A recent Bank of America Corp (NYSE:
BAC)/Merrill Lynch report titled "Occupy Silicon Valley"
shows that tech firms Apple Inc. (NASDAQ:
AAPL) and Alphabet Inc (NASDAQ:
GOOG) (NASDAQ:
GOOGL) valuations are higher than the GDP of every U.S. city
besides Los Angeles and New York, and Apple is quickly gaining on
L.A:
Link
As its new chief executive steers Ford Motor
Company (NYSE:
F) into the world of autonomous vehicles, the beaten down
stock should race higher, according to the latest Barron's cover
story. CEO Jim Hackett seems to be an inspired choice to rev up the
104-year-old company's self-driving car efforts:
Link
It's easy for the average American to dismiss the impact of the
nation's opioid abuse epidemic. However, heroin and prescription
opioid painkiller addiction may be costing Americans much more than
they realize:
Link
A wealthy slice of Gen Xers and older millennials share
surprisingly similar banking practices, a new study showed:
Link
While United Continental Holdings Inc (NYSE:
UAL)'s "re-accommodation" — the passenger removal disaster —
dominated headlines last month, low-cost carrier Spirit
Airlines Incorporation (NASDAQ:
SAVE) had a disaster of its own: a pilot shortage that ended
up in an airport melee at the Fort Lauderdale, Florida,
airport.:
Link
THE WALL STREET JOURNAL
There's a magic line in banking, and it is $50 billion. That is
the boundary that separates the big banks from the small. Firms
with assets in excess of that figure face stricter rules on
capital, mergers and other business, thanks to the Dodd-Frank
Act:
Link
Two former Theranos Inc. directors said they didn't follow up on
public allegations that the Silicon Valley blood-testing firm was
relying on standard technology rather than its much-hyped
proprietary device for most tests, according to newly released
court documents:
Link
Carole Siesser, a retiree in Delray Beach, Fla., started taking
a bone-growth drug made by Eli Lilly & Co. (NYSE:
LLY) after she fell and fractured her spine. After two
years, the medicine helped to heal her back. It also cost her
$5,600 of her own money to help cover the roughly $26,000 annual
price, even though she has Medicare:
Link
The boldest ideas for changing the nation's tax code are either
dead or on political life support, as the Republican effort in
Congress to reshape the tax system moves much more slowly than
lawmakers and their allies in business had hoped:
Link
REUTERS
As Novartis AG (ADR) (NYSE:
NVS) considers asset sales that could raise $50 billion,
investors are worried any cash raised may give the Swiss drugmaker
firepower for another unsuccessful megadeal:
Link
Confusion surrounding the trade policies of U.S. President
Donald Trump's administration means U.S. companies no longer know
the rules of the game, a board member and former CEO of
toymaker Hasbro, Inc. (NASDAQ:
HAS) told an international conference on Monday:
Link
Oil prices fell on Tuesday, pressured by concerns that
production cuts by the world's big exporters may not be enough to
drain a global glut that has depressed the market for almost three
years:
Link
BLOOMBERG
Almost a decade after a crisis that nearly brought down the
global financial system, markets still aren't showing much
confidence in banks. It's a troubling phenomenon that U.S. and
European leaders ignore at their peril:
Link
Noble Group Ltd. is seeking a strategic investor to drag the
beleaguered commodities trader out of what it calls an "incredibly
difficult environment.":
Link
Four months into Donald Trump's presidency, the sky has not
fallen in on the system of global governance the U.S. did so much
to construct since World War II. It is, however, in deep
trouble:
Link
The most common reaction to the austere budget released by the
Trump administration on May 23 is that it can't possibly get past
Congress. President Donald Trump himself may be fine with that. In
its current form, his budget looks more like a sop to the far-right
wing of the Republican Party — cheap currency to buy the goodwill
of a crucial part of his base:
Link
NY POST
Cerberus Capital-controlled Albertsons, America's second-largest
grocery chain, had approached Sprouts Farmers Market
Inc (NASDAQ:
SFM) months ago, but Sprouts is now trading at too high a
multiple for a transaction to happen, two sources close to the
situation said:
Link
ECONOMIC FIGURES
08:30 a.m. Personal Income (MoM)
08:30 a.m. Core PCE Price Index (MoM)
08:30 a.m. Real Personal Consumption (MoM)
08:30 a.m. Core PCE Price Index (YoY)
08:30 a.m. Personal Spending (MoM)
08:55 a.m. Redbook (YoY)
08:55 a.m. Redbook (MoM)
09:00 a.m. Dallas Fed PCE
10:00 a.m. Conference Board Consumer Confidence
10:30 a.m. Dallas Fed Manufacturing Business Index
10:30 a.m. Dallas Fed Manufacturing Business Index
In The News
Posted by steve on 30th of May 2017 at 08:43 am
BENZINGA
