Last Call: Sneak Peak at the Goldman 'Muppet' Book
Statler: That was wonderful!
Statler: I loved it!
Waldorf: Ah, it was great!
Statler: Well, it was pretty good.
Waldorf: Well, it wasn't bad...
Statler: Uh, there were parts of it that weren't very good though.
Waldorf: It could have been a lot better.
Statler: I didn't really like it.
Waldorf: It was pretty terrible.
Statler: It was bad.
Waldorf: It was awful!
Statler: It was terrible!
Waldorf: Take 'em away!
Statler: Bah, boo!
- The Muppets
— Below, an early review of the first chapter from the book by a disgruntled Goldman Sachs worker who alleged a culture of calling clients "Muppets", is not good.
Market Musings With CNBC Market Guru Robert Hum
Recap: Dow 90.50 ( 0.68%) at 13419.35, S&P 9.23 ( 0.65%) at 1437.82, Nasdaq 13.98 ( 0.46%) at 3058.09
Bucking recent trend, stocks finish at the highs of the day.
Dow has best day in a month, Nasdaq snaps 6-day losing streak after solid earnings and better-than-expected retail sales data.
Telecoms sit out rally as struggles continue; sector down for 7th straight day after having its worst week in 3.5 years last week.
Dow, S&P 500 nearly erase October losses with today's gains; both indexes less than 2% away from closing at highest levels in almost 5 years.
Energy in focus as natural gas falls more than 3%, while crude oil dips below $90 before erasing almost all of its losses by end of the day.
Word on the Street Tonight
Two New Drugs Cited in Meningitis Outbreak/WSJ: "The Food and Drug Administration said Monday that two additional drugs may be linked to the multistate fungal meningitis outbreak stemming from steroid injections made by a compounding pharmacy in Massachusetts. The FDA said that a cooling solution made by NECC called cardioplegia, used in heart surgery, and a second injected steroid called triamcinolone acetonide now may be involved in the outbreak. That finding is based on its investigation, along with inquiries by the Centers for Disease Control and Prevention and by state health departments. The triamcinolone injection made by the New England Compounding Center was linked to one case of possible meningitis, the FDA said. It didn't give the location of the new case."
Yahoo Picks Google Official to Head Its Operations/WSJ: "Yahoo Inc. has recruited yet another prominent executive from rival Google Inc . to help oversee its turnaround bid. Yahoo, of Sunnyvale, Calif. said Monday it has hired Henrique de Castro, 47, Google's vice president of partner business solutions, as its new chief operating officer. Mr. de Castro had been rumored to be shifting to Yahoo, where he is reunited with Marissa Mayer, a Google veteran who has served as Yahoo's CEO since July. Mr. de Castro will paid an annual salary of $600, 000, according to a Yahoo regulatory filing, and will receive a one-time retention equity award made up of $18 million in restricted stock and $18 million in performance-based stock options. To make up for compensation left behind at Google, Mr. de Castro will also receive a $1 million cash bonus and restricted stock with a target value of $20 million."
Apple Nabs Amazon A9 Exec Stasior to Run Siri — But Does Hire Signal a Bigger Move Into Search?/All Things D: "Apple has hired major Amazon exec and prominent search technologist William Stasior to run its Siri unit, according to sources. At the online retail giant, Stasior has been in charge of A9, Amazon's search and search advertising unit. The former AltaVista exec co-founded the independent company and has run it since Udi Manber left for Google. The Palo Alto, Calif.-based A9 now provides search for Amazon sites worldwide, as well as other online retail sites.
Leslie Moonves Extends CBS Corp. Employment Contract Through Mid-2017/Hollywood Reporter – Georg Szalai: "The president and CEO's contract would have expired in 2015, with executive chairman Sumner Redstone saying the new deal was "terrific news" for the company. CBS Corp . late Monday unveiled a new employment agreement with president and CEO Leslie Moonves that will keep him in the positions through June 2017. The deal supersedes his prior contract, which was to end in 2015. Under the terms of the new contract, Moonves' salary remains unchanged. He also continues to be eligible for an annual performance-based bonus and will get stock-based compensation to further tie his pay to the performance of the company's stock."
