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  • Today - Wednesday, January 28, 2015

  • 3:44 PM
     
    • Yannis Stournaras only became the head of the Bank of Greece last summer, amid a broad cabinet reshuffle by then-Prime Minister Samaras. Prior to that role, he was finance minister, which means he was essentially in charge of the austerity drive which the Greek electorate finally rebelled against over the weekend.
    • Given that context, reports that the new government is pressuring him to go shouldn't be a huge surprise.
    • Previously: Bank of Greece Governor forced out? (Jan. 28)
    | Comment!
  • 3:27 PM
    | 11 Comments
  • 2:29 PM
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  • 11:34 AM
    • Carlsberg (OTCPK:CABGY) disclosed it froze hiring and salary increases due to the ongoing problems with the brewer's business in Russia.
    • A pressured Russian economy has impacted beer volume by about 7% over a 9-month period.
    | Comment!
  • 9:54 AM
    • Nissan (OTCPK:NSANY) recalls 768K vehicles in separate actions.
    • The recalls cover SUVs and crossovers which in the past have been segments more damaging to automakers on brand reputation.
    • Recall #1: 215,789 Pathfinders SUVs from model years 2013-2014 due to a problem with secondary hood latches. (NHTSA notice)
    • Recall #2: 552,125 Rogue vehicles from model years 2008 to 2013 to address an issue with a mositure leak. (NHTSA notice)
    | Comment!
  • 9:04 AM
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  • 8:32 AM
    • Adidas (OTCQX:ADDYY) CEO Herbert Hainer says he has no intention to step down from his position, despite some self-admitted mistakes made by the company under his tenure.
    • A big bet on golf last year didn't pay off for Adidas as global demand in the sport tightened.
    • The executive is under contract with Adidas until 2017.
    | Comment!
  • 8:20 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) reports global shipments rose 3.8% Y/Y to 1.17M units in Q4.
    • The automaker improved EBITDA by 39% during the quarter. The EPS mark missed analyst estimates slightly.
    • The biggest gains were struck by the automaker in the North American region.
    • 2015 guidance: Worldwide shipments of 4.8M-5.0M expected.
    • Previously: Fiat Chrysler reports Q4 earnings
    • FCAU -1.1% premarket.
    | Comment!
  • 7:17 AM
    • Stocks in Athens are off another 6.2% today, extending their losses to 13% in the three sessions following the coming to power of the anti-bailout Syriza party.
    • The yield on the country's 3-year note is higher by 276 basis points today to 16.78% vs. 10.08% before Sunday's election.
    • Adding a cute foreign policy angle to events, the new government questioned the West's move to impose more sanctions on Russia.
    • GREK -6.8%, NBG -23% premarket
    • Previously: Greek shares drop on privatization freeze (Jan. 28)
    | 9 Comments
  • 6:00 AM
     
    • Japan +0.15%
    • Hong Kong +0.22%.
    • China -1.41%.
    • India -0.04%
    • London -0.32%.
    • Paris -0.64%.
    • Frankfurt -0.87%.
    | Comment!
  • 5:01 AM
    • In addition to plunging Greek bank shares, Greek utility PPC and Greece's biggest port, Piraeus Port Authority led the Athens' ATG stock index down 4.4% today, after the new Syriza government said it would freeze its privatization plans.
    • The newly elected government also denounced a European Council statement in which European leaders blamed Russia for the escalating violence in Ukraine and raised the prospect of new economic sanctions.
    • Having a Greek prime minister with with a strongly dissenting view could greatly complicate EU foreign policy, as further sanctions cannot be approved without a unanimous vote from leaders of every EU member nation.
    • ETFs: GREK -3.8% premarket
    | 5 Comments
  • 4:30 AM
    | 6 Comments
  • Tuesday, January 27, 2015

