Daily Highlights: 10.14.2010

Tyler Durden's picture Submitted by Tyler Durden on 10/14/2010 06:43 -0500

Continuing ClaimsCrudeDubaiEconomic CalendarEgan-JonesGoldman SachsJapanOPECrecoveryRenminbiYen

API shows surprise oil inventory decrease of 4 million barrels for the wk ended Oct. 8.Asian stocks advance as economic, earnings reports boost recovery optimism.Bank of Korea leaves benchmark interest rate unchanged at 2.25%.China’s foreign reserves rise by $194B, adding pressure on value of renminbi.Dollar was quoted at 81.23 yen- 15-year-low against yen.Dubai’s worst office buildings will be empty forever, CBRE says.Fed to buy $32B in Treasury debt in next month.Foreclosure filings up 3% in September over last month.Gold hits fresh highs, taps $1,388.10 on Globex.Japan Producer Prices slide 0.1% as Yen’s appreciation lowers import costs.Japan sets 2% coupon on 600B Yen in 30-year bonds.Oil rises above $83 in Europe on weaker dollar, surprise US crude supply drop.Singapore unexpectedly allows stronger currency even as economy contracts.Apollo Group beats by $0.01, posts Q4 EPS of $1.31. Revs rose 17.3% to $1.26B. Withdraws FY11 forecast, cites fewer new students and regulatory scrutiny.BMB Group offers to pay as much as $4B for Kerzner International Holdings.Celgene and Abraxis announce shareholder vote in favor of merger.EIA: rising OPEC output to keep prices in check.Everest Re says Q3 EPS at around $2.25-2.75 vs. cons est. of $3.01.H&R Block to acquire TaxACT Digital Tax Preparation Business for $287.5M cash.JPMorgan net income jumps 23%; credit costs lower but invt banking profits slide.P&G to invest $1B in China over the next five years.Syngenta’s Q3 sales rose 10% to $2.2B helped by higher vols at its crop-protection biz.Universal Forest Products’ Q3 EPS (excl items) at $0.17 vs. cons est. of $0.52.Walgreen Co. to buy back up to $1B in shares.Wal-Mart lowered the high end of its capital spending f’cast for fiscal 2011 by $1B.XM Satellite radio prices offering of $700M of 7.625% senior notes due 2018.Yahoo said to work with Goldman Sachs to defend against possible takeovers.Zagg Inc. lifted its forecast for 2010 revenue growth to 70% from 30%.

Economic Calendar: Data on Initial & Continuing Claims, PPI to be released.

Earnings Calendar: AMD, CBSH, EMMS, FSBI, GOOG, GWW, HRLY, IDT, JBHT, SWY, WGO.
RECENT RATING ACTIONS
JC PENNEY CO INC (JCP)
CSX CORP (CSX)
INTEL CORP (INTC)
MGM RESORTS INTERNATIONAL (MGM)
RAYTHEON CO (RTN)
CLEARWIRE CORP (CLWR)
E*TRADE FINANCIAL CORP (ETFC)
PEPCO HOLDINGS INC (POM)
E*TRADE FINANCIAL CORP (ETFC)
PEPCO HOLDINGS INC (POM)
CIENA CORP (CIEN)
ATMOS ENERGY CORP (ATO)

By Egan-Jones

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by eigenvalue
on Thu, 10/14/2010 – 07:00
#648709

Gold has been beaten down. I wish today will not be like last Thursday. Hope gold and silver will breach $1400 and $25 respectively this week  and stay there though it seems a bit difficult. 

Login or register to post comments by trav7777
on Thu, 10/14/2010 – 07:12
#648718

Hopin the oil price situation is bein driven by dollar abundance rather than an impending intersection of the production and consumption curves.  If the latter, we’re going to be unable to deny Peak again.

Login or register to post comments by Dan The Man
on Thu, 10/14/2010 – 07:12
#648720

I hope so too. 

If the bombs start falling…i can retire.

(00)

  o

\__/  

Login or register to post comments by Silverhog
on Thu, 10/14/2010 – 07:13
#648724

Silver punched through $24 like cheese cloth. IMO $25 will not be so easy.

Login or register to post comments by eigenvalue
on Thu, 10/14/2010 – 07:17
#648735

If $25 is knocked down this week, then $30 perhaps will be reached this year. 

Login or register to post comments by tmosley
on Thu, 10/14/2010 – 07:23
#648746

It hit 24.95 overnight.

I think this is going to go a LOT faster than most people seem to expect.

Login or register to post comments by morph
on Thu, 10/14/2010 – 07:15
#648728

http://www.bbc.co.uk/news/business-11539561

Login or register to post comments by Goldenballs
on Thu, 10/14/2010 – 07:38
#648765

How bad are things really,most figures are given the most positive slant or selective data is used whatever is more beneficial to the end result of giving the most optimistic slant possible.What is lurking under the surface of all these figures,I suspect rocket fuel for Gold and Silver.Chips are $4.00 a bag,wonder what the cost will be in 6 months or a year,inflation is roaring in the background,soon they will run out of fiddles on figures.

Login or register to post comments by lsbumblebee
on Thu, 10/14/2010 – 08:47
#649008

I’m wondering why gold is lower this morning. Could it be the weaker dollar? Maybe the rise in jobless claims. Or possibly the higher than expected PPI.

What could it be, what could it be…

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