Frontrunning: September 28

Tyler Durden's picture
  • Euro Crisis Makes Fed Lender of Only Resort as Funding Dries Up (Bloomberg)
  • Germany Slams 'Stupid' US Plans to Boost EU Rescue Fund (Telegraph)
  • US Inflation Expectations Lowest for a Year (FT)
  • Chinese Banks Raise Cash to Cushion Against Bad Debts (WSJ)
  • Banks Wary of Financing Big Projects (FT)
  • German Ruling Coalition Faces Tricky Bailout Vote (WSJ)
  • Health Insurance Costs Deal Blow to Obama (FT)
  • China Warns Asia Not to Hide Behind U.S. Military (Bloomberg)
  • Japan Ruling Party Proposes $120B Tax Increase (Bloomberg)

Global economic highlights from Egan-Jones:

  • Asian markets gain as investors take heart from European moves to contain debt crisis.
  • China’s stocks drop to 14-month low, as property, railway companies sink.
  • Oil falls to near $83/bbl in Asia after sharp rally ahead of key US economic releases.
  • SEC proposes changes in market halts to apply to smaller declines, shorten them.
  • Split opens over Greek bail-out terms; 7 eurozone members press for banks to pay more.
  • Accenture's Q4 profit grows 37% as bookings jump; board ups dividend, buyback plan.
  • AMR Corp. to mortgage planes, raise $726M.
  • Atmel Corp. to buy Advanced Digital Design SA, terms undisclosed.
  • Citic Securities said to raise $1.7B in Hong Kong share sale.
  • Jabil Circuit's qtrly net nearly doubles to $114.3M amid strong revenues, cost cutting.
  • General Motors workers expected to approve new four-year contract with company.
  • KKR & Co. is among firms weighing a bid for Axa SA’s private equity fund unit.
  • Man Group Plc shares fall 20% after it said its AUM will decrease.
  • Paramount Pictures is restructuring, merges home entertainment & licensing operations.
  • Paychex's Q1 net rises 13% as revs gained 9% at $563.1M, helped by acquisitions.
  • RBC Capital pays $30.4M to settle SEC charges it misled 5 Wisconsin school districts.
  • RIM shares rise on speculation investor Carl Icahn taking stake.
  • SABMiller bid for Foster's clears regulatory hurdle.
  • SandRidge Energy to sell Texas natural gas property for $231M, invest in oil drilling.
  • Standard Microsystems' Q2 net income dips 7/8% despite 8% revenue gain.
  • Synnex Corp.'s Q3 net rises 26% to $39M helped by acquisitions. Revs up 18% at $2.57B.
  • Toyota records first worldwide output growth of 10.6% in a year as production recovers from disasters.

Economic Calendar: MBA Mortgage Index, Durable Orders, Crude Inventories to be released.
Earnings Calendar: ATU, DRI, DYNT, FDO, FFI, MKC, SNT, THO, TXI

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wang's picture
wang (not verified) Sep 28, 2011 8:43 AM

Family dynasty behind BMW admits to using 50,000 slave labourers during Nazi era

ya and 50 years from now just replace BMW with whatever Brand and Nazi with China

Vic Vinegar's picture

Life is good, ain't it? 

Big ups to Japan for getting back on track - Toyota is doing well and tax receipts are going to rise if the tobacco tax goes through. 

Quadlet's picture

What's in the POTUS's jobs bill that "Congress must pass immediately?"

Sec. 111. Extension of temporary 100 percent bonus depreciation for certain business assets.

Subtitle F--Building and Upgrading Infrastructure for Long-Term Development
PART I--American Infrastructure Financing Authority

Subtitle H--National Wireless Initiative
PART I--Auctions of Spectrum and Spectrum Management

gkm's picture

US Inflation Expectations Lowest for a Year

And how did that work out for them.

whirlybird rules's picture

load up on S&P puts

 

lolmao500's picture

Sarkozy also saw his butt kicked sunday in the senate election, for the first time since the end of WW2, the socialists control the senate.

There's presidential elections in april in 2012 in France. Sarkozy is gonna get his butt kicked most likely.

The new socialist government might quit bailouts/increase them with no possible way to pay for them... which will end up with a big clusterfuck either way.

dida's picture

This is not just an Euro Crisis, I think it is happening at a mondial level and it will be very difficult for every country to overrate this situation. Implant dentar