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Daily Highlights: 10.23.09

Tyler Durden's picture




 
  • Asian stocks, Aussie gain on economy outlook; gold hits record.
  • British Prime Minister Gordon Brown calls for Chinese investment.
  • Consumer Spending, Home Sales probably rose as US recovery takes root.
  • Crude rises from 1-wk low on speculation demand will increase as global economy recovers.
  • Electricity sales remained weak in Q3, raising speculation of sluggishness persisting even after the U.S. economy rebounds.
  • Europe’s services and manufacturing industries accelerate at the fastest pace in two years in November.
  • For the first time in 7 decades, Treasury bills are paying no interest while stocks rise.
  • Germany warned fellow EU governments on against offering financial aid to GM Europe in exchange for job guarantees
  • Mexico published the rules for its auction of airwaves for mobile-phone and wireless Internet, creating more competition for America Movil SAB.
  • Thailand’s GDP contracted less than estimated on global recovery, govt spending.
  • US Senate begins debate next month on $848B US Health-Care overhaul.
  • AnnTaylor Stores swung to Q3 profit amid lower restructuring expenses.
  • Barnes & Noble said customers who order its Nook e-reader will get only post Christmas.
  • Boeing Co. may get as much as $400M in incentives to build its new 787 Dreamliner factory in South Carolina.
  • British Airways Plc could revive plans for a tie-up with Qantas Airways Ltd.
  • Cadbury said to prefer merger with Hershey over Kraft.
  • ENI will acquire stakes in two Ugandan oil fields from Heritage Oil for $1.3B.
  • Hershey is pushing it to launch a rival $17B bid for Cadbury with more cash than Kraft's offer.
  • India's Reliance Ind makes a nonbinding cash offer for controlling state in LyondellBasell.
  • Lloyds Banking Group will issue as much as about $13 billion of CoCo securities.
  • Nestle said to consider options for Cadbury, may challenge Kraft, Hershey.
  • Ohio's attorney general sues S&P, Moody's & Fitch, for providing misleading ratings.
  • Oracle $7.4B Sun takeover may be blocked by EU on competition issue.
  • TD Ameritrade announces pricing of $1.25 bln senior notes offering.
  • UPS to raise rates an average of 4.9% for packages shipping by ground, air.
  • Valero Energy permanently closes major gasoline refinery in Delaware, lays off 550 workers.

Recent Egan-Jones Rating Actions
JONES APPAREL GROUP INC (JNY)
PHILLIPS-VAN HEUSEN CORP (PVH)
DR HORTON INC (DHI)
DELL INC (DELL)
DRESSER-RAND GROUP INC (DRC)
PULTE HOMES INC (PHM)
MCGRAW-HILL COS INC. (MHP)
LTD BRANDS INC (LTD)
MILLIPORE CORP (MIL)
PALL CORP (PLL)
SEARS HOLDINGS CORP (SHLD)
AMBAC FINANCIAL GROUP INC (ABK)
MBIA INC (MBI)

Data provided by Egan-Jones Ratings and Analytics

 

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Mon, 11/23/2009 - 11:07 | 139300 mdtrader
mdtrader's picture

If there was an economic recovery, then it would mean a return in demand for dollars, stimulus being withdrawn, and higher interest rates. All of which are bad for stocks. However, in the absence of any such recovery, stocks can go to the moon. Strange world.

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