Frontrunning: September 27

Tyler Durden's picture
  • China’s Developers Face More ‘Severe’ Credit Outlook, S&P Says (Bloomberg)
  • Hong Kong’s Tsang Sees ‘Soft Landing’ for Property, Keeps Peg (Bloomberg)
  • SEC Eyes Ratings From S&P (WSJ)
  • Geithner Predicts Europe Will Step Up on Crisis After Chiding (Bloomberg)
  • Big audit firms face Brussels onslaught (FT)
  • Fed Officials Express Doubt About Faster Inflation as Tool to Boost Growth (BBG)
  • Medvedev fires mutinous finance minister (FT)
  • EU urged to probe Hungary mortgage move (FT)
  • Anger rises in India over redrawn poverty line (FT)

Global economic highlights from Egan-Jones

  • Asian stocks rebounded from a 16- month low, following two days of gains in the US. 
  • ECB dramatically scaled back its purchases of government bonds last week.
  • German business confidence fell to a 15-month low in Sept amid Europe’s debt crisis.
  • Sales of new US Homes decreased to six-month low in August.
  • Senate reached a bipartisan deal on stopgap spending designed to avoid a govt shutdown.
  • Accuride lowers FY11 EPS guidance to $(0.05)-$0.04 vs. $0.48 consensus.
  • Berkshire to repurchase Class A,B shares at prices no higher than a 10% premium. 
  • Carlyle Group buys technology provider ITRS Group, terms not disclosed.
  • Clorox investor Carl Icahn withdraws proposed slate of directors.
  • Deloitte & Touche sued for $7.6 billion in massive mortgage fraud case.
  • Enbridge Energy Partners LP raised by 20% to $700M its cost estimate for cleaning
    up oil pipeline leak in Michigan.
  • Equity One Inc. to sell 36 shopping centers to Blackstone Realty fund for $473.1M. 
  • Genuine Parts acquires 30% stake in Exego for ~ $150M.
  • Integrated Device Technology cuts revenue forecast on 'broad-based weakness'.
  • Intercell is in exploratory talks with PE firms after stock plunges.
  • Kodak's shares plunge 27% as investors worry co. can't pull off turnaround plan.
  • Lions Gate estimates 2Q loss on movie duds.
  • ONEOK Partners guides FY12 net guidance to $740-800M; FY11 view is $630-660M.
  • Oracle may make acquisitions to gain industry-specific software, Hurd says.
  • Several influential shareholders called for more changes atop UBS.
  • Economic Calendar: Case-Shiller 20-city Index, Consumer Confidence to be released.
  • Earnings Calendar: AM, CMTL, HPOL, PAYX, PRGS, ZANE.

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Popo's picture

A "soft landing" for Hong Kong builders?




First, Real Estate always goes up.

Then it's expected to slow.

Then it's expected to reach a stable plateau.

Then it's expected to decline modestly.

Then it's expected to suffer a "soft landing"

And right about then the shit usually hits the fan.


There will be no "soft landing" in HK.  HK banks are deeply involved in mainland investments.   Those mainland investments are going to shit the bed.    HK banks will also, shortly thereafter,  shit the bed.    


There will be no soft landing.

snowball777's picture

I'm sure the guys with the two parachutes will do okay...the airframe, crew, and passengers...not so much.

snowball777's picture

"Geithner Predicts" 

With his track record?! ROTFLMAO


Kina's picture

Fed Officials Express Doubt About Faster Inflation as Tool to Boost Growth


Now, they say something.

snowball777's picture

What? Higher prices and financing costs can't make broke people spend? Whocouldanode?

snowball777's picture

"Oracle may make acquisitions to gain industry-specific software"

Oracle fresh out of ideas and talent; going the Microsoft route.

snowball777's picture

"Several influential shareholders called for more changes atop UBS"

Any of them from Singapore?

buzzsaw99's picture

Another train crash in China. OH YEAH! Taking over the world with their uber-smartz bitchez.

High Plains Drifter's picture

they just announced that boeing is taking its dreamliner on a maiden flight to tokyo, i don't think this is a good idea. tokyo is contaminated. maybe they should rethink this they are going to fly in there and then bring that stuff back with them to amerika....duh????

toady's picture

'India redraws poverty line'

Their poverty line is 64¢ a day, the US is $64 a day.

Global free trade is pushing wages down, and the corporations won't be happy till we are all on par with India.

Stock up now while you can!