NOK – Nokia warns Q2 earnings will be “substantially below” guidance. Link
CCJ – Germany decides to shut down all its nuclear power plants by 2022. Link
GS – Goldman lost 98% of Libya’s sovereign wealth fund’s investment. Link
”early 2008, Libya’s sovereign-wealth fund controlled by Col. Moammar Gadhafi gave $1.3 billion to Goldman Sachs Group to sink into a currency bet and other complicated trades. The investments lost 98% of their value, internal Goldman documents show.”
Euro – Germany considering backing down on demand to reschedule Greek bonds. Link WSJLink2
ATVI – Activision will launch a premium pay service for Call of Duty called Elite. Link
NVDA – CEO says Tegra will surpass its GPU business in the future. Link
Corriente Advisors’ Mark Hart bets against China. Link
NYTimes reports China’s economy is slowing. Link
”Our business is down 30 to 40 percent, we’re losing money every day,” said Li Chuanlian, the manager of a store that sells stoves.”
Hedge funds use FXI options to bet for and against China. Link
Jeffrey Gundlach of DoubleLine is bearish on the economy. Link
Robert Rodriguez of FPA Capital says we will have another crisis. Link
Today’s POMO $1.5-2.5 billion
EB- NOK
EBAY GOOG – eBay sues Google for stealing mobile payment trade secrets. Link
Blackjack player wins $15 million from casinos. Link
Tennis star Stefan Edberg finds success trading bonds. Link
NYTimes on the audacity of the billion dollar Longtop Financial fraud. Link
NYTimes on David Einhorn’s bet on the Mets. Link
Today’s POMO 0
Jobless claims 424K vs. 404k est.
Q1 GDP 1.8% vs. 2.1% est., price index 1.9% vs. 1.9% est.
ECB may have more leeway on Greece restructuring than rhetoric says. Link
Euro – “Euro gained ground against most other currencies after European Financial Stability Facility Chief Executive Klaus Regling reportedly said that China and other Asian central banks are interested in buying EFSF bonds, which are expected to be issued in June” Link
F-35 fleet will cost $1 trillion over 50 years. Link
Today’s POMO $5-7 billion
EB+ TIF
EB- BIG
EBAY – WSJ reports Bank of America, Wells Fargo, and JP Morgan to launch online payment service to compete with PayPal. Link
SNE – Sony may cut LCD TV targets by 20-30%. Link
Zynga is about to file for IPO soon. Link
Interview with Jim Chanos on his China shorts. Link
2010 Ira Sohn stock picking performance. Link
Today’s POMO $4-6 billion
WSJ Burkle out-gunned by Liberty on BKS bid? Link
Tepco admits fuel rods in reactor 2 and 3 had meltdowns. Link
SJM – J.M. Smucker raises coffee product prices by 11%. Link
Euro – Moody’s says a Greek debt restructuring would affect the credit ratings of other European countries. Link
Yandex, Russia’s leading search engine, will sell 52.2M shares to raise $1.3 billion. Link
Goldman is once again bullish on commodities and oil after saying sell last month. Link Link2
Euro – ECB governing council member rules out restructuring of Greece debt. Link
Tiger Asia is down 16% as of mid-May due to its short exposure. Link
Fusion-io wants to go public at a $1.2 billion valuation. Link
Mutual fund cash balances are at record lows. Link
Today’s POMO $5-7 billion
New York Times article on the euro-zone crisis. Link
Michael Jordan stories. Link
Fusion-io IPO filing. Link
SPY – Barton Biggs is still bullish. Link
AAPL – Foxconn “explosion” Chengdu plant made 25-30% of iPad 2 devices shipped in April. Link
AAPL – Report that iPhone 5 will use curved glass. Link
Euro – Greece readies crisis-fighting steps. Link
Euro – Spain’s ruling Socialist party gets routed. Link
”45% of young people are out of work”
Today’s POMO $6-8 billion
WSJ negative on AAPL for not doing better on cash returns. Link
WSJ Congressional investigators look at SAC options trades. Link
ECB threatens to stop lending if Greece changes terms on debt. Link
WSJ says new Spanish government will likely find tons of “secret” debt. Link
FrontPoint to shut down most of its funds. Link
MU SNDK – Demand for flash and memory continues to be weak. Link
Larry Summers worries about a technology stock bubble. Link
BKS – Liberty Media bids $17 in cash for Barnes & Noble. Link
LNKD – SecondMarket LinkedIn price history. Link
LNKD – Whisper estimates for LinkedIn during IPO roadshow. Link
Today’s POMO $6-8 billion
WSJ negative article on LNKD Link
EB- ARO GPS
Jobless claims 409K vs. 425K est., 434K prior
BIG – WSJ says the company decides not to sell itself due to bid not being high enough. Link
AAPL – Report that Apple signs music deals for cloud service with major labels. Link
MCP – China announces to export quotas. Link
Facebook COO commencement speech. Link
CSCO – Report that Cisco might sell off Linksys and WebEx. Link
AMZN – Amazon trade-in now accepts consumer electronics. Link
Red Herring 2011 top 200 most innovative company finalists. Link
SNDK – May NAND flash memory prices down 2-10%. Link
Today’s POMO $1.5-2.5 billion
Today’s Sell-side Goldman downgrades INTC to Sell Link
WSJ negative article on SPLS Link
CCME – Fantastic investor letter from hedge-fund that killed it shorting Chinese frauds. Link
BIDU SINA – CLSA is bullish on Chinese internet stocks like Baidu, Tencent, and Sina. Link
AAPL – No LTE iPhone in 2011. Link
AAPL – Apple lowers iPhone 4 shipment volume due to anticipation of iPhone 4S launch in September. Link
NYTimes on the consumer PC slowdown. Link
NVDA – Nvidia CEO says there are at least 10 major design wins for Kai-El chip. Link
Vanity Fair profile on Zynga founder Mark Pincus. Link
More insider detail on the Bin Laden raid. Link
MSFT – Bill Gates supported the Skype acquisition. Link
Today’s POMO $1.5-2.5 billion
WSJ Negative article on HPQ Link
EB+ SODA
EB- SPLS
Dell revenue miss, but great gross margins and full year operating income growth guidance.