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Oct 28, 2013

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NYT | ALERT FGC BOLSA FGC FINANCIAL MARKETS OCTOBER 28, 2013: Reports on Manufacturing and Housing Point to a Stumbling Economy .

The New York Times | MY ALERTS


Compiled: October 28, 2013 06:08:56 PM

Manufacturing production edged up 0.1 percent in September, while contracts to buy existing homes fell 5.6 percent.

NYT | Asian Morning October 28, 2013: Data Suggests Push to Spy on Merkel Dates to '02.

The New York Times
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Monday, October 28, 2013

Top News
Data Suggests Push to Spy on Merkel Dates to '02


The administration has seemed uncertain about how to handle the reports concerning the German chancellor, who has enjoyed a close rapport with President Obama.
James Costos, the American ambassador, leaving the Spanish Ministry of Foreign Affairs in Madrid on Monday.
Spain Summons U.S. Ambassador in Spying Scandal


Two Spanish newspapers reported that the National Security Agency collected data on 60 million phone calls in the country.
A vehicle hit tourists and police officers before slamming into a fence abutting a stone bridge and catching fire.

Sinosphere Blog

5 People Killed After Vehicle Crashes at Tiananmen Square


There was no immediate indication of whether the episode, which also injured 38 people, was an accident or a deliberate attack. 

Editors' Picks

OPINION | Op-Ed Contributor

Confronting the Legacies of Slavery


Calls in the Caribbean for reparations are an occasion to face the many ways in which the past continues to shape the present.


Video Video: Humanoid Robots
Fully programmable robots were on display at the Humanoids 2013 conference in Atlanta. The goal is to enable them to work effectively and even autonomously in emergency situations.

An explosion occurred near where the opposition leader Narendra Modi was to speak.
Indian Officials Say Outlawed Militant Group Is Behind Patna Blasts


Investigators said Indian Mujahedeen, an Islamic militant group, were responsible for a series of bombs that went off at a political rally, killing at least six people.
Waves battered a lighthouse during one of the most powerful storms in Europe in years.
Powerful Storm Blasts Northern Europe


At least 13 people died, hundreds of thousands lost power and many people were stranded when trains, planes and ferries were canceled.
International military personnel watched Afghan recruits perform drills in Kabul. NATO plans to focus less on training Afghan troops than on ensuring that outside financing is spent properly.
NATO Reduces Scope of Its Afghanistan Plans


The reduced scope reflects fears that the United States Congress and European parliaments might discontinue funding unless American and NATO troops oversee how the money is spent.
. Blast Kills at Least 17 in Restive Afghan Province
For more world news, go to

Rebekah Brooks arrived at court on Monday with her husband, Charlie Brooks.

Memo From Britain

British Tabloids on Trial, Along With Ex-Editors


The trial of former editors in Rupert Murdoch's media empire is expected to be aggressive and detailed, with the potential for more revelations about the inner workings of British tabloid journalism.
Mizuho Report Finds No Cover-Up of Gangster Loans


Mizuho Report Finds No Cover-Up of Gangster Loans


Used-car dealers, through a finance company affiliated with Mizuho, made at least $2 million in small loans to buyers with links to organized crime, but there is no evidence that Mizuho officials intentionally tried to hide the loans, a report found.
A banner celebrating Twitter's coming public offering inside JPMorgan's headquarters.


Twitter Prepares to Feed New Hunger for I.P.O.'s


The social media giant is entering one of the strongest markets for initial public offerings in three years.
. DealBook: Twitter Visits Wall St. to Preview I.P.O. Roadshow
. Wealth Matters: Twitter Tantalizes, but Beware the I.P.O.
For more business news, go to

Making Robots More Like Us


In a shift away from robots made to perform in factories, designers are putting the 'human' into humanoids so that they can safely interact in public.
Bradford Shellhammer and Jason Goldberg, both standing, started, a designer e-commerce site, which received an investment earlier this year from the Chinese Internet conglomerate Tencent Holdings.


