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Daily Highlights: 10.13.2010
- Asian stocks advance as Japan Machinery orders, Intel sales beat estimates.
- China has $16.9B trade surplus after exports rise 25% in September.
- FDIC floats rules on closing firms; proposals require creditors to take hit.
- Fed tilts to more monetary easing; Minutes show likelihood of QE2 in November.
- Finland to raise $2B from sale of five-year bonds.
- Foreclosure delays may cost US banks up to $6B, FBR's Miller says.
- Hong Kong to temporarily restrict immigration to the city based on real-estate investments.
- IEA raises estimates for global oil demand; by 300,000 bpd or +2.5% for 2010.
- Japanese machinery orders unexpectedly increased 10.1% in August from July.
- UK Consumer confidence plummets to 18-month low as budget squeeze looms.
- US Treasuries 10- to 30-year yield spread at record on outlook for Fed.
- Yen drops from near 15-year high on rising stocks, signs of Asian recovery.
- ASML's Q3 net surges to €268.5M from €19.8M a year ago as sales surge.
- Avon Products under focus on news of the company could be a takeover target.
- Cargill's Q3 earnings rose 68% to $883M as revs rose 6% to $27.8B.
- Chevron: Q3 hit by weakening USD, deep-water drilling ban, lower prices for crude.
- Clearwire said to seek up to $5B for spectrum; AT&T, Sprint may bid.
- CSX Corp. reported Q3 profit excl items of $1.08/sh vs. avg cons estimate of $1.04.
- Intel sees Q4 sales to rise as high as $11.8B (cons $11.3B) on strong demand.
- Levi' Strauss' Q3 net fell 31% to $28.2M on higher costs. Revs rose 6.6% to 1.11B.
- Linear Tech misses by $0.01, posts Q1 EPS of $0.61. Revs up 64.6% at $388.6M.
- MGM Resorts to raise $550M in share sale as Kerkorian reduces stake
- Office Depot in talks to sell Israel unit to New Hamashbir Lazarchan for $47M.
- Pfizer to buy King Pharma, a small drug maker that sells painkillers, for $3.6B cash.
- Standard Chartered plans to raise around $5.2B in a rights issue to boost capital.
- WellPoint & UnitedHealth stock buyback focus concerns investors
- Woodside Petroleum says Don Voelte to retire as CEO in 2nd half of 2011
Economic Calendar: Data on Export & Import Prices, Crude Inventories to be released.
Earnings Calendar: ACGY, APOL, ASML, HST, IGTE, JPM, SCHW, SPTN, WDFC.
RECENT RATING ACTIONS
E*TRADE FINANCIAL CORP (ETFC)
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FDIC floats rules on closing firms; proposals require creditors to take hit.
HAHAHAHAHHAHA.
http://finance.fortune.cnn.com/2010/10/12/debt-market-strips-u-s-of-triple-a-rating
I wonder if the UN and the US will not attack Hong Kong for being human rights violators for restricting immigration......like the UN and our president did to us.
I heard Becky Quick this morning refer to the foreclosure scandal as a "controversy".
Apparently CNBC has decided that if it must talk about it, they will do so in a condescending manner.
Intel broke a record in accounting fraud this quarter. Woot!!!