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Daily Highlights: 10.30.09
- Asian Stocks rise as earnings, Japan jobless data, stoke growth optimism.
- Bank of Japan keeps benchmark rate at 0.1%, stops buying corporate debt.
- Dollar falls for fourth month against Euro, US growth aids risk demand.
- Japan central bank forecasts 3 years of deflation as it ends emergency credit steps.
- Oil poised for biggest monthly gain since May on optimism over US demand.
- U.S. Economy expands for the first time (+3.5%) in more than a year amid stimulus.
- U.S. Home vacancies increase to 18.8M as lenders seize properties.
- Alcatel-LucentQ3 net loss widens to $269 million as carrier sales in Europe fall.
- Audi 3Q operating profit falls 54 percent to $515 million.
- Bare Escentuals reported Q3 EPS of $0.24, exceeding average analyst estimate by 17%.
- Burger King's Q1 net falls 3.2% to $46.6M as revenues fell 5% to $636.9M.
- Expedia Inc.'s Q3 net rises 23% amid higher bookings, rise in hotel, car rental revenue.
- Exxon Mobil reported a fourth straight drop in profit after demand slumped for fuels.
- Kodak's Q3 loss stood at $111M, as revs fell 26% to $1.78B - worse than expected.
- Macquarie Infrastructure to split its portfolio of roads into two separately listed entities.
- MetLife Inc. reported a $620M qtrly loss led by $857M of derivative losses.
- Motorola posted a Q3 profit of $12M, as cost cuts offset a 28% drop in revenue.
- Panasonic ups Y09 operating profit f'cast 60% on improving sales.
- Priceline.com to replace Schering-Plough which is being acquired by Merck, in S&P 500 Index.
- Procter & Gamble's earnings fell 1.2% as revenue slid. Colgate's profit rose 18%.
- Samsung Electronics posts record $3.1B profit on chip, LCD prices.
- Sony swung to Q2 loss of $287.5 million, but expects its full-year loss to narrow.
- Sprint Nextel's Q3 loss widened to $478M as subscribers continued to exit the co.
- Toshiba ekes out small profit to $1.1M in 2nd quarter on cost-cutting, higher memory chip sales.
- Volvo rival offer by Sweden's Konsortium Jakob may be made by end of week.
Economic Calendar: Data on Personal Income-Spending, Chicago PMI to be released today.
Earnings Calendar: ACI, AEE, ALU, AOC, CEG, CMI, CVX, D, DUK, EL, GAS, LNT, MDC, MDU, SNE, SNY, WPO, WY.
Recent Egan-Jones Rating Actions
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STANLEY WORKS/THE (SWK)
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BORGWARNER INC (BWA)
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Last month saving rate revised down to 2.8% while this month goes to 3.3%. Wages and income down – transefer payments up and taxes down - on trend. That drives the better bottom line disposable personal income. Prosperity is back
The whitehouse vs edmunds.com over C4C - lol
"The Obama administration on Thursday lashed out at a prominent critic of its Cash for Clunkers program, arguing that the popular trade-in initiative helped give the auto industry and the economy a much needed boost in the past few months.
In a blog post on whitehouse.gov, the administration argued that a report on Clunkers by automotive Web site Edmunds.com "doesn't withstand even basic scrutiny" and is based on "implausible assumptions.""
Can't wait till the day the .gov has to rebut a story first presented by ZH
US Govnt Epitaph-----borrowed to death---amount to large to write.
continuing saga.
http://www.bloomberg.com/apps/news?pid=20601206&sid=aXV_9HqO0kJg
White House data due out this afternoon will show the government's economic stimulus programs created or saved about 650,000 jobs through Sept. 30 - a figure officials are prepared to tout as a significant success. The reports cover only $150B of the $339B in stimulus spending that occurred through that date.
Amazing!! If you take the White House at its word regarding the jobs it has saved (I don't), we've spent $230,769.23 per job created/saved.
It sure does help that idiots like this (http://www.y*utube.com/watch?v=19v5Kjmc8FI&feature=related) have no fucking clue about basic math, economics. money, work, value, productivity, etc.
I don't know whether to laugh or cry.
Smoke and mirrors boys, smoke and mirrors.
Tyler, A suggestion on how to organize main blocs daily highlights, CB is doing a greta job in the EU, consider organizing the other two blocs the same way, you can't trade/invest without having a clear picture of all blocs,
US Highlights
EU Highlights
Asia Highlights
http://www.zerohedge.com/article/european-highlights-october-30#comment-...
Heat