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Proprietary Trading Morning Market Update June 5 2013

Top Stock News:

US Stock Gains Well Supported: Stocks are much cheaper after four years of gains than they were in the two previous bull markets after taking corporate earnings into account, according to Neil Dutta, head of U.S. economics at Renaissance Macro Research LLC.

FED Stimulus Causes US Stock Decline: U.S. stocks fell, after the Standard & Poor's 500 Index rallied from a three-week low yesterday, as investors weighed prospects for economic growth with concerns the central bank will slow stimulus measures.

GM Rejoins S&P 500: General Motors Co will rejoin the S&P 500 index this week, marking a key milestone in the recovery of a company that needed billions of dollars to stay afloat during the financial crisis. GM will return to the S&P 500 after the stock market closes on Thursday, the S&P Dow Jones Indices said on Monday.

Top Economic News:

Global Stock Gains: Stocks on world markets and the dollar gained on Tuesday, though Wall Street fell, as expectations remained intact that the Federal Reserve will maintain its stimulus program to bolster the nascent U.S. economic recovery.

Bernanke Says Economy Poised For Growth: Federal Reserve Chairman Ben S. Bernanke will leave behind an economy poised to record its biggest advance in almost a decade when he makes his anticipated departure from the central bank early next year.

Deutsche Bank Will Take Earnings Hit: The bank, facing legal battles on a number of fronts, increased litigation provisions to 2.4 billion euros ($3.13 billion) earlier this year. It has also announced plans to cut 4.5 billion euros off annual costs by 2015, which will add to severance and other expenses in the last three quarters of this year.

Top Tech News:

SalesForce Will Purchase ExactTarget: Salesforce.com agreed on Tuesday to buy ExactTarget, a provider of marketing software services, for about $2.5 billion, further bolstering its social marketing offerings. Under the terms of the deal, Salesforce.com will pay $33.75 a share, nearly 53 percent above ExactTarget's closing price on Monday.

IBM To Buy SoftLayer: International Business Machines Corp. the world's largest seller of computer services, agreed to buy SoftLayer Technologies Inc., a cloud-computing storage provider that will help it compete with Amazon.com Inc. IBM is paying almost $2 billion for SoftLayer, according to a person familiar with the deal, who declined to be named because the financial terms aren't being released. SoftLayer had $335 million in revenue in 2012, Chief Executive Officer Lance Crosby said in an interview.

Proprietary Trading Economic Calendar:

Date

Time (NYSE:ET)

Statistic

For

 

Briefing Forecast

Market Expects

Prior

Revised From

Jun 5

7:00 AM

MBA Mortgage Index

06/01

 

NA

NA

-8.8%

-

Jun 5

8:15 AM

ADP Employment Change

May

 

140K

157K

119K

-

Jun 5

8:30 AM

Productivity-Rev.

Q1

 

0.5%

0.5%

0.7%

-

Jun 5

8:30 AM

Unit Labor Costs

Q1

 

0.6%

0.6%

0.5%

-

Jun 5

10:00 AM

Factory Orders

Apr

 

1.5%

1.6%

-4.9%

-4.0%

Jun 5

10:00 AM

ISM Services

May

 

52.5

53.5

53.1

-

Jun 5

10:30 AM

Crude Inventories

06/01

 

NA

NA

3.0M

-

Jun 5

2:00 PM

Fed's Beige Book

Jun

 

-

-

-

 

Proprietary Trading Earnings Announcements:

Company

Symbol

EPS
Estimate*

Time

 

Alternative Networks PLC

AN.L

N/A

Time Not Supplied

   

Amerco

UHAL

1.23

After Market Close

   

Ascena Retail Group Inc

ASNA

0.3

After Market Close

   

Atlanticus Holdings Corp

ATLC

N/A

Time Not Supplied

   

Centrosolar Group AG

C3O.DE

N/A

Time Not Supplied

   

Centrosolar Group AG

C3O.DE

N/A

Time Not Supplied

   

Coldwater Creek Inc

CWTR

-0.77

After Market Close

   

Cosan SA Industria e Comercio

CSAN3.SA

N/A

After Market Close

   

Cyberonics Inc

CYBX

0.43

Before Market Open

   

Dane-Elec Memory SA

DAN.PA

N/A

Time Not Supplied

   

Dominion Diamond Corp

DDC.TO

N/A

After Market Close

   

Enables It Group PLC

EIT.L

N/A

Time Not Supplied

   

Exide Technologies

XIDE

-0.1

Time Not Supplied

   

Fabasoft AG

FAA.DE

N/A

Time Not Supplied

   

Faiveley Transport SA

LEY.PA

N/A

After Market Close

   

Findel PLC

FDL.L

N/A

Time Not Supplied

   

First Property Group PLC

FPO.L

N/A

Before Market Open

   

Focus Media Holding Ltd

N6CD.SI

N/A

Time Not Supplied

   

Francesca's Holdings Corp

FRAN

0.26

After Market Close

   

FuelCell Energy Inc

FCEL

-0.05

After Market Close

   

Greif Inc

GEF

0.69

After Market Close

   

Hooker Furniture Corp

HOFT

0.22

Before Market Open

   

Hovnanian Enterprises Inc

HOV

-0.05

Before Market Open

   

Imaginatik PLC

IMTK.L

N/A

Time Not Supplied

   

Intercede Group PLC

IGP.L

N/A

Time Not Supplied

   

Jiayuan.Com International Ltd

DATE

0.07

After Market Close

   

Laurentian Bank of Canada

LB.TO

N/A

Before Market Open

   

Layne Christensen Co

LAYN

-0.1

Before Market Open

   

LJ International Inc

JADE

N/A

Time Not Supplied

   

Measurement Specialties Inc

MEAS

0.48

After Market Close

   

Media 6 SA

EDI.PA

N/A

Time Not Supplied

   

Nordion Inc

NDN.TO

N/A

After Market Close

   

North American Energy Partners Inc

NOA.TO

0.03

Time Not Supplied

   

North West Company Inc

NWC.TO

N/A

Time Not Supplied

   

Royal Imtech NV

IM.AS

N/A

Time Not Supplied

   

RPC Group PLC

RPC.L

N/A

Time Not Supplied

   

rue21 inc

RUE

0.46

Time Not Supplied

   

Saputo Inc

SAP.TO

0.72

Time Not Supplied

   

Selectica Inc

SLTC

N/A

Time Not Supplied

   

Streamline Health Solutions Inc

STRM

-0.06

Before Market Open

   

Synergy Health PLC

SYR.L

N/A

Time Not Supplied

   

Terrace Hill Group PLC

THG.L

N/A

Before Market Open

   

Thermon Group Holdings Inc

THR

0.24

Before Market Open

   

Thor Industries Inc

THO

0.88

Time Not Supplied

   

Utilico Emerging Markets Ltd

UEM.L

N/A

Time Not Supplied

   

Vera Bradley Inc

VRA

0.21

After Market Close

   

VeriFone Systems Inc

PAY

0.47

After Market Close