HALISTER: Macy’s Will Transition CEO Role to Gennette in 1Q 2017

Macy’s Will Transition CEO Role to Gennette in 1Q 2017

(Bloomberg) -- Macy’s CEO Terry J. Lundgren will transition CEO role to Jeff Gennette in 1Q 2017 as part of succession plan.
  • Beyond 1Q, Lundgren will continue as Executive Chairman and work side-by-side with Gennette as President and CEO
Statement:Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
M US (Macy's Inc)

People
Jeffrey Gennette (Macy's Inc)
Terry Lundgren (Macy's Inc)

Topics
Who's News - People

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UUID: 7947283

(2) *MACY’S JEFF GENNETTE TO BECOME CEO; LUNDGREN REMAINS CHAIRMAN

*MACY’S JEFF GENNETTE TO BECOME CEO; LUNDGREN REMAINS CHAIRMAN

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
M US (Macy's Inc)

People
Jeffrey Gennette (Macy's Inc)
James Sluzewski (Macy's Inc)
Matt Stautberg (Macy's Inc)
Terry Lundgren (Macy's Inc)

Topics
Management Changes
Who's News - People

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UUID: 7947283

HALISTER1: UST MORNING CALL: Treasury Declines Seen as Buying Opportunity

UST MORNING CALL: Treasury Declines Seen as Buying Opportunity

(Bloomberg) -- Focus on U.K.’s EU referendum vote outcome; Treasuries slide with gilts overnight as stocks rally; some analysts see it as a buying opportunity.
  • Any selloff toward top end of 1.70%-1.75% range will be well-supported as underlying domestic economic concerns aren’t Brexit-related, wouldn’t jump on a selloff as U.S. has own issues to deal with, RBS’s John Briggs writes in client note
  • View back-up in yields as a buying opportunity, particularly as 10Y approaches 1.80%, given Yellen’s dovish testimony along with relatively high-yielding govt debt and continued softening of inflation expectations, Seaport Global’s Tom Digaloma writes
  • U.S. rates discount 75% of recent payroll decline, 90% of FOMC outcome; no visible catalyst for upside break in stocks; commodities not flashing inflation warnings, buying bonds here is the smart move, FTN’s Jim Vogul writes in client note
  • Remain neutral duration as outcome of EU referendum still appears too close to call, JPMorgan’s Jay Barry writes in note
  • Technicals:
    • Resistance: 131-20 (June 20 high); 131-26 (June 17 low); 132-03+ (June 16 low)
    • Support: 130-16+ (61.8% Fibo of May 31-June 16 rally)
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jay Barry (JPMorgan Chase & Co)
Jim Vogel (Ftn Financial)
John Briggs (RBS Securities Inc)
Tom Di Galoma (Seaport Group LLC/The)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: Jobless Claims Due in 5 Minutes

U.S. ECO PREVIEW: Jobless Claims Due in 5 Minutes

(Bloomberg) -- Initial jobless claims seen at 270k in wk ended June 18 vs 277k prior wk (forecast range 255k to 280k)
  • Prior week’s total was highest in month
  • Today’s report coincides with govt’s monthly employment survey
  • “Any sizable increase in claims could signal that the soft May payrolls result was not a statistical anomaly, but the beginning of potential labor market weakness": Bloomberg Intelligence
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Costco, Citi Deluged by Complaints in Rocky Credit-Card Rollout

Costco, Citi Deluged by Complaints in Rocky Credit-Card Rollout

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
C US (Citigroup Inc)
COST US (Costco Wholesale Corp)
AXP US (American Express Co)

People
Richard Galanti (Costco Wholesale Corp)
Scott Mushkin (Wolfe Research LLC)
Simeon Gutman (Morgan Stanley)

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UUID: 7947283

HALISTER1: Hungary’s Central Bank Fines Equilor Brokerage 70 Million Forint

Hungary’s Central Bank Fines Equilor Brokerage 70 Million Forint

(Bloomberg) -- National Bank of Hungary imposes fine on Budapest-based brokerage Equilor for violation of prudential and consumer protection rules, according to statement on financial regulator’s website.
  • Equilor didn’t abide by laws on separate handling of assets of brokerage and clients, didn’t meet all requirements on identifying clients with regard to laws against money laundering
  • Violations didn’t cause damage to clients, didn’t have impact on financial stability
  • Equilor received NBH ruling, examining its details and reasoning, brokerage says by e-mail, without commenting further
  • NOTE: Equilor was 4th largest brokerage in Hungary in January-May period on spot equity market, according to Budapest Stock Exchange data
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
335946Z HB (Budapest Stock Exchange)

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UUID: 7947283

HALISTER: Tudor-Backed Firm Sues Merrill After Tax Trades Only Yield 46%

Tudor-Backed Firm Sues Merrill After Tax Trades Only Yield 46%

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BAC US (Bank of America Corp)
13789Z US (Tudor Investment Corp)

People
Field Pickering (Vulpes Investment Management Pte Ltd)
Paul Jones (Tudor Investment Corp)
Stuart Hendel (Bank Of America Corp)
William Halldin (Bank of America Corp)

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UUID: 7947283