Jim is shorting a metals company in Germany….
Comments »Monthly Archives: April 2012
U.S. Equity Preview: $MDRX, $AMZN, $ATHN, $CLWR, $CTCT, $DECK, $EXPE, $F, $JAZZ, $PG, $SBUX, $WDC, $ZNGA
Upgrades and Downgrades This Morning
AET, AEM, APD, ALU, MDRX, AMZN, AMCC, BIDU, CBG, CTCT, DECK, EBAY, LOGI, PCS, PM, REGN, SNDK, STX, WDC, ZNGA
Comments »In Play and On the Wires
The House Okays CISPA
“WASHINGTON (AP) — The House ignored Obama administration objections Thursday and approved legislation aimed at helping stopelectronic attacks on critical U.S. infrastructure and private companies.
On a bipartisan vote of 248-168, the GOP-controlled House backed the Cyber Intelligence Sharing and Protection Act, which would encourage companies and the federal government to share information collected on the Internet to prevent electronic attacksfrom cybercriminals, foreign governments and terrorists.”
Comments »GDP: Prior 3%, Market Expects 2.5%, Actual 2.2%
Merck. $MRK, Profits Top Expectations
“Merck & Co. (MRK), the second-largest U.S. drugmaker, reported first-quarter profit that beat analyst estimates on higher sales of its diabetes treatments.
Net income was $1.74 billion, or 56 cents a share, compared with $1.04 billion, or 34 cents, a year earlier when Merck took a $500 million charge to settle a dispute with Johnson & Johnson (JNJ), the Whitehouse Station, New Jersey-based company said today in a statement. Earnings per share excluding one-time items beat by 1 cent the 98-cent average of 18 analyst estimates compiled by Bloomberg.”
Comments »Ford, $F, Reports its 12th Consecutive Quarterly Profit
While reporting a profit, Ford did see profits fall from overseas operations…
Comments »President Elect Hollande Continues Attacks Upon Merkel
“Francois Hollande’s stepped-up attacks on Chancellor Angela Merkel’s belt-tightening solution toEurope’s crisis show he doesn’t understand his country’s economic shortcomings, an aide to the German leader said.
The intensifying war of words between the French presidential race frontrunner and Merkel is putting the two politicians from Europe’s two largest economies on a collision course over ending the region’s sovereign debt crisis.
“It’s not for Germany to decide for the rest of Europe,” Hollande said late yesterday on France 2 television, prompting Michael Meister, the deputy caucus chairman of Merkel’s Christian Democrats, to say in a phone interview today that “Herr Hollande has misunderstood the problems in his country and in other euro area countries.”
Anyone want to place a bet on Hollande getting DSKed ?
Comments »Consumer Spending Falls in France
Acquisitions Helped Sanofi, $SNY, Post a Rise in Profits
Profits Climbed 13% for Sanofi as the Lantus and Genzyme acquisitions dropped to the bottom line.
Comments »Spain’s Economy Minister Says Banks are Fully Funded and Don Not Need a Bailout
“Spanish Economy Minister Luis de Guindos ruled out seeking a bailout hours before Standard & Poor’s cut the country’s credit rating to three levels above junk and a report showed unemployment jumped close to a record.
“Nobody has asked Spain, either officially or unofficially” to turn to Europe’s bailout mechanisms, he said in an interview in Madrid late yesterday. “We don’t need it.”
Comments »Chinese Stocks Continue to Fall as Earnings Expectations Miss
“China’s stocks fell, capping the benchmark index’s first weekly losses in a month, as slumping corporate earnings overshadowed speculation the central bank will ease monetary policy to boost economic growth.”
Comments »Aussie and Kiwi Dollars Fall on the Spanish Downgrade
Risk off for currencies as the downgrade in Spain cause investors to be cautious.
Comments »Gold Traders Get Bullish as Central Banks Continue to Accumulate
“Gold traders are more bullish after central banks expanded their bullion reserves and hedge funds increased bets on a rally for the first time in three weeks.
Fourteen of 28 analysts surveyed by Bloomberg expect prices to gain next week and nine were neutral, the highest proportion in two weeks. Mexico, Russia and Turkey added about 44.8 metric tons valued at $2.39 billion to reserves in March, International Monetary Fund data show. Fund managers raised their so-called net-long positions by 2.5 percent in the week ended April 17, according to the Commodity Futures Trading Commission…”
Comments »Samsung Beats on Profits as They Outsell Apple in Phones
“Samsung Electronics Co. (005930), the world’s biggest maker of mobile phones, computer-memory chips and TVs, posted its highest profit in at least two years after beating Apple Inc. (AAPL) and Nokia Oyj in smartphone sales.
Net income jumped 81 percent from a year earlier to 5.05 trillion won ($4.4 billion), the Suwon, South Korea-based company said in a statement today, beating the 4.24 trillion-won average of 29 analyst estimates compiled by Bloomberg…”
Comments »European Markets Rally and the Euro Pares Losses Despite the Downgrade in Spain
Barclays Feels the Shareholder Pressure
Shareholders have been complaining about executive pay and Barclays pledges to bring down compensation.
Comments »Oil Pares Most Losses into This Mornings Session
Spain’s downgrade caused oil to sell off, but in NY both Brent and WTI appear to be hugging the flat line.
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