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Frontrunning: May 4
- PBOC Reiterates Inflation Control Is Its Top Priority (Shanghai Daily)
- Portugal Reaches Deal on €78bn Bail-Out (FT)
- China Allows Firms to Sell Bonds via Private Placement (WSJ)
- Demand for Bank Loans Mounts in Emerging World, Survey Says (WSJ)
- China 2011 Growth Seen Solid, Inflation to Quicken: Reuters Poll (Reuters)
- Yemen-based Jihadist Has Potential to Fill Role (FT)
- Netflix Said to Seek TV, Film Rights for Latin America Service (Bloomberg)
- Palestinian Factions Prepare to Sign Deal (FT)
- Outcry Over Syria Rises Amid Wider Crackdown (FT)
- Waiting for Dollars in Belarus Puts Lukashenko on Unrest Alert (Bloomberg)
- U.K. Regulator Expands Its Reach (WSJ)
- Automakers Reduce U.S. Incentives in April to Five-Year Low (Bloomberg)
- Foreign Banks Get Scrutiny in Britain (WSJ)
- Banks Anxious Over Fed Regulations (FT)
- Raid Gives Obama Poll Boost (FT)
Daily highlights courtesy of Egan Jones:
- Portugal reaches deal on €78B bail-out; EU and IMF in 3-yr package.
- Asian stocks decline as raw material producers, Australian banks retreat.
- AB InBev volume misses estimates as U.S. consumption drops
- Archer Daniels Midland Q3 profit up 37% at $578M as revs rose 33% to $20.08B.
- Barclays may sell University Partnerships programme stake, may raise upto $1.7B.
- BMW's March operating margin rose from 2.7% last year to 11.9% this year.
- BNP Paribas' Q1 net rises 15% to €2.62B on lower costs. Revs rose 1.3% to €11.69B.
- BP to pay $25M for 2006 spill in Alaska.
- Charter Communications sells $1.5B of 10-year bonds to repay debt.
- Clorox falls after cutting 2011 forecast; 2012 targets trail projections
- Comcast Q1 net rises 9% as cable subscriber defections slow. Revs up 32% at $12.1B.
- Deutsche Bank faces $1B claim from US in mortgage-fraud lawsuit.
- FEI Co. f'casts Q2 EPS of at least $0.55 vs. cons est was for $0.47.
- Great Plains Engy misses by a cent, posts Q1 EPS of $0.01. Revs fell 2.8% to $492.9M.
- Las Vegas Sands reported Q1 EPS of 37 cents a share vs. cons est. of $0.44/sh.
- Level 3 Comm's Q1 loss narrows to $205M on revenue gains of 2%, and lower exps.
- MasterCard Q1 net rises 23.5% to $562M as revs rose 15% to $1.50B.
- McKesson beats by $0.06, beats on revs; guides FY12 EPS in-line.
- Morgans Hotel Group sells Mondrian Los Angeles for $137M.
- ONEX to sell Husky International for $2.1B to Berkshire Partners, Omers Private Equity.
- PepsiCo sells $1.75B of notes with yields at lowest in five months.
- Pfizer Q1 net up 10% at $2.22B on lower costs, taxes that offset flat revenue. Expects to repurchase $5-7B worth of shares this year.
- Sears Roebuck default swaps soar after sales drop shows 'dire prospects'.
- Senate report accusing Goldman of deception referred to US Justice, SEC.
- Siemens' Q1 net jumps to €2.79B helped by €1.52B in gains from Areva stake sale.
- Stone Energy beats by $0.18, beats on revs. Q1 EPS at $0.81. Revs up 19.9% at $197.9M.
- Swisscom posts 19% jump in quarterly profit on year-earlier FastWeb costs
- Time Warner's March net income declines $725M to $653M.
- Westpac first-half profit rises 7% as bad debts decline, lending increases.
Economic Calendar: Data on MBA Mortgage Index, ISM Srvcs, Crude Inventories to be released.
Earnings Calendar: ACE, AGN, ANDE, AOL, ASCA, ATML, BEBE, CNW, CSC, DVN, DYN, ERTS, GAS, K, KKR, MET, MMC, MUR, NWSA, PCG, SRE, TWX, UDRL.
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Dollar at 72.76...
obama and the poll numbers
good article here
http://www.nytimes.com/2011/05/05/us/politics/05poll.html
says a great deal about the current situation in America
Wishful thinking, the avg american now has the attention span of a slug and has been trained to ignore everything except their new electronic bauble or pop star, and the avg american dumbass also needs a new episode at least every 7 days so the thought Obama will ride the crest of the Osama fake story wave for 18 months is fantasy.
Buy Netflix now, Latin American opportunities will drive their PE below zero - from over 100 right now.
I nominate inflation as the real 'Crouching Tiger Hidden Dragon' for China.
It looks like a nasty problem from the outside, but in reality it is a fucking really really nasty problem. They are going to do too little too late.
All this good news coming out today, I'm amazed futures are not up 2% in premarket.
Correction: PBOC Reiterates Illusion of Inflation Control Is Its Top Priority
how does raising interest rates on a currency that isn't floating control prices? "they're heading for the physical."
Sears Roebuck default swaps soar after sales drop shows 'dire prospects'...
Do not give those bastards your e-mail ever or they will spam you from 32 different addresses. Their online service got hacked so security sucks too. I hope SHLD and C both go down the crapper.
Yea I took their app for a credit card at checkout 5 years ago just to get the 10% off at the time....Im still getting mail from them weekly.
Wow what a unicorn dew-like dump of rainbow-ish news and data this morning...too bad they didnt include the dollar languishing in the cellar at 72.7. I guess thats not good news worthy.
BTW Washington Times running 'Fake Obama Birth Certificate' story, and all the radio shows are jammed with ex CIA agents calling BS on the dead Laden story as well.
YouTube - Washington Times: New Obama Certificate A Fraud!
May the Fourth be with us
Confirmed: The stupidest people live in Florida.
Two deaf men stabbed in Hallandale Beach bar after sign language mistaken for gang signshttp://www.palmbeachpost.com/news/crime/two-deaf-men-stabbed-in-hallanda...