EFTA00436427.pdf

From: Ike Groff <Ma Subject: early tour 3.30.11 Date: Wed, 30 Mar 2011 10:41:44 +0000 Good Morning ... European Markets up 45-150 bps (DAX +1.47%, financials underperforming again)... Nikkei Closed +2.64% (Hang Seng +1.7%, China -8 bps) EUR 1.4060 (-0.38%) JPY 83.14 (-0.80%) (G7 intervening again?) AUD 1.0301 (+0.09%) Nat Gas +75 bps Silver +1.09% Futures: Dow +50, Nasdaq +15, III +6 $1419.60 (+$2.10) DXY $76.33 (+15c) Crude $104.26 (-52c) Gold ***ADP Employment Change @ 8:15am*** ***Irish stress test results due out tomorrow @ 4:30 pm local time*** ***FDO reports pre-open, MOS reports after close*** premium) Valeant Pharma makes hostile bid to acquire Cephalon for $5.7B ($73/shr = 24% Portuguese five-year note yield rises above 9.0% for the first time in the Euro era Irish stress test results may leave government in control of all country's banks (Bloomberg) Bullish sentiment increases to 51.6% from 50.6% in the latest US Investor's Intelligence poll bid range BlackRock will replace Genzyme in the III 500 after the close of trading on April 1 House votes to stop any new funding to Obama's Home Affordable Modification Program Lundin Mining ends Inmet deal and adopts "poison pill" defense to thwart Equinox Leon Black's Apollo raises $565.4 million after IPO priced at the top end of the Consumer confidence in the Euro region decline more than economists forecast on Japan/energy Sonova executives resign after insider trading probe (trading -7.5%) (-30% in the past month) III cuts Nokia credit rating one level to A- from A with a stable outlook (trading -24 bps) ICBC beats estimates as margins widen and lending grows (BOCOM beats as well) CIC (China sovereign wealth fund) returned as much as +40% in U.S. real estate in 2010 China Cosco forecasts a 32% drop in dry-bulk traffic this year on global overcapacity billion charge) Tullow Oil sells stakes in Ugandan exploration blocks to Total & CNOOC for $2.9 Tepco president admitted to hospital for high blood pressure (chairman takes EFTA00436427 Tepco's reactors may take 30 years and more than $12 billion to scrap says engineers Hitachi's main plant will resume full operation next month says Nikkei newspaper KEC International to acquire water treatment company in India to gain from shortage Thailand floods see 20k tons of rubber lost over last 7 days (rubber currently +4.0%) Sri Lanka's economic growth quickens to three-decade high (26yr civil war ended in May 2009) Syrian President Bashar al-Assad to address the nation (may rescind emergency law) Libyan rebels forced into retreat near Sirte (Obama does not rule out arming rebels) The U.S. has spent close to $600 million so far on military ops to protect civilians in Libya ZOOM record qtr but lowers rev guidance - ZZ A's light - OXM penny better, div increase ALGN acquires Cadent (private) $190M - IG registers shares - Moody's d/g HRZ credit ALXN stock split - JOSB earnings better - JBLU landmark 8yr extension with Boston Red Sox UTA postpones earnings call - TIBX smallest earnings beat in 3 yrs - SD registers shares holders GGP qtrly 10c dividend - SWFT guides Ql eps lower - S92.GR doubles 2010 profit Secondaries (announced/priced): XBKS, KRA (holders), VVTV, GBX (convert) IPO's (lockup expires): CCIH, KEYW IPO's (priced): Qihoo 360 (QIHU) 12.1M shares priced at $14.50, Apollo Global Management (APO) 29.758M shares priced at $19.00 IPO's (filed): Insys Therapeutics (INRX) files $55M through Wells & JMP Key Research: Wells initiates BRKR/GEOI (op's) & WAT (mp), Moke initiates CTXS (op), Soleil initiates HCA (buy) Key Research: Baird upgrades STON, JMP initiates CWT (op) & downgrades RURL, FBR reiterates IFT (op) & positive NUAN Key Research: Bofa downgrades PHG/ITW & upgrades TIBX, Citi downgrades GCI & adds BLK