Daily Highlights: 10.26.2010

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  • Copper climbs to 27-month high on Dollar concern; Zinc at nine-month peak.
  • Home sales picked up in Sept, but long-term picture for housing is growing grimmer.
  • Sweden’s Riksbank hikes key interest rate for a third time since July on stronger economy.
  • UK growth probably weakened last quarter as BOE keeps 'fingers crossed'.
  • US Treasury draws negative yield for first time during 5-year TIPS auction.
  • Aaron's posts Q3 EPS of $0.32 (cons $0.30); revs rose 8.9% to $452.2M.
  • Amgen's Q3 net income fell 11% on higher operating costs, lower sales of key drugs.
  • ArcelorMittal's Q3 profit rose 48% to $1.35B; Revs up 30.1%. Warned the rest of the year to be tough.
  • Bunge Ltd. in talks with banks to refinance $1.25B of loans maturing next year.
  • Cabot Oil & Gas beats by $0.05, posts Q3 EPS of $0.31. Revs up 5.9% at $219.1M.
  • Crane beats by $0.05, raises EPS view for FY10 to $2.50-2.60 (prev $2.35-2.50).
  • Digital River f'cast 2010 EPS of at least $0.87, compared to avg est. of $0.77.
  • Goldman to sell $250M of 50-yr bonds, targeted toward individual investors.
  • Ingersoll-Rand reported a 7.2% rise in Q3 earnings; boosted its full-year profit f'cast.
  • JPMorgan, BofA subpoenaed over foreclosures by Texas Attorney General Abbott.
  • Lorillard's Q3 net rose 17% to $274M on higher prices and shipments.
  • Luxottica's Q3 net rises 35% to $142M as sales rose 20% on higher demand in US.
  • MGM Resorts plans $500M sale of six-year notes.
  • Merck sees 3Q earnings rise 46%.
  • Owens & Minor beats by a cent, posts Q3 EPS of $0.50. Revs rose 1.4% to $2.06B.
  • Popular online travel cos oppose Google's proposed $700M purchase of ITA Software.
  • RadioShack's Q3 profit rose 23% to $46M despite lower margins on 6.2% rise in revs.
  • Rent-A-Center sees Q4 EPS at $0.64-0.70 vs. cons est. of $0.67.
  • Sonoco Products plans $350M of 30-year debt.
  • Staples sees Q3 EPS in-line; reaffirms FY11 guidance; sees FY12 EPS in-line.
  • UBS swung to a Q3 profit of $1.71B, sees a better Q4.
  • United Stationers increases share repurchase authorization by additional $100M.
  • Walgreen said to be seeking sale of pharmacy-benefits management unit.

Economic Calendar: Data on Case-Shiller 20-city Index, Consumer Confidence & FHFA Home Price Index to be released today.

Earnings Calendar: AGCO, AKS, AMTD, ASH, BIIB, BMY, CIT, CMI, CNC, COH, DD, ECL, F, FISV, HSP, JCI, LXK, MEE, MT, MYL, RFMD, SHW, UBS, VLO, X.

RECENT RATING ACTIONS
ITALY (2103Z IM)
AMGEN INC (AMGN)
NORTHERN TRUST CORP (NTRS)
PNC FINANCIAL SERVICES (PNC)
NORTHERN TRUST CORP (NTRS)
THOMAS & BETTS CORP (TNB)
ROPER INDUSTRIES INC (ROP)
LOCKHEED MARTIN CORP (LMT)
EASTMAN CHEMICAL CO (EMN)
RADIOSHACK CORP (RSH)
COMMSCOPE INC (CTV)
ITALY (2103Z IM)

Data provided by Egan-Jones