Daily Highlights: 10.16.09
- Greenspan says US should consider breaking up banks that get too large.
- Most Asian stocks rise as Yen weakens, oil gains; Sony climbs on upgrade.
- Euro down to $1.4900 in European morning trade as equity markets trade lower.
- European markets buoyed by Dow's further rise above 10,000 mark; all eyes on US earnings again.
- Oil extends rally, jumps above $78 in Asia, as US gasoline supplies drop.
- US 30-year mortgage rates climb to 4.92% in first increase since August.
- US state tax collections in Q2 falls record 16.6% - the most in almost half a century.
- Yen drops versus Euro, Dollar on prospect Asian stocks will extend rally.
- AMD reported narrower net loss for Q3 at $135M; revs dip 22% to $1.4B.
- Bank of America reported a $1B Sept. 2009 loss.
- BHP Billiton to buy iron ore explorer United Minerals Corp. for $188M.
- Carrefour to exit Russia shortly after having entered it; Q3 sales dip 2.9%.
- Citigroup posts $101M profit after adding reserves at slowest pace in two years.
- Crown Hldgs beats by a cent, posts Q3 EPS at $0.81. Revs fell 3.7% to $2.28B.
- GE's Sept. net income declines from $4.5B last year to $2.5B this year.
- Google's net rose 27% to $1.64B, beating estimates. Revs came in at $4.38B.
- GVT under focus on speculation Vivendi to counter Telefonica's $3.7B bid.
- Harley-Davidson's Q3 net dips 84% from weak sales during the economic downturn.
- IBM's Q3 net rises 14%, topping f'cast. But new contract signings declined last qtr.
- McClatchy Co.'s Q3 net jumps to $23.6M reflecting tax benefit, absence of any charges.
- Mattel 3Q profit declines 3 percent as revenue slips on tough economy.
- Oracle Corp. said it may consider making another computer-hardware acquisition.
- RHJ International to acquire Kleinwort Benson from Commerzbank for $359.3M.
- Roche lifts 2009 EPS view on better-than-expected 9.7% rise in Q3 revs.
- Safeway's Q3 net falls 35% to $128.8M on lower prices. Revs dip 7% to $9.46B.
- Siemens AG acquires Israel's Solel Solar Systems Ltd. for about $418M.
- Southwest Airlines' Q3 loss of mere $16M lends support for clearer skies for airlines.
- Ticketmaster, Live Nation face stiff resistance to their proposed merger from Justice Dept.
- Toyota, Daihatsu to team on emerging-market car priced at lower than $11,000.
- Wal-Mart hits at Amazon, to sell 10 hotly anticipated new books for just $10 apiece.
- Xstrata PLC says it has no intention to mount a takeover bid for Anglo American.
Recent Egan-Jones Rating Actions
VALASSIS COMMUNICATIONS INC (VCI)
CITIGROUP INC (C)
SAFEWAY INC (SWY)
ALTRIA GROUP INC (MO)
MCCLATCHY CO/THE (MNI)
GOLDMAN SACHS GROUP INC/THE (GS)
AT&T INC (T)
EXPEDIA INC (EXPE)
RIO TINTO PLC (RIO LN)
TECO ENERGY INC (TE)
CMS ENERGY CORP (CMS)
INTEL CORP (INTC)
ABBOTT LABORATORIES (ABT)