to top picks live Key Research: BNP upgrades CON.GR, GS downgrades KSS & reduces target SWM & adds PM to conviction buy list Key Research: MF Global downgrades SBRY.LN & upgrades MRW.LN/TSCO.LN & initiates Euro retail, HSBC upgrades RR.LN Key Research: MS upgrades and JMP downgrades CEPH, SocGen initiates ABG.LN (buy) & RRS.LN (sell), Janney upgrades PEET Key Research: Stifel reiterates SINA (buy), Ticonderoga downgrades LEN, William Blair reiterates ZUMZ (op), Needham downgrades DELL Reporting Pre-Open: FDO, AYI, DIGA, GU, JOSS, LACO, LNN, SIG, UNF Reporting Post-Close: DIET, DRJ, DRYS, ES, FCE.A, INV, MOS Economic Data: MBA Mortgage Applications @ 7am, Challenger Job Cuts @ 7:30am, ADP Employment Change @ 8:15am, DOE Crude Inventories @ 10:30am Treasury Auction of 7-yr notes @ 1pm ($29B) Fed's Hoenig speaks in London @ 1:30pm, Fed's Lacker testifies at Dodd-Frank hearing @ 2pm, Fed's Bullard speaks on monetary policy before the UBS Macro Dinner in London @ 4pm Conferences: Howard Weil Energy Conference (New Orleans), JPM Protein Conference (NYC), DB EFTA00436428 Pan European Small & Mid Cap (London) Analyst/Investor Days: NSP Non-Deal Roadshows: ACHN, ADES, AEC, ANN, APH, BELFB, CMO, CNO, CR, CRDN, ECYT, EGO, EMCI, EPM, EXR, FXEN, JLL, LQDT, MCHX, NGS, NNBR, NYMT, PAL, PCTI, SUSQ, SWM, TRAK, KAMN, KERX Shareholder Meetings: GY, MKC, AMN, GMTI Equity/Mixed Shelfs: WNC III 500 change (after close Apr-1): BlackRock (BLK) to replace Genzyme (GENE) Other Newspaper Articles & Stories Barron's positive: Rubicon Technology (RBCN) Microsoft is said to plan mobile payments feature in next windows phone - Bloomberg Ex-Galleon employee Smith tells jurors firm used insider tips for "edge" - Bloomberg Stanford admits 7.1% of freshman applicants in most competitive year ever - Bloomberg Sirius radio antitrust lawsuit over merger may go forward, U.S. judge says - Bloomberg Giambi brothers tell jurors that Barry Bonds' trainer gave them steroids - Bloomberg CNOOC acquires exploration interest in Uganda for $1.467B - Bloomberg Verizon first service provider to announce 100G deployment on US Network - Bloomberg WSJ discusses First Solar Chairman's share sales State tax revenue snaps back - WSJ Why I won't vote to raise the debt limit - Opinion Rubio WSJ Trump son-in-law strives to keep building - WSJ CMBS industry ready to exhale - WSJ For RIM, less research could mean more motion - WSJ heard on the street A 20% down payment doesn't cure housing - WSJ heard on the street Will Barclays turn its back on Britain - WSJ heard on the street Foreclosure Aid Fell Short, and Is Fading - NYT Budget fight faces hurdle beyond price tag - NYT Where the Bailout went wrong - Op-Ed Barofsky NYT As Economy sputters, a timid Fed - NYT economic scene As regulators weigh AT&T bid, a look at wireless markets abroad - NYT In Congress, Bills to speed unwinding of 2 Giants - NYT EFTA00436429 * NY Post * LA Times NYT looks at Aldi's progress getting into New York Senate may put brakes on 'swipe' fee cuts - NY Post New York Mets ask for initial bids for minority stake in team by early next week Movie industry hits ticket sales decline on the nose: It's put out some stinkers * Greenspan criticizes Dodd-Frank reforms (Dodd-Frank fails to meet test of our times) - Opinion Alan Greenspan FT * HSBC's Flint urges regulators for "systemic" list of banks - FT * Times Indian outsourcers facing new lawsuit barriers in hiring talent in US - Economic Key Events This Week Thursday: Month End, Chicago PMI, Factory Orders, Irish Stress Tests Results, China PMI Manufacturing Friday: March Employment Report, Vehicle Sales, Construction Spending, ISM Manufacturing fi Prices Paid 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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