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Frontrunning: July 11

Tyler Durden's picture





 
  • Merkel's Migraine: The Man Who Wants Greece to Give Up the Euro (Spiegel)
  • Up to 15 years needed to fix Greece: German president (Reuters)
  • Taxes still a stumbling block in debt talks (Reuters)
  • EU stance shifts on Greece default (FT, first in the WSJ)
  • EU calls emergency meeting as crisis stalks Italy (Reuters)
  • China Boosts Lead in Global Exports (WSJ)
  • Italy's Market Regulator Imposes Measures To Curb Speculation (WSJ)
  • NOTW reporters tried to access 9/11 phone data (Reuters)
  • Trichet says debt is global, not European problem (Reuters)
  • Obama Leans on G.O.P. for a Deal on Debt Ceiling (NYT)
  • US threatens to withhold military aid to Pakistan (FT)
  • Israel and Lebanon dispute maritime border (FT)
  • Panetta Pushes Iraq on Attacks (WSJ)

European economic highlights:

  • France Industrial Production (MoM) for May 2.0% mom higher than expected Consensus 0.5% mom Previous -0.5% mom (Revised from -0.3% mom)
  • France Industrial Production (YoY) for May 2.6% yoy higher than expected Consensus 0.5% yoy Previous 2.6% yoy
  • France Manufacturing Production (MoM) for May 1.5% mom higher than expectedConsensus 0.3% mom Previous 0.1% mom (Revised from 0.2% mom)
  • France Manufacturing Production (YoY) for May 5.4% yoy higher than expectedConsensus 3.4% yoy Previous 4.2% yoy (Revised from 4.1% yoy)
  • Norway CPI (MoM) for June -0.4% mom lower than expectedConsensus 0.0% mom Previous -0.2% mom
  • Norway CPI (YoY) for June 1.3% yoy lower than expectedConsensus 1.7% yoy Previous 1.6% yoy
  • Norway CPI Underlying (MoM) for June -0.2% mom lower than expectedConsensus 0.2% yoy Previous -0.2%
  • Norway CPI Underlying (YoY) for June 0.7% yoy lower than expectedConsensus 1.0% yoy Previous 1.0% yoy
  • Norway Producer Prices incl.Oil (MoM) for June -0.9% momPrevious 2.1% mom
  • Norway Producer Prices incl.Oil (YoY) for June 14.4% yoyPrevious 18.0%

Global headlines courtesy of Egan-Jones

  • Asian stocks fall, Euro drops, Australian bond risk jumps on Europe crisis.
  • China June trade surplus widens to $22.27B on declining global commodity prices.
  • China’s consumer prices accelerated to a-3 -yr high in June to 6.4%.
  • China’s local government debt auction fails as cash squeeze limits demand.
  • Fed rates on hold longest since 1940s as treasury curve sees slower growth.
  • IMF approves €3B loan for Greece.
  • Oil falls below $95 after weak US jobs report.
  • BSkyB shares slide on growing doubts over News Corp. bid as UK government seeks fresh advice.
  • Elpida Memory Inc. plans to raise Y80B ($992M) by issuing new shares, convertibles.
  • Greenbrier Comp misses by $0.11, posts Q3 EPS of $0.10. Revs rose 53.1% to $317M.
  • Juniper Networks recommends rejection of below-market mini-tender offer by TRC Capital.
  • Kencana, SapuraCrest plan $4B merger.
  • LinkedIn had 33.9M unique visitors, surpassing MySpace while trailing behind Facebook.
  • LivingSocial plans IPO to raise about $1B.
  • Lonza Group AG to Arch Chemicals Inc for $47.2/sh in cash (~$1.4B).
  • Macarthur Coal gets A$15.50-shr proposal from Peabody, ArcelorMittal.
  • Macarthur, BlueScope, Virgin Blue shares drop on Australia carbon tax plan.
  • Merrimack Pharmaceuticals plans to sell up to $172.5M of common stock in an IPO.
  • Nestle to buy 60% stake in Chinese snack maker Hsu Fu Chi for $1.7B.
  • Newport to acquire Ophir Optronics for $8.43 per share (approx $230M).
  • Northumbrian Water gets £2.41B buy out offer from Cheung Kong Infra.
  • Precision Castparts to acquire aerospace component supplier Primus Intl for $900M cash.
  • Renault 1st-half global vehicle sales rise 1.9%, to 1.37M units.
  • Samsonite raises recent Hong Kong IPO size to nearly $1.3B by selling extra shares.
  • Sanofi SA to sell its Dermik dermatology arm to Valeant Pharma for $425M cash.
  • Sinochem, Monsanto in talks "to deepen their ties significantly".

Earnings Calendar: AA, CAW, CIZN, HCSG, LBAI, MASC, NVLS, RBCAA, SUBK, VOXX.

 


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Mon, 07/11/2011 - 08:10 | Link to Comment Yen Cross
Yen Cross's picture

 Alcoa, Alcoa, Alcoa?  (Spicoli)?

Tue, 07/12/2011 - 21:45 | Link to Comment MGHJFHD
MGHJFHD's picture

.From all the blogs I’ve read lately, this one seems to be the most impressive - it gave me something to think about.

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Mon, 07/11/2011 - 08:12 | Link to Comment Yen Cross
Yen Cross's picture

 q-2 earnings? Guidance? The cnbs-ers steal from  smart posters @ Z/H

Mon, 07/11/2011 - 08:48 | Link to Comment Mercury
Mercury's picture

What's the over/under on the excess viewership of Tiger's press conference vs. Obama's today?

Mon, 07/11/2011 - 09:45 | Link to Comment Inspector Bird
Inspector Bird's picture

http://finance.yahoo.com/blogs/breakout/economic-rebound-not-happening-2...

 

I clearly remember Achuthan, one year ago, saying "a double dip is not in the cards".  Ahem.  I guess those cards were misdealt....

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