- Intel approved a 7% increase in the quarterly cash dividend to 22.5 cents per share, 90 cents per share on an annual basis.
- Walt Disney (DIS) quarterly earnings beat Wall Street expectations as profit rose 21%.
- Poland raised rates to 4.75%
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Modern Banker JPMorgan, celebrated for its “controls”, said it lost $2 Billion “in six weeks” because of poor controls – quite the feat - more to disclose? Mr. Dimon recently responded to a question about too big to fail as “infantile” and “nonfactual.” (If only Glass-Steagall were still around!)
- The U.S. has made "considerable progress" in restoring its banking system since the financial crisis, said Bernanke.
(If only Glass-Steagall were still around!)
- S&P cuts outlook on J.P. Morgan Chase to negative, citing risk management (If only Glass-Steagall were still around!)
- China's consumer price index (CPI) rose 3.4% YoY in April
- China’s consumer confidence stood at 86.65 in April, down 0.12% points from March.
- China will lower the bank reserve requirement ratio by 0.5% starting May 18. The cut, the second of its kind this year, this will drop the RRR for the country's large financial institutions to 20% and the medium- and small-sized financial institutions to 16.5%.
- Gasoline stocks fell2.6 million barrels.
- Distillate stocks decreased 3.3 million barrels
- Ethanol stocks fell to 21.4 million barrels, down from 22.2 million the previous week
- USDA estimates soybean stocks to use at 4.4%. This is equivalent to two weeks' worth of use, and the lowest stocks-to-use figure since 1965-66.
- Home Inns (HMIN) revenues rose 66.0% YoY
- FDA advisers recommended approval of Arena’s (ARNA) lorcaserin -- could be first new weight loss drug in a decade.
- Spain's annual inflation rose to 2% in April, up from 1.8% in the previous month
- At least 100,000 Spaniards angered by grim economic prospects and the political handling of the international financial crisis turned out for street demonstrations.
- Spanish banks have been given 15 days to submit plans to meet an obligatory
€30bn recapitalisation, or face nationalisation.
- The top U.S. grain groups on Thursday called for federal regulators to delay the start of 22-hour grains trading at CME Group and rival (ICE) Intercontinental Exchange.
- (TEF) Telefonica posted a net profit of EUR748 million in Q1, down 54% from EUR1.62 billion in the same period a year earlier, missing forecasts of EUR1.31 billion.
- China’s gold output in the first three months of the year reached 80.8 tonnes, up 10% YoY.
- The U.S. consumer sentiment index rose to a new post-recession high of 77.8
- Chinese ratings provider Dagong Global Credit Rating Co. said Friday that it upgraded the local and foreign currency sovereign credit rating of Greece from D to CC with a negative outlook.
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