Daily Highlights: 10.21.09
- Asian currencies fell on concern emerging-market central banks will follow Brazil in taxing investment from overseas to temper currency gains.
- Asian stocks fall on commodities, US housing data; Treasuries and Dollar advances.
- Bank of England Governor suggests splitting up largest banks to stem risk.
- China's 'growth on steroids' risks next slowdown as lending binge subsides.
- Hong Kong may end mortgage insurance for investment properties.
- Housing Starts, Wholesale Prices signal low rates to ensure US recovery.
- Oil prices fell for a second day Wednesday in Asia, falls below $79
- U.S. Chamber of Commerce spends $34.7M on 3Q lobbying
- AT&T sued Samsung, LG, AU Optronics, others over price-fixing claims.
- Bank of New York Mellon posts Q3 loss of $2.5B loss on $4.8B charge on investments.
- Boeing reports Sept. loss of $1.56B loss compared to $695M gain last year.
- Cadbury PLC raises forecasts, fueling Kraft Foods Inc. speculation
- California's attorney general to sue State Street Bank for $200M for defrauding pension funds.
- Caterpillar's Q3 net falls 53%, but says it likely has seen a bottom in sales.
- Cnooc Jan-Sep pretax profit at CNY28.31B; down 46% YoY.
- Deutsche Bank to acquire parts of ABN Amro's commercial-banking operations.
- DuPont surprised by a 11% rise in Q3 profits on lower material, freight costs.
- Ford, Geely talks on Volvo sale said to falter over intellectual property.
- LG Electronics' Q3 net soars to $693.1M on strong sales of flat-screen televisions.
- Marshall & Ilsley posts fourth straight quarterly loss; plans for a $775M stock sale.
- MGM Mirage to take a $955M Q3 write-down on its CityCenter project in Las Vegas.
- Morgan Stanley reports Sept. EPS of 38 cents compared to 27 cents expected.
- No uptick seen for natural gas prices: ENI says.
- Pfizer's profit rose 26% in absence of a year-earlier charge. Sales fell 2.9% to $11.62B.
- Qatar's sovereign wealth fund is cashing out about half of warrants it holds in Barclays.
- Sherwin-Williams's Q3 net dips only 1.1% on cost cutting measures, revs fall 12%.
- Sun Micro plans to lay off about 3,000 employees, or about 10% of its work force.
- Tupperware Q3 profit up 18% on margins, raises dividend, 2009 EPS view.
- UAL narrowed its Q3 loss to $57M on continued cost controls; revs down 20%.
- Wells Fargo's Sept. EPS 56 cents versus 37 cents expected
Recent Egan-Jones Rating Actions
EI DU PONT DE NEMOURS & CO (DD)
CSX CORP (CSX)
UAL CORP (UAUA)
COCA-COLA CO/THE (KO)
CATERPILLAR INC (CAT)
BOSTON SCIENTIFIC CORP (BSX)
GANNETT CO INC (GCI)
EATON CORP (ETN)
INTERNATIONAL PAPER CO (IP)
MGIC INVESTMENT CORP (MTG)
ASBURY AUTOMOTIVE GROUP INC (ABG)
PENSKE AUTO GROUP INC (PAG)
AUTONATION INC (AN)
Data courtesy of Egan-Jones Ratings and Analytics