Are Eager Investors Overvaluing Tech Start-Ups?


A sign that enthusiasm might be getting ahead of reality: the number of Internet companies valued at more than $1 billion even though they have no profits.
A graphical representation of one person's network neighborhood on Facebook.

Bits Blog

Researchers Draw Romantic Insights From Maps of Facebook Networks


Two computer scientists found that spouses and romantic partners in the strongest relationships tend to act as bridges to different parts of a person's social world.
For more technology news, go to
Sebastian Vettel celebrated after winning the India Formula One Grand Prix.
Vettel Wins Grand Prix in India and His 4th Title


Sebastian Vettel won the Indian Grand Prix on Sunday, giving him his sixth victory in a row this season, his third victory in a row in India, and most importantly, his fourth world drivers' title in a row.
Luis Suarez showed his appreciation to the fans after scoring a hat trick for Liverpool.
From Mutineer to Magician for Liverpool


The decision by Liverpool's owner and its manager to retain the services of Luis Suárez is looking like the right call, despite his formerly rebellious ways.
Members of the West Side Runners club awaiting the start of Grete's Great Gallop, a half marathon held every year in Central Park.
Marathon as Melting Pot


The membership of West Side Runners, a top New York City running club, is made up of mostly working class immigrants who find marathons less of a trial than their hardscrabble lives.
. Photographs  Slide Show: Fast, Diverse, and Striving
For more sports news, go to

U.S. News
Proponents of both sides of the abortion issue gathered in the Texas State Capitol in July as the Republican-led legislature passed a restrictive new abortion law. A federal judge on Monday blocked an important part of that legislation.
Judge Blocks Part of Texas Abortion Law


The ruling in Federal District Court rejected a provision requiring doctors at abortion clinics to have admitting privileges at a nearby hospital.
Frankie Thevenot, 3, plays with an iPad in his Metairie, La., home.
New Milestone Emerges: Baby's First iPhone App


As adults turn increasingly to mobile devices like smartphones and tablets, so do their children, a survey shows.
. Disney Show Will Appear First on App for Tablets
F.D.A. Shift on Painkillers Was Years in the Making


The F.D.A.'s move to tighten restrictions for prescribing painkillers is a rare victory by lawmakers from states hard hit by prescription drug abuse over well-financed lobbyists for business and patient groups.
For more U.S. news, go to


Op-Ed Contributor

Confronting the Legacies of Slavery


Calls in the Caribbean for reparations are an occasion to face the many ways in which the past continues to shape the present.
Roger Cohen

Op-Ed Columnist

Fury in the Kingdom


Alarm grows in Saudi Arabia over a possible U.S.-Iranian deal. Saudi rage does not serve American interests.
. Columnist Page
Paul Krugman

Op-Ed Columnist

The Big Kludge


Why isn't the Obamacare system simpler? Politics, mainly.
. Columnist Page | Blog
For more opinion, go to

DealBook P.M. Edition October 28, 2013: White Collar Watch: Goldman, Feeling Robbed, Still Has to Pay for Accused's Defense

