Daily Highlights: 10.28.2010
- BoJ decided to leave its super-easy monetary policy unchanged; cuts growth estimates.
- Agricultural Bank of China, Bank of China Q3 profits beat est. on higher credit demand.
- Carlyle acquires CommScope for $3.36B.
- Comcast's Q3 net fell 8.2% on summer slowdown in subscriber growth.
- Conoco's profit doubled to $3.06B on gains from asset sales and lower writedowns.
- Dassault's Q3 net jumps 44% to €55.4M on 38% higher revenue.
- Daimler's Sept. profit surges from EUR56M to EUR1.61B.
- France Telecom profit rises 1.9%, beating estimates
- Grupo Santander Q3 net falls 25.4% to €1.64B, cites €472M in one-off provisions.
- Hynix's Q3 profit quadrupled to $936M driven by higher sales of chips.
- Hyundai posted a 38% rise in third-quarter net profit, beating market expectations.
- Las Vegas Sands posts Q3 EPS of $0.34 (excl items) vs. cons est $0.24/sh. Revs up 67%.
- MDU Resources misses by $0.04, beats on revs; guides FY10 EPS below cons.
- MMM's Sept. net income up from $957M to $1.1B.
- Motorola's Sept. net incomerises from $12M to $109M.
- Nissan to recall over 2 million vehicles.
- Norfolk Southern's Q3 net rises 47% to $445M as revs rose 19% to $2.46B.
- P&G's Q1 net fell 6.8% to $3.08B amid higher commodity costs. Revs rose 1.6%.
- PetroChina Co.'s Q3 profit rose 13% to $5.21B on strong demand, high oil prices.
- Rent-A-Center Board increases authorization for stock repurchases to $800M.
- Raytheon's Sept. net incomerises from $490M to $728M
- Sanofi-Aventis adj Q3 net up 8.9% at €2.47B; sales up 5.7% at €7.82B.
- Shell's Q3 net rises 6.5% to $3.46B helped by higher oil and gas prices. Revs rose 20.9%.
- Sprint posted a wider Q3 loss of $911M but revs rose 1.5% on higher subscriber addition.
- Teradyne beats by $0.03, posts Q3 EPS of $0.82. Revs up 91.5% at $502.1M.
- Tiger Asia Management gets SEC subpoena after Hong Kong securities probe.
- Universal Health lowers FY10 EPS guidance to $2.45-2.55 (prev $2.45-2.65).
- Visa Inc.'s Q4 profit grew 51% to $774M as consumers spent more.
- Volkswagen's Q3 net jumps to €2.1B from year-ago's €172M. Revs up 18.4% at €30.7B.
- Whirlpool's Q3 net falls 9.2%; expects US market to remain "volatile" in months ahead.
- US Steel's Q3 loss narrows to $51M from yr-ago's $303M as revs rose 60.7% to $4.5B.
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
ACTUANT CORP (ATU)
SPRINT NEXTEL CORP (S)
INTERNATIONAL PAPER CO (IP)
FORD MOTOR CO (F)
JONES GROUP INC/THE (JNY)
PROCTER & GAMBLE CO/THE (PG)
MCKESSON CORP (MCK)
OLIN CORP (OLN)
CENTURY ALUMINUM CO (CENX)
WHIRLPOOL CORP (WHR)
BOYD GAMING CORP (BYD)
CUMMINS INC (CMI)
Data provided by Egan Jones