Ed’s Daily Notes for June 2nd   Leave a comment

For the week ahead, the earnings reports are small fish: The largest company reporting earnings is Dollar General (DG) on Tuesday. Fortunately, we will get the monthly U.S. Employment Report on Friday (not that anyone is paying attention to the economy…).

Fox News: Obama to announce controversial emissions limit on power plants

Bad news for power utility stocks:

The Obama administration is set to announce a rule Monday to limit carbon emissions in thousands of fossil-fuel burning plants across the country, a cornerstone of President Obama’s climate-change agenda and his first-term promise to reduce such emissions by 17 percent by 2020.

The Environmental Protection Agency will ask existing plants to cut pollution by 30 percent by 2030, according to people familiar with the proposal who shared the details with The Associated Press on condition of anonymity, since they have not been officially released.

The draft rule, which sidesteps Congress, will go into effect in June 2016, following a one-year comment period. States will then be responsible for executing the rule with some flexibility.

…If a state refuses to create a plan, the EPA can make its own.

In other news:

Bloomberg: Samsung Unveils First Smartphone Using Tizen System

Samsung Electronics Co., the world’s largest maker of mobile devices using Google Inc.’s Android software, will release its first smartphone using the Tizen operating system about a year later than planned.

The Samsung Z will be available in Russia in the third quarter before expanding to other markets, the Suwon, South Korea-based company said in a statement today. The device will have a 4.8-inch screen and will be on show at the Tizen developer conference in San Francisco tomorrow.

Tizen, which is being developed with companies including Intel Corp. (INTC) and Vodafone Group Plc (VOD), is an open-source alternative to Android, the most popular smartphone operating system. Asia’s biggest technology company previously said its first phone using the platform would be released by the end of September 2013 as it seeks to spark consumer demand amid slowing shipment growth and competition from cheaper Chinese producers.

“Samsung is trying to do anything to fill in the gaps in the third quarter but I don’t think the Tizen phone will give a big boost to Samsung’s overall smartphone sales,” Lee Do Hoon, an analyst at CIMB Group Holdings Bhd (CIMB) in Seoul, said by phone. “The release of the new phone is nothing more than symbolic as it’s at a very early stage.”

I have to agree with the analyst: It is far too early to tell whether Tizen will make an impact.

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Posted June 2, 2014 by edmcgon in Economy, News, Technology

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