DJIA 17875 // S&P 2076 // NASDAQ 4910 // 10-YR TRE 1.8930%
EURO 1.0811 // OIL 53.25 // GOLD 1208 // BIT 256
US courier service FedEx agreed to by Holland-based TNT for $4.8 billion, signaling their interest in competing with UPS in a market that the Brown Uniform Guys previously dominated. A merger between UPS and TNT was actually blocked in 2013 by antitrust regulators. FedEx is a more acceptable partner as it is stronger in air-based business, complimentary to TNT's core business on the ground.
EURO 1.0811 // OIL 53.25 // GOLD 1208 // BIT 256
269,000,000
The number of cases of Bud Light sold in the United States in 2012. Revenues totaled $4.45 billion, making it America's most popular beer by volume. The next most popular beer was a tie between Budweiser ("Bud Heavy") and Coors Light,each selling 102 million cases. Happy National Beer Day!
NOTE: If paywalled, search article title and access from Google
"FedEx already has a sizable air-delivery business in Europe, but it lags in ground deliveries. Executives declare that the deal is 'much better and much simpler' than the doomed merger between UPS and TNT in 2013."
Virtu Financial had its IPO shelved earlier in 2014 amid the furor against high-frequency traders triggered by publication of Michael Lewis' Flash Boys. Now, shares are scheduled to price on April 15 at around $17 to $19 apiece on 16.5 million shares. At the high end of the price range, the compay may be worth as much as $2.5 billion.
How the Vise on US Wages Tightened, WSJ op-ed
"US automakers used to manufacture nearly all of the 15,000 parts necessary to make a car. Today, they purchase around 70% of the value-added from independent manufacturers. A battle is being staged in Washington around whether an open US market, or some kind of alternative, is the best way to bring US workers in high-paying manufacturing jobs the wage increases they've been waiting for."
"The past three decades have seen a dramatic improvement in the situation for the world's poor, most noticeably in China and India. This change is the result of a move by these countries and others to the markets from a government-managed system."
BlackRock to close or combine some money-market funds, Reuters via Yahoo Finance
"BlackRock, the world's largest money manager, is considering changing its funds lineup to comply with new SEC regulations issued in July. The reforms will require "prime" money funds used by institutional investors to float their values, instead of maintaining a stable value of $1 per share. The goal is prevent investors from getting spooked by the fund breaking the buck, where net asset value falls below $1 per share."
Vocabulary & People:
Calendar:
Calendar:
- Mo Apr 6: Bill Dudley speaks, ISM non-mfg index
- Tu Apr 7: Gallup US ECI, JOLTS
- We Apr 8: Mortgage apps, FOMC minutes; AA, BBBY, FDO, WDFC
- Th Apr 9: Jobless claims, Wholesale trade; WBA
- Fr Apr 10: Import export prices, Treasury budget
Predictions from last week: 1/3 All-Time: 19/36
- Increasing trade imbalance: WRONG
- Rising consumer confidence: CORRECT
- Strong employment numbers: WRONG
- Chinese yuan strengthens against dollar
- AA misses earnings
- Another presidential candidate declares
Participants: R. Niu, C. Cooper, J. LaSala, S. Ballantyne, K. Meenan
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