Friday, May 14, 2010

Catalysts to Watch;Spanish and Greek Strikes; Swaps vote

Catalysts to Watch

· New exchange rules to be published soon – individual stock circuit breakers; breaking stock rules; the announcement is expected to hit on Mon May 17 (CNBC)   

· Swaps vote – the Lincoln provision that would force banks to spin off their swaps desks hasn’t been introduced as an amendment to the Dodd bill yet and it probably won’t until after Sen Lincoln’s primary on May 18.  “Senator Lincoln’s got a primary on Tuesday, and so I think some of these things will have to wait until after that’s resolved,”   Bloomberg 

· Greece is due to pay EUR8.5 billion to investors May 19.  Portugal has to pay EUR4.402 billion May 20 (DJ)

· Greek workers have called a 24-hour general strike for May 20 (the strike was expected to take place on May 19 but workers didn't want to disrupt national university entry tests)  

· Spain Strikes set – a Spanish union has called for a strike of public sector workers for June 2; the branch of the UGT union representing the public sector also called for mass demonstrations on May 20.  DJ

· ECB - will explain this week how it plans to sterilize its government bond purchases, Executive Board member Jose Manuel Gonzalez-Paramo said; Trichet is likely to say he will use time deposits to sterilize.  Bloomberg

Corporate Events Calendar

· Fri Mar 14: earnings before the open (JCP).  analyst meetings (ISIL)

· Mon May 17: earnings before the open (VAL, General Motors, LOW).  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)

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