Eile jätkus aktsiaturgudel tugev müügisurve, mis oli suures osas tingitud Kreeka võimalikust referendumist, mille tulemusena võib eelmisel nädalal saavutatud Euroopa liidrite kokkuleppele sisuliselt kriipsu peale tõmmata. Aasia turud on ka täna ehk kolmandat järjestikkust päeva languses: Nikkei kaupleb hetkel 1,95% miinuspoolel ja Hongkongi börs kaupleb 0,4% punases. Eilse langusega on aasta algusega võrreldes miinusesse vajunud S&P500 kõrval ka Nasdaq; DJIA on veel 0,69% plusspoolel.
Valuutaturgudel ollakse eilsetest langustest vaikselt toibumas ja kõik "riskantsemad" valuutad kauplevad hetkel USA dollari vastu kõrgemal. AUDUSD kaupleb 0,5%, EURUSD ja GBPUSD 0,25% kõrgemal. Esmaspäeval Jaapani keskpanga sekkumise tulemusena langenud jeen on täna tugevnenud USA dollari vastu 0,35% ja kaupleb Y78,00 taseme juures.
Euroopa aktsiaindeksid langesid eile väga tugevalt: Euro Stoxx 50 lõpetas 5,26%, CAC40 5,38% ja DAX 5,0% madalamal. Hetkel on Euroopa ja USA indeksite futuurid viitamas eilsest langusest taastumisele ja futuurid kauplevad kuni 1,3% plusspoolel.
Tänastest makronäitajatest avaldatakse kell 10.55 Saksamaa töötusmäär ja PMI tootmisindeks; kell 11 ilmub terve eurotsooni PMI tootmisindeks. Kell 11.30 avaldatakse Suurbritannia PMI ehitussektori indeks. USA sessioonil on kell 14.15 avaldamisel ADP töötururaport ja kell 18.30 teeb oma intressimäära otsuse USA Föderaalreserv, kes jätab kõikide ootuste kohaselt intressimäära muutmata vahemikku 0-0,25%. Otsusele järgneb kell 20.15 Fedi juhi Ben Bernanke pressikonverents.
Tavainimese arusaam olukorrast Kreekas...

Karum6mm
Tavainimese arusaam olukorrast Kreekas...
See on nagu Kreisiraadio lugu "Raha ei ole" - seal ka "ärimees" ei saanud aru, kuhu 800 miljonit kadus, raha lihtsalt ei olnud enam.
http://www.youtube.com/watch?v=bdX9rStKaMk
Õnnis teadmatus.
MILAN -(Dow Jones)- Italy's central bank is preparing an emergency maneuver to swap state bonds held by the country's banks for new bonds with a longer maturity, according to Italian newspaper Il Messaggero Wednesday.
ja EFSF on esimesel rahatõstmise katsel?
LONDON, Nov 2 (IFR) - The European Financial Stability Facility (EFSF) will hold an investor call at 9.30 London time ahead a planned EUR3bn no-grow long 10-year issue, leads said. Bookrunners Barclays Capital, Credit Agricole and JP Morgan are handling the trade which is the first time the EFSF has tapped the market since June.
The EFSF is not decided yet whether to go ahead with the transaction or not. Market expectations were that the deal would launch and price today. EFSF's spreads have come under pressure in recent weeks and the borrower's outstanding 10-year was quoted at 89.5bp over mid-swaps this morning according to Tradeweb
LONDON, Nov 2 (IFR) - The European Financial Stability Facility (EFSF) will hold an investor call at 9.30 London time ahead a planned EUR3bn no-grow long 10-year issue, leads said. Bookrunners Barclays Capital, Credit Agricole and JP Morgan are handling the trade which is the first time the EFSF has tapped the market since June.
The EFSF is not decided yet whether to go ahead with the transaction or not. Market expectations were that the deal would launch and price today. EFSF's spreads have come under pressure in recent weeks and the borrower's outstanding 10-year was quoted at 89.5bp over mid-swaps this morning according to Tradeweb
Eurotsooni PMI langes oktoobris eelneva kuu 48.5 punktilt 47.1 punktini. Saksamaa PMI indeks langes alla 50-ne punkti ehk 49.1 punktini, mis on siiski parem näitaja kui teistes suurtes eurotsooni riikides. Näiteks Itaalias alanes indeksi väärtus 48.3 punktilt 43.3 punktile ja Prantsusmaal tõusis PMI 48.2 pealt 48.5 punktini.
