Daily Highlights: 11.16.09

• APEC leaders back China's anti-protectionist stance, avoid currency debate.
• Asia stocks, currencies rise on APEC pledge to continue stimulus; Dollar drops.
• Euro gains a second day as recovery signs boost demand for risk.
• Japan’s GDP in Q3 rises 4.8% - higher than expectations, on rebound in domestic demand.
• Oil rises from 1-monthy low on speculation demand to increase on recovery.
• Sales, Housing, Output in US probably rose, signalling sustained rebound.
• UK PM Brown to allow regulators to 'tear up’ banks’ bonus agreements.
• Abercrombie & Fitch reported Q3 EPS of $0.30, beating average analyst estimate by 48%.
• Airbus lost euro87 million in 3Q.
• Bain Capital will acquire Japanese call center Bellsystem24 from Citigroup, for $1.12B.
• Bristol-Myers to sell its 83% stake in Mead Johnson Nutrition, focus on new biotech medicines.
• Canon agrees to buy Oce NV for $1.1B to extend lead in office machines.
• EADS Q3 earnings slumped 77% on decline in the value of the dollar, higher research costs.
• Emirates may be ready to sell shares to the public in two to three years.
• GE’s aviation unit is teaming with Aviation Industry Corp. of China to make airplane
  electronics.
• GM to repay $6.7B of the $49.9B in aid it received from the government starting next month.
• GM lost $1.15B in the third quarter.
• Hitachi may raise more than $4.5B in stock, bond sale.
• Iberiabank Corp buys two US banks as failure tally increases to 123 this year.
• JPMorgan to buy remaining shares in Cazenove for around $1.7B by the end of Nov.
• Marsh & McLennan will pay $400M to settle a lawsuit by investors.
• Mitsubishi UFJ hired Nomura, JPMorgan & Morgan Stanley to manage a share sale of ~$11B.
• Repsol YPF considering IPO of its Brazilian unit or seeking partners for discoveries in Brazil.
• Rolls-Royce wins $2B in Air China, Ethiopian Airlines engine orders.
• Taiwan's Display Corp. to acquire Chi Mei Optoelectronics Corp. in a $5.3B all-stock deal.
• Vivendi may decide to sell NBC stake, allowing GE, Comcast to form venture.
• Walt Disney said Q4 profit rose 18%, driven by strength at its cable networks.

Economic Calendar: Data on Retail Sales, Business Inventories to be released.

Earnings Calendar: ADES, ADY, AGO, FC, HAST, LOW, PSUN, TKO, WGNR, WYY.

RECENT RATING ACTIONS
ALLIANCE ONE INTERNATIONAL (AOI)
REYNOLDS AMERICAN INC (RAI)
UNIVERSAL CORP/VA (UVV)
WALT DISNEY CO/THE (DIS)
REVLON INC (REV)
QUEST DIAGNOSTICS INC/DE (DGX)
CISCO SYSTEMS INC (CSCO)
ALLIANT TECHSYSTEMS INC (ATK)
NORDSTROM INC (JWN)
INTERPUBLIC GROUP OF (IPG)
WAL-MART STORES INC (WMT)
FLOWERS FOODS INC (FLO)
PLAYBOY ENTERPRISES INC (PLA)

Data Provided by Egan-Jones Ratings and Analytics

Comments

[Ivanovich]

Looks like all signs point to a another massive up day.  Risk orgy in full effect.