Monday, October 28, 2013
Goldman, Feeling Robbed, Still Has to Pay for Accused's Defense
White Collar Watch: Goldman, Feeling Robbed, Still Has to Pay for Accused's Defense The bank's bylaws require it to advance the legal fees of an ex-employee accused of stealing computer code. The case may a wider examination of bylaws, writes Peter J. Henning.
    Mizuho Report Finds No Cover-Up of Gangster Loans
    Mizuho Report Finds No Cover-Up of Gangster Loans Used-car dealers, through a finance company affiliated with Mizuho, made at least $2 million in small loans to buyers with links to organized crime, but there is no evidence that Mizuho officials intentionally tried to hide the loans, a report found.
    AMC Networks to Acquire Chellomedia From Liberty Global
    AMC Networks to Acquire Chellomedia From Liberty Global The $1.04 billion deal gives AMC access to an array of television networks distributed in 138 countries while providing opportunities to distribute its programming.
    Security Firm G4S Rejects $2.5 Billion Offer for Cash Transport Unit
    Security Firm G4S Rejects $2.5 Billion Offer for Cash Transport Unit The security company says it will not pursue the "highly opportunistic" offer from the British private equity firm Charterhouse Capital Partners.
    Reuters Breakingviews: Another Way Samsung Can Copy Apple The South Korean giant has almost $40 billion in cash. It can afford to mimic Apple by giving more to investors, writes Una Galani.
    Buzz Tracker
    Mosaic to Buy Phosphate Business The Mosaic Company said on Monday that it would buy the phosphate business of the rival fertilizer company CF Industries Holdings for $1.2 billion in cash. The assets that Mosaic will acquire are all in Florida.
    Oil Earnings Big Oil has been struggling of late with mediocre domestic natural gas prices and increasing difficulty in finding new reserves in politically stable countries around the world. How they are managing will come into sharper focus when BP, Exxon Mobil and Royal Dutch Shell report their third-quarter earnings through the week. BP continues its comeback from the 2010 Deepwater Horizon disaster, while Exxon Mobil is trying to satisfy shareholders who are growing more impatient with its lackluster stock performance.
    Federal Reserve The Federal Reserve's summer flirtation with a retreat from its stimulus campaign seems an increasingly distant memory. The Fed's policy-making committee is expected to announce on Wednesday that it will continue at full speed. With crucial economic data scrambled by the shutdown, leaving the Fed with little guidance, no change is likely until next year.
    Facebook Earnings Facebook, the world's largest social network, will report its third-quarter earnings on Wednesday, and Wall Street will be watching to see if the company can keep up its recent rapid growth. The company's stock has doubled since its last earnings report in July, when it noted that 41 percent of its revenue was coming from mobile devices, up from nothing a year ago.
    Auto Earnings General Motors and Chrysler are scheduled to report healthy third-quarter earnings on Wednesday as the two American automakers continue their revival since their bankruptcies and government bailouts four years ago. Both companies are making the bulk of their profits from the resurgent market for new vehicles in the United States. 

    Quotation of the Day
    "It's an extremely big problem that the outside panel has said there were relations with antisocial forces."
    Taro Aso, who heads Japan's Finance Ministry, using a euphemism for organized crime while discussing a report on the Mizuho Financial Group.


Wall Street at Close Report by MarketWatch October 28, 2013: S&P Up For 8th Day in 9; Dow, Nasdaq Flat.

By Victor Reklaitis, MarketWatch 
NEW YORK (MarketWatch)U.S. stock indexes posted a narrowly mixed finish in choppy trading Monday, with the S&P 500 setting a record high for a second straight session after an industrial-production reading beat expectations but a pending-home-sales gauge missed forecasts. 

Investors also are focused on after-the-bell results from Apple Inc. and a Federal Reserve meeting later this week. 

The S&P 500 SPX +0.13%   rose 2.34 points, or 0.1%, to 1,762.11. Consumer staples and health care were among the best-performing S&P 500 sectors, while utilities and materials lagged. The benchmark slightly extended its record run by topping Friday’s all-time high

The Dow Jones Industrial Average DJIA -0.01% slipped in late action, giving back 1.35 points, or less than 0.1%, to 15,569.93. Procter & Gamble Co. PG +0.00%   and Coca-Cola Co. KO -0.23%   led among blue chips, while Merck & Co. MRK -0.13%   and United Technologies Corp. UTX +0.18%  were laggards. 

The Nasdaq Composite COMP -0.08%   edged 3.23 points lower, or 0.1%, to 3,940.13. The tech-heavy index got a modest boost from Apple AAPL -2.24%  , which rose 0.7%. 

Bruce Bittles, chief investment strategist at Robert. W. Baird & Co., said stocks have been supported somewhat by better-than-expected third-quarter earnings, but the primary driver is still the Federal Reserve’s bond-buying program that he predicted “is going to be with us at least through March.” 

