EFTA00432263.pdf

From: Ike Groff <MI > Subject: early tour 6.21.11 Date: Tue, 21 Jun 2011 10:26:57 +0000 Good Morning ... European Markets up 55-100 bps ... Nikkei Closed +1.13% (China +0.96%) EUR 1.4333 (+0.20%) JPY 80.18 (+0.09%) Corn +1.59% Wheat +1.15% Copper +0.34% 10yr 2.96% Futures: Dow +46, Nasdaq +8, S&P +6 DXY 74.87 (-12c) Crude $94.10 (+84c) Gold $1545.20 (+$3.20) ***Existing Home Sales @ 10am, Greece confidence vote tonight - 5pm est*** ***CCL, WAG, BKS report pre-open / ADBE & JBL l's after close*** ***Jefferies Consumer Conf. (Nantucket) & RBC Metals Mining Conf. (Toronto)*** Foster's rejects unsolicited $10B bid from SABMiller (SAB to engage board) (FGL AU closed +13.5%) WellPoint reaffirms full year eps of at least $6.70 (street = $7.06) ahead of Wells Fargo HC conference Paulson liquidates Sino-Forest holdings (TRE CN), Pentwater reports 9.3% stake in Harbin Electric (HRBN) Renren (RENN) reports a narrower Q1 loss on relief from warrant write-downs last year & sales +47% Astrazeneca is close to selling Astra Tech to Dentsply International (XRAY) for about $1.8 billion Susquehanna Bancshares (SUSQ) acquires Tower Bancorp (TOBC) for $243 million (37.5% premium) Stanford University CIO Ken Frier leaves after less than one year on the job (-$14 billion endowment) Gartner cuts its 2011 global semiconductor revenue growth forecast to 5.1% versus previous 6.2% German ZEW investor confidence falls for a fourth month in June on debt concern (lowest since Jan 2009) U.K. budget deficit narrows to £17.4B in May as revenue growth from taxes outpaces government spending Russian unemployment rate plunges in May to the lowest level since 2008 (6.4% versus estimate 7.0%) Spain sells E3 billion of three-month & six-month bills (average yield 1.568% & 1.776% respectively) Greece sells 01.625 billion of 13-week treasury bills with average yield 4.62% (bid-to-cover = 2.94) Hong Kong inflation quickens to 34-month high on food & rent costs (CPI +5.2% versus estimate +5.0%) Hong Kong Disneyland will raise one-day ticket prices by - 13% in 2 months to $51 (Standard reports) EFTA00432263 Toyota & Honda Motor plan to add as many as 5,000 temporary workers in Japan as production recovers RBA minutes say it was prudent to hold rates unchanged amid concern EU debt crisis might worsen Leading European Sectors: Oil & Gas +1.37%, Construction +1.23%, Technology +1.10% Lagging European Sectors: Food & Beverage -0.14%, Healthcare -0.08%, Utilities +0.06% NLY declares 65c Q2 div - GES chairman to retire - MSY LN gets prelim approach LEA increases credit facility - ACW acquires Forgitron tech - SGMS jv PTEC.LN PSTR announces settlement - WFT settles w BP $75M - CCSC guides revs lower Secondaries (announced/priced): ACHN, IVR, PSEC, FSC IPO's: N/A Key Research: GS cautious on MU, RBC upgrades ARE/BXP/DRE & downgrades BDN/PDM, Wunderlich upgrades SPWRA Key Research: DB upgrades BIIB (buy), KBW downgrades PNC & initiates WY (op), Piper upgrades WSO Key Research: JPM initiates CRM (neutral), CRT initiates WYNN (fairly valued), UBS upgrades PLD (buy) Key Research: Edward Jones downgrades PH, Portales upgrades AON (buy), MOKE initiates ARUN (op) Key Research: Benchmark initiates KTOS (buy), Global Hunter initiates BBG (accumulate), MS removes UBS best ideas Key Research: GS initiates MDR (conviction buy) & removes CVE & adds SNCR conviction buy, Canaccord assumes SM (buy) Key Research: Rodman & Renshaw initiates MTSN (mop), CS downgrades MMI/RIMM & reduces target NOK Key Research: Maxim initiates AFFX/ILMN (buys) & LIFE/PACE (holds), MKM initiates ALKS (buy) Reporting Pre-Open: CCL, WAG, BKS, CMC, GRB, KEF, RLOG Reporting Post-Close: ADBE, JBL, AMSWA, APOG, AVAV, FSII, KEQU, LZB Economic Data: ICSC-Goldman Chain Store @ 7:45am, Redbook Chain Store @ 8:55am, Existing Homes Sales @ 10am API Crude Inventories @ 4:30pm Conferences: GS Euro Business Services (London), JPM Asia Pacific (NYC), Macquarie SMID Cap Utilities (Boston) Conferences: RBC Global Mining & Materials (Toronto), Jefferies Global Consumer (Nantucket, MA) Analyst/Investor Days: AER, CBT, TNDM, FSL Non-Deal Roadshows: AGN, CNQ, CNW, CNX, DAL, EHTH, EXPE, HME, ITW, JOSE, KALU, KIM, LTD, MGA, MNGPY, NEE, NOV, NSU, QCOM, REN, RFMD, RLI, SCBFF, SIRO, SPPI, TTGT, UPI, USPH, VSAT, VZ, OCR