Daily Highlights: 10.6.09
- Apartment vacancies in the U.S. rose to 7.8% - a 23-year high.
- Asian stocks rise on US Services Industries data, higher commodities prices.
- Australia raised its cash rate target by 25 bps - first Group 20 to unwind stimulus.
- Dollar weakens as newspaper says Gulf States may drop greenback for oil trades.
- European, asian stocks advance; BHP Billiton, Dexia, Adidas shares climb
- Gartner sees narrower '09 chip revenue fall but cuts '10 forecast.
- Gold inches up towards $1020 on weak dollar
- Japan banks may avoid bad loans under debt moratorium as Kamei eases rules.
- Holiday retail sales may drop for second year, NRF forecasts
- Mantega says Brazil is buying $10B IMF bond, becoming net creditor.
- Oil above $70 as global stocks gain
- U.S. advertisers spent $10.9B on Internet ads in the first half of 2009, a 5.3% decline.
- US Service industries expand for first time in a year as recovery widens.
- AIG said to be close to selling Taiwan insurance unit to Primus Financial
- Brocade Communications in focus on reports of the company is seeking a suitor.
- Ciena in talks to buy substantially all of optical networking, Ethernet assets from Nortel.
- Cisco, Salesforce.com team up to sell service for call centers; will connect via Internet.
- CVS expects to lose one-third of subsidized Medicare drug members next year.
- Enbridge to construct $250M crude oil pipeline in ultra deepwater Gulf of Mexico.
- Energy Future Hldg plans $6B bond exchange at discount to cut debt.
- Goldman Sachs in talks to amend the terms of a $3B loan to embattled CIT Group.
- GrainCorp Ltd. to buy United Malt for $655M; increases profit forecast.
- Mazda Motor to sell new shares to raise capital and narrowed its full-year loss f'cast.
- MGM Mirage cuts condo prices in Las Vegas by 30%.
- Mosaic Co. expects potash demand to return to “normal” by 2H of its fiscal 2010.
- Nomura Holdings will raise about $4.8B from a share offering that was oversubscribed.
- Samsung's Q3 net more than doubles to $3.7B, beating est., helped by higher prices.
- Societe Generale in talks to buy Dexia SA's 20% stake in Credit Du Nord.
- Societe Generale seeks $7.06B in rights offer to replenish capital.
- Symetra Fincl Corp., partly owned by Berkshire Hathaway, to raise $575M via an IPO.
- Texas Instruments sees no value in breaking into Intel Corp.’s turf.
Recent Egan-Jones Rating Actions
DARDEN RESTAURANTS INC (DRI)
REGIONS FINANCIAL CORP (RF)
PNC FINANCIAL SERVICES GROUP INC (PNC)
ENERGY FUTURE HOLDINGS CORP (TXU)
BROCADE COMMUNICATIONS (BRCD)
SEAGATE TECHNOLOGY (STX)
GENERAL DYNAMICS CORP (GD)
BERKSHIRE HATHAWAY INC (BRK_A)
SEMPRA ENERGY (SRE)
LODGENET INTERACTIVE CORP (LNET)
TALISMAN ENERGY INC (TLM CN)
PIONEER NATURAL RESOURCES CO (PXD)
MURPHY OIL CORP (MUR)
Data provided by Egan-Jones Ratings and Analytics