• Europe's Commercial Real Estate Timebomb?
    Leo Kolivakis
    03/19/2010 - 17:00
    Europe faces a commercial property debt timebomb with almost €1 trillion (£896bn) outstanding from the sector and a quarter of that potentially distressed. The UK accounts for 34% of the €970bn total, with Germany second with 24%. Not to worry, global pension funds are busy snapping up properties but do they really know how long it will be before this crisis blows over? And what if it gets a lot worse before it gets better? Are pensions prepared to deal with those losses?
  • Amid a Depression and Linked Heavily into Western Europe, Latvia's Government Collapses!
    Reggie Middleton
    03/19/2010 - 10:03
    As I warned in my Pan-European Sovereign Debt Crisis series and amid a depression, this Eastern European government has collapsed. Western European countries (and their banks) have material claims within this country, and when combined with pressure from the PIIGS, may be the ones that set off the financial/economic contagion daisy chain. It is difficult to determine who sets it off, which is why it is best to attempt to determine the path of the contagion instead...

Daily Highlights: 10.28.09

Tyler Durden's picture
Submitted by Tyler Durden on 10/28/2009 07:28 -0500



  • Asian stocks drop on National Australia loss, Canon earnings; Yen advances.
  • Consumer Confidence in US unexpectedly fell in October on job concerns.
  • Euro up slightly to $1.4830 in European morning trade amid US consumers' worries.
  • Oil falls to near $79 a barrel in Asia amid mixed signals about strength of US recovery.
  • France announces €1.65B plan to prop up the country's agricultural companies.
  • Home Prices in 20 US cities rise for third straight month: S&P/Case-Shiller.
  • Russia postpones plan to sell up to $1.7B in gold after news was leaked to local media.
  • AK Steel's Q3 profit tumbled 97% to $6.2M as shipments plunged 29%.
  • ArcelorMittal's Q3 net falls 76% to $903M on 35% dip in revs and shipments fell 29%.
  • E*Trade's Q3 loss widened to $832M on charges related to debt exchange it completed.
  • EcoLab posts Q3 profit rise of 15% at $145M, despite 5% decline in sales to $1.55B.
  • Franklin Resources beats by $0.27, posts Q4 EPS of $1.60. Revs fell 6.3% to $1.24B.
  • GMAC may receive as much as $5.6B in third US government bailout.
  • Harrah's Ent's Q3 loss widened to $1.62B on $1.33B of write-downs. Revs dip 14%.
  • Heineken NV raised its Y09 forecast for organic net profit growth to low double-digit growth.
  • National Australia Bank turns to loss of $69M on bad-debt charge, tax settlement.
  • News Corp., CBS Corp. asking cable operators to pay monthly fees to carry their stations.
  • Praxair's Sept. net income declines from $355M last year to $325M this year.
  • Publicis Groupe SA says advertising markets have started a gradual recovery.
  • SAP AG cut Y09 revenue outlook; sees decline of 6-8% (prev 4-6% decline).
  • TD Ameritrade Q4 net slips 8.9% to $156.7M despite highest qtr of trading activity in its history.
  • Textron's Q3 profit beats est., at $4M helped by savings from job cuts.
  • US Steel anticipates losses in Q4; posts Q3 loss of $303M as revs slump 61% to $2.82B.
  • Valero reported a wider-than-expected Q3 loss of $489M on shrinking margins, low demand.
  • Visa Q4 net hints at turnaround; profit of $514M suggests spending is stabilizing.
  • Wynn Resorts' Q3 net falls 33% to $34.2M on higher interest costs, lower tax benefit.
  • WellPoint's 3Q profit declines 11 percent as enrollment in employer plans continues to slip.

Economic Calendar: Data on Durable Orders, New Home Sales, Crude Inventories to be released today.

Earnings Calendar: ABD, ARGN, ASH, BWA, CACI, CBG, CBT, CCE, CDR, CHDN, COP, E, ESRX, FMC, GD, GSK, GT, HBI, HERO, IP, LVLT, MT, PEG, PX, STD, SYMC, WLP, XRAY.

Recent Egan-Jones Rating Actions
SEALED AIR CORP (SEE)
UNITED TECHNOLOGIES CORP (UTX)
VERIZON COMMUNICATIONS INC (VZ)
THOMAS & BETTS CORP (TNB)
ROPER INDUSTRIES INC (ROP)
CRANE CO (CR)
TEXTRON INC (TXT)
VF CORP (VFC)
JETBLUE AIRWAYS CORP (JBLU)
AMERICAN EXPRESS CO (AXP)
TUPPERWARE BRANDS CORP (TUP)
FORTUNE BRANDS INC (FO)
CELESTICA INC (CLS)

Data provided by Egan-Jones Ratings and Analytics

0
Your rating: None

»


by mdtrader
on Wed, 10/28/2009 - 07:40
#112766

USDZAR still leading the way.

by Cognitive Dissonance
on Wed, 10/28/2009 - 07:51
#112775

Consumer Confidence in US unexpectedly fell in October on job concerns

You always want to ask "who" was expecting "what, when, where and why" in order to get to the root of the matter.

If there ever was a profession susceptible to herd mentality, it's the economists. Followed closely by anyone paid to either see things or ignore things. Or both.

It's nearly impossible to get someone to see one thing when they are paid to see another.

by I need more cowbell
on Wed, 10/28/2009 - 08:02
#112781

Dude, we here at ZH know all MSM is basically Pravda. The poor Russkies in the day only had Radio America ( gee, what a great counterpoint, our bullshit versus their bullshit ).

We are very lucky to have this here interweb thingy.

by Cognitive Dissonance
on Wed, 10/28/2009 - 08:22
#112794

I know that you know that we know that ZH knows about the MSM experience.

I was just regurgitating puke in order to keep my head clear for when the CNBS breaking news banner wakes me up to something really important.

BTW, as sacrilegiousas this may sound, you must always question your sources. Even Zero Hedge. Just ask Tyler, Marla and crew.

by I need more cowbell
on Wed, 10/28/2009 - 08:40
#112819

Oh, I knew that you knew that I knew you knew, I just hadn't posted in a while.

 

by Cognitive Dissonance
on Wed, 10/28/2009 - 09:04
#112846

I love the smart and witty avatars and IDs on ZH but I haven't been able to figure yours out. Maybe it's a regional thing or I'm just slow. What does "I need more cowbell" mean or can't you say in public?

I always hate asking these questions for fear of proving to everyone how stupid I am. :>)

by Anonymous
on Wed, 10/28/2009 - 08:31
#112808

Voice of America

Math question: one minus one equals

by geopol
on Wed, 10/28/2009 - 08:15
#112791

Can't beat the typical Bloomberg headline,,Supermarket stuff

by mdtrader
on Wed, 10/28/2009 - 11:21
#113012

USDZAR breaks out about 7.80 nice W bottom going in.

by mdtrader
on Wed, 10/28/2009 - 11:52
#113023

Crude completes H&S top, looking for a move to $72.50, Gold breaking below breakout level.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.