FA Notes May 31, 2011
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