Frontrunning: May 6

  • Goldman’s Blankfein Faces Investors Amid ‘Lingering Problems’ (Bloomberg)
  • One Year After Stock Crash Regulators Still Vexed by Fragmentation (Bloomberg)
  • Republicans Split Over Medicare Plan (FT)
  • Workers Re-Enter Reactor Building for the First Time (WSJ)
  • JPMorgan Is in ‘Advanced’ Negotiations to Resolve CDO Probe (Bloomberg)
  • China Regulator Defends Internet Role (WSJ)
  • Egypt Front-Runner Seeks Israel Reset (WSJ)
  • U.S. Seeks to Use Frozen Gadhafi Assets to Aid Rebels (WSJ)
  • Kenny Says Ireland Can Handle Its Debt in Sign No Restructuring Is Planned (Bloomberg)
  • World Food Prices Remain High; Weather Threatens Grains (WSJ)
  • Syria Says Military Eases Siege of City (WSJ)
  • Clegg’s AV Hopes Crash in ‘Disastrous End.’ (FT)
  • Mubarak Security Chief Convicted (WSJ)
  • Medvedev Expected to Target Capital Flight (FT)
  • Pranab Calls for Global Efforts to Tame Inflation (Economic Times)

Daily Highlights courtesy of Egan-Jones

  • BOE holds key interest rate at 0.5% on signs recovery is fading.
  • Jobless claims in US unexpectedly jump on auto-plant shutdowns, other unusual events.
  • Commodities plunge most in two years on speculation of slowdown.
  • RBA sees need for higher rates 'at some point' to slow inflation.
  • Asian stocks drop after biggest slump in commodities since 2008; Yen falls.
  • Asia inflation fight spreads as Philippines, Malaysia raise interest rates.
  • AIG profit falls 85% to $269M on Japan, New Zealand disaster claims.
  • Alcatel-Lucent SA Q1 loss narrows to €10M as revenue for the grp rose 15% to €3.74B.
  • BASF AG Q1 net rises 134% to €2.41B as sales rose 25.3% to €19.36B.
  • CF Industries posts Q1 EPS of $3.82 (cons $3.17); revs rose 133.7% to $1.17B.
  • Chiquita Brands beats by $0.15, beats on revs. Q1 EPS at $0.52. Revs up 2% to $824M.
  • DirecTV's Q1 net profit jumped a better-than-expected 21% on higher subs addition.
  • Ecolab to repurchase up to 15M additional shares of Ecolab stock.
  • EOG Resources misses by $0.02, posts Q1 EPS of $0.52. Revs rose 38.4% to $1.9B.
  • Fluor Corp. reported Q1 profit of $140M, up 2.2%. Revs up 4.1% at $5.1B.
  • Ford's April China sales up 3% year-on-year to 44,340 units.
  • Hansen Natural Corp. posted Q1 EPS of $0.59, beating estimates by 20 percent.
  • JPMorgan plans to sell $2B of debt due in 10 years.
  • Kraft Foods lowered 2011 EPS view on loss of Starbucks distribution business, surging commodity costs.
  • Murphy Oil Corp. said it hopes to sell one of its two US refineries in middle of this year.
  • NRG Energy seeks $3.9B of loans to refinance debt, loosen covenants.
  • Pool Corp announces new $100M share repurchase program.
  •'s Q1 profit surged 95% to $104.8M as revs jumped 38% to $809.3M.
  • QLogic Corp. swings to Q4 profit of $33.3M. Revs rose 4.5% to $152.3M.
  • Ryder's March quarter earnings rise from $22M to $44M.
  • Sapient sees Q2 revenue may be as much as $257M vs. cons est of $246M.
  • Sunoco Inc. Q1 loss widens to $101M despite 29.8% jump in revs to $10.63B.
  • Visa Inc. beat Q2 earnings estimates, announced a $1B share buyback.

Economic Calendar: Data on Nonfarm Payrolls, Unemployment Rate, Consumer Credit to be released.


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