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Daily Highlights: 10.27.2010

Submitted by Tyler Durden on 10/27/2010 08:10 -0400

API: Oil inventories rise 6.4 million barrels.
Australian Consumer Prices rise 0.7%, less than estimates; Currency drops.
Average rates on 30-year fixed-rate mortgage expected to jump above 5%: MBA.
Fed won't join banks' appeal to High Court over emergency-loan disclosures.
Most Asian stocks rise on earnings; Japan's exporters gain on weaker Yen.
US mortgage lending to drop below $1 trillion, lowest since 1996, bankers say.
US Treasuries snap five-day decline as Dudley says economic momentum slowed.
ACE Ltd. to acquire New York Life's HK, Korea life insurance ops for ~$425M cash.
Boston Prpts beats by $0.05, reports Q3 FFO of $1.08; revs rose 3.5% to $372M.
Broadcom Corp. to buy privately-held Percello Ltd. for about $86M in cash.
Cabot reports in-line, posts Q4 EPS of $0.66 as revs rose 22.8% to $749M.
Coach Inc.'s fiscal first-quarter profit jumped 34% on stronger sales and margins.
Deutsche Bank posts Q3 loss of €1.2B on write downs related to Deutsche Postbank.
EDF to pay CEG $249M for nuclear venture.
Ford's Q3 profit jumps 70% to $1.7B on rising sales of pickup trucks.
Fortescue Metals sold $2.04B of 5-yr notes in the biggest sale of junk-rated
USD bonds by an Australian company.
General Dynamic's Sept. net income rose from $572M to $650M.
Glaxo to pay $750M to settle charges of manf deficiencies at its Puerto Rico plant.
Kimberly-Clark's earnings fell 19% to $469M on rising commodities costs. Revs up 1.3%.
Macquarie shakes up infrastructure business; cuts jobs, fund life, and fees.
Massey Energy swung to Q3 loss of $41.4M - worse than expected. Revs rose 26.2%.
McKesson Corp.'s Q2 net rises 8.6% to $327M on 1.5% rise in revs to $27.5B.
Molex Inc. swings to Q1 profit of $75.1M as revs rose 33% to $897.7M.
Novellus Systems swung to a profit of $0.82/sh from a year-ago loss of $0.04/sh.
OPI Products Inc. in advanced talks with several parties to sell itself for at least $900M.
P&G's Sept. net income declined from $3.3B to $3.1B.
Sprint's Sept. loss rose from $478M to $911M.
US Steel's Q3 loss narrows to $51M from yr-ago's $303M as revs rose 60.7% to $4.5B.
Vestas Wind Systems posted a 24% drop in Q3 net profit; plans to cut 3,000 jobs.
Whirlpool's Sept. net income deckinesfrom $87M to $79M.

Earnings Calendar: ACE, ADLR, AYE, BEZ, CACI, CCI, CMCSA, COP, CP, ELN, ESRX, GD, IACI, IP, LVS, NOC, ODP, PG, PX, SYMC, TASR, V, VALE, WHR.

RECENT RATING ACTIONS
CUMMINS INC (CMI)
OWENS-ILLINOIS INC (OI)
VALERO ENERGY CORP (VLO)
AK STEEL HOLDING CORP (AKS)
INTERNATIONAL BUSINESS (IBM)
NOBLE CORP (NE)
AMERICAN GREETINGS CORP (AM)
KIMBERLY-CLARK CORP (KMB)
EI DU PONT DE NEMOURS & CO (DD)
ITALY (2103Z IM)
AMGEN INC (AMGN)
NORTHERN TRUST CORP (NTRS)

Data provided by Egan-Jones

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Daily Highlights: 10.27.2010

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