Saksamaa töötute arv kasvas oktoobris sesoonselt korrigeeritud andmetel 10 000 võrra ning tööpuudus tõusis 6.9%-lt 7%-ni. Sesoonselt korrigeerimata töötute arv aga langes 2.8 miljoni pealt 2.7 miljonini.
Saksamaa töötute arv kasvas oktoobris sesoonselt korrigeeritud andmetel 10 000 võrra ning tööpuudus tõusis 6.9%-lt 7%-ni. Sesoonselt korrigeerimata töötute arv aga langes 2.8 miljoni pealt 2.7 miljonini.
ADP tööturu raporti numbrid oodatust paremad: +110K vs oodatud +100K

Vallo Lees
ADP tööturu raporti numbrid oodatust paremad: +110K vs oodatud +100K
praktiliselt kogu kasv teenindussektorist, oli vist 122 000 vs 114 000 septembris
ja September's private payrolls were revised up to an increase of 116,000 from the previously reported 91,000
Deutsche Bank tõstab täna Sohu.com (SOHU) reitingu Hoia pealt Osta peale koos $ 82 hinnasihiga.
We upgrade Sohu from Hold to Buy on strong growth momentum from the nongaming business, particularly video and search ads. We believe Sohu's online ad business is shifting from a low-risk, low-return profile (e.g. brand ads) to a highrisk, high-return one (e.g. online video). With Sohu ranking No.2 in online video traffic in China and video ad growth of 110%+ in 2Q, we believe its position in China’s online video market is firmly entrenched. In addition, we see ample scope for its search ad business to grow in the next few years.
With strong cash flow from the gaming business, a media resource that helps content sourcing, and its content genre expansion, we believe Sohu is well positioned to capture the growth opportunity in China’s online video market. We expect its video ad revenue to reach US$180m in 2013, which represents 42% of Youku’s revenue level and 77% of Tudou’s in that year. In addition, we expect the search business to maintain strong growth momentum in the next two years, making Sogou a good online marketing platform for smaller SMEs, in our view.
Analüütikud näevad tugevat kasvupotenstaali eelkõige SOHU mängudega mitte seotud segmentides (video ja otsing ). Analüütikute sõnul on SOHU-l on Hiina internetiturul veel küllaga kasvuruumi ning prognoosivad, et firma videokäive kasvab 2013. aastaks $ 180 miljonini, mis on ainult 42% Youku käibest.
Iseenesest pole tegemist väga tugeva upgradega, aga võttes arvesse, et SOHU aktsia tegi esmaspäeval läbi peale kvartalitulemuste teatamist korraliku kukkumise ja täna valitsevad turul taas positiivsed meeleolud, siis võib antud call ka turuosaliste tähelepanu köita. Arvestada tuleks ka sellega, et kuna tegemist on Hiina aktsiaga, siis need kalduvad teinekord käituma omasoodu.
Eelturul kaupleb SOHU $ 61,50 kandis, 4% plusspoolel.

We upgrade Sohu from Hold to Buy on strong growth momentum from the nongaming business, particularly video and search ads. We believe Sohu's online ad business is shifting from a low-risk, low-return profile (e.g. brand ads) to a highrisk, high-return one (e.g. online video). With Sohu ranking No.2 in online video traffic in China and video ad growth of 110%+ in 2Q, we believe its position in China’s online video market is firmly entrenched. In addition, we see ample scope for its search ad business to grow in the next few years.
With strong cash flow from the gaming business, a media resource that helps content sourcing, and its content genre expansion, we believe Sohu is well positioned to capture the growth opportunity in China’s online video market. We expect its video ad revenue to reach US$180m in 2013, which represents 42% of Youku’s revenue level and 77% of Tudou’s in that year. In addition, we expect the search business to maintain strong growth momentum in the next two years, making Sogou a good online marketing platform for smaller SMEs, in our view.
Analüütikud näevad tugevat kasvupotenstaali eelkõige SOHU mängudega mitte seotud segmentides (video ja otsing ). Analüütikute sõnul on SOHU-l on Hiina internetiturul veel küllaga kasvuruumi ning prognoosivad, et firma videokäive kasvab 2013. aastaks $ 180 miljonini, mis on ainult 42% Youku käibest.
Iseenesest pole tegemist väga tugeva upgradega, aga võttes arvesse, et SOHU aktsia tegi esmaspäeval läbi peale kvartalitulemuste teatamist korraliku kukkumise ja täna valitsevad turul taas positiivsed meeleolud, siis võib antud call ka turuosaliste tähelepanu köita. Arvestada tuleks ka sellega, et kuna tegemist on Hiina aktsiaga, siis need kalduvad teinekord käituma omasoodu.
