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
- 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.
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