Daily Highlights: 10.22.09
- Asian stocks fall as bank loan-loss speculation raises valuation concerns.
- China's economy expands 8.9% in Q3, fastest pace in a year, on stimulus, lending.
- Euro rises above $1.50 for first time since August '08 on recovery outlook.
- Leading Index in U.S. probably rose for sixth month in sign of expansion.
- Russia warns of reduced access to credit, signalling cut in interest rates.
- Sept's regional, state unemployment rates climbed in 23 states and the District of Columbia.
- Altria's Q3 net rose 1.7%, helped by its acquisition of UST Inc., higher cigar prices.
- Amgen's Q3 net rises 24% to $1.39B, helped by cost cuts, lower taxes.
- AMR Corp.: Tough times could persist after average fares plunged 16% in Q3.
- Boeing posts $1.56B loss on hefty charges on delays related to 747-8, Dreamliner programs.
- BofA to sell First Republic Bank to a group of investors for more than $B.
- Credit Suisse Q3 net rises more than estimated to $2.38B.
- Delta's Sept. loss rose from $50M last year to $161M this year.
- Dow's Sept. net income rises from $428M last year to $796M this year.
- Ebay's Q3 net falls 29% to $349.7M, revs improve by 5.7% to $2.24B.
- Genzyme Corp.'s profit fell 87% to $16M as a plant closure restricted drug supplies.
- GE's Immelt says studying 'all the options' for NBC Universal unit stake.
- GlaxoSmithKline’s cervical cancer shot gets US recommendation.
- Hyundai Motor profit triples to $827M on weaker Won, US 'cash-for-clunkers' sales.
- Korea National to buy Harvest Energy for $3.9B to secure supplies.
- Microsoft Corp launched Windows 7.
- Morgan Stanley posts $1.43B on the strength of its investment-banking business.
- Raytheon's Sept. net income rises from $427M last year to $490M this year.
- SLM Corp. reported it swung to a profit following four straight quarters of losses.
- Starwood Hotels & Resorts Worldwide Inc. says its third-quarter profit fell 64%.
- Toyota, Honda, Nissan may increase overseas production amid stronger Yen.
Economic Calendar: Data on Initial Claims, Leading Indicators to be released today.
Earnings Calendar: AMZN, AXP, BDK, BG, BMY, BXS, CA, CB, CNX, CS, DAL, DOW, ELX, EMC, EMN, FITB, KMB, LCC, LM, MMM, MRK, NCR, NUE, NVS, NYT, PM, RTN, SGP, T, TRA, UPS, XRX.
Recent Egan-Jones Rating Actions
OMNICOM GROUP INC (OMC)
AMR CORP (AMR)
NAVISTAR INTERNATIONAL CORP (NAV)
WELLS FARGO & CO (WFC)
FREEPORT-MCMORAN COPPER (FCX)
BOEING CO/THE (BA)
CNH GLOBAL NV (CNH)
ALLEGHENY TECHNOLOGIES INC (ATI)
SANDISK CORP (SNDK)
MORGAN STANLEY (MS)
EASTMAN CHEMICAL CO (EMN)
EI DU PONT DE NEMOURS & CO (DD)
CSX CORP (CSX)
Data provided by Egan-Jones Ratings and Analytics