For coverage beginning at 8 00 p. M. Eastern time. Morgan stanley comes up short on Fourth Quarter estimates because of a drop in fixed income trading revenues. Morgan stanley has been shrinking the amount of capital dedicated to its fixed income and commodities division. The imf has made the biggest cut to its Global Growth outlook in three years. The World Economy will now wrote 3. 5 this year down from 3. 8 and i told her. From a sober. From tober. From october. The medium prospects are down. It is squeezing investment. We think this effect is stronger than the price of oil. The one exception and the forecast is the u. S. The fund upgraded its forecast to United States growth to 3. 6 . We might even best market in the world. The numbers are in, 2014 chinese economy grew by the smallest amount in 24 years but it is still at 7. 4 . It would have been worse had the government not added the stimulus efforts like Interest Rate cuts. Those moves help to boost chinese Factory Production an
Stephanies photo bombing. Lets start with the bulletin. The top business stories of this tuesday morning. Morgan stanley posted fourthquarter earnings that missed estimates. A drop in revenue from fixed income trading. They take in about half as much from bond trading as it did in 2006. Delta is flying high on lower fuel costs and rising demand. The Airline Posted better than expected earnings for the Fourth Quarter. Oil prices fell 40 during that. The gains will be limited because of expensive youll hedging contracts. The International Monetary fund has made the biggest cut to its growth outlet outlook. The World Economy will grow 3. 5 this year. That is down from a 3. 8 prediction. Many economies and many emerging markets are revising their prospects now. They are decreasing investment today. We think this is stronger than the price of oil. The exception is the United States. The fund upgraded the forecast for u. S. Growth to 3. 6 . Box office flops may lead to 350 jobs cuts at dream
Matt i did not think about the kind of food. Olivia it got down to the final day without being late. Are you surprised . Matt i am surprised. Good job, 3g. Jello a deal but together by Warren Buffett and 3g. A merger between kraft foods and heinz, creating the thirdlargest food and Beverage Company in north america. Two years ago buffett and 3g acquired heinz. Kraft shareholders will get 49 of the stock plus a special dividend. The craft chairman talked about the advantages. This combination will generate substantial synergies which we currently expect to be about 1. 5 billion, as well as many revenue expansion opportunities domestically and abroad. Matt the heinz chairman talking about synergies. Shares of craft soaring as much as 35 . The company is getting bought. Two americans on the german plane that crashed in the1 french alps5. Germanwings says most of the 150 on board were german or spanish. On a flight from arson limited the plane was on a flight from barcelona to dusseldorf.
Good morning everybody on this thursday here in new york city. Youre watching Market Makers on bloomberg television. Im Erik Schatzker. Stephanie im stephanie ruhle. I am british sure Monica Lewinsky is not my favorite anything i am sure Monica Lewinsky is not my favorite anything. Not my favorite intern or dress owner or mistress. Maybe my favorite beret wea rer . No. Wholesale inventories for february are out and who better to break down those numbers than scarlet fu . Scarlet we have an increase in wholesale inventories of 3 10 of 1 for the month of february from january. Slightly higher than what economists have been looking for. The previous month number also get revised higher to 4 10 of 1 . Wholesale trade sales and unexpected decline of 2 10 of 1 . Thomas for looking for a gain of 3 10 of 1 in the prior month read were revised by bigger than expect to drop. U. S. Stocks coming up a little bit here. Showing a little bit of a leg up. Looking at marginal gains of 1 10 of one perce
We are in for eric and stephanie and they will be back with you tomorrow morning. We have breaking news coming up on housing. Lets get to julie hyman who was in the newsroom. Julie the pending home sales for the month this shows some progress for the housing recovery, especially after we did not have a strong number. Again we were estimating that 1 gain and that was the average of the economist we surveyed. The advance in february with about 3. 1 percent, so it doesnt really slow down from february but it had a worse than estimated number. Remember in terms of Economic Data this morning, this adding to the gdp figure that we got earlier that showed only a 2. 10 a point to gain in the First Quarter. Revision downward and coming in worse than economists had predicted. It seems a most economists are looking forward at the balance of the year and this pending home sales might give them a little more optimism. Back to you guys. Matt thank you. Time for the bulletin and the top business stor