Courtesy of Tyler Durden
- S&P Raises the Stakes in Deficit Battle (FT)
- France and Switzerland most exposed to Greece’s debt crisis, say analysts (Guardian)
- EU Budget Plan Angers Austere States (FT)
- Prospects Of Stepped-Up Yuan Strength Lifts Asia FX (Market News)
- Bernanke Bond Market Signals No Shift With Obama Deficit Cutting (Bloomberg)
- Bernanke to Open Up as Fed Embarks on Era of Glasnost (Hilsenrath)
- Australia Won’t ‘Manipulate’ Currency Now at Record (Bloomberg)
- World Revs Up U.S. Profits (WSJ)
- Balkan Economic Recovery Is at Risk From Greek Woes, Mirow Says (Bloomberg)
- S. Korea to Inspect Banksover FX Derivatives Trade (Reuters)
- U.S., Europeans Step up Efforts to Aid Libyan Rebels (WaPo)
- Photographer Killed in Battle (WSJ)
- South Korea Renews Currency-Market Scrutiny (WSJ)
Summary Highlights from Egan Jones:
- Asia central banks intervene as currencies rally.
- Brazil raises benchmark interest rate to 12% – third rate hike this year.
- Japan’s corporate loan demand rises for first time since 2009 after quake.
- Akzo Nobel NV reported that Q1 net income rose 58% on 16% higher revenue.
- American Electric Power’s March net income rises from $345M to $353M.
- American Express profit climbs 33% on card purchases, fewer late payments.
- Amgen’s Q1 net slips 3.1% to $1.13B despite a 3% rise in revs to $3.71B.
- Apple’s net income rises 95% to $5.99B after IPhone debuts for Verizon.
- Dai-ichi gets regulatory approval to acquire Tower Australia Group.
- E*Trade reported Q1 EPS of $0.16, beating analyst estimate of 12 cents on average.
- Ferrexpo Plc surges amid speculation that Vale SA will make a bid for the co.
- Fiat to raise Chrysler stake by 16% in Q2, to pay €1.268B to exercise the option.
- GE’s March net income rises from $1.9B to $3.4B.
- Gilead Sciences posts Q1 EPS of $0.87 (cons $0.97). Revs fell 8% to $1.93B.
- Honeywell beats by $0.06, beats on revs; raises FY11 EPS view, revs above cons.
- HSBC Holdings CEO plans to announce a major shakeup at an investor day on May 11.
- JetBlue’s March net income rises from a $1M loss to a $3M gain.
- Kinder Morgan Partners reports Q1 EPS of $0.43; revs fell 6.4% to $1.99B.
- McCormick & Schmick’s Board rejects LSRI Holdings’ unsolicited tender offer of $9.25/sh.
- Morgan Stanley’s March net income declines from $1.8B to $966M.
- Qualcomm’s Q2 profit rises 29.1% to $999M as revs jump 44.4% to $3.9B.
- Sallie Mae reinstates student lender’s dividend as loan originations gain.
- Southwest’s March net income falls from $11M to $5M.
- TEPCO in talks with its labor union to cut annual salaries of employees by about 20%.
- Terex misses by $0.07, beats on revs; raises FY11 revs in-line, reaffirms EPS view.
- Verizon’s March net income rises from $409M to $1.4B.
- Xerox’s March net income rises from a $42M loss to a $281M gain.
- YUM! Brands misses by $0.01, beats on revs. Q1 EPS at $0.63. Revs rose 3.4% to $2.42B.
Economic Calendar: Data on Initial & Continuing Claims, Philadelphia Fed, Leading Indicators, FHFA Housing Price Index to be released today.
Earnings Calendar: AEP, AMD, APD, BAX, BBT, BIIB, BLK, BX, CB, CHINA, CNH, COV, DHR, DO, DOV, ESV, FITB, GE, IDXX,