EFTA00435764.pdf

From: Ike Groff Subject: early tour 4.12.11 Date: Tue, 12 Apr 2011 10:41:49 +0000 Good Morning ... European Markets off 75-105 bps... Nikkei Closed -1.69% (Hang Seng -1.34%, China -5 bps) EUR 1.4462 (+0.18%) JPY 84.33 (+0.32%) CHF .9012 (+0.61%) GBP 1.6272 (-0.45%) NZD .7850 (+0.67%) Copper -18 bps Futures: Dow -49, Nasdaq -11, S&P -6 DXY $74.96 (-10c) Crude $110.04 (+12c) Gold $1464.80 (-$3.30) 10yr 3.548% ***Import Price Index / Trade Balance @ 8:30am, Treasury Budget @ 2pm*** ***FAST reports pre-open, JPM kicks off bank Ps tomorrow, Bank of Canada rate @ 9am*** Japan raised nuclear crisis rating to highest level-7 matching 1986 Chernobyl disaster (radiation at 10% of Chernobyl) Rumor out of China that CPI to come in higher than expected (CPI/PPI/Industrial Production/Retail Sales/GDP Y's out Thurs) German April investor confidence fell more than forecast after ECB rate increase (ZEW survey declined to 7.6 vs 14.1 in Mar) UK March inflation unexpectedly slowed for 1st time in 8months as food prices plunge (GBP moved lower to 1.625 on release) UK retail sales dropped by record in March (1.9% y/y) as accelerating inflation concern over job cuts held back spending Alcoa Q1 income beat but sales missed estimates curbed by a weaker US dollar & higher energy costs (trading -3%) HMS Industries (slot machine maker) warned Q3 revenues to be below estimates on weak new unit demand (trading -10%) IMF & ECB officials meet in Lisbon today to start preparing Portugal C8OB bailout program (aims for May 16th agreement) IEA kept 2011 global oil demand outlook little unchanged but warned prices above $100/barrel starting to hurt global economy Delta Lloyd plunged 7.3% after Aviva (Britain's 2nd biggest insurer by market value) plans to sell 15% stake in Dutch company Banca Monte Paschi plans to pay C2B in dividends over next five years following approval of rights offering to boost capital Allied Irish Banks (93% gov't owned) to eliminate more than 2k jobs after posting record $15B net loss last year (trading -11%) Japan's Eco Minister Yosano forecast country's March 11th earthquake to impact economy greater than previous estimates Hong Kong banks given until end of month to submit funding strategies amid concern "rapid" credit growth to curb liquidity China tightening may ease if nation reports more trade deficits or small monthly surpluses - China Securities Journal (front page) EFTA00435764 Indonesia left rates unchanged (2nd consecutive month) after inflation slowed saying rupiah's gains will contain price pressures MCRL guides Ql down - PFG acquires HSBC AFORE - EXTR guides Q3 revs lower GIL acquires Gold Toe Moretz - CDTI convert note financing - PG raises dividend TITN names cfo - HPY announces cfo - KITD acquisition MIRK fda approval - HON accounting change - ONB to acquire IBNK TEVA announces positive phase 3 results - INXI delays Q4 results - GMXR expands board SLW names ceo - AMZN announces new Kindle - SKH exploring strategic alternatives Secondaries (announced/priced): CIE, PPL, NPSP, SB, ECT, WG IPO's (filed/priced): Brainsway (BRIM) files $30M through Roth Cap, Putnam Mortgage Opportunities (PMOC) files $300M through Barclays, Chef's Warehouse (CHEF) files $100M through Jefferies IPO's (lock-up expires): Campus Crest Communities (CCG) Key Research: Soleil reduces KFT estimates, Sterne Agee initiates DDS (buy), Madison Williams downgrades FST/IOC Key Research: Wells initiates R (op) & raises DE estimates, Jefferies downgrades WMS & initiates ITYBY/REMYF (hold) & BTI/DEO (buy) Key Research: Roth initiates ONCC (buy), Piper initiates AVII (ow), SocGen initiates UK Food & Staples Retailers (uw) Key Research: BMO downgrades AA, JMP downgrades AMMD & initiates BX (op), UBS downgrades ELN & upgrades LVLT Key Research: Barcap initiates US retail softlines industry (ew) & TDSC (ew), DB initiates WES (buy), GS downgrade TX Key Research: MS downgrades FTE & initiates