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Daily Highlights: 10.13.2010

Tyler Durden's picture




 
  • 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)
PEPCO HOLDINGS INC (POM)
CIENA CORP (CIEN)
ATMOS ENERGY CORP (ATO)
PFIZER INC (PFE)
KING PHARMACEUTICALS INC (KG)
MILLIPORE CORP (MIL)
SUNOCO INC (SUN)
SHERWIN-WILLIAMS CO/THE (SHW)
MARRIOTT INTERNATIONAL (MAR)
CHESAPEAKE ENERGY CORP (CHK)
PROGRESS ENERGY INC (PGN)

Submited by Egan-Jones

 

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Wed, 10/13/2010 - 08:31 | 645667 Catullus
Catullus's picture

FDIC floats rules on closing firms; proposals require creditors to take hit.

 

HAHAHAHAHHAHA.

Wed, 10/13/2010 - 08:47 | 645686 shushup
shushup's picture

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.

Wed, 10/13/2010 - 09:59 | 645803 lsbumblebee
lsbumblebee's picture

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.

Thu, 10/14/2010 - 04:26 | 648591 Hephasteus
Hephasteus's picture

Intel broke a record in accounting fraud this quarter. Woot!!!

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