- Grillo Says Party to Vote Only for 5 Star Italian Government. Italy’s Five Star Movement will only provide voting support for a new government that it leads, said the populist group’s founder, Beppe Grillo. Five Star “won’t back a technocratic government” in a vote of confidence, Grillo said today in a post on his website, commenting on possible support for an administration of non- elected figures. “The only solution we propose is a government of the 5 Star,” Vito Crimi, the head of the party’s senators, said in the same post.
- Euro-Area Services Output Contracts Less Than Estimated. Euro-area services output shrank less than initially estimated in February, adding to signs the currency bloc’s economy may be beginning to emerge from a recession. An index based on a survey of purchasing managers in the euro-area services industry fell to 47.9 from 48.6 in January, London-based Markit Economics said in a report today. That’s above an initial estimate of 47.3 published on Feb. 21. A reading below 50 indicates contraction. Euro-area retail sales rose the most in three years in January, separate data showed.
- Qualcomm(QCOM) Boosts Dividend by 40%, Sets $5 Billion Buyback. Qualcomm Inc. boosted its dividend by 40 percent and set up a $5 billion share buyback plan, rewarding investors after rising demand for smartphones that run on its technology spurred sales growth. The quarterly cash dividend will increase to 35 cents from 25 cents, Qualcomm, the largest seller of semiconductors for mobile phones, said in a statement today. The new share repurchase plan replaces an older $4 billion plan that had $2.5 billion remaining.
- Druckenmiller says ‘it’s going to end very badly’. Hedge-fund legend Stan Druckenmiller suggested Tuesday that the market’s current surge could continue for a while, but is likely to end — and end badly.
Zero Hedge:
- China's "State Of The Union" Address Warns Of Tepid Growth, Sees Larger Deficit, Hawkish On Housing.
- The Last Time The Dow Was Here...
- Non-Manufacturing ISM Has Highest Print Since February 2012, 8 Beats In A Row.
- FBI And SEC Team Up To Take Down HFT.
- China's Wahaha Billionaire Says Capital Markets "Suck".
- JPMORGAN: The 'Slowdown In Consumer Spending Has Arrived'.
- Scary New Satellite Pictures Of China's Ghost Cities.
- GOLDMAN(GS): Apple(AAPL) Is The Most Undervalued Stock We Cover.
- iPhone 5S planned for August, next iPads may debut as soon as April. iMore has learned that Apple is planning the release of the iPhone 5S for this summer, currently for August. Next generation iPads, presumably the iPad 5 and potentially the iPad mini 2, may also debut as soon as this April.
- Italy February Services PMI 43.6, MNI Says. France February Services PMI 43.7, MNI Says. Euro-Area February Composite PMI 47.9, MNI Says.
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