Wednesday, May 5, 2010

Catalysts to Watch Germany/Greece · Gulf of Mexico

Catalysts to Watch

· JPMorgan conf call coming up on Greece – Wed 9amET - Conference call: Insights from J.P.Morgan Research Trips to Athens, Berlin and Brussels.  conference call with Michael Marrese (Chief Economist and Strategist, CEEMEA region), Marta Bastoni (Euro area Economist) and Paul Formanko (Head of CEEMEA Banks research).  Michael, Paul and Marta have just returned from an extensive research trip to Athens, Berlin and Brussels. 

· Gulf of Mexico - BP hopes to install a 70-ton dome that will funnel the oil up to a drilling rig. The containment dome is scheduled to leave an engineering yard in Port Fourchon, La., at noon Wednesday; the dome could be lowered as soon as Thurs (WSJ) 

· Germany/Greece - The lower and upper houses of the German parliament are expected to vote on the Greece bailout on Friday. (Reuters) 

· IMF says its board to convene on May 9 to consider Greek aid request

· Financial Crisis Inquiry Commission – hearings scheduled for Wed May 5 and Thurs May 6.  On May 5, former execs at Bear Stearns will be speaking (inc. Cayne, Schwartz, Spector, Molinaro, Friedman).  On Thurs May 6, we will hear from former TSY Sec Paulson and current TSY Sec Geithner.  Also on Thurs, we will hear from several execs at GE Capital.

· Elections - The big UK election takes place on May 6 (an important German election is due May 9). 

· GS is going to be holding its shareholder meeting on Fri. 

· Treasuries – on May 5, the Treasury is due to unveil the size of the next coupon auctions.  The next coupon auctions will take place: Tues May 11 (3yrs), Wed May 12 (10s), Thurs May 13 (30s).

Economics Calendar – daily view

· Wednesday, May. 5th: US (MBA Mortgage Applications, ISM Non-Manufacturing, ADP Employment Change, Challenger Job Cuts). 

· Thursday, May. 6th: US (Jobless Claims, Non-Farm Productivity, Retail Sales); Eurozone (UK Services PMI, German Factory Orders, ECB Interest Rate Decisions); Other (Australia Trade Balance, Swiss PMI, Canada PMI).

· Friday, May. 7th: US (Monthly non-farm payrolls, Unemployment rate, consumer credit); Eurozone (UK PPI, German IP); Other (Swiss Unemployment Rate, Canada Unemployment Rate, Reserve Bank of Australia Quarterly Monetary Policy Statement).

Corporate Events Calendar – Week Mon May 3

· Wed May 5: earnings before the open (SocGen, BUD, Sage Group, GRMN, TWX, BBX, PQ, KIM, IT, VSH, AYE, ICE, ID, CTL, WIN, KG, CTB, Unibanco, SPW, Q, TRW, CHK).  Earnings after the close (QSFT, MCHP, CBS, SYMC, PL, BMC, HAIN, VALE, SLF, TS, RIG, CNW, JDSU, MUR, THQI, ONNN, PRA, PRU, GDP, UNTD, BBBB, CECO, EXPD, ADCT, CLWR, PRI).  Analyst meetings (NKE, IHS, ERIC)

· Thurs May 6: earnings before the open (Swiss Re, PCP, SNI, TDC, LAMR, GLG, ATK, RYN, MGM, PCS, DPS, TKLC, CBB, FIG, THS, KLIC, ARG, SLE, PPL, CMA, ARIA, SMA, OCR, OMG, H, FUN, LVLT, DTV, BCE, MFC, BNP Paribas, ALU, Cap Gemini, Commerzbank, CI, INCY, CCOI).  Earnings after the close (AZPN, SAPE, MAA, HLIT, RNWK, NVTL, ATVI, LEAP, STEC, ROVI).  Sales (retailers will be reporting sales for the month of Apr before the market opens).  Analyst meetings (ERIC, RAX, SNX, GENZ)

· Fri May 7: earnings before the open (RBS, POM, HUN, EIX, ARNA, LINTA, LBTYA, BECN, CF, MIR, GFI, HSBC).  Analyst meetings (NUVA, MSPD, D) 

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