(BFW)Yellen Hopes for 3% GDP in ’14; QE Isn’t ˜Just’ for Rich

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MORE: Yellen Hopes for 3% GDP in ’14; QE Isn’t ‘Just’ for Rich 2014-01-09 12:34:49.17 GMT

By Felice Maranz Jan. 9 (Bloomberg) -- Fed chair Janet Yellen tells Time she, most on FOMC are hopeful GDP growth 1st digit “could be 3 rather than 2” this yr. * Says QE aimed at damping long-term rates, supporting recovery by encouraging spending * "You know, a lot of people say, this [asset buying] is just helping rich people. But it’s not true’’ * Some stimulus comes via higher home, stock prices, “which causes people with homes and stocks to spend more, which causes jobs to be created throughout the economy” * Calls Dodd-Frank “good roadmap,” may also need “some further steps” * NOTE: Jan. 6, Senate confirmed Yellen; Bernanke’s term expires Jan. 31 * Article: http://ti.me/1gki0Mw (subscription required)

Link to Company News:LEN US <Equity> CN <GO> Link to Company News:PHM US <Equity> CN <GO> Link to Company News:DHI US <Equity> CN <GO>

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To contact the reporter on this story: Felice Maranz in New York at +1-212-617-8118 or fmaranz@bloomberg.net

To contact the editor responsible for this story: Joanna Ossinger at +1-212-617-7789 or jossinger@bloomberg.net

(Pimco) W.H.Gross - Jan 2014 Seesaw Rider

There’s 50 ways to leave your lover and maybe more than that to lose your money or “break the buck,” as some label it in the money markets. You can buy the Brooklyn Bridge, bet on the Cubs to win the World Series or have owned 30 year Treasury bonds in 2013, to name just a few. But bridges and baseball aside, what you’re probably interested in hearing from me is how to avoid breaking your investment buck in 2014.

1) Total return bond portfolios should float above water in 2014.
2) No guarantees either!
3) Watch PCE inflation more than the unemployment rate.
4) Emphasize credit, volatility, currency and 1-5 year maturities.
5) Expect 3-4% total return for bonds.
6) If you think stocks will keep going, then keep riding. But seesaws go up and down!

>>> US Early premarket gappers

Early premarket gappers

Gapping up: SQNM +13.8%, FRO +10.6%, MG +6.5%, M +6.1%, NVMI +5.8%, TGB +4.2%, FRX +3.5%, SIRI +2.7%, PBR +2.5%, MCK +2.5%, RT +2.3%, EHTH +2.3%, NOK +1.7%, ACT +1.6%, GSK +1.5%, RYAAY +1.3%, COST +1.3%, JWN +1.2%, GG +1.2%, BP +1.2%, DDD +0.9%, NVS +0.6%

Gapping down: MATR -20.9%, PLUG -15.8%, YRCW -14.3%, AEZS -11.6%, CALX -10.9%, BBBY -8.7%, IDN -8%, ZUMZ -7.4%, VOXX -5.4%, QIHU -4.3%, EXFO -4.2%, QDEL -3.9%, ROVI -3.3%, BXMT -2.4%, TWTR -2.2%, DEO -2.2%, WSM -2.1%, GOLD -1.6%, VRTU -1%, WDFC -0.7%

>>> Family Dollar misses by $0.01, reports revs in-line; guides Q2 EPS below con

Family Dollar misses by $0.01, reports revs in-line; guides Q2 EPS below consensus; lowers FY14 sales/EPS guidance below consensus; COO Bloom departs; promotes Reiser to Chief Merchandising Officer

Reports Q1 (Nov) earnings of $0.68 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.69; revenues rose 3.2% year/year to $2.5 bln vs the $2.51 bln consensus.

  • Sales were strongest in the Consumables category, which increased 4.7% during the quarter, driven primarily by strong growth in refrigerated and frozen food, health aids, and tobacco.
  • Comparable store sales for the comparable 13-week period ended November 30, 2013 decreased 2.8% as a result of decreased customer transactions and a slight decrease in the average customer transaction value.
  • Gross profit for the quarter increased 3.6% to $856.8 million, or 34.3% of net sales, compared to $826.8 million, or 34.1% of net sales, in the first quarter of fiscal 2013. As a percentage of sales, higher markups and lower freight expense were partially offset by the impact of stronger sales of lower-margin consumables, increased inventory shrinkage, and higher markdowns.

Co issues downside guidance for Q2, sees EPS of $0.85-0.95 vs. $1.21 Capital IQ Consensus Estimate, with a low single digit decline in comps.

Co issues downside guidance for FY14, lowers EPS to $3.25-3.55 from $3.80-4.15 vs. $3.98 Capital IQ Consensus Estimate;

Co lowers FY14 net sales guidance to a low-to-mid single digit increase from a mid-single-digit increase, excluding the impact of the extra week in fiscal 2013; lowers comp guidance to a low-single digit decline from a low single digit increase (consensus +1.4%)

Co announced that Michael Bloom, President and Chief Operating Officer, has left the Company to pursue other interests. The co will conduct a search for a new President and Chief Operating Officer.

