E Bull In A China Bourse

NTDOY has its fans too, notably Haruka Mori of JP Morgan who likes the Switch. She thinks Nintendo can rise all of 7%, nowhere near what CS expects from little-known DNACF which is at a mere 18x earnings now.

*Infosys (INFY) is being sued in Plano Texas for allegedly favoring Indian employees and discriminating against white ones including the plaintiff, who is a former employee. INFY is in the sights of opponents of quickie visas for Indian experts to the USA and this case will not help matters. While Infosys is barely up YTD in rupees its long-term profits depend on foreign investors, and on its board getting its act together. We are exiting because I don't see this happening.

*Autoliv (ALV) of Sweden won a neutral recommendation from Guggenheim Securities which resumed ALV coverage and set a $102 target price.

Non-DJ Industrials

*Orocobre (OROCFof Australia reported that it has has to suspend lithium production in Chile because snow closed the Paso de Jama through which it sends soda ash and lithium carbonate from its Argentina mine. Its contingency stockpile of soda ash and alternative Argentina suppliers were not enough to cover production in Olaroz  the period during which the pass was closed. As a result, the current Q2 FY 2017-8 production level for ltihium carbonate willl be 2,400-2,500 metric tonnes and the full year proeduction 11,700-11,800 tonnes, both off about 8%.

*COPA (CPA) of Panama seems to have cut back on its orders for Boeing 737 MAX aircraft at the Paris Air Show, amidst boasts of record sales by the US planemaker and Airbus. CPA converted its earlier order for fifteen 737s into single order for a 737 Max 10s.

*Eduardo Garcia reports that Cemex will become a major cement supplier for the new rail cross at Waterloo Station here in London where the Progress Rail sub of Caterpillar is contractor. The complex program will use lots of cement as there will we 10 lines crossing with 1,800 meters of new rail, to handle 99 mn journeys. The amount of the CX contract was not revealed. Eduardo edits sentidocomun.co.mx with which we trade news.

*Post-merger, fertilizer makers and marketers Agrium (AGUand Potash of Saskatchewan (POTwill rename their company Nutrien.

*Schlumberger Ltd (SLBof the Dutch Antilles is down 9% from its 50-day average at $65.47 but not repeat not below $60 as reported yesterday. Barclays downrated SLB to equal weight from overweight.

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