I'd Rather Invest in Russia Than the US: Jim Rogers/CNBC – Justin Menza: "Jim Rogers would rather invest in Russia than the U.S. stock market. "In 2013 and 2014 we're going to have economic problems, " the noted investor told CNBC's "Closing Bell" on Monday. "Either (politicians are) going to raise taxes or they're going to bungle something." He added, "Raising taxes has never made the economy grow." Jim Rogers is shorting U.S. stocks, particularly technology. "Technology has been one of the few places that is very exploited, " he said.
Greg Smith's Boring First Chapter on Goldman Sachs/WSJ – David Benoit: "He should have stopped at the op-ed. Greg Smith, the former Goldman Sachs employee who managed to make himself famous for quitting in a New York Times op-ed, has published his book "Why I Left Goldman Sachs." (Practically the same title as his March op-ed, showing a certain lack of creativity.) The first chapter, now available for preview, is, to put it lightly, boring. …The interns had to carry their tiny stools around to sit, small and awkward, next to traders. One managing director threw out a salad an intern brought him because he had ordered a sandwich, not a salad. The interns faced sessions where executives grilled them with what seem like pointless questions about Goldman Sachs culture and belittled them if they got one wrong. Sometimes, if the interns did poorly, they cancelled SOCIAL EVENTS."
Ex-Murdoch Executive Brooks Given 7 Million Pounds Pay-Off: FT/Reuters: Former newspaper executive Rebekah Brooks received a pay-off totaling more than 7 million pounds ($11.24 million) following her resignation from Rupert Murdoch's British newspaper group last year, the Financial Times said. Brooks, the woman at the heart of a scandal shaking Rupert Murdoch's media empire and the British government, is awaiting trial next year on multiple charges in relation to phone-hacking by reporters at one of her papers. The FT cites two people with knowledge of her compensation as saying the pay-off consisted of cash and pension payments as well as an allowance for legal fees and the use of a chauffeur-driven car. Two of the people cited by the newspaper said the pay-off also included substantial claw-back clauses for her former employer, News International."
On Twitter Board's Agenda: Adding a Woman Director/All Things D - Mike Isaac: "In its continued search to strengthen the company's board of directors, Twitter has placed top priority on adding a woman to the current all-male roster, according to sources close to the situation. A number of female candidates have already been interviewed, but none have been selected, these sources say. It's an obvious logical step for the microblogging service. As Kara Swisher noted nearly two years ago, Web 2.0 companies have few women board members, unlike a number of public tech companies. That includes Google, Apple, Microsoft, Amazon and LinkedIn — major technology companies whose boards include one or more women."
830 Sep CPI
900 Aug TIC data
915 Sep Industrial Production
915 Sep Capacity Utilization
1000 Oct NAHB Survey
Before the Bell:
Coca-Cola, Goldman Sachs, Johnson & Johnson, United Health, Commerce Bancshares, Domino's Pizza, Forest Labs, Mattel, Omnicom, PNC Fincl., State Street, WW Grainger
After the Bell:
IBM, Intel, Apollo Group, Cree, CSX, Intuitive Surgical
Charles Biderman, TrimTabs Investment Research CEO (520a)
David Walker, Comeback America Initiative CEO (700a)
Robert Doll, BlackRcok Senior Advisor (730a)
Donald Trump, Trump Organization Chairman (730a)
William McLean, Northwestern University CIO (835a)
Matthew Roberts, OpenTable CEO (1050a)
Ramy Adeeb, Snip.It CEO (1145a)
Byron Wien, Blackstone Advisory Partners Vice Chairman (1200p)
Wilbur Ross, WL Ross CEO (1230p)
Richard Plansky, Kroll Managing Director (300p)
Robert Zoellick, former World Bank President (310p)
Kevin Warsh, Former Federal Reserve Governor (310p)
Stacy Smith, Intel CFO (420p)
Fabrice Bregier, Airbus CEO (430p)
Rep Marsha Blackburn, R-TN (700p)
Dennis Strigl, Former Verizon President (800p)
Haley Barbour, BGR Group (800p)
Rep Ron Paul, R-TX (800p)
Phil Angelides, Riverview Capital Investments (820p)
Rep Barney Frank, D-MA (1030p)
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