Eelturul kaupleb SOHU $ 61,50 kandis, 4% plusspoolel.

Gapping down
In reaction to disappointing earnings/guidance: WMGI -12.6%, VG -12.1%, OPEN -11.8% (also downgraded to Mkt Perform at Morgan Keegan, assumed with a Buy from Hold at ThinkEquity), THOR -10.6%, RLOC -8.4%, EZCH -7.9%, BDX -6.7%, WNC -6.4% (light volume), DVR -6.3% (light volume), CGNX -5.8% (light volume), FWLT -5.1% (light volume), SNE -5.1%, CCUR -5.1% (thinly traded), ACAS -5.1%, AMRS -5% (also downgraded to Neutral from Outperform at Robert W. Baird), NVTL -5% (light volume), SANM -4.8%, ATML -4.8%, HAIN -4.5%, CTSH -4.1%, TRW -3.7% (ticking lower), AEIS -3.1% (light volume), TLEO -2.7% (ticking lower), AOL -2.6% (ticking lower), TEVA -1.4%.
Other news: SYMS -47.8% (Syms and its wholly owned subsidiary Filene's Basement announced that they have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code), DMND -15.1% (announces acquisition of Pringles is now expected to close in the first half of calendar 2012; DMND also downgraded to Neutral from Buy at BofA/Merrill, downgraded to Sector Perform from Outperform at RBC Capital, downgraded to Market Perform from Outperform at Northland Securities), HGSI -6.6% (announces offering of convertible notes), LYG -4.6% (Lloyds Banking's Group Chief Executive is taking a temporary leave of absence), DYN -2.6% (missed interest payment and extends exchange offers withdrawal deadline).
Analyst comments: NXPI -2.9% (light volume, downgraded to Equal Weight from Overweight at Morgan Stanley), ANN -1.3% (downgraded to Sell from Neutral at Goldman), AGCO -1% (ticking lower, initiated with an Underweight at Morgan Stanley).
In reaction to disappointing earnings/guidance: WMGI -12.6%, VG -12.1%, OPEN -11.8% (also downgraded to Mkt Perform at Morgan Keegan, assumed with a Buy from Hold at ThinkEquity), THOR -10.6%, RLOC -8.4%, EZCH -7.9%, BDX -6.7%, WNC -6.4% (light volume), DVR -6.3% (light volume), CGNX -5.8% (light volume), FWLT -5.1% (light volume), SNE -5.1%, CCUR -5.1% (thinly traded), ACAS -5.1%, AMRS -5% (also downgraded to Neutral from Outperform at Robert W. Baird), NVTL -5% (light volume), SANM -4.8%, ATML -4.8%, HAIN -4.5%, CTSH -4.1%, TRW -3.7% (ticking lower), AEIS -3.1% (light volume), TLEO -2.7% (ticking lower), AOL -2.6% (ticking lower), TEVA -1.4%.
Other news: SYMS -47.8% (Syms and its wholly owned subsidiary Filene's Basement announced that they have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code), DMND -15.1% (announces acquisition of Pringles is now expected to close in the first half of calendar 2012; DMND also downgraded to Neutral from Buy at BofA/Merrill, downgraded to Sector Perform from Outperform at RBC Capital, downgraded to Market Perform from Outperform at Northland Securities), HGSI -6.6% (announces offering of convertible notes), LYG -4.6% (Lloyds Banking's Group Chief Executive is taking a temporary leave of absence), DYN -2.6% (missed interest payment and extends exchange offers withdrawal deadline).
Analyst comments: NXPI -2.9% (light volume, downgraded to Equal Weight from Overweight at Morgan Stanley), ANN -1.3% (downgraded to Sell from Neutral at Goldman), AGCO -1% (ticking lower, initiated with an Underweight at Morgan Stanley).
Gapping up
In reaction to strong earnings/guidance: PNX +23.5% (thinly traded), KTCC +13.4%, GRMN +11.1%, HUN +11%, FIRE +9.6% (light volume), MGIC +8%, SGY +7.2% (light volume), HGG +7.2% (light volume), JDSU +7.1%, SIMO +6.8%, MA +6.6%, SAM +6.5% (also upgraded to Buy from Underperform at Credit Agricole), MRGE +6.3%, OPXT +6.2% (thinly traded), EOG +4.8% (also upgraded to Outperform from Market Perform at Bernstein), CLH +2.6%, SNCR +2.3%, WMB +2.2% (light volume), PLT +1.8%, WPRT +1.6%, UNM +1.4% (light volume), TRMB +1.1% (light volume), CF +0.5%.
