Daily Highlights: 10.12.2010
- Aluminum prices in China may gain more than 10% on output cuts.
- Asian stocks fall on lower commodity prices, Yen concerns; Toyota declines.
- China may worsen trade tensions with biggest quarterly surplus since 2008.
- China reportedly lifts reserve ratio for top banks.
- Greece raises $1.6 billion in oversubscribed 26-week treasury bill auction.
- Japan's Noda says ready to take 'bold' action after Yen hits 15-year high.
- Oil falls a second day after stronger Dollar reduces appeal of commodities.
- Thailand to levy 15% tax on income earned on domestic bonds purchased by overseas investors.
- UK House-Price gauge drops to 16-month low on supply increase: RICS.
- ActivIdentity to be acquired by ASSA ABLOY, for $3.25/sh.
- China's Sihuan Pharma IPO may raise $741M in Hong Kong.
- EDF is said to support sale of Constellation Energy as relationship sours.
- Facebook, Zynga impose fees on worker stock sales to limit outside owners.
- Ford: Sept Asia-Pacific, Africa region sales rose 27% to 78,700 units.
- Global Payment misses by $0.02, posts Q1 EPS of $0.67. Revs up 7.4% to $440.1M.
- GM's China Sept sales rose 15% to 208,353 vehicles vs. Augusts' 19% growth
- Gymboree to be acquired by Bain Capital for $65.40/sh cash ($1.8B).
- Halozyme to reduce research related to new compounds, cut jobs by 25%.
- Harbin Electric CEO, Baring offer to buy company for $752.2M.
- Honda’s China sales rise 3% YoY in September to 60,913 units.
- KKR buys Chevron’s 23.4% stake in Colonial Pipeline Co.
- Malaysia's Petronas Chemicals plans to raise as much as $4B via IPO.
- Posco Q3 profit drops 9% on higher material costs, lowers 2010 profit forecast.
- Sales in September for utility tractor industry fell 11%, while Deere’s sales were down less than 10%.
- Seneca Capital buys 9.3% stake in Dynegy Inc.; may oppose Blackstone's
- $4.7B offer to buy the utility company.
- Severstal to spend $6.4B on capital expenditure, excl maintenance, through 2014.
- Wal-Mart Stores said it will start selling Apple Inc.'s iPad on Friday.
Economic Calendar: Minutes of FOMC Meeting to be released today.
Earnings Calendar: CRI, CSX, FAST, GYRO, INTC, LLTC, ODC, PKX, VOXX.
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Data provided by Egan-Jones