Daily Highlights: 10.13.09
- Asian stocks were mixed Tuesday, with caution ahead of U.S. earnings.
- Bank of England likely to expand its bond-purchase program to $316B next month.
- China Vice PM: 3Q,4Q GDP to each grow higher on year vs. 7.1% in 1H 2009.
- China September passenger vehicle sales up 83.6% on year
- Contractors expect cuts in big weapon sales; Congress to vote on 2010 defense budget by month's end.
- Crude oil futures trade above $73/barrel, helped by a weak dollar, early strength in equities.
- German investor confidence unexpectedly drops as economy remains `fragile'
- Japanese steel shares soared Tuesday on a bullish view on the demand outlook for next year.
- Obama has shelved a plan to raise more than $200B in new taxes on multinational companies.
- Russia, China working on using their own currencies to settle trade instead of dollar, euro.
- US stocks notched new 52-wk highs, on corp. America showing better-than-expected profits.
- U.K. inflation rate declines more than forecast to five-year low of 1.1%
- ABN Amro: Exposure to DSB Bank can result in substantial losses .
- AIG sells Taiwan life insurance unit to Primus Financial for $2.15B.
- Black & Decker Corp. boosted its Q3 profit outlook on higher operating margin, lower tax rate.
- BofA in talks with regulators to provide documents on legal advice received on ML acquisition.
- Bronco Drilling: Utilization for its drilling fleet at 24% for September vs. 21% in August.
- Cathay Bancorp announces $70.5m common stock offering.
- China's sovereign-wealth fund to keep buying shares in China's three largest banks.
- Clariant: To look into ways to cut costs in next months.
- Dell says his company will be 'reasonably active' in making acquisitions.
- Enel SpA may delay decision on renewable energy stake sale to 2010.
- Johnson & Johnson Sept. earnings at $1.20 vs. $1.13 expected.
- Lloyds Banking to pay $3.2B to end its participation in insuring potentially troubled assets.
- Macquarie may lose control of ACM unit on breach of loan agreements
- Morgan Stanley Property Group said to plan Australian initial share sale, to raise $680M.
- NBC Venture talks with Comcast said to include GE exit option.
- Onyx Pharma to acquire Proteolix Inc. for $276M cash plus potential milestone payments.
- Pier 1 Imports same store sales in Sept rose 9.9% vs. -11.7% in Sept'08.
Economic Calendar: Data on FHFA US Housing Price Index to be released today.
Recent Egan-Jones Rating Actions
CHEVRON CORP (CVX)
EL PASO CORP (EP)
EXXON MOBIL CORP (XOM)
KIMBERLY-CLARK CORP (KMB)
OCCIDENTAL PETROLEUM CORP (OXY)
ORBITAL SCIENCES CORP (ORB)
PEPSICO INC/NC (PEP)
PROGRESS ENERGY INC (PGN)
AMERICAN FINANCIAL GROUP INC/OH (AFG)
INTERNATIONAL SPEEDWAY CORP (ISCA)
JACK IN THE BOX INC (JACK)
MARRIOTT INTERNATIONAL INC/DE (MAR)
SPEEDWAY MOTORSPORTS INC (TRK)
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