  • 12:46 PM
    • EasyJet (OTCQX:ESYJY) reports passengers carried rose 4.1% to 14.9M in Q4.
    • Total revenue +3.8% Y/Y to £931 ($1.414B).
    • Load factor +100 bps to 89.7%.
    • Fuel costs per seat -2.0% (constant currency).
    • Marketing efforts aimed at increasing business travel booked paid off, says the company.
    | Comment!
  • 12:45 PM
    • Recalling the Fed's premature tightening of policy in 1937, Jeff Gundlach is worried the Yellen Fed could do the same. A June rate hike is "particularly dangerous," says Gundlach, as the data - particularly inflation numbers - look to be going in the opposite direction. The reason for the Fed's zeal to hike rates, says Gundlach, is its desire not be at zero when the next recession hits.
    • "The consensus is that [10-year yields] will end the year 100 basis points higher ... It's amazing the triumph of hope over experience ... I think it's obvious the world is dealing with a deflation situation."
    • Inside ETFs Conference notes
    • As for the ECB's QE, count Gundlach as unimpressed ... No surprise given his opinion of the U.S. and Japanese QE efforts.
    • ETFs: IEF, PST, IEI, TYO, DTYS, UST, STPP, PLW, VGIT, GOVT, FLAT, TBX, GSY, SCHR, DTYL, TYD, ITE, DFVL, TBZ, FIVZ, DFVS, TYNS, TAPR, SYTL
    | 6 Comments
  • 9:59 AM
    • U.S. sales for Hyundai (OTC:HYMLF) are expected to increase 8.6% to 88K units in January, according to an estimate from Kelley Blue Book.
    • Hyundai market share -30 bps at 7.7%. (estimated)
    • Projected results include the Kia brand.
    • Last year, Hyundai surprised by gaining market share in the mid-size luxury segment. The Korean automaker hopes to extend on its success this year with the Genesis, K9, and Equus.
    • U.S. new-vehicles sales are projected to increase 12.9% Y/Y to 1.14M units vs. the polar vortex month of a year ago.
    | Comment!
  • 9:54 AM
    • U.S. sales for Nissan (OTCPK:NSANY) are expected to increase 8.3% to 98K units in January, according to an estimate from Kelley Blue Book.
    • Nissan market share -40 bps at 8.6%. (estimated)
    • Execs with Nissan are on the hook with a bold prediction that the new 2016 Titan will capture 5% segment market share after its introduction later this year. Until then, Nissan is not expected to keep up with peers on truck sales.
    • U.S. new-vehicles sales are projected to increase 12.9% Y/Y to 1.14M units vs. the polar vortex month of a year ago.
    | Comment!
  • 9:47 AM
    • U.S. sales for Honda (NYSE:HMC) are expected to increase 11.3% to 102K units in January, according to an estimate from Kelley Blue Book.
    • Honda market share -20 bps at 8.9%. (estimated)
    • The monthly sales pace should set Honda on the path to eclipse last year's 1% gain in U.S. sales. A new HR-V crossover and updated Pilot could be highlights.
    • U.S. new-vehicles sales are projected to increase 12.9% Y/Y to 1.14M units vs. the polar vortex month of a year ago.
    | Comment!
  • 9:42 AM
    • U.S. sales for Toyota (NYSE:TM) are expected to increase 12.7% to 165K units in January, according to an estimate from Kelley Blue Book.
    • Toyota market share flat at 14.5%. (estimated)
    • This year will see a focus on the sales growth of the Tacoma truck with an updated 2016 model expected to hit showrooms in Q4.
    • U.S. new-vehicles sales are projected to increase 12.9% Y/Y to 1.14M units vs. the polar vortex month of a year ago.
    | Comment!
  • 8:29 AM
    | 3 Comments
  • 7:58 AM
    • Diageo (NYSE:DEO) faces criticism over a new procurement process that extends payments out to suppliers.
    • Reports indicate the company will pay suppliers in some territories in as many as 120 days in a measure aimed at improving its cash flow.
    | Comment!
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