Daily Highlights: 11.13.09
- Asian stocks fall, government bonds rally as oil drops; Yuan forwards rise.
- China this year rejected requests to build 47 projects worth 200B to curb excessive capacity.
- Copper prices falls as dollar gains for second day, stockpiles at six-month high.
- Dollar falls versus Krone, Aussie; Europe GDP growth optimism spurs yield demand.
- European Stocks Advance; Richemont, British Airways, Iberia Shares climb
- Eurozone out of recession after 0.4% growth
- FHA reserves fall below legal limit
- Health legislation being considered would force drug makers to disclose amount spent on continuing medical education classes for doctors.
- IEA says rising oil price risks derailing economic recovery.
- Initial Jobless claims in US fall more than estimated to a 10-month low.
- Oil trades near one-month low as US supply gain raises demand concern.
- OPEC output is highest since January; quota may rise in December, IEA says.
- U.S. Treasury confident Congress will increase $12.1 Trillion debt ceiling
- Blockbuster's Q3 loss widened to $114.1M as revenue slipped amid growing competition.
- British Airways agreed to a plan for a $7B merger with Spanish carrier Iberia Lineas.
- E.ON AG ups Y09 EPS f'cast on lower interest costs than previously expected.
- EnCana Q3 profit drops 99% to $25M on weak natural gas prices.
- Intel to pay Advanced Micro Devices $1.25B to settle all antitrust and patent suits.
- KKR puts higher valuation on Dollar General than Walmart in IPO offering.
- Kohl's Corp.'s Q3 net rises better-than-expected 21% on sales growth, improved margin.
- Liberty Global Inc. close to agreeing to pay $5B for Unitymedia GmbH.
- Maersk: Global shipping markets remain weak, uncertain despite tentative signs of pickup.
- Nordstrom's Q3 net rises 17% to $83M on 3.5% rise in revs to $1.87B.
- Porsche swung to a €4.4B ($6.6B) pretax loss in Y09 related to its stake in Volkswagen.
- Time Warner to take $200M in addln charges stemming from the spinoff of AOL.
- Toyota is planning a larger version of its popular Prius hybrid
- United Tech to buy GE's fire-alarm and surveillance-systems unit for $1.82B.
- Vivendi posted a 78% drop in Q3 net, still expects strong profit growth in Y09.
- Wal-Mart offers muted holiday sales view, but raises profit f'cast on lower inventory.
- Walt Disney's Q4 profit rises 18% to $895M, driven by strength at its cable networks.
Recent Egan-Jones Rating Actions
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PLAYBOY ENTERPRISES INC (PLA)
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