Halister News

(Bloomberg) -- Following are forecasts for today’s economic releases as compiled by Bloomberg News.

• Retail sales 0.1% m/m; range -0.2% to 0.3% (76 estimates)
• Retail ex-autos 0.2% m/m; range -0.3% to 0.4% (69 estimates)
• Retail ex- auto/gas 0.4% m/m; range 0.1% to 0.5% (21 estimates)
• Retail control 0.3% m/m; range 0.2% to 0.6% (26 estimates)
• In May, retail sales dropped 0.3 percent, the second loss since the start of the year; weakening auto sales could "dent GDP growth this year": Bloomberg Intelligence
• CPI 0.1% m/m; range -0.2% to 0.2% (79 estimates)
• Core CPI 0.2% m/m; range 0.1% to 0.3% (76 estimates)
• CPI 1.7% y/y; range 1.5% to 1.9% (43 estimates)
• CORE CPI 1.7% y/y; range 1.6% to 1.9% (41 estimates)
• CPI Index NSA 245.104; range 244.829 to 245.322 (14 estimates)
• In May, the CPI fell 0.1 percent, the second decline in three months; core CPI rose just 0.1 percent; Fed officials could be prodded to consider scaling back on further rate increases, if core CPI weakens: Bloomberg Intelligence

To contact the reporters on this story: Alex Tanzi in Washington at atanzi@bloomberg.net; Vincent Del Giudice in Denver at vdelgiudice@bloomberg.net To contact the editors responsible for this story: Alex Tanzi at atanzi@bloomberg.net Kristy Scheuble

(Bloomberg) -- Citigroup 2Q EPS $1.28 vs est. $1.21 (range $1.16-$1.25).

• Rev. $17.9b vs est. $17.4b; global consumer banking rev. up 5% y/y, institutional clients group rev. up 6% y/y, corporate/other rev. down 45% y/y
  • Fixed income markets rev. $3.215b vs est. $2.976b (Bloomberg survey of 8 ests.)
  • Equity markets rev. $691m vs est. $739.4m (Bloomberg survey of 8 ests.)
  • Investment banking rev. $1.486b vs est. $1.22b (Bloomberg survey of 7 ests.)
• CEO Michael Corbat: "Our Institutional Clients Group had a very strong quarter all-around, including its best Investment Banking performance in seven years."
  • "We are clearly on course to increase both the return on capital and return of capital for our shareholders"
• ROE 6.8% vs 7.0% y/y
• Allowance for loan losses $12b at quarter end (1.88% of total loans) vs $12.3b y/y
• End of period loans $645b, up 2% y/y
• Cost of credit $1.7b, up 22% y/y
• Deposits $959b at quarter end, up 2% y/y
• Operating expenses $10.5b vs $10.4b y/y
• Efficiency ratio 59%, unchanged y/y
• CET1 ratio 13% vs 12.5% y/y
• Book value per share $77.36 vs $73.19 y/y
• Repurchased 29m common shares
• Conf. call 11:30am, 866-516-9582, pw 12260944
• NOTE: Earlier, JPMorgan 2Q FICC Sales & Trading Revenue Miss Estimates
• NOTE: July 13, PREVIEW BANKS 2Q: JPMorgan First in Season Pegged to Trump Hopes

Statement link To contact the reporter on this story: Lily Katz in New York at lkatz31@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Will Daley

(Bloomberg) -- JPMorgan reported FICC sales & trading revenue for the second quarter that missed the average analyst estimate.

• 2Q FICC sales & trading revenue $3.22 billion, estimate $3.25 billion (Bloomberg News)
• 2Q EPS $1.82
• 2Q equities sales & trading revenue $1.59 billion, estimate $1.62 billion (Bloomberg News)
  • 2Q investment banking revenue $1.70 billion, estimate $1.65 billion
• 2Q adjusted revenue $26.41 billion, estimate $25.44 billion (range $25.1 billion to $26.18 billion)
• 2Q Basel III common equity Tier 1 ratio 12.5%, estimate 12.42% (range 12.25% to 12.6%)
• 2Q return on equity 12%
• 2Q net yield on interest-earning assets 2.31%, estimate 2.37%
• 2Q compensation expenses $7.71 billion, estimate $7.96 billion
• 2Q provision for credit losses $1.22 billion, estimate $1.33 billion
• 2Q EPS Has $406m Benefit From Legal Settlement
• Says 'U.S. Consumer Remains Healthy'
• JPMorgan; Mkts rev. down Amid Lower Volatility, Client Activity

NOTE:

• Shares up 0.6% since earnings release to $94.30 on 4,649 shares traded
• 15 buys, 15 holds, 3 sells before today
• Call 8:30am (NY time), (866)-541-2724

Statement Statement This story was produced with the assistance of Bloomberg Automation.

(Bloomberg) -- Macau casino operators, including 4-U.S. listed names (Wynn Resorts, MGM, Las Vegas Sands, Melco Resorts), as well as those listed in Hong Kong (Wynn Macau, Sands China, MGM China, Galaxy, SJM) may come under pressure after one of Macau’s largest junket operators warned customers, key staff of "liquidity channel impairment, advised clients to withdraw money from affected bank accounts," Daiwa analyst Jamie Soo writes in note.

• Junket operator memo highlighted increased enforcement of anti- money laundering initiatives in both China and Macau, Soo said, citing channel checks
  • Enforcement actions included large-scale investigations into questionable money transfers, freezing of numerous bank accounts
• Soo believes move likely followed "impairment of the junket’s affiliated cross-border funding channels such as underground banks"
• View of expected further heightening of enforcement "continues to be reaffirmed given the events we have witnessed over the past six months"
• View on sector is neutral, with Sands China the only buy-rated stock
• LVS drops 2.3% pre-market; WYNN, MLCO, MGM haven’t traded
• NOTE: July 13, Gaming-related crime situation in Macau remains “serious”, the director of Judiciary Police Chau Wai Kuong said in a speech on Wednesday: GGR Asia website
  • Chau said police have strengthened patrols, have seen "increase in the number of cases of unlawful detention related to loan-sharking operations”
• NOTE: July 3, Macau gaming shares may move as UnionPay cardholders can only get cash at ATMs installed with facial-recognition software in Macau from July 4
• NOTE: July 2, Macau Casino Revenue Growth Misses as Xi Visits HK: Street Wrap

To contact the reporters on this story: Janet Freund in New York at jfreund11@bloomberg.net; Daniela Wei in Hong Kong at jwei74@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Janet Freund