“I think temporarily the economic data is going to be irrelevant,” Bittles told MarketWatch on Monday, noting the U.S. government shutdown has led to many delayed economic reports. Such issues with the economic data, along with a weak September jobs report, will contribute to the Fed deciding to stay the course with its bond buys during its two-day meeting that ends Wednesday, Bittles added. That fits with the overwhelming consensus among Fed watchers

“I don’t expect anything of substance or any market-moving rhetoric to come out of the Fed,” Bittles said. He also pointed out that Fed Chairman Ben Bernanke is near the end of his term and therefore unlikely to “rock the boat.” 

In addition, the investment strategist sees seasonal patterns helping stocks. Historically, stocks in general have performed well in November and December and rarely have reversed to the downside during those two months, according to a Baird research note out Monday. 

“The seasonal patters or cyclicals are certainly in favor of a continuation of this rally into January,” Bittles said. 

Meanwhile, analysts at Monex Capital said they see plenty of market drivers in the coming week.
“Optimism over corporate earnings and the fact that there’s no end in sight to the lax monetary policy of the Fed have combined to leave equity traders on the front foot as the new week gets under way,” the analysts said in a note. 

“With a hectic week of economic and corporate data from the U.S. on the cards, there’s going to be no shortage of drivers to provide some meaningful direction,” they added. 

Apple  Image
Apple results are due after the close.
Apple’s shares fell nearly 3% in after-hours action. After the bell, the company said earnings fell 8.5% in the fiscal fourth quarter but came in higher than Wall Street expected. The company said it shipped 33.8 million iPhone units during the period. 

Investors also will zero in on what’s ahead for Apple, whose stocks has gained about 25% since its last quarterly report. 

“We believe the core focus will be on December guidance, since Apple already reiterated the high end of its guidance for September ($34-$37 billion in revenue) following the iPhone 5S launch,” said Gene Munster at Piper Jaffray. 

 Other notable companies reporting earnings on Monday include Merck, Seagate Technology PLC STX -5.50% and Burger King Worldwide Inc. BKW +0.93%   

Before the open, Merck posted a drop in third-quarter profit and revenue. The stock traded 2.6% lower in Monday’s session. 

Shares of Seagate Technology Inc. STX -5.32%  managed a 0.1% gain in Monday’s regular session, but dropped more than 5% in after-hours activity. The company, after the closing bell, said fiscal first-quarter profit and revenue slipped, coming in below consensus forecasts. 

Burger King jumped nearly 6% after the fast-food chain posted significantly fewer operating expenses and as same-store sales increased in its international regions. 

Among other movers, Bristol-Myers Squibb Co. BMY +6.66%  rose 6.7% after the drug maker over the weekend reported “encouraging” Phase 1 results in its trial for lung-cancer drug nivolumab. 
Morgan Stanley upped its view on the stock to overweight and said the company “is the leading contender to transform cancer treatment with new drugs that boost the immune system.” J.P. Morgan reiterated its overweight rating. 

Loews Corp. L -0.21%  slipped 0.2% after the company said third-quarter earnings rose 59%, as its CNA Financial Corp. CNA +2.09% insurance unit increased its revenue from insurance premiums.
In buyout news, Mosaic Co. MOS +0.02%   agreed to buy the Florida phosphate business of fellow fertilizer company CF Industries Holdings Inc. CF +0.13%   for $1.4 billion in cash. Mosaic rose 1.6%, while CF jumped 4.2%. 

In economic news, the latest headline number for industrial production beat expectations, but economists were disappointed with the details of the report. A pending-home-sales gauge missed forecasts, touching its lowest level in nine months. 

There were no Fed speakers on tap as the central bank prepares for its policy-setting meeting on Tuesday and Wednesday.

In other financial markets, gold and crude-oil prices rose slightly, while the dollar DXY +0.17%  inched higher. Most Asia markets closed higher, but European indexes lost ground.
Victor Reklaitis is a New York-based markets writer for MarketWatch. Follow him on Twitter @VicRek. Sara Sjolin contributed to this report.