Frontrunning: October 6

  • Steve Jobs "may never be equaled" (Reuters)
  • Secret panel can put Americans on "kill list" (Reuters)
  • Michael Lewis: California and Bust (Vanity Fair)
  • Europe’s Rescue Fund is Only Last Resort (Bloomberg)
  • EC To Propose Coordinated Action On Bank Recapitalization (MNI)
  • SNB Foreign Currency Reserves Climb to Record (Bloomberg)
  • Geithner Says Europe Debt Crisis Poses Risk to Global Growth (Bloomberg)
  • Repatriation Tax Holiday to Be Proposed by Hagan, McCain (Bloomberg)
  • China Tests US With Currency Move (FT)
  • China on Course to Squeeze Property Bubble (Xinhuanet)
  • Banks Face New European Stress Tests (FT)
  • Turkey Tries Three Steps To Close Off Lira's Slide (WSJ)
  • Palin Won’t Make 2012 Presidential Bid (Bloomberg)

Global headlines courtesy of Egan-Jones:

  • ADP estimates US companies added 91,000 jobs in Sept., better than expected.
  • Asian markets rebounded solidly after positive U.S. jobs data.
  • Bank of England may edge closer to bond purchases.
  • China to loosen policy as property markets cool.
  • European Central Bank could take steps to shore up banks, rate move possible but less likely.
  • EU to test bank capital for deeper Greek losses
  • ECB keeps benchmark rate unchanged at 1.5%.
  • German industrial orders down for second straight month with 1.4% drop in August.
  • Oil rises above $80 a barrel on hopes Europe will stabilize.
  • Spain raises $6B in debt auction as investors show good appetite despite contagion fears.
  • Acuity Brands' Q4 profit rose 26% on higher volumes. Revs up 12% at $496.2M.
  • Aeon posted a 19% drop in H1 profit, but expects record full-year earnings as cost cuts.
  • Akorn to acquire certain assets of Kilitch Drugs in India, for $52M.
  • Apple's co-founder and former CEO Steve Jobs has died at age 56.
  • BofA may face fraud claims for soured loans.
  • Corning hikes dividend, approves $1.5B buyback.
  • Deutsche Boerse gets EU objections to NYSE deal.
  • General Dynamics board authorizes plan to buy back up to 10M shares.
  • Marriott swings to Q3 loss of $179M on impairment charges. Revs up 9% at $2.87B.
  • Omnicare extends the $456M hostile bid for PharMerica.
  • Oracle announced plans to let businesses use the Internet to access applications.
  • RPM Intl posts a better-than expected 11% rise in Q1 profit at $76.8M. Revs up 10%.
  • Sara Lee in final talks with DoJ over the sale of its N.American fresh bakery business.
  • Toyota's global vehicle production back at pre-tsunami levels.
  • Walgreen September same-store sales up 3.1%.
  • Yahoo shares decline on reports of MSFT \not mulling an acquisition bid for the former.
  • Zumiez September same-stores sales rise 10.1%.

Economic Calendar: Initial Claims & Continuing Claims to be released.
Earnings Calendar: ANGO, HELE, PEDH, RBN, SKY, STZ, SWFT.


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