lodging sector (favorable view), Bofa reinstates CMA/FITB/RF/KEY/MTB Key Research: JPM lowers targets BYI/IGT/WMS, Baird initiates QLIK Reporting Pre-Open: FAST, AIB, CAGC Reporting Post-Close: ADTN, HOFT, MG, STRM Economic Data: NFIB Small Business Optimism @ 7:30am, ICSC-Goldman Chain Store @ 7:45am, Import Price Index / Trade Balance @ 8:30am, Redbook Chain Store @ 8:55am, IBD/TIPP Economic Optimism @ 10am, Treasury Budget @ 2pm Treasury Auction of 3-yr notes @ 1pm ($32B), API crude oil inventories @ 4:30pm Fed's Hoenig speaks on "Too Big to Fail" @ 9:15am, Fed's Fisher moderates panel in Dallas on growth @ 2:45pm Conferences: CS Global Real Estate (London), IPAA Oil & Gas Symposia (NYC) Analyst/Investor Days: QDEL, SUPG, TAT Non-Deal Roadshows: AEM, AKR, AMAT, ARCC, ATML, BKH, BMR, CBRX, CEPH, CHK, CTE, EPM, FDO, GDP, GIS, GOV, GPN, HIBB, HITK, HNR, HNZ, HWCC, INSM, KFY, KRA, LMIA, LNG, LTD, LXP, LXU, MINI, MSA, NLSN, NTSP, PANL, PRA, SCG, SGMO, TDS, TK, TPCG, TRGT, QCOR Shareholder Meetings: EHP, BKSC, AHS, BRCD Equity/Mixed Shelf s: N/A Other Newspaper Articles & Stories Barron's positive: Tyco (TYC) WSJ negative: ITT Educational (ITT) Glencore to seek $9-$11 billion from ipo in London and Hong Kong (to announce price range May 4th) - Bloomberg EFTA00435765 NXP Semiconductor weighs stock sale to broaden investor base - Bloomberg China may reduce net coal imports as global prices surge - Bloomberg Li Ka-shing's Hui Xian Reit IPO received full commitment on shares offered yesterday (sale began yesterday) - Bloomberg Principal to purchase HSBC Pension unit to expand in Mexico - Bloomberg Intel said to design mobile phone for ZTE for sale in China - Bloomberg RTL Group interested in Belgium ProSieben Assets - Sources Hoping to cut costs, Hanesbrands looks to substitute flax for cotton in its products - WSJ Bank of America internal auditors looking into bank's consultations with top executives - WSJ Justice Department, FTC taking each other on in takeover battles - WSJ Superman flies first yuan IPO into Hong Kong - WSJ Heard on the Street Hard knocks in store for ITT investors - WSJ Heard on the Street Dot-coms begin to blossom in India - WSJ Justice Department investigation of Medtronic's marketing of Infuse "is apparently widening" - NYT GOP plan for Medicare could shape 2012 races - NYT British bank panel suggests changes to limit risk - NYT DealBook Banco do Brasil in advanced talks to buy Eurobank for undisclosed amount - FT Nokia sees more losses in smartphone market share - FT Igor Sechin resigns as chairman of Rosneft - FT Ford says Asia-Pacific operations may have to stop production - AP Citi to sell EMI as a whole, not in pieces - NY Post Office of the Superintendent of Financial Institutions investigating savings product sold by BMO Financial - Globe and Mail TimberWest seeks bids that will better its C$1B offer from two pension funds - Globe and Mail Hulu changed people much faster than its founders anticipated - LA Times Google lied about certification, Microsoft says - Seattle Times reports Mayor Dave Bing to propose raising Detroit casino tax by up to 3 percentage points - Detroit News Iliad asks the French government to postpone 4G attributions planned for May -- Les Echos American Eagle may hire David McCreight as CEO - Women's Wear Daily Diageo "turning acquisitive" in India - Times of India EFTA00435766 Huawei to compete for 4G projects in US - South China Morning Post Key Events This Week Wednesday: Obama addresses nation on Budget, Retails Sales, Fed Beige Book, Business Inventories, Earnings (JPM) Thursday: PPI, China Industrial Production/CPI/PPI/Retail Sales/GDP, Earnings (CHKP, HAS, PGR, SW, GOOG) Friday: CPI, Empire Manufacturing, Industrial Production, Michigan Confidence, Japan Industrial Production, Earnings (BAC, GPC, INFY, MAT) 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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