405274870336700457628923048892080...

 

 

Thu, 04/28/2011 - 08:43 | 1215312 Urban Redneck
Urban Redneck's picture

They never stopped in my neck of the woods

Thu, 04/28/2011 - 08:50 | 1215343 SheepDog-One
SheepDog-One's picture

Guns and ammo is probably a large chunk of Walmarts sales.

Thu, 04/28/2011 - 08:30 | 1215270 Careless Whisper
Careless Whisper's picture

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...

 

Thu, 04/28/2011 - 08:36 | 1215284 Careless Whisper
Careless Whisper's picture

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...

 

Thu, 04/28/2011 - 10:55 | 1215879 velobabe
velobabe's picture

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.

Thu, 04/28/2011 - 08:42 | 1215309 Josh Randall
Josh Randall's picture

"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

Thu, 04/28/2011 - 08:42 | 1215320 AN0NYM0US
AN0NYM0US's picture
Moody’s cuts New Jersey’s credit rating

certainly not a political move by Warren's favorite ratings agency

Thu, 04/28/2011 - 09:10 | 1215435 Careless Whisper
Careless Whisper's picture

It didn't help that Rutgers paid Snooki $32,000 to give a speech.

Thu, 04/28/2011 - 09:27 | 1215506 kaiserhoff
kaiserhoff's picture

Snooki can read and write?  Who knew?

Thu, 04/28/2011 - 08:47 | 1215340 Comrade Blink
Comrade Blink's picture

"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!

Thu, 04/28/2011 - 08:51 | 1215347 SheepDog-One
SheepDog-One's picture

Man, what a damn mess.

Thu, 04/28/2011 - 08:53 | 1215353 Careless Whisper
Careless Whisper's picture

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...

 

 

Thu, 04/28/2011 - 09:04 | 1215415 Careless Whisper
Careless Whisper's picture
Rocky Hill police officer found dead of apparent gunshot wound

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#ixzz1Kp3bH4Sb
Thu, 04/28/2011 - 09:19 | 1215470 Dejean Splicer
Dejean Splicer's picture

The Syrian Time Bomb.

http://mycatbirdseat.com/2011/04/the-syrian-time-bomb/

MCBS. Don't leave home without it.

Thu, 04/28/2011 - 09:32 | 1215514 kaiserhoff
kaiserhoff's picture

All things Japan Inc. are going off line and off the tracks for a couple of years, at least.  Invest accordingly.

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