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Frontrunning: October 31

Tyler Durden's picture




 
  • Azumi Pledges More Action After Yen Intervention (Bloomberg)
  • Japan to buy more EFSF bonds-Europe fund chief (Reuters)
  • Draghi in Battle Mode From Day One at ECB (Bloomberg)
  • Berlusconi Stays Defiant as Europe’s Crisis Focuses on Italy Reform Effort (Bloomberg)
  • Hu starts key trip to Europe (China Daily)
  • Europe will not offer China concessions for aid: Juncker (Reuters)
  • Europe Might Have Blown Last Chance to End Its Crisis (Bloomberg)
  • Schäuble calls for EU lead on Tobin tax (FT)
  • UK faces "economic suicide" if on EU margins – Clegg (Reuters)
  • China to properly fine tune macro policy (China Daily)
  • UK eyes infrastructure fund to boost growth (Reuters)

Global headlines courtesy of Egan-Jones

  • Asian stocks decline as Acer, Tohuku Electric report losses; Qantas jumps.
  • China to 'firmly' maintain property curbs: Wen.
  • Japanese FM said the govt intervened in the foreign exchange market.
  • Treasuries rise on speculation US job growth slowed; monthly loss pared.
  • UK Home prices decline as outlook worsens, Hometrack says.
  • US consumer spending gain of 0.6% helps economy skirt recession relapse.
  • Arch Coal misses by $0.05, misses on revs; reaffirms FY11 EPS guidance.
  • B&G Foods Inc. to buy Culver Specialty Brands from Unilever for $325M in cash.
  • Beacon Power Corp. files for bankruptcy protection in Delaware.
  • Borg Warner beats by $0.11, beats on revs; raises FY11 EPS guidance.
  • Charles Schwab to acquire Compliance11; Financial terms undisclosed.
  • Chevron reports Q3 EPS of $3.92 (cons $3.42); sales rose 26.2% to $61.26B.
  • DuPont Co. is exploring a sale of its auto-paint division that may fetch $3-4B.
  • EDF said to extend discussions to gain full control of Edison.
  • Enbridge Energy misses by $0.01, Q3 EPS at $0.38. Revs rose 25.6% to $2.37B.
  • Egypt's Sawiris seeks partners for $2.8B France Telecom Swiss unit takeover.
  • Groupon said to consider raising IPO price range on high demand.
  • Honda said its U.S. sales are growing in October, defying analysts’ projections.
  • LyondellBasell's Q3 net jumped 91% to $895M, helped by higher margins.
  • Plains Exploration receives $450M for 20% stake in its Gulf of Mexico business.
  • Precision Castparts' shares drop after Q2 margins came in below expectations.
  • RBS gets GBP4B offer for insurance arm.
  • Sonesta Hotels in talks with various parties over potential transactions incl a merger.
  • Sony may end LCD JV with Samsung.
  • Vestas issues profit warning, cites delayed commissioning of new mfg unit.
  • Wells Fargo canceled plans to charge a $3 monthly fee for using its debit cards.
  • Whirlpool to cut more than 5,000 jobs primarily within North America and Europe.

Economic Calendar: Data on Chicago PMI to be released today.

Earnings Calendar: ALL, CNA, CTB, FMC, HUM, JOE, L, PRE, ROG, ULGX, WINN, Y.

 

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Mon, 10/31/2011 - 08:16 | 1828007 prains
prains's picture

And in other news schauble has found a giant berlusconi on his merkels, film at 6 .

Mon, 10/31/2011 - 08:22 | 1828016 Broomer
Broomer's picture

UK eyes infrastructure fund to boost growth (Reuters)

This worked so well for Japan! Oh wait...

Mon, 10/31/2011 - 08:44 | 1828056 msmith
msmith's picture
The DX appears to have made a bullish breakout.  If this move is sustained today, then it is likely to have huge implications on the markets with a "risk off" tone.  http://bit.ly/rO5KVH
Mon, 10/31/2011 - 09:06 | 1828081 Schmuck Raker
Schmuck Raker's picture

"Market estimates have pegged the size of the intervention at more than $130 billion (¥10.3 trillion), said Simon Derrick, currency strategist at Bank of New York Mellon, compared to around $57.1 billion in the previous bout of Japanese intervention on Aug. 4." -Mktwtch

 

Mercy, $130B less to fund EFSF bonds.

iWeep for Draghi.

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