Daily Highlights: 10.18.2010
- Asian stocks slip, Dollar gains on Fed stimulus speculation; Oil declines.
- Euro down to $1.3889 due to effects of Bernanke comments on Fed action.
- Oil falls below $81 in Asia as US dollar recovers.
- Key Chinese data due this week. G-20 meet, Australian central bank minutes also on tap.
- US structured-note sales surge to $38.4B to break record of 2008.
- Allergan: Botox approved by US FDA for treatment of chronic migraines.
- Aluminium Bahrain seeks to raise $541M from initial share offering.
- BHP Billiton and Rio Tinto cancel plans for a $120B joint venture in Australia.
- BP to sell assets in Venezuela, Vietnam to its Russian JV TNK-BP for $1.8B.
- China investors line up for AIA stakes; Mainland groups seek shares in $20B IPO.
- Concho Resources acquires addln oil, gas assets in the Permian Basin for $285M.
- Delta Air to add 1,000 attendants on new jobs.
- Ford in talks to sell a large part of its 11% shareholdings in Mazda Motor Corp.
- Halliburton's Sept. net income rises from $262M to $544M.
- KKR offers $1.73B for Australia's Perpetual to tap pension savings.
- Mattel's Q3 net rises 23%, stock falls amid slumping sales at its Fisher-Price division.
- News Corp., Cablevision will resume talks Monday after cutting Fox signal.
- Philips Electronics' Q3 net roughly tripled; cautious for rest of the year.
- Rio Tinto, BHP scrap iron-ore alliance amid opposition from regulators.
- Royal Bank of Canada to buy fixed-income fund manager BlueBay for $1.54B.
- SABMiller's 1H lager vols grew 1%, excluding the impact of acquisitions and disposals.
- Severstal plans to sell $1B of bonds at 6.7% yield.
- TerreStar Corp considers Chapter 11 protection.
- Toyota considering to set up new facilities in Mexico in 2013 to produce small cars.
- WD-40 beats by $0.03, posts Q4 EPS of $0.41. Revs up 3.7% at $80.7M.
- Yahoo plans to mimic a strategy used by Facebook, to help drive traffic to its site.
Economic Calendar: Data on Industrial Prodn, Capacity Util, NAHB Housing Market Index to be released.
Earnings Calendar: AAPL, ATX, BBX, BRO, C, CACH, CCK, CEO, HAL, HAS, IBM, KMP, LUB, MYE, STLD, STU, WSB, ZION.
RECENT RATING ACTIONS
MBIA INC (MBI)
GANNETT CO INC (GCI)
MATTEL INC (MAT)
JB HUNT TRANSPORT SERVICES (JBHT)
ADVANCED MICRO DEVICES INC (AMD)
OTTER TAIL CORP (OTTR)
SEAGATE TECHNOLOGY PLC (STX)
JPMORGAN CHASE & CO (JPM)
ALLY FINANCIAL INC (ALLY1)
SAFEWAY INC (SWY)
HOST HOTELS & RESORTS INC (HST)
WASHINGTON POST CO/THE (WPO)
Data from Egan-Jones