Frontrunning: February 1

Tyler Durden's picture
  • Bernanke Misses Baseball in Battle for Euro Debt With Fed LISCC (Bloomberg)
  • Egyptian army rules out force against protesters (FT)
  • Federal Judge Rules That Health Law Violates Constitution (NYT)
  • EU Said to Near Agreement on Bailout Fund Buying New Bonds (Bloomberg)
  • Even a caveman could have fixed the system (NY Post)
  • Whitney Municipal-Bond Apocalypse Is Short on Default Specifics (Bloomberg)
  • U.S. Ambassador to China Plans Exit (WSJ)
  • One in Five Mortgages Default Again After Modification (Bloomberg)
  • Australia evacuates coastal cities in path of cyclone (Reuters)
  • Bank of America Can Proceed With Nevada Foreclosures, Judge Says (Bloomberg)
  • United, Delta Speed Snow Cancellation Decisions to Avoid `Havoc' (Bloomberg)
  • Derivatives Plan for European Watchdog May Exceed EU Power (Bloomberg)
  • BOE Will Raise Benchmark Rate Three Times This Year on Prices, Niesr Says (Bloomberg)
  • The rating agency that just downgraded Egypt, keeps Spain at AA (Bloomberg)

News Highlights:

Asian stocks, Copper gain as growth outlook overcomes concerns over Egypt.
Australian central bank kept its key cash rate on hold at 4.75%.
Brent crude oil futures rose to $100/bbl - first time since Oct. 1, 2008.
Chicago Purchasing Managers Index increased to 68.8 in Jan - at a faster pace than f'cast.
China's manufacturing growth slows as policy makers seek to curb inflation.
ECB halts emergency purchases of bonds; to focus on inflation as yearly rate hits 2.4%.
Fed says US banks are 'significantly more upbeat' on loan delinquencies.
Irish Central Bank cuts 2011 growth forecast on fiscal squeeze.
Obama Healthcare Reform Act unconstitutional - US Judge says.
US 30-year yield near 9-month high on prospects manufacturing is growing.
Anadarko Petro beats by $0.06, posts Q4 EPS of $0.29. Revs rose 11.3% to $2.69B.
BP Plc reported net income of $5.6B in Q4, up 30%. Resumes dividend. To sell two US refineries.
CNL Hotels & Resorts is weighing a bankruptcy-court protection filing.
Deutsche Bank 4Q profit fell about 54% on costs related to the acquisitions.
Eastman Chemical sees Q1 EPS of at least $1.75 vs. cons est. of $1.68.
Exxon said its fourth-quarter earnings surged 53% amid higher oil prices.
Fifth Street Finance to sell 10M shares; proceeds to be used for M&A, debt repayment.
Gannett Inc.'s Q4 net jumps 30% on cost cutting measures and 27% rise in revs.
Hovnanian Entrps to offer $150M of Sr debt; $50M of class A stock & 3M tangible equity units.
India agrees to $12B Posco steel plan; tough conditions imposed on Orissa project.
Infineon lifts 2011 outlook; sees Q2 sales growth, margin 18%-20%.
Intel cut its Q1 f'cast after discovering a design flaw in a recently released support chip.
McKesson f'casts 2011 EPS of $4.82-5.02 vs. cons est. of $4.83.
Novellus reports Q4 EPS of $1.03 (cons $0.94); revs rose 57.4% to $384.4M.
Olin issues downside guidance for Q1, sees EPS of $0.20-$0.25 vs. cons $0.26.
Quest Diagnostics raises 2011 EPS view to $4.25-4.45 (prev $4.10-4.30) following its
Repurchase of 15.4M shares from its largest shareholder, GSK.
Rent-A-Center beats by $0.03, reports revs in-line; guides Q1 revs above consensus.
Sanofi obtains access to Genzyme's books, advancing $18.5B takeover.
UPS's Dec. net income rises from $757M to $1.1B.

Economic Calendar: Data on Construction Spending, ISM Index, Auto Sales to be released.

Earnings Calendar: ADM, AFL, ALV, ARM, BIIB, BP, BRCM, BSX, CE, COCO, ENR, ERTS, IMN, JDAS, JLL, LEA, LXK, MEE, PFE, PNR, TUP, UPS, URI.

Submitted from Egan Jones

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spanish inquisition's picture

The last thing the US needs is a peaceful transition in to a democracy, while we support the dictator. Hillary just had a huge meeting with all ambassadors to get talking points straight. Look for CIA/Mossad agitation to start to discredit the revolution and allow an army crackdown. Looking at a 50/50 on this right now, best time would be during demonstration.

Racer's picture

came in a 60.8 so who knew?

stormsailor's picture

and the /es soars to new highs on what news?

 

everything is fantastic

Ted K's picture

Oh.... Now we know where Bernanke got his POMO ideas---Shoeless Joe Jackson.  When does Bernanke get his permanent partner position at Goldman Sachs, does anyone know??