Daily Highlights: 10.6.2010

• Asian stocks advance on speculation central banks will act to spur growth.
• Central Banks may follow BOJ in new bond purchase round as growth falters.
• Copper soared to a 26-month high, on the back of a weaker dollar.
• Hong Kong presses for RMB-denominated IPOs.
• IMF chief warns on exchange rate wars; fears risk to global recovery.
• Japan said to consider imposing capital surcharge over Basel III on banks.
• Mexico to sell $1B of bonds due in 100 years.
• Oil is near five-month high after US services expansion, fuel stockpiles.
• Service companies in US expand at faster pace than projected: ISM.
• Spot gold, futures climb to records; Silver extends rally to 30-year high.
• US Treasuries gain, pushing five-year yields to record low before Labor data.
• AAR awarded $450M task order under new USTRANSCOM contract.
• Allied Irish Banks to start selling its 22.4% stake in M&T Bank Corp., valued at $2.2B.
• Bank of America Corp. will exit the wholesale mortgage-lending business Tuesday.
• BE Aerospace to buy aerospace thermal-mgmt products maker TSI Group for a $310M.
• Cisco may announce videoconferencing for consumers in challenge to Skype
• Costco's Q4 net rises 15.5% to $432M on 7.8% jump in revs to $24.13B.
• Crucell NV agrees to J&J's $2.42B takeover bid.
• Diamond Foods reported Q4 EPS of $0.34 (cons $0.28); revs rose 55.2% to $176.6M.
• Equinix sees Q3 rev at $328-330M (cons $336.78M); EBITDA greater than $140M.
• Ford said to aim for 35% cut in urban Lincoln dealerships as sales slump.
• GMX Resources lowers capex for 2011 from previous guidance of $175M to $152M.
• Hitachi affiliate plunges after saying its German unit falsified earnings
• Motorola said its open to developing phones on Microsoft's mobile software.
• Prada SpA is studying an IPO in Hong Kong for the first half of 2011.
• Rio Tinto says BHP iron-ore venture faces potential regulatory obstacles.
• Terex plans $600M debt tender as credit line amended.
• Thermadyne Hldgs to be bought by PE firm, Irving Place, for about $200M.
• Toyota plans to offer rebates of up to $3,000 to spur Lexus sales in US.
• Univision Communications seeks amendments to $8B in senior credit lines.

YUM! Brands beats by a cent, posts Q3 EPS of $0.73 as revs rose 3% to $2.86B.

Earnings Calendar: AYI, BLUD, BSET, CAMP, COST, EMMS, HELE, MAR, MON, RT, STZ.

RECENT RATING ACTIONS
VALEANT PHARMACEUTICALS (VRX)
OXFORD INDUSTRIES INC (OXM)
FIRSTENERGY CORP (FE)
USG CORP (USG)
EL PASO ELECTRIC CO (EE)
AMERICAN EXPRESS CO (AXP)
IRON MOUNTAIN INC (IRM)
PLAINS EXPLORATION & (PXP)
TEREX CORP (TEX)
YRC WORLDWIDE INC (YRCWD)
LODGENET INTERACTIVE CORP (LNET)
ENTERGY CORP (ETR)

Data providwd by Egan-Jones

Comments

[cnbcsucks]

So far this morning, I see that planned layoffs are up 7%, total mortgage applications are down slightly and Ireland was downgraded by Fitch and put on negative watch.  And of course, futures are up.

I've come to believe that we could be under nuclear attack this morning and the futures would still be up.  No nuke can trump the power of QE2.

[colorfulbliss]

Nope....Futures are unchanged. However that sheet of worthless green paper in your wallet is in its death throes!  At least until the other CB's of the world figure out how to outdue that little bearded counterfeiting bastard and his lackeys !!!! 

[cnbcsucks]

The great currency debasing race to the bottom!

[max2205]

I wouldn't buy a Mexican 100 yr bond with your money.

[99er]

Mexico to sell $1B of bonds due in 100 years.

WTF? Are they on drugs or something?