Thursday, June 17, 2010
Bernstein CIO Survey
From the meeting today, here is Bernstein's survey of CIO's that Margery referenced.
Wednesday, June 16, 2010
Fedex - uh oh
FedEx reported a stronger-than-forecast profit jump for the fiscal fourth quarter, but delivered weaker-than-anticipated current year guidance, citing pensions, health care and maintenance. Shares of the the package-shipping giant, considered a global economic bellwether because of the breadth of goods it ships, fell 2.6% in premarket trading.
German FIT outlook for Solar by Collin Stewart - CdeR
Collins Stewart outlook on FITs.
The Conciliation Committee between the upper (Bundesrat) and lower
(Bundestag) of the Germany government will meet today in an attempt to
agree on a unified plan for the reduction of the German Feed In Tariff
(FIT). The two Houses of the Government will meet because they
disagree on how large the special, one-time July 1 reduction to the
German FIT should be. In May, the lower house (the more powerful of
the two) passed legislation calling for a 16% reduction to the
roof-top FIT and a 15% cut to the FIT for ground based systems, with
provisions eliminating the FIT for systems built on farmland and just
an 11% cut for systems built on contaminated land. That plan had the
backing of Chancellor Merkel, the environmental minister and the
ruling coalition, and is the pace of FIT reduction is assumed in our
company forecasts.....see link for details.
The Conciliation Committee between the upper (Bundesrat) and lower
(Bundestag) of the Germany government will meet today in an attempt to
agree on a unified plan for the reduction of the German Feed In Tariff
(FIT). The two Houses of the Government will meet because they
disagree on how large the special, one-time July 1 reduction to the
German FIT should be. In May, the lower house (the more powerful of
the two) passed legislation calling for a 16% reduction to the
roof-top FIT and a 15% cut to the FIT for ground based systems, with
provisions eliminating the FIT for systems built on farmland and just
an 11% cut for systems built on contaminated land. That plan had the
backing of Chancellor Merkel, the environmental minister and the
ruling coalition, and is the pace of FIT reduction is assumed in our
company forecasts.....see link for details.
Wednesday, June 9, 2010
Friday, June 4, 2010
Link for 9 am Monday call on Zulauf - CdeR
It is about 15 minutes, and worth listening to prior to the meeting.
JPMorgan Call Recap - CdeR
- Economic strength broadening, despite the NFP we saw today.
- Risks to the forecast skewed to the upside.
- Capex growing, companies becoming more confident.
- Has yet to translate into robust hiring (duh).
- +3-4% growth forecast becoming more dependent upon the consumer.
- Wouldn't call 3% "glowing health".
- Inventories at record low for cycle, restocking effect will help.
- Savings rate sideways, after moving up to 3%, will possibly drop as consumer gets in the game.
- WOULDNT TALK ABOUT GOVT FINANCES ON THIS CALL. (different subject!)
- Low inflation could become a real problem if growth is 2% or less. Fed has limited tools to deal with the growth shortfalls. (what about QE? - CdeR)
- We have moved away from pessimism, but not yet at an optimism type of level.
Concerns:
- China
- Europe
- US deficits
JPMorgan Econ Call - CdeR
U.S. Economic Outlook on Friday, June 4, 2010, at 10:00am ET/ 15:00 UK, Hosted by: Bruce Kasman (J.P. Morgan Chief Economist), Dial in: 888-793-8857 (US); +1-773-681-5987 (outside US); Passcode: 6909591, Replay through 6/12: 888-458-8113 (US); +1-402-998-1351 (outside US); Passcode: 6909591 (PODCAST AVAILABLE)
Subscribe to:
Posts (Atom)