Economic Reports 04/05/07
Summary: Dollar at a two year low vs Euro… Job want ads taking a "Monster" hit….
Package shipper Fedex warned, now a railroad joins in… largest US memory chip maker losing money on chips that cost MORE to produce than the selling price…
Daimler-Benz wants to dump Chrysler and has an offer…. a rise in $7 an hour McJobs, however the bleed continues into the service and finance sectors…
BOE Rate Announcement: rates on hold at 5.25%.
Financier Kirk Kerkorian said Tracinda would be glad to take Chrysler Group off DaimlerChrysler's hands for $4.5 B and a new contract with the UAW.
Monster Worldwide (MNST) is tacking a 4.0% decline onto yesterday's sales warning-induced 13% drubbing...
"The U.S. job market is not as robust as the international job market," said Timothy Boyd, an analyst with Caris & Co. U.S. online job ads fell 2% in March from February.
Railroad Norfolk Southern warns Q1 earnings will be below year/year ago levels; Norfolk Southern blamed its profit warning on declining volumes from the automotive and housing industries.
Micron (MU) the largest U.S. maker of computer memory chips, reported a Q2 loss of $52 million after its expansion into flash memory increased costs and an inventory glut sent prices plummeting.
During Q2, the prices for NAND memory chips dropped 30 %, but Micron states "prices have stabilized". Merrill Lynch said "inventories will resume falling this quarter and shipments will increase in Q3".
Hans Mosesmann, an analyst at Nollenberger Capital Partners: "the chips are close to the point where it costs more to produce them than they sell for."
Initial Claims 03/31 +11K to 321K Full Report
Inside the number: prior revised up 2K to 310K. 4 week MA -1.5K to 315.750K. Continuing claims -25K to 2.49M; 4 week MA -7.5K to 2.52M.
IN +1,215 automobile industry.
OK +1,234 No comment.
CA +1,854 service and finance industries.
MI +2,836 automobile industry.
Package shipper Fedex warned, now a railroad joins in… largest US memory chip maker losing money on chips that cost MORE to produce than the selling price…
Daimler-Benz wants to dump Chrysler and has an offer…. a rise in $7 an hour McJobs, however the bleed continues into the service and finance sectors…
BOE Rate Announcement: rates on hold at 5.25%.
Financier Kirk Kerkorian said Tracinda would be glad to take Chrysler Group off DaimlerChrysler's hands for $4.5 B and a new contract with the UAW.
Monster Worldwide (MNST) is tacking a 4.0% decline onto yesterday's sales warning-induced 13% drubbing...
"The U.S. job market is not as robust as the international job market," said Timothy Boyd, an analyst with Caris & Co. U.S. online job ads fell 2% in March from February.
Railroad Norfolk Southern warns Q1 earnings will be below year/year ago levels; Norfolk Southern blamed its profit warning on declining volumes from the automotive and housing industries.
Micron (MU) the largest U.S. maker of computer memory chips, reported a Q2 loss of $52 million after its expansion into flash memory increased costs and an inventory glut sent prices plummeting.
During Q2, the prices for NAND memory chips dropped 30 %, but Micron states "prices have stabilized". Merrill Lynch said "inventories will resume falling this quarter and shipments will increase in Q3".
Hans Mosesmann, an analyst at Nollenberger Capital Partners: "the chips are close to the point where it costs more to produce them than they sell for."
Initial Claims 03/31 +11K to 321K Full Report
Inside the number: prior revised up 2K to 310K. 4 week MA -1.5K to 315.750K. Continuing claims -25K to 2.49M; 4 week MA -7.5K to 2.52M.
IN +1,215 automobile industry.
OK +1,234 No comment.
CA +1,854 service and finance industries.
MI +2,836 automobile industry.
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