A recent Bank of America Corp (NYSE: BAC)/Merrill Lynch report titled "Occupy Silicon Valley" shows that tech firms Apple Inc. (NASDAQ: AAPL) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) valuations are higher than the GDP of every U.S. city besides Los Angeles and New York, and Apple is quickly gaining on L.A: Link
As its new chief executive steers Ford Motor Company (NYSE: F) into the world of autonomous vehicles, the beaten down stock should race higher, according to the latest Barron's cover story. CEO Jim Hackett seems to be an inspired choice to rev up the 104-year-old company's self-driving car efforts: Link
It's easy for the average American to dismiss the impact of the nation's opioid abuse epidemic. However, heroin and prescription opioid painkiller addiction may be costing Americans much more than they realize: Link
A wealthy slice of Gen Xers and older millennials share surprisingly similar banking practices, a new study showed: Link
While United Continental Holdings Inc (NYSE: UAL)'s "re-accommodation" — the passenger removal disaster — dominated headlines last month, low-cost carrier Spirit Airlines Incorporation (NASDAQ: SAVE) had a disaster of its own: a pilot shortage that ended up in an airport melee at the Fort Lauderdale, Florida, airport.: Link
THE WALL STREET JOURNAL
There's a magic line in banking, and it is $50 billion. That is the boundary that separates the big banks from the small. Firms with assets in excess of that figure face stricter rules on capital, mergers and other business, thanks to the Dodd-Frank Act: Link
Two former Theranos Inc. directors said they didn't follow up on public allegations that the Silicon Valley blood-testing firm was relying on standard technology rather than its much-hyped proprietary device for most tests, according to newly released court documents: Link
Carole Siesser, a retiree in Delray Beach, Fla., started taking a bone-growth drug made by Eli Lilly & Co. (NYSE: LLY) after she fell and fractured her spine. After two years, the medicine helped to heal her back. It also cost her $5,600 of her own money to help cover the roughly $26,000 annual price, even though she has Medicare: Link
The boldest ideas for changing the nation's tax code are either dead or on political life support, as the Republican effort in Congress to reshape the tax system moves much more slowly than lawmakers and their allies in business had hoped: Link
REUTERS
As Novartis AG (ADR) (NYSE: NVS) considers asset sales that could raise $50 billion, investors are worried any cash raised may give the Swiss drugmaker firepower for another unsuccessful megadeal: Link
Confusion surrounding the trade policies of U.S. President Donald Trump's administration means U.S. companies no longer know the rules of the game, a board member and former CEO of toymaker Hasbro, Inc. (NASDAQ: HAS) told an international conference on Monday: Link
Oil prices fell on Tuesday, pressured by concerns that production cuts by the world's big exporters may not be enough to drain a global glut that has depressed the market for almost three years: Link
BLOOMBERG
Almost a decade after a crisis that nearly brought down the global financial system, markets still aren't showing much confidence in banks. It's a troubling phenomenon that U.S. and European leaders ignore at their peril: Link
Noble Group Ltd. is seeking a strategic investor to drag the beleaguered commodities trader out of what it calls an "incredibly difficult environment.": Link
Four months into Donald Trump's presidency, the sky has not fallen in on the system of global governance the U.S. did so much to construct since World War II. It is, however, in deep trouble: Link
The most common reaction to the austere budget released by the Trump administration on May 23 is that it can't possibly get past Congress. President Donald Trump himself may be fine with that. In its current form, his budget looks more like a sop to the far-right wing of the Republican Party — cheap currency to buy the goodwill of a crucial part of his base: Link
NY POST
Cerberus Capital-controlled Albertsons, America's second-largest grocery chain, had approached Sprouts Farmers Market Inc (NASDAQ: SFM) months ago, but Sprouts is now trading at too high a multiple for a transaction to happen, two sources close to the situation said: Link
ECONOMIC FIGURES
Analyst & Shareholder Meetings
UPGRADES
JP Morgan Upgraded Teck Resources Ltd (USA) (NYSE: TECK) from Neutral to Overweight.
Stifel Upgraded Hub Group Inc (NASDAQ: HUBG) from Hold to Buy.
Barclays Upgraded Symantec Corporation (NASDAQ: SYMC) From Equal-Weight to Overweight.
DOWNGRADES
Wedbush Downgraded Buffalo Wild Wings (NASDAQ: BWLD) from Neutral to Underperform.
Mizuho Downgraded Macerich Co (NYSE: MAC) from Buy to Neutral.
Goldman Sachs Downgraded Whiting Petroleum Corp (NYSE: WLL) From Neutral to Sell.
Steve, thanks for posting the
Posted by puma on 30th of May 2017 at 10:39 am
Steve, thanks for posting the news summary.