Courtesy of Tyler Durden
- And the truth keeps coming out: Evacuation urged for radioactive hot spots in Japan beyond 20km zone (Japan Times)
- Germany’s Merkel: Europe and Euro Tightly Bound Together (WSJ)
- Hardline IMF forced Germany to guarantee Greek bailout (Guardian)
- Hunt for ‘Holy Grail’ Hunt Pits ECB Against Naked Banks (Bloomberg)
- Default by Greece ‘Almost Certain’: Greenspan (Bloomberg)
- SEC could file Civil Fraud charges against some Raters (Reuters)
- Merkel’s Greek Bondholder Gambit Tested as Sarkozy Visits Berlin (Bloomberg)
- Biggest banks face capital clampdown (FT)
- Too Big to Fail Ends With Wave of a Magic Wand (Bloomberg)
- Biden Talks Aimed at $4 Trillion in Cuts Over 10 Years (WSJ)
- California’s Brown vetoes fellow Democrats’ budget (Reuters)
- U.S. Confidence Out of Sync With Stock Gains (Bloomberg)
- High-frequency trade sparks flash fires in commodities (Reuters)
- Assad’s cousin to give up business activities (FT)
- Prada raises HK$16.7bn in Hong Kong listing (FT)
- Baum: Soft Patch 2, Not QE2, Is Main Influence on Rates (Bloomberg)
Global highlights courtesy of Egan-Jones
- Bank of Korea may need to slow rate rises, Board member says.
- Basel said to weigh 3.5 percentage point fee to curb bank growth.
- China central bank finds officials stole $123.7B of public money over 15 years.
- Consumer expectations in US drop to lowest level in two years.
- Euro poised for second weekly loss before EU leaders meet on Greece debt.
- Greenspan says Greece default ‘almost certain,’ may trigger US recession.
- IEA warns of sweet crude shortage without Libya.
- IMF says ‘We stand ready to continue our support for Greece’.
- Philadelphia Fed Manufacturing Index falls to -7.7 in June from 3.9 in May.
- Actuant Corp Q3 profit up 67% to $36.4M on 27% higher sales, raises 2012 EPS view.
- Borders Group extends leases on 11 stores, still negotiating to keep 40 more open.
- CapitalOne purchases ING’s US bank for $9B cash and stock.
- Central Garden approves $100M share repurchase program.
- Energy Transfer Equity LP to acquire Southern Union Co. for about $4.2B.
- India’s Tata Steel to sell its 26.27% stake in Riversdale Mining to Rio Tinto for $1.12B.
- ING to sell US online bank to Capital One for $9B in stock and cash.
- Kroger Co.’s Q1 net rises 16% to $432.3M. Revs up 11% at $27.5B.
- MBIA hid potential losses of up to $950M from regulator, banks say.
- McKesson Corp. backs fiscal 2012 EPS f’cast between $5.55 and $5.75.
- Oracle seeks billions of dollars in damages from Google over alleged patent infringements.
- Prada said to price shares at $HK39.50 each in Hong Kong IPO.
- RIM to cut jobs as f’cast misses estimates on sales slump. Sees qtrly revenue dropping for the first time in nine years.
- Smithfield Foods: Co. has hedged 50% of its feed-grain costs for the year at prices well below the current market.
- Steel Dynamics guides Q2 EPS at $0.35-0.40 vs. $0.56 consensus estimate.
- Winnebago profit falls 80% to $1.2M on lower margins. Revs flat at $135.6M.
Economic Calendar: Data on Mich Sentiment, Leading Indicators to be released today.
Earnings Calendar: AIM, CAVO, CCG, FTLK, LPHI, TIK.
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