M&A related: HRBN +2.1% (commences closing process for 'Going Private' Transaction), YHOO +0.9% (ticking higher pre-market on WSJ article that co is speaking to Private Equity firms about minority stake).
Select financial related names showing strength: NBG +4.2% MS +4%, BAC +3.6%, DB +2.9%, GNW +2.7%, C +2.5%, GS +2.4%, BCS +1.7%, ING +1.7%.
Select metals/mining stocks trading higher: GOLD +3.8%, SSRI +2.1%, GG +2.1%, SLV +2.1%, MT +2%, SLW +1.8%, RIO +1.4%, BHP +0.5%.
Oil/gas related names seeing early strength: BHI +3.7%, HAL +3.6%, HES +3.4%, FST +3.4% (upgraded to Buy from Neutral at BofA/Merrill).
A few steel related names showing strength: AKS +4.0%, X +3.0%.
Other news: MELA +18.7% (announces FDA Approval for MelaFind), EXEL +8.2% (modestly rebounding), FRPT +6.3% (receives $185.9 million award for 167 Buffalo vehicles and 102 bar armor kits), RENN +5.5% (still checking), AUO +5.3% (still checking), FNSR +3.2% (higher following JDSU results), V +2.4% (higher following MA results), ARMH +2.3% (HPQ picks ARMH chips for its servers, according to reports; upgraded to Outperform from Market Perform at BMO Capital), AIG +1.2% (American Intl repays ~$1 bln to United States Department of the Treasury, reducing government's interests in AIG), PG +0.3% (acquisition of Pringles is now expected to close in the first half of calendar 2012).
Analyst comments: FFIV +4.4% (initiated with an Outperform at JMP Securities), SOHU +4.1% (light volume, upgraded to Buy from Hold at Deutsche Bank), UA +2.7% (upgraded to Buy from Neutral at Goldman), ARO +2.4% (ticking higher, upgraded to Neutral from Sell at Goldman), NKE +1.5% (light volume, upgraded to Buy from Neutral at Goldman; also added to Conviction Buy List), PCS +0.7% (upgraded to Overweight from Neutral at JP Morgan).
In reaction to strong earnings/guidance: PNX +23.5% (thinly traded), KTCC +13.4%, GRMN +11.1%, HUN +11%, FIRE +9.6% (light volume), MGIC +8%, SGY +7.2% (light volume), HGG +7.2% (light volume), JDSU +7.1%, SIMO +6.8%, MA +6.6%, SAM +6.5% (also upgraded to Buy from Underperform at Credit Agricole), MRGE +6.3%, OPXT +6.2% (thinly traded), EOG +4.8% (also upgraded to Outperform from Market Perform at Bernstein), CLH +2.6%, SNCR +2.3%, WMB +2.2% (light volume), PLT +1.8%, WPRT +1.6%, UNM +1.4% (light volume), TRMB +1.1% (light volume), CF +0.5%.
M&A related: HRBN +2.1% (commences closing process for 'Going Private' Transaction), YHOO +0.9% (ticking higher pre-market on WSJ article that co is speaking to Private Equity firms about minority stake).
Select financial related names showing strength: NBG +4.2% MS +4%, BAC +3.6%, DB +2.9%, GNW +2.7%, C +2.5%, GS +2.4%, BCS +1.7%, ING +1.7%.
Select metals/mining stocks trading higher: GOLD +3.8%, SSRI +2.1%, GG +2.1%, SLV +2.1%, MT +2%, SLW +1.8%, RIO +1.4%, BHP +0.5%.
Oil/gas related names seeing early strength: BHI +3.7%, HAL +3.6%, HES +3.4%, FST +3.4% (upgraded to Buy from Neutral at BofA/Merrill).
A few steel related names showing strength: AKS +4.0%, X +3.0%.
Other news: MELA +18.7% (announces FDA Approval for MelaFind), EXEL +8.2% (modestly rebounding), FRPT +6.3% (receives $185.9 million award for 167 Buffalo vehicles and 102 bar armor kits), RENN +5.5% (still checking), AUO +5.3% (still checking), FNSR +3.2% (higher following JDSU results), V +2.4% (higher following MA results), ARMH +2.3% (HPQ picks ARMH chips for its servers, according to reports; upgraded to Outperform from Market Perform at BMO Capital), AIG +1.2% (American Intl repays ~$1 bln to United States Department of the Treasury, reducing government's interests in AIG), PG +0.3% (acquisition of Pringles is now expected to close in the first half of calendar 2012).