Co has promoted Jason Reiser to the position of Executive Vice President - Chief Merchandising Officer.

(RTR) Iran's Khamenei says nuclear talks show U.S. enmity

(Reuters) - Iran's Supreme Leader Ayatollah Ali Khamenei said on Thursday that nuclear negotiations with world powers had revealed U.S. enmity towards the Islamic state.
Khamenei was speaking hours before the resumption of talks between Iran and the European Union in Geneva.
"We had announced previously that on certain issues, if we feel it is expedient, we would negotiate with the Satan (the United States) to deter its evil," Khamenei told a gathering, reported by the official IRNA news agency.
"The nuclear talks showed the enmity of America against Iran, Iranians, Islam and Muslims."
Iran and the EU hold talks in Geneva on Thursday to discuss the practical details of implementing a nuclear agreement reached in Geneva in November. U.S. Undersecretary of State for Political Affairs Wendy Sherman is also due to take part.
The Geneva deal was designed to halt Iran's nuclear advances for six months to buy time for negotiations on a final settlement. Scope for diplomacy widened after Iran elected the pragmatic Hassan Rouhani as president in June. He had promised to reduce Tehran's isolation and win an easing of sanctions.
Despite fierce criticism by political and religious hardliners, who see the agreement as an infringement of Iranian sovereignty, Khamenei had previously backed the accord.
Under the deal, Iran will curb its atomic activities in return for some easing of the international sanctions that have battered the oil producer's economy.
Iran says its nuclear work is entirely peaceful but the West suspects it is aimed at acquiring a nuclear bomb capability.
NOT PRESSURED BY SANCTIONS
Iran is under U.N., U.S. and European Union sanctions for refusing to heed U.N. Security Council demands that it halt all enrichment- and plutonium-related work at its nuclear sites.
Khamenei said international sanctions imposed on Iran had not pressured the Islamic state to enter negotiations with major powers.
"Our enemies do not know the great Iranian nation. They think that their imposed sanctions forced Iran to enter negotiations. No, it is a wrong," Khamenei said.
Sanctions, though, are clearly having an impact, the country's oil revenue has been slashed and other trade disrupted.
Nuclear experts from Iran and the six powers have held several rounds of talks since November 24 to resolve various technical issues before the interim deal can be put into place.
The experts have to work out when the accord will be implemented. Western diplomats and Iranian officials say the six powers and Iran want to start implementing the deal on January 20.
"First the interim agreement needs to be implemented. I think that by the end of January, or at least I hope, it will be implemented. That's the interim period," said French Foreign Minister Laurent Fabius on Wednesday.
Diplomats told Reuters on Wednesday that the nuclear talks on implementing the landmark November deal have run into problems over advanced centrifuge research, highlighting the huge challenges facing Iran and the six powers in negotiating the precise terms of the deal.
Iran says centrifuge research is crucial. Centrifuges purify uranium for use as fuel in atomic power plants or, if purified further, weapons.
If the talks succeed, they plan to start talks on a long-term deal to resolve a more than decade-long dispute over Tehran's nuclear ambitions.
"The biggest problem will be the next phase because the question that hasn't been dealt with is: Do our Iranians partners want to just suspend production that could lead to them having a nuclear weapon or do they accept to give it up completely?," Fabius said.
"Obviously, the second option is what's acceptable, because the first none of the P5+1 will accept."

(BFW) *ELLIOTT WILL ACCEPT MCKESSON’S INCREASED OFFER FOR CELESIO

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BN 01/09 11:39 *ELLIOTT TO TENDER AT LEAST 27,175,094 SHARES BN 01/09 11:38 *ELLIOTT WILL ACCEPT MCKESSON'S INCREASED OFFER FOR CELESIO BN 01/09 11:38 *ELLIOTT PRESS RELEASE_ELLIOTT WILL ACCEPT MCKESSON'S INCREASED

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*ELLIOTT WILL ACCEPT MCKESSON’S INCREASED OFFER FOR CELESIO 2014-01-09 11:39:23.28 GMT

--GAURAV PANCHAL

-0- Jan/09/2014 11:39 GMT

(HSBC) The 2014 HSBC - Multi Asset Summary

--> Global growth will pick up modestly this year but inflation is surprisingly low
--> We expect global equities to return 9% and fixed income returns of 4-5%
--> We think the dollar’s dominance will expand in scope, and that it will make gains against the euro and sterling

Top 10 Risks for 2014

>> QE uncertainty
*Fed tapers without a strong recovery
*Fed is forced to increase QE
*QE leads to inflation
>> Emerging-market risks
*China hard landing
*EM current-account crisis
>> Developed-market risks
*Abenomics triggers financial instability
*US debt ceiling not raised
*Successful eurozone rebalancing
>>Good/bad price declines
*The spectre of deflation
*Large oil price decline