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Daily Highlights: 11.1.2010

Tyler Durden's picture





 
  • Asian stocks, emerging currencies, oil climb on China manufacturing, Korea data.
  • Chinese factories get busy; Official PMI shows surprise gain, sends stocks higher.
  • South Korea's inflation rate climbs to 20-month high, exports accelerate.
  • US unemployment probably hovered near 10% as Fed discusses additional easing.
  • 3M is using acquisitions, its own labs to diversify into areas as biometrics and fuel cells.
  • Ambak to file for bankruptcy if prepackaged plan is unsuccessful.
  • Bancorp of New Jersey announces special $0.33 cash dividend.
  • Chevron Q3 earnings fell 1.6% on weaker U.S. dollar and higher costs. Revs up 7.5%.
  • China Citic Bank said Q3 profit increased 51% to $972M, on continued growth in lending.
  • China Construction Bank's Q3 net rises 31% to record $5.93B on higher lending.
  • Colgate-Palmolive plans $438M debt offering.
  • Corning's Sept. net income rises from $643M to $785M.
  • Constellation Energy swings to Q3 loss on $2.5B in write downs to value of nuclear generation plant.
  • DISH Network and Fox Networks reach comprehensive programming agreement.
  • Enel raises about $3.1B in renewable energy initial share offering.
  • ICBC paid $1 to acquire the Prime Dealer Srvcs unit of Fortis Securities from BNP Paribas.
  • Lukoil plans to sell $800M of 10-year bonds at 6.25%.
  • Merck's Q3 net dropped 90%, hurt by a $950M reserve booked for its pain drug Vioxx.
  • Nomura slumps to 28-year low after profit tumbles 96% on overseas losses.
  • Northeast Utilities raised 2010 EPS to $2.10-2.20 vs. $2.01 cons, up from $1.95-2.05.
  • Oracle seeks $2.3B in SAP 'humiliation' trial over downloaded code.
  • Ryanair raises 2010 profit guidance to €380-400M, after Q3 net climbs 32%.
  • TransDigm that’s buying rival McKechnie Aerospace, is seeking $1.98B in bonds, loans.
  • Weyerhaeuser posts Q2 net of $1.12B on ~$1B in income-tax adjustments. Revs up 20%.
  • WPP joined peers in signalling a recovery in ad industry by saying that Q3 sales rose 12%.

Economic Calendar: Data on Personal Income & Spending, ISM Index, Construction Spending to be released.

Earnings Calendar: ACV, AES, APC, APL, CGNX, CTB, ED, HUM, IOC, L, RE, ROG, SANM, UWBK, VMC, WINN, Y.

RECENT RATING ACTIONS
ESTEE LAUDER COS INC/THE (EL)
CONOCOPHILLIPS (COP)
CARDINAL HEALTH INC (CAH)
OWENS & MINOR INC (OMI)
NORFOLK SOUTHERN CORP (NSC)
STARWOOD HOTELS & RESORTS (HOT)
EASTMAN CHEMICAL CO (EMN)
CELGENE CORP (CELG)
BRUNSWICK CORP/DE (BC)
FLOWSERVE CORP (FLS)
GENERAL MOTORS CO (GM)
BRIGGS & STRATTON CORP (BGG)

Data provided by Egan-Jones

 


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Mon, 11/01/2010 - 08:42 | Link to Comment PeaBird
PeaBird's picture

Do these:

China Citic Bank said Q3 profit increased 51% to $972M, on continued growth in lending.

China Construction Bank's Q3 net rises 31% to record $5.93B on higher lending.

have something to do with this:

Chinese factories get busy; Official PMI shows surprise gain, sends stocks higher.?

Just askin'.

Mon, 11/01/2010 - 09:45 | Link to Comment Djirk
Djirk's picture

Go 3M....look for the winners who acquire and/or grow market share in slow markets! Not to mention invest in innovation....oh they pay a dividend too grandma!

 

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