Daily Highlights: 11.16.2010
- Asian stocks drop on signs regional governments acting to combat inflation.
- China October FDI up 7.86% at $7.663B vs. September's $8.4B.
- China's stocks decline to one-month low on inflation, property concerns.
- Crude oil falls for a third day on signs fuel demand recovery may falter.
- South Korea raises interest rate by 25 bps - for second time in 2010.
- US retail sales rose 1.2% to $373.1B in October, compared with September.
- Aeropostale announces $300M increase to its existing share repurchase program.
- AstraZenecais seeking to sell Astra Tech, unit that makes dental implants, for $2B.
- Axa Asia Chairman, Directors recommend Axa SA, AMP bid.
- Buffett takes BNY Mellon stake, adds to Wells Fargo holding.
- Dubai Holding thrown $2B lifeline; govt says banks can expect to win advisory deals.
- EMC Corp. to purchase Isilon Systems Inc. for $2.25B, or $33.85/sh, in cash.
- GM said to boost IPO price by 14% to $33 as demand grows.
- Hana Group in talks again to buy Lone Star Funds’ 51% stake in Korea Exchange Bank.
- Home Depot's Oct. net income rises from $689M last year to $834M this year.
- Infineon Q4 net jumps to €390M, sales rise 55% to €942M.
- Lowe's Q3 profit rose 17% to $404M on lower discounts. Revs rose 1.9% to $11.59B.
- Mattel announces additional $500M share repurchase authorization.
- Motorola is targeting Jan for spinoff of its handset unit, splitting the company in two.
- Nordstrom beats by a cent; posts Q3 EPS of $0.53. Revs up 11.7% at $2.09B.
- TD Ameritrade: Client trades per day in Oct were up 14% from the previous month.
- Transocean announces agreement to purchase high-specification jackup for $195M.
- Urban Outfitters posted Q3 EPS of $0.43 (cons $0.42); revs rose 13.4% to $573.6M.
- US District Court rules from Bench in Lilly's Favor, confirms validity of Alimta patent.
- WalMart's Oct. net income rises from $3.24B last year to $3.44B this year.
Economic Calendar: Data on PPI, Industrial Prodn, Capacity Util & NAHB Market Housing Index to be released.
Earnings Calendar: ANF, ARM, BOBE, DKS, GFRE, HD, LZB, PFED, SKS, TJX, WMT.
RECENT RATING ACTIONS
BANK OF NEW YORK MELLON (BK)
EMC CORP/MASSACHUSETTS (EMC)
MACY'S INC (M)
LOWE'S COS INC (LOW)
JC PENNEY CO INC (JCP)
WILLIAMS COS INC/THE (WMB)
CATERPILLAR INC (CAT)
CBL & ASSOCIATES PROPERTIES (CBL)
FORTUNE BRANDS INC (FO)
ASBURY AUTOMOTIVE GROUP INC (ABG)
INTEL CORP (INTC)
GENERAL MOTORS CO (GM)
- advertisements -