Analyst comments: FFIV +4.4% (initiated with an Outperform at JMP Securities), SOHU +4.1% (light volume, upgraded to Buy from Hold at Deutsche Bank), UA +2.7% (upgraded to Buy from Neutral at Goldman), ARO +2.4% (ticking higher, upgraded to Neutral from Sell at Goldman), NKE +1.5% (light volume, upgraded to Buy from Neutral at Goldman; also added to Conviction Buy List), PCS +0.7% (upgraded to Overweight from Neutral at JP Morgan).
Wynn Resorts declared a cash dividend of $5.00 per share on its outstanding common stock
Amazon.com: CNET article discusses Senators' push for internet sales tax
http://news.cnet.com/8301-31921_3-20128803-281/republican-senators-push-for-internet-sales-taxes/?tag=mncol;topStories
http://news.cnet.com/8301-31921_3-20128803-281/republican-senators-push-for-internet-sales-taxes/?tag=mncol;topStories
Reuters running headlines from German Chancellor Merkel, who says they want to exercise their plan for Greece, and they need clarity for this
opex, ma veidi oponeerin Sulle Germany isn`t making things teemal
esimene number on German manufacturing PMI, teine number on German manufacturing production index
esimene on arvamusküsitlus, teine on reaalne Germany making things number, mis tuleb mõningase viiteajaga
2008. aasta järgse posttraumaatilise shoki tõttu need PMI-d viimasel ajal ei ole nii head indikaatorid kui varem, arvamustes valitsevad maailmalõpu meeleolud, aga reaalsus pole nii kole
sama lugu tarbijausalduse jms. näitajatega ... 30 aasta madalaimad tasemed, aga jaemüük ja tarbimine siiski kasvab
11/2010 58,1 – 109.10
12/2010 60,7 – 109,3
01/2011 60,5 - 110
02/2011 62,7 – 111,80
03/2011 60,9 – 113,0
04/2011 62,0 – 113,30
05/2011 57,7 - 115
06/2011 54.6 – 113,6
07/2011 52.0 – 118,5
08/2011 50,9 - 117
09/2011 50,3 - ?
10/2011 49,1 - ?
esimene number on German manufacturing PMI, teine number on German manufacturing production index
esimene on arvamusküsitlus, teine on reaalne Germany making things number, mis tuleb mõningase viiteajaga
2008. aasta järgse posttraumaatilise shoki tõttu need PMI-d viimasel ajal ei ole nii head indikaatorid kui varem, arvamustes valitsevad maailmalõpu meeleolud, aga reaalsus pole nii kole
sama lugu tarbijausalduse jms. näitajatega ... 30 aasta madalaimad tasemed, aga jaemüük ja tarbimine siiski kasvab
11/2010 58,1 – 109.10
12/2010 60,7 – 109,3
01/2011 60,5 - 110
02/2011 62,7 – 111,80
03/2011 60,9 – 113,0
04/2011 62,0 – 113,30
05/2011 57,7 - 115
06/2011 54.6 – 113,6
07/2011 52.0 – 118,5
08/2011 50,9 - 117
09/2011 50,3 - ?
10/2011 49,1 - ?
Target (TGT): Hearing upgraded to Buy at Cleveland
SOHU liikus paraku täna tõesti omasoodu ja eelturu tugevust peale avanemist aktsias enam taastada ei suudetud.
SOHU avanes $ 61,27 pealt ja peale kiiret hüpet üles $ 62 kanti on aktsia tulnud tagasi alla ja jäänud kauplema $ 60,50-61,00 kanti.Hetkel kaupleb SOHU $ 60,65 juures, 2,5% plusspoolel.
SOHU avanes $ 61,27 pealt ja peale kiiret hüpet üles $ 62 kanti on aktsia tulnud tagasi alla ja jäänud kauplema $ 60,50-61,00 kanti.Hetkel kaupleb SOHU $ 60,65 juures, 2,5% plusspoolel.

USA autode müük tõusis aasta baasile viiduna oktoobris 8.2% ehk 13.26 miljonini ühikuni, ületades teist järjestikust kuud 13 miljoni taseme. Käesoleval aastal on enim sõidukeid müüdud vaid veebruaris, mil vastav näitaja oli 13.29 miljonit. Analüütikute sõnul püsib automüük ka 2011. aasta kahel viimasel kuul üle 13 miljoni ühiku. Morgan Stanley prognoosib 2011. aasta keskmiseks müügiks 12,6 miljonit ja järgmisel aastal 14 miljonit sõidukit.
