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Daily Highlights: 10.8.2010

Tyler Durden's picture

  • Asian stocks fall for first time in six days after commodities prices drop.
  • China cuts Japan debt holdings most on record after seven months of buying.
  • China's credit rating may be raised by Moody's, Shanghai stocks rise 3.1%.
  • Germany's exports drop 0.4% in August; U.K. Sept. producer prices rise 0.3%.
  • Greenspan says Fed asset purchases may not be enough to get 'money moving'.
  • India said to consider allowing foreign retail buying of stocks.
  • Ireland' rating cut to A+ by Fitch, outlook negative.
  • Kan's Cabinet approves $62B Japan stimulus to boost flagging growth.
  • TIPS 30-yr inflation fate is highest since June on Fed purchase outlook.
  • US Fiscal 2010 deficit seen slightly below $1.3 trillion.
  • Yen at fresh high amid intervention talk; Japan will take ‘decisive action if necessary’.
  • 99 Cents Only reports Q2 sales rose 2.7% YoY to $333.6M vs. $344.2M consensus.
  • Alcoa's Q2 net drops 21% to $61M but revs rose rose 15% to $5.3B on higher vols.
  • Avis Budget plans to sell $400M of debt to help pay for Dollar acquisition.
  • Deutsche Bank to sell $856.6M of commercial mortgage securities.
  • GIC Global Logistics Properties said to raise about $2.64B in IPO.
  • JC Penney's Sept same store sales rises 5.1% vs. cons est. of +3.1%.
  • Justice Dept is looking into internal allegations at Schlumberger.
  • Limited Brands smashed through estimates, Sept sales up 12% (cons +4.1%).
  • Metro-Goldwyn-Mayer in final stages of preparing a bankruptcy-protection filing.
  • Michaels Stores sells $800M of debt in boosted offering.
  • Micron misses by $0.06, posts Q4 EPS of $0.32. Revs jumps 91.5% to $2.49B.
  • PepsiCo Inc.'s Q3 profit jumped 12% to $1.92B as revs jumped 40% .
  • Petrobras to raise $60B in debt markets in five years.
  • ProLogis close to a deal to sell about 180 properties to Blackstone for $1B.
  • Renault selling Volvo stock worth $4.4B after stock jumps
  • Sanofi offered price range as high as $80 a share during Genzyme meeting.
  • Statoil aims to raise up to $850M in fuel unit initial share sale
  • Target Sept same store sales miss est., rises 1.3% vs. cons est. of +1.9%.
  • US Navy awards General Dynamics $401M for nuclear-submarine support work.

Economic Calendar: Data on Nonfarm Payrolls, Unemployment Rate, Wholesale Inventories.

Earnings Calendar: ANCX, GYRO, IL, JXSB, SKY, SMIT.


Data provided by Egan-Jones


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Fri, 10/08/2010 - 08:16 | 634681 i-dog
i-dog's picture

"China's credit rating may be raised by Moody's"

Time for kiss and make up already? That was a short trial separation!

Fri, 10/08/2010 - 08:23 | 634690 eigenvalue
eigenvalue's picture

China is bullshit. The Chinese government has loads of off-balance-sheet commitments and obligations. 

Fri, 10/08/2010 - 09:04 | 634792 Azannoth
Azannoth's picture

Chinas internal obligations are irrelevant, they can alway roll tanks over them like in tienanmen

Fri, 10/08/2010 - 08:17 | 634682 TexDenim
TexDenim's picture

Today is 40 days since the last Hindenburg Omen triggered. So if we don't get a collapse today, all that nonsense about Hindenburg last August is pure BS. Wickipedia says it gave five signals in August, and that the "rules" call for market drop within 40 days. Who writes the rules, I wonder?

Fri, 10/08/2010 - 08:35 | 634706 Hephasteus
Hephasteus's picture

The market began collapsing oct 8th 4am to 9 am new york time. Though you won't see it for a while. If gold doesn't drop today significantly the game is over.

The powers that be have 2 choices. Stop playing. Lose. Keep playing. Lose. One option comes with severe penalties for early withdrawal.

Fri, 10/08/2010 - 09:52 | 634913 TexDenim
TexDenim's picture

Oil up, dollar down, ES right back at 1155? I don't see the collapse?

Fri, 10/08/2010 - 08:17 | 634683 Missing_Link
Missing_Link's picture

Ireland' rating cut to A+ by Fitch, outlook negative.

Ratings  ...  now with 0.001% less bullshit.

Wed, 10/27/2010 - 08:41 | 680124 daniel
daniel's picture


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