Monday, May 17, 2010

Catalysts to Watch; Corporate Events Calendar To Watch

Catalysts to Watch

· Tech - the JPMorgan Tech conf runs Mon-Wed in Boston   

· For retail, there will be a bunch of important earnings releases (inc. TGT, WMT, and others). 

· Away from earnings, The Electrical Products Group (EPG) Conference runs next Mon-Wed (5/17-19) and is the venue for mid-quarter updates from most of the major industrials. 

· Out of Washington, Sen Reid apparently wants to end debate on the Dodd bill as early as this Mon, although the GOP has said it wants more time; there are a few more important amendments that need votes. 

· There will be hearings on the Gulf of Mexico oil spill on Wed and on the May 6 market plunge on Thurs. 

· In Europe, Greece has a bond payment due May 19 and Portugal has one on May 20. 

· Spain bond auction – will sell up to EU7.5B of bills on May 18; will sell up to EU3.5B in 4% ’20 bonds on May 20.  Bloomberg 

· Greece – there are planned strikes in Greece

· ECB said it will absorb 16.5 billion euros from the money markets to sterilize bond purchases settled up to May 14.  The ECB said it will launch a quick tender on May 18 to collect one-week term deposits. The variable-rate tender will have a maximum bid rate of 1 percent.  Bloomberg 

· The ECB should on Tuesday give the first official indications of how much it has purchased under its newly launched Securities Markets Program (SMP), which is understood to be primarily focused on government debt, but can also take in private debt securities such as covered bonds (FT) 

· Europe to rollout new 5-year telecoms plan on Wed – NYT 

Economics Calendar – daily view

· Tuesday, May 18th: US (PPI, Housing Starts, Building Permits, ABC Consumer Confidence); Eurozone (UK CPI, German ZEW, Eurozone CPI, ZEW); Other (Japan Consumer Confidence).

· Wednesday, May 19th: US (MBA Mortgage Applications, CPI, FOMC Meeting Minutes); Eurozone (BoE Meeting Minutes, Eurozone Construction Output); Other (Australia Westpac Consumer Confidence, Japan IP, GDP).

· Thursday, May 20th: US (Jobless Claims, Leading Indicators, Philadelphia Fed); Eurozone (UK Retail Sales, Eurozone Consumer Confidence); Other (Swiss ZEW).

· Friday, May 21st: US (n/a); Eurozone (German GDP, IFO, Eurozone Current Accounts); Other (BoJ Meeting & Interest Rate Decision, Canada CPI, Retail Sales).

Corporate Events Calendar To Watch

· Mon May 17: Earnings after the close (SINA, A).  Analyst meeting (TSS, CA)

· Tues May 18: earnings before the open (VOD, DKS, KIRK, TJX, SKS, HD, WMT, ANF); earnings after the close (WSTL, HPQ, ADI, IMOS, GRRF, PLAB).  Analyst meetings (ALB, RHB, NLC, WTM, CAH, HCP, GLRE, AFL)

· Wed May 19: earnings before the open (CHS, HRL, BRC, CTRN, TGT, DE, BJ, EV).  Earnings after the close (OPXT, AMAT, ADSK, ARUN, NTES, BRS, HOTT, PETM, SNPS, LTD, GYMB, AAP).  Analyst meetings (ARMH, AFL, OXY, SYK, POT, AMCC) 

· Thurs May 20: earnings before the open (GME, TDW, BKE, SPLS, WSM, MF, CSC, ROST); earnings after the close (CPWR, FL, INTU, ARO, MRVL, CRM, WTSLA, ZUMZ, FMCN, VRGY, PSUN, RRGB); analyst meetings (GG, FSR, BA, TRV)

· Fri May 21: earnings before the open (FRO, London Stock Exchange, TECD).  Mid-Q updates (LSTR) 

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