Daily Highlights: 10.19.2010
- Brazil hikes tax on incoming fixed income investment to 6% from 4%.
- China remained a net buyer of US Treasurys in Aug. China's hldgs jumped $21.7B.
- Euro zone's current account deficit widened in August to €7.5B ($10.49B).
- German investor confidence may decline to 21-month low as economy cools.
- IMF advocates capital controls as a way to handle vast flows of capital into Asia.
- Oil falls from two-week high as US crude stockpiles forecast to increase.
- World Bank cuts China, East Asia growth outlook, cautions on 'bubble'.
- AGA Medical Hldgs to be acquired by St. Jude Medical for $20.80/sh ($1.3B).
- AMR Corp. expected Wed to report its first qtrly profit in 2 years.
- Apple beats by $0.56, beats on revs; guides Q1 EPS below cons., revs above cons.
- BancAmerica reports a $7,3B loss for the Sept. quarter.
- Boeing plans to test a China-produced commercial-jet biofuel by the middle of 2011.
- Capital One Fincl's Q3 net doubles to $803M on writeback of $624M in provisions.
- Citigroup posts Q3 EPS of $0.07 (cons $0.05); reported net release of reserves of $2B.
- CSX plans $800M debt offering as auto shipments increase profits.
- Disney buys Paramount's rights to Marvel Movies including next 'Iron Man'.
- Fluor Corp. lowers full year EPS f'cast to no more than $2.50 (prev $2.90-3.20) on costs related to Greater Gabbard Offshore Wind Project.
- H&R Block: May not be able to provide customers refund anticipation loans next year because of a dispute with HSBC.
- Halliburton's Q3 earnings doubled to $544M as revs jumped 30% to $4.67B.
- IBM posts third straight drop in service contracts; Q3 profit rises 12% to $2.82/sh
- IDEX Corp issues upside guidance for FY10, sees EPS of $1.95-1.97 vs. cons $1.91.
- McMoRan Exploration posted Q3 loss of $0.26/sh (cons -$0.23) as revs fell 13.5%.
- Posco's planned $12B Indian steel plant in doubt after environmental panel report.
- SKF AB to acquire U.S.-based Lincoln Industrial for $1B.
- Steel Dynamics reported Q3 EPS of $0.09 (cons $0.10); revs rose 35.1% to $1.58B.
- Univision may sell debt due 2020 at yield of 7.875%.
- Walmart sells $5B of Bonds in a four-part offering at some of the lowest coupons ever.
- Weatherford beats by a cent, posts Q3 EPS of $0.18. Revs rose 17.9% to $2.53B.
Earnings Calendar: AEP, ALTR, AOS, BAC, BK, BSX, BTU, CREE, DPZ, EMC, FSII, GILD, GS, HOG, ITW, JNJ, KO, LMT, NYT, OXY, PH, SLM, TUP, UNH, URI, WCN, YHOO.
RECENT RATING ACTIONS
CITIGROUP INC (C)
INTERNATIONAL SPEEDWAY CORP (ISCA)
CONSOLIDATED EDISON INC (ED)
NORTHEAST UTILITIES (NU)
TALISMAN ENERGY INC (TLM CN)
HASBRO INC (HAS)
BANK OF AMERICA CORP (BAC)
GENERAL ELECTRIC CO (GE)
MBIA INC (MBI)
GANNETT CO INC (GCI)
MATTEL INC (MAT)
Data provided by Egan-Jones