Frontrunning: May 2

Tyler Durden's picture
  • Bin Laden is Dead, Obama Says (NYT)
  • Bin Laden Killing Brings Anger, Relief in Arab World (Reuters)
  • Senate ‘Gang’ Hashes Out Deficit Plan (WSJ)
  • Canada Vote Sees Interesting Turn (WSJ)
  • ECB Changes May Spell Faster Tightening as Draghi Eyes Top Job (Bloomberg)
  • Japan Passes Emergency Budget (WSJ)
  • Tripoli Embassies Attacked After Air Strike (FT)
  • Europe Manufacturing Growth Accelerates More Than Estimated (Bloomberg)
  • Syria Arrests Hundreds, Shells Deraa Into Submission (Reuters)
  • South Korean Inflation Slows (WSJ)

Daily Highlights courtesy of Egan-Jones

  • China’s April PMI eases to 52.9 from March's 53.4 level.
  • Commodities beat financial assets for fifth month in best streak since ’97.
  • Obama says $4B in tax breaks for oil companies should be scrapped.
  • Oil falls below $113 amid light Asian trading after bin Laden killed in Pakistan.
  • Osama Bin Laden killed in US operation, Obama says.
  • Silver plunges more than 10% in early Asia trade.
  • UK home prices stop falling for first time in 10 months on demand pickup.
  • Arch Coal to purchase International Coal.
  • Buffett says Berkshire to retain Goldman Sachs warrants in wager on bank.
  • Caterpillar beats by $0.53, beats on revs; raises FY11 EPS (midpoint) above cons.
  • Chevron beats by $0.09, posts Q1 EPS of $3.09. Revs rose 25.0% to $58.41B.
  • Chrysler turns first profit to net income of $116M since its bankruptcy thanks to growing sales.
  • Commerzbank's Q1 earnings up to about $1.48B while bad loans decline.
  • Danisco board unanimously backed takeover offer for the company by DuPont.
  • Goodyear Tire swung to a first-quarter profit on a 27% rise in revenue.
  • Lifepoint Hospitals beats by $0.08, Q1 EPS at $0.89. Revs rose 13.0% to $888.6M.
  • Leow's March net income declines from $420M to $382M.
  • Marshall & Ilsley Corp. reported Q1 loss of $0.27/sh, missing cons view for $(0.17)/sh.
  • Merck reports Q1 EPS of $0.92 (cons $0.84); revs rose 1.4% to $11.5B.
  • Nortel's European units are pressing more than $10B worth of claims against their parent.
  • NV Energy reports EPS in-line, misses on revs as revs fell 10.3% to $641M.
  • Pilgrim's Pride misses by $0.34, beats on revs. Revs rose 15.2% to $1.89B.
  • Terex bids $1.3B for Demag Cranes.
  • Teva to purchase Cephalon. For $6.8B
  • WPX Energy plans to sell up to an est $750M of common stock in an IPO.