Frontrunning: July 27

Tyler Durden's picture
  • IMF Chief Raises Idea of Seeking More Cash (WSJ)
  • US Money Market Funds Build Liquidity (FT)
  • Interbank Loan Probe Focuses on Yen Rates (FT)
  • Watchdog Sees Financial Weak Spots (WSJ)
  • China’s 29% Jump in Industrial Profit to Spur Growth by Fueling Investment (Bloomberg)
  • Shanghai to Step Up Probes of Home Prices (Bloomberg)
  • Lessons From the Malaise (NYT)
  • Hurtling toward economic chaos (LA Times)
  • Who Elected the Rating Agencies? (WSJ)
  • Meagre Growth Puts Pressure on Osborne (FT)
  • Boehner Plan Faces Rebellion (WSJ)
  • Congress: Smoke, mirrors & spending cuts (MarketWatch)
  • Inflation Fears Take Their Toll in Brazil (FT)
  • N Korean Nuclear Envoy Arrives in New York (FT)

European economic update:

  • Euro-Zone M3 s.a. 3 mth ave. for June 2.2% - lower than expectedConsensus 2.3%. Previous 2.2%
  • Germany Import Price Index for June -0.6% m/m 6.5% y/y - lower than expectedConsensus -0.2% m/m 7.1% y/y. Previous -0.6% m/m 8.1% y/y
  • Italy Business Confidence for July 98.5 - lower than expected. Consensus 99.7. Previous 100.5
  • Switzerland KOF Swiss Leading Indicator for July 2.04 - lower than expected.Consensus 2.11. Previous 2.23
  • Sweden Household Lending for June 6.7% y/y.Previous 6.9%
  • Sweden Trade Balance (Kronor) for June 8.2B - lower than expected.Consensus 11.0B Previous 6.3B (revised from 5.7B)
  • UK CBI Trends Total Orders for July -10 - lower than expected.Consensus -3. Previous 1
  • UK CBI Trends Selling Prices for July 4 - lower than expected.Consensus 27. Previous 27
  • UK CBI Business Optimism for July -16 - lower than expected.Consensus 10. Previous -9

Global news headlines courtesy of Egan-Jones:

  • Oil hovers above $99 after US crude supply jump.
  • SEC votes 5-0 to track biggest traders’ activity through reporting system.
  • The dollar slumped to $1.4536, against the Swiss franc of $1.6421.
  • Treasuries fall, Gold gains on US debt wrangle; Aussie climbs to record.
  • 3M sees slow economy now, growth picking up later.
  • Aetna's June net income rises from $848M to $908M.
  • Amazon f'casts Q3 sales that may exceed cons est., said Q2, EPS, revs beat projections.
  • Anadarko Petroleum (APC) posted Q2 earnings of $544M.
  • Arrow Electronic's June rises from $116M to $156M.
  • AutoNation's net income for June rises from $47M to $72M.
  • Bemis's June net income declines from $67M to $56M.
  • Boeing's June net income rises from $787M to $941M.
  • Cabot beats by $0.16, reports Q3 EPS of $1.04. Revs rose 17.3% to $883M.
  • Canadian Pacific's net income declines from $167M to $128M.
  • Chrysler posts $370M loss in Q2 due to bailout repayment. Revs rose 30% to $13.7B.
  • Clorox Board rejects Icahn’s revised $10.7B offer as 'inadequate'.
  • Euronet reports EPS in-line, beats on revs; guides Q3 EPS in-line.
  • Fiserv's Q2 profit drops 29% to $90M on loss from debt payoff, merger charges.
  • GE said to retain its rail-car unit, end auction plan as demand increases.
  • HCA raises $5B of debt in biggest junk bond offering in three years.
  • Illumina's Q2 net flat at $30.6M on debt retirement charges. Revs up 36% at $287.5M.
  • Juniper Networks Inc.'s Q2 profit declined 16%.
  • Kodak loses $179M in Q2 on weaker sales of film, digital cameras.
  • Las Vegas Sands swings to Q2 profit of $367.6M as revenue rose almost 50%.
  • Lockheed Martin's Q2 profit falls 10% to $742M amid severance pay issue, pension costs.
  • Manitowoc misses by $0.03, posts Q2 EPS of $0.16. Revs rose 15.9% to $949.8M.
  • Norfolk Southern's Q2 profit jumps 42% to $557M as revs rose 18.1% to $2.87B.
  • RadioShack's Q2 net falls 53% to $24.9M amide inventory write-offs, closure of plant.
  • Ryder's June net income rises from $30M to $40M.
  • Santander Q2 net profit €1.39B vs. €2.23B; sets up €620M fund for U.K. PPI claims.
  • Supervalu Q1 earnings rises 10.5% to $74M, tops estimates.
  • UPS maintains 2011 outlook despite slow economic growth; Q2 profit rises 26%.
  • Valeant is said to approach Swedish drugmaker Meda about takeover offer.