Daily Highlights: 10.22.2010
- Asian stocks rise as US earnings, Jobless claims boost growth optimism.
- California plans to sell $10B of notes in mid-November to pay bills.
- Fed's Bullard proposed the central bank buy $100B in long-term Treasuries in Nov.
- German two-year government note yield rises to 1%, first time since April.
- Gold set for first weekly decline in six as Dollar's strength cuts appeal.
- Hoenig says US economy is in recovery and 'growing modestly'.
- AIG said to raise $17.8B as AIA unit completes record Hong Kong IPO.
- Align Technology sees Q4 EPS at $0.15-0.17, trailing the $0.19 cons. estimate.
- Amazon's Q4 op. income view lower than est. on higher marketing, warehousing costs
- American Express said it remains "cautious" in its view of the economic outlook.
- Amex's Q3 net jumps 70% to $1.09B on write back of $548M in loss provisions.
- Boeing plans to increasing prodn of 737 single-aisle jet to 40 a month from 31.5 now.
- Canada urged to block bid for PotashCorp; Saskatchewan fears negative impact.
- Caterpillar to acquire German engine supplier MWM for $810M.
- Cephalon exercised its options to acquire BioAssets Development for $12.5M.
- Cheesecake Factory said Q3 EPS were $0.37, which topped cons est. of $0.34.
- Cnooc, Ghana Natl make a $5B bid to buy Kosmos Energy LLC’s assets in Ghana.
- Disney's ABC blocks Google TV access to shows as networks seek more fees.
- Dynegy shareholder Seneca Capital blocks proposed buyout of the co. by Blackstone.
- EasyLink acquires PGiSend, PGiNotify units from Premiere Global Srvcs for $105M.
- eBay sells $1.5B of bonds in debut offering.
- Hutchison Whampoa sells $2B of perpetual notes at 6%.
- Leggett & Platt's Q3 net fell 12.7% to $47.4M despite 6.9% rise in revs to $866.5M.
- McDonald's Corp. plans to raise menu prices to blunt higher costs.
- Mitsubishi UFJ Trust sets 1.92% coupon on 15-Year 20B yen bond sale.
- Nestle: 5% organic growth for food & bev. in 2010; sticking to full-year guidance.
- SanDisk reported adj earnings of $1.30/sh, topping avg est. of $1.05 a share.
- Southwest Airlines reports 3Q profit, projects strong travel demand in the coming months.
Earnings Calendar: AAI, BPOP, EXC, GAP, HON, IR, KEY, SJR, SLB, TROW, VZ, WSB.
RECENT RATING ACTIONS
FREEPORT-MCMORAN COPPER (FCX)
ABBOTT LABORATORIES (ABT)
UNITED PARCEL SERVICE INC (UPS)
BOEING CO/THE (BA)
CATERPILLAR INC (CAT)
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AT&T INC (T)
MCDONALD'S CORP (MCD)
EATON CORP (ETN)
ALTRIA GROUP INC (MO)
SONOCO PRODUCTS CO (SON)
Data provided by Egan Jones