Daily Highlights: 10.15.2010
- Asia stocks, currencies fall on concern growth is slowing; Dollar rebounds.
- China September property prices rise 0.5%, defying curbs.
- Confidence among US CEOs falls to lowest level since May 2009: Bloomberg survey.
- Dollar fall sparks stability warnings; Gold hits $1,380, Aussie dollar nears parity.
- Euro above $1.41 ahead of Bernanke speech.
- European Union September new-car registrations fall 9.6%.
- Foreign direct investment in China rises 6.1% as growth attracts Renault.
- Oil trades below $83 after falling on lower US petroleum use.
- OPEC seek $100 a barrel oil to counter Dollar weakness. Holds production quota steady.
- Treasuries advance as Federal Reserve to buy notes due 2014 to 2016 today.
- US trade gap with China climbs to record $28B in August.
- Acuity Brands acquires Winona Lighting. Terms of the acquisition were not disclosed.
- AMD reported Q3 sales of $1.62B, topping avg analyst estimate of $1.61B. Sees Q4 revs flat QoQ vs +3.2% QoQ consensus.
- Cablevision was willing to accept binding arbitration to resolve dispute with News Corp.
- Carrefour reported a 6.7% rise in Q3 sales, led by growth in China and Brazil markets.
- Celadon Group sees Q1 EPS of $0.19-0.21 vs $0.16 Thomson Reuters consensus.
- EU to issue a statement of objections over Rio Tinto, BHP's proposed iron ore tie-up.
- Fortescue Metals looking to raise $2B in the US and European bond markets.
- Google beats by $0.96, posts Q3 EPS of $7.64. Revs up 25% at $5.48B.
- Honda recalls autos in Brazil due to gas pedals.
- HSBC close to dropping plan to buy Nedbank; exit could leave way clear for StanChart.
- J&J must pay $257.7M over misleading Risperdal marketing, a jury concluded.
- JB Hunt Trans misses by a cent, posts Q3 EPS of $0.43. Revs up 18.2% at $986M.
- JPMorgan Chase sells $4B of bonds amid home foreclosure scrutiny.
- Resolution to buy Bupa Health Assurance for GBP102M.
- Safeway's Q3 net slips 4.7% to $122.7M as revs fell 1.05% to $9.4B.
- Seagate in discussions with KKR, former owner TPG on buyout. Deal est. at $7.5B.
- Sony Ericsson swings to Q3 profit of €49M on lower charges. Revs dip 1.2% to €1.60B.
- UBS decides not to take any legal action against former execs for huge losses.
Economic Calendar: Data on CPI, Retail Sales, Mich Sentiment, Business Inventories.
Earnings Calendar: AMAP, GCI, GE, GMTC, GPC, MAT, RIVR, SCHW, STBC, STU.
RECENT RATING ACTIONS
SAFEWAY INC (SWY)
HOST HOTELS & RESORTS INC (HST)
WASHINGTON POST CO/THE (WPO)
STEEL DYNAMICS INC (STLD)
AMEREN CORP (AEE)
CANADA (80710Z CN)
M/I HOMES INC (MHO)
JC PENNEY CO INC (JCP)
CSX CORP (CSX)
INTEL CORP (INTC)
MGM RESORTS INTERNATIONAL (MGM)
RAYTHEON CO (RTN)
Data provided by Egan Jones