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IBM Stock Disappointed That Company Isn't Firing A Mindboggling 110,000

Over the weekend, in a repeat of rumors that were widespread last year, Forbes 'reported' about Project Chrome, a massive corporate reorganization for IBM that would see Big Blue cull over a quarter of its staff – in real terms that means over 110,000 employees, as early as next week. IBM stocks surged higher on this 'great' news... and then, disappointment started as "the largest corporate restructuring in history" was denied by the company...



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Is Mattel CEO "Resignation" A Sign Of Things To Come For Retail Execs?

In the three years since Bryan Stockton took over as CEO of Mattel, the company's revenues have tumbled and debt load has soared over 30% as - despite share buyback bonanzas, the stock price has greatly rotated to unchanged since Jan 2012 when he took over. However, what is most important about today's "resignation" is it accompanied dramatic guide down on earnings as, among other things, Barbie doll sales collapsed 21% in Q3. So the question now is, will every retail 'miss' be accompanied by a CEO 'execution' or is this widespread weakness - despite the unambiguously good low oil price tax cut - merely transitory and Q1 will be awesome...?



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2 Foot "Quad-Copter" Crashed On White House Grounds

Over the past few days someone figured out that while there is an extensive barrier surrounding the White House, it only stretches about 8 feet above the ground. Everything above that is open air, or, as it is better known in this day and age of pervasive drone overflights: "a direct path."



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"Unambiguously Good"? Dallas Fed Collapses To 20-Month Lows As Orders Plunge

Who could have seen this coming? Well apparently all but one economist (TD Securties Greene and Mulraine had a -5.0 est) as the -4.4 print is almost a 4 standard deviation miss from extrapolator's and hockey-stickers' dreams. Following December's drop and miss, the Dallas Fed Manufacturing index is now at its lowest since May 2013. All components dropped, apart from inventories as 11% of firms reported layoffs and wage pressures eased.



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Is 4th Time The Charm For Today's Slam-Silver-Surge-Stocks Algo?

Silver just got monkey-hammered below $18 - on no news catalyst - as for the 4th time today, it appears the triangle of doom between precious metals, USDJPY, and US equities is initiated to ensure Greek fears do not harm wealth creation... Today's weapon of choice in the levitation is "most shorted" stocks - which have been squeezed up over 1% since the open, dragging the indices higher with them...



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"Leverage Mismatches" - Why Q-ECB May Not Be A Favorable Development

It’s not entirely clear what will happen in the near term, but the financial markets are already pushed to extremes by central-bank induced speculation. With speculators massively short the now steeply-depressed euro and yen, with equity margin debt still near record levels in a market valued at more than double its pre-bubble norms on historically reliable measures, and with several major European banks running at gross leverage ratios comparable to those of Bear Stearns and Lehman before the 2008 crisis, we're seeing an abundance of what we call "leveraged mismatches" - a preponderance one-way bets, using borrowed money, that permeates the entire financial system. With market internals and credit spreads behaving badly, while Treasury yields, oil and industrial commodity prices slide in a manner consistent with abrupt weakening in global economic activity, we can hardly bear to watch...



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Greece's New Leader Sends Germany A Loud Message With His First Act

In his first act as PM, Tsipras visits Kaisariani rifle range where Nazis executed 200 Greeks on 1 May 1944...



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The Swiss Franc Is Getting Crushed

The early bid for Swiss Francs following the Greek election results has turned into a bloodbath of outflows as EURCHF has swung a huge 230 pips overnight with Swissy now at its weakest to the Euro since before QECB leaks last Wednesday... One wonders if the SNB is back in the game?



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Tracking Juno: New York Prepares For One Of Top-5 Snow Storms In History; 50% Of Flights Cancelled

As reported first yesterday, the North East in general, and NYC in particular, are about to be hit with a "historic" blizzard that may bring over 24 inches inches of snow in various places: a total accumulation which would make the "Blizzard of 2015" one of the top 5 worst snowstorms in the history of the city, and it the total snowfall rises over 27 inches, it would be the worst snowstorm in NYC history.



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Smart Casual: The 'Rebellious' New Greek PM's Swearing-In Attire

If the shockingly large victory of left-wing Syriza was not enough for the Brussels' bureaucrats, the party's rebellious leader Alexis Tsipras dared to go tie-less during this morning's swearing-in as Greece's new Prime Minister... As we noted earlier, 'non-conformity is part of the package'



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Stocks Fill Overnight Gap But Crude & Carry Support Stalled

Surprise! The weakness overnight in US equity futures has been eradicated in its best USDJPY-driven fashion. S&P, Dow, and Nasdaq futures have all managed to float higher on a sea of Crude and JPY carry exuberance to fill the overnight gap perfectly... except now that they have, USDJPY and Crude have turned down... We suspect the word "contained" will win CNBC-Bingo today...



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Syriza Forms Coalition Government With Anti-Bailout Independent Greeks: What Happens Next

There was some excitement in the capital markets overnight, when what was initially seen as an outright victory for Syriza, giving it an absolute, 151-seat majority in parliament - a fear that briefly pushed the EURUSD under 1.11 when the Euro PPT stepped in - ended up being a placing just shy of a majority with 149 seats. However, that same excitement fizzled several hours ago when the "radical left" party agreed to form a government with the "rightwing" group of the Independent Greeks in the aftermath of Syriza's historic win which harnessed the public backlash against years of belt-tightening, job losses and hardship.



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The Federal Reserve Has Declared The Winner In The Generational Financial War

The policy of safeguarding Boomer benefits with asset bubbles will lead to the destruction of the unprepared, the unwary and those who foolishly trusted our "leadership" and central bank to tell them the truth.



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Greek Bonds Battered As Dip-Buyers Rescue Greek Stocks

The post-QECB euphoria in Greek asset markets was prognosticated by those who prefer to do such things as indicative that "the markets know something," positive about Sunday's (yesterday's) election... because markets are efficient and always 'price in' events (just like 1987, 2000, 2008 etc...). However, this morning ugliness in both Greek stock (especially banks) and bond markets suggests it was nothing more than algo-driven carry-inspired short-squeezes as both stocks and bonds plunged at the open. Stocks received the ubiquitous - well it's down so we better buy 'em treatment - but even that is fading as stocks catch back down to bonds' weakness, having unwound most of QECB's goodness...



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