Daily Highlights: 11.12.2010

• China inflation surges to 25-month high; jump in prices could lead to more rate rises.
• Euro falls to six-week low versus Dollar on Europe slowdown, debt concerns.
• Home prices fell in nearly half of U.S. metropolitan areas in the third quarter.
• G-20 leaders endorse gradual changes in currency values, to develop early warning system.
• Obama opposes permanent top tax rate extension, Advisor says.
• US: Would never „deliberately devalue currency to boost exports?.
• Aegon's Q3 net rose more than fourfold to $905.3M on improved business conditions.
• California Pizza Kitchen sees Q4 EPS at $0.05-0.07 vs. consensus f'cast for $0.15.
• Coal India is considering a Massey Energy Co. mine for its first asset purchase in the US.
• Disney profit declines 6.7% to $835M as revs dip 2% to $9.7B.
• Dynavox Inc. cut its 2011 EPS forecast; says next year's sales will be down 10-15%.
• Essex Rental Corp. to acquire Coast Crane Co. for $80M.
• Finisar raises Q2 guidance; sees EPS at $0.41-0.43 (cons $0.34); revs of $240-241M vs. cons est. $223.67M.
• J&J may be close to making a big play in an emerging class of blood-thinning medicines.
• Malaysia's Petronas Chemicals Grp Bhd. raises $4.1B in the nation's biggest IPO.
• MetLife to halt sale of new long-term care coverage, cites “financial challenges” in the business.
• Microsoft unveils alliance with Sina Corp. to link with China's biggest microblogging srvcs.
• Mizuho to buy a 2% stake in BlackRock Inc. for $500M from BofA.
• Nissan recalls 605,000 vehicles for steering, battery defects.
• Northrop, anticipating leaner Pentagon budgets, to exit shipbuilding and focus on robotics.
• NVIDIA beats by a cent; posts Q3 EPS of $0.15 as revs fell 6.6% to $843.9M.
• Petrobras quarterly profit rises to $5B, misses estimates. Revs up 14%.
• RWE AG warns on 2011 profit; blames on lower electricity and gas prices, higher taxes.
• Vedanta to list 2 units within the next 5 months to reap benefits from rising commodity prices.
• Viacom's earnings fell 59% to $189M on write-downs at the Harmonix videogame op.
• Wal-Mart is offering free shipping on 60,000 online items through the holiday season.
• Yahoo Inc. is evaluating job cuts of up to 20% in its consumer products group.

Economic Calendar: Data on Mich Sentiment to be released today.

Earnings Calendar: A, DHI, DKS, JCP, PZE, SDA, STRI, WEN.

RECENT RATING ACTIONS
VIACOM INC (VIA/B)
BALL CORP (BLL)
SOUTHERN COPPER CORP (SCCO)
WATSON PHARMACEUTICALS INC (WPI)
INGERSOLL-RAND PLC (IR)
WESTERN UNION CO/THE (WU)
CISCO SYSTEMS INC (CSCO)
ADVANCE AUTO PARTS INC (AAP)
PORTUGAL (1174Z PL)
VF CORP (VFC)
SONIC AUTOMOTIVE INC (SAH)
DELL INC (DELL)

Data by Egan-Jones

Comments

[Spartan]

Doesn't QE2 start today?..is it me or is the mainstream media largely ignoring the event.

[Shell Game]

Like Fight Club, 'Rule #1: You do NOT talk about monetary policy!'  Besides, Nielson ratings show that viewers' eyes glaze, curl into fetal position and change channel. 

[EscapeKey]

Guess what?! I got a fever, and the only prescription...is more quantitative easing!!

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