Frontrunning: July 14

Tyler Durden's picture
  • European Leaders Delay Summit Meeting Over Greece (NYT)
  • Tensions Escalate as Stakes Grow in Fiscal Clash (NYT)
  • China Growth Suggests Tightening Ahead (WSJ)
  • Banks, Regulators Still Jostling Over EU Stress Tests (WSJ)
  • Obama and lawmakers face fresh doubts on debt deal (Reuters)
  • Italy money supply plunge flashes red warning signals (Telegraph)
  • ECB: Greek Debt Outcome Depends Mainly On Greek Government (Market News)
  • Helaba pulls out of European stress tests (FT)
  • India Says All ‘Hostile’ Groups Are Suspects After Mumbai Blasts Kill 17 (Bloomberg)
  • Greece PM says second bailout needed urgently (Reuters)
  • Fitch Says Italy Can Cope With Yield Jump, Debt Crisis (Bloomberg)
  • Afghan civilian war deaths hit record level: U.N. report (Reuters)
  • Libya rebels continue push to Tripoli (FT)

Eurpean economic data:

  • ECB Publishes July Monthly Report
  • Euro-Zone CPI - Core (YoY) for June 1.6% yoy higher than expected Consensus 1.5% yoy Previous 1.5% yoy
  • Euro-Zone CPI (MoM) for June 0.0% mom in line with expectationsConsensus 0.0% mom Previous 0.0% mom
  • Euro-Zone CPI (YoY) for June 2.7% yoy in line with expectationsConsensus 2.7% yoy
  • Italy CPI (NIC incl. tobacco) (MoM) for June 0.1% mom in line with expectationsConsensus 0.1% mom Previous 0.1% mom
  • Italy CPI (NIC incl. tobacco) (YoY) for June 2.7% yoy in line with expectationsConsensus 2.7% yoy Previous 2.7% yoy
  • Italy CPI - EU Harmonized (MoM) for June 0.1% mom in line with expectationsConsensus 0.1% mom Previous 0.1% mom
  • Italy CPI - EU Harmonized (YoY) for June 3.0% yoy in line with expectationsConsensus 3.0% yoy Previous 3.0% yoy

Global headlines from Egan-Jones

  • Bank of Korea keeps interest rate unchanged at 3.25%.
  • Bernanke says Fed 'prepared to respond' if additional stimulus is needed.
  • Foreclosures jump 4% in June vs May; but down 29% YoY: RealtyTrac.
  • Italian yields surge to three-year high for Europe’s 2nd-largest debt burden.
  • Oil prices hovered above $98 a barrel in Asia as traders eye possible US stimulus.
  • QE3 talk pushes gold to nominal record; Bullion reaches $1,578.46 a troy ounce.
  • US corporate credit risk declines as Bernanke raises possibility of QE3.
  • US debt rating placed on review for downgrade by Moody’s as talks stall.
  • US government ran a budget deficit of $43B in June: Treasury Department.
  • Worldwide PC shipments grew slower than expected in the second quarter.
  • Allscripts expects its Q2 profit and revenue to surpass Wall Street estimates.
  • Capital One announces pricing of $2B common stock offering at $50.00.
  • Chrysler recalls nearly 250,000 Ram pickups because a bad part in the steering system.
  • ConocoPhillips to split into 2 firms.
  • CSX boosts capital spending $200M to $2.2B for railcars; 12-cent dividend set.
  • Hartford profit falls 68% to $24M on natural disasters, asbestos costs.
  • Investment Technology Grp to post Q2 loss, cites weak trading vols, to cut jobs
  • JP Morgan's June net income rose from $4.8B to $5.4B.
  • Kinetic Concepts agrees to be acquired by Apax-led group for $4.98B.
  • Liberty Global on lookout for acquisitions: CEO.
  • Marriott Intl sais Q3 EPS won’t be higher than $0.29, falling short of the $0.30 cons view.
  • New York Times Co. to repay $250M Slim loan early due to improving cash position.
  • News Corp., BSkyB advisers may lose $90M after offer to buy pulled.
  • Northgate Minerals Corp. to buy Primero Mining Corp. in a share swap worth $383M.
  • PE groups said to vie for Anglo Irish US real estate loans.
  • Saieh, Mexico’s Grupo Bal in talks to buy ING Groep’s LatAm pension business, for $3B.
  • Texas Industries reports narrowed Q4 loss of $9.1M, no recovery in construction.
  • Universal Forest beats by $0.18, posts Q2 EPS of $0.33. Revs fell 14.8% to $544.1M.
  • Walgreen raised its dividend, by 29% to 22.5 cents; sets a new $2B stock buyback plan.
  • Yum! Brands said Q2 profit gained 10% and boosted its earnings forecast for the year.

Economic Calendar: Data on Initial & Continuing Claims, Retail Sales, PPI to be released.

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Careless Whisper's picture

It's a tough job, but someone's got to do it.

Casting call for Fashion Week Swim in South Beach


Careless Whisper's picture

Former partners battle it out in civil court in West Palm Beach. Company was awarded $2.7 Billion (yes billion) to deliver fuel to our troops.

Mohammad Al-Saleh thought he could finally relax after spending months making sure he and his business partners secured yet another $500 million defense contract to deliver fuel to U.S. troops in Iraq.



snowball777's picture

Sargeant needs to be busted down to Private. These sick Pug profiteers are the ones that will really cry if the debt ceiling isn't bumped.

MrBinkeyWhat's picture

WTF! I am going back to bed, after a stiff vodka beverage.

Silver is looking great....

MrBinkeyWhat's picture

OT: About the math questions if you have been logged off...A little calculus perhaps?

Gotta love those accelerations and decelerations.

Side note: I recently took an employment test that did not allow calculators. SOB if I have forgotten how to do long division. Been using an HP-12C since forever. Then switched to Excel, because I did not trust the 12C. Entropy. Enjoy getting old kids. The other option is death.