Shareholder Meetings: ISBC, ALTH, BEXP, IDSY, IOC, LSE, BB?, LBTYA, PPD, RVM, APP, NSM Equity/Mixed Shelf s: BKH, CP (C$1.5B) Other Newspaper Articles & Stories WSJ cautious: Gazprom (OGZD LI) WSJ<http://online.wsj.com/article/SB10001424052702304070104576397893650631056.html> Feds Sue Bankers Over Fall in Bonds WSJ<http://online.wsj.com/article/SB10001424052702304070104576397590007402016.html? EFTA00432264 mod=WSJbusinesswhatsNews> EMI Placed on Block, Faces Chance of Breakup WSJ<http://online.wsj.com/article/SB100O1424O52702303936704576397761678568554.html> Korean Air Set to Order CSeries Jet WSJ<http://online.wsj.com/article/SB100O1424O52702303936704576399O9388O650166.html> Lending Battle Is Risky Business WSJ<http://online.wsj.com/article/S8100O1424O52702304887904576398O52042510O20.html? mod=WSJ business whatsNews> Immigrant Moguls Compete to Write Future of Borders WSJ<http://online.wsj.com/article/SB100O1424O5270230407O104576397954196493870.html> Baseball's Dodger Deal Strikes Out WSJ<http://online.wsj.com/article/S8100O1424O52702303936704576398190162393466.html> Beijing's Financial Day of Reckoning Is Near WSJ Opinion Carl E. Walter & Fraser J.T. Howie<http://online.wsj.com/article/SB1OO014240527O2304O701O457639759O197265296.html? mod=ITP_opinion_0> Director or No, Wall Street's Newest Cop Is Ready for Duty NYT<http://dealbook.nytimes.com/2011/06/20/director-or-no-wall-streets-newest-cop-is-ready- for-duty/?ref=todayspaper> Big Banks Lose Ruling on Research NYT DealBook<http://dealbook.nytimes.com/2011/06/20/wall-street-banks-lose-ruling-on-research/? ref=todayspaper> Bonus Cuts, Pay Raises, Then Layoffs NYT DealBook<http://dealbook.nytimes.com/2011/06/20/bonus-cuts-pay-raises-then-layoffs/? ref=todayspaper> Astra2eneca to offload Swedish division FT<http://www.ft.com/intl/cms/s/0/57d98c2e- 9673-11e0-bbc6-O0144feabdc0.html#axzzlPrcs41A7> Boeing and Airbus call time on duopoly FT<http://www.ft.com/intl/cms/s/0/55alfcfO- 9b39-11e0-a254-O0144feabdc0.htmliaxzzlPoAMGvG3> Manufacturers set to land big orders FT<http://www.ft.com/intl/cms/s/O/6eec2164- 9b60-11e0-bbc6-O0144feabdc0.html#axzzlPoAMGvG3> Brussels draws up rules on data security breaches FT<http://www.ft.com/intl/cms/s/0/bO9059e4-968f-11e0-98f2-0O144feabdcO.htmlfaxzzlPoAMGvG3> Bidders seeking Greencore taste as rumours stalk group Daily Mail<http://www.dailymail.co.uk/mostread/article-2O05916/MARKET-REPORT-Bidders-seeking- Greencore-taste-rumours-stalk-group.html> Merchandise sales drive Pixar's 'Cars' franchise LA Times<http://www.latimes.com/business/la-fi-ct-cars2-2O110621,0,7311013.story> Cognizant, Capgemini in race for Oracle's financial services business Economic Times<http://economictimes.indiatimes.com/tech/ites/cognizant-capgemini-in-race-for-oracles- financial-services-business/articleshow/8932O92.cms> Elpida, Micron reportedly in talks on DRAM partnership DigiTimes<http://www.digitimes.com/news/a2011O620PD205.html> HP, Acer set eyes on the enterprise PC market DigiTimes<http://www.digitimes.com/news/a2011O620PD216.html> Nokia Introduces N9, Reiterates First Windows Phones Will Ship This Year All Things Digital<http://allthingsd.com/2011O620/nokia-ceo-reiterates-first-windows-phones-will-ship- EFTA00432265 this-year-but-quantities-may-be-limited/> If You Want That Verizon Unlimited Data Plan, You Really Need to Hurry All Things Digital<http://allthingsd.com/20110620/if-you-want-that-verizon-unlimited-data-plan-you- really-need-to-hurry/> Toyota Motor to hire 3-4K contract workers in mid-July to help it raise production - Nikkei Key Events This Week Wednesday: FOMC Rate Decision (Bernanke press conference), House Price Index, Wells Healthcare Conference (Boston), Earnings (FDX, KMX, BBBY, PAYX, RHT) Thursday: EU Leaders Summit (23rd-24th), BOE minutes, New Home Sales, Chicago Fed, Earnings (CAG, DFS, LEN, MKC, HRB, ORCL) Friday: Russell Rebalance, GDP, Durable Orders, Michigan Confidence, BOE to release minutes of Financial Policy Committee meeting This e-mail and any files transmitted with it are confidential and intended only for the person or entity to which it is addressed. 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