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Daily Highlights: 10.19.2010

Submitted by Tyler Durden on 10/19/2010 07:53 -0400

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)
NSTAR (NST)
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

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Tue, 10/19/2010 - 08:05 | 660722 A Man without Q...

German investors cited particular concerns on the outlook for the US economy... so they don't understand that Bernanke's going to sprinkling the economy with fairy dust and we're all going to be rich!

Tue, 10/19/2010 - 08:08 | 660729 SWRichmond

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).

IMF advocates capital controls as a way to handle vast flows of capital into Asia.

It's On Like Donkey Kong, ladies!

Tue, 10/19/2010 - 08:20 | 660756 trav7777

or...we could just let the trade flows normalize.

But, oh nooooo, that would mean a loss of ponzi overemployment in "exporters" as they see jobs and production migrate back. They might have to actually start BUYING shit from other nations.

China has been doing this crap since Marco Polo and it always leads to war. Britain was forced to find something they wanted to balance the silver account deficit...are we really gonna have to go down that road again?

Tue, 10/19/2010 - 09:04 | 660845 Popo

Maybe we could take all that Opium from our colony in Afghanistan, and get all the Chinese laborers addicted to it. Then, once they're hooked we'll jack up the prices.

Oh wait... the Brits already tried that. Twice.

Tue, 10/19/2010 - 09:10 | 660860 Azannoth

"IMF advocates capital controls as a way to handle vast flows of capital into Asia." - Suck on this bitchez capital goes where it's best treated

Tue, 10/19/2010 - 09:24 | 660903 cycjyf

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Tue, 10/19/2010 - 09:54 | 661009 ella

China is doing more than buying treasuries. "China National Offshore Oil Corporation Ltd (CNOOC) this month announced a deal with Oklahoma City-based Chesapeake Energy to spend up to US$2.2 billion to drill in 600,000 acres (242,820 hectares) of the Eagle Ford shale, an oil and gas formation stretching from the San Antonio suburbs southwest to the Mexican border. The deal includes transferring the technical know-how to develop China's own shale oil and gas, which could prove to be immense." http://www.atimes.com/atimes/Central_Asia/LJ20Ag01.html

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Sat, 11/13/2010 - 08:40 | 724546 mark456

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Daily Highlights: 10.19.2010

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