Daily Highlights: 11.17.2010
- API reports surprise decline in crude-oil supplies.
- Asian stocks, commodities drop as China drafts price curbs; Won, Euro fall.
- EU starts work on Irish bank aid package, stops short of immediate bailout.
- FDIC is conducting abt 50 criminal investigations of directors, employees at US banks.
- NAHB index rose to 16 in November from a downwardly revised 15 reading in Oct.
- Amgen Inc. is studying a takeover offer for Actelion Ltd.
- Boeing to buy privately-held CDM Technologies. Terms undisclosed.
- Carlyle's Booz Allen Hamilton raises $238M in IPO.
- China said to hold talks with BPCE, Nova Scotia on stake in Guangzhou Bank.
- Dick’s Sporting Goods shares gained 12% as Q3 results beat estimates.
- Dynegy faces asset sales, bond talks, absent approval of Blackstone deal.
- El Paso Pipeline Partners sells $750M of new debt.
- Energizer obtains antitrust clearance in connection with American Safety Razor buyout.
- FDA backs lupus drug Benlysta, developed by Human Genome Sciences, Glaxo.
- Ford will sell shares in Mazda Motor Corp. to about 10 firms.
- Glaxo rises after FDA panel's backing of lupus treatment with human genome
- GM said to increase IPO size by 31% as US Treasury, UAW sell more stock.
- Heineken plans to start next phase in share buyback program for Femsa deal
- Hot Topic misses by $0.04, posts Q3 EPS of $0.01. Revs fell 3.4% to $183.2M.
- Icahn remains opposed to proposed Blackstone acquisition of Dynegy at $5.00/sh.
- Potash Corp announces $2B share repurchase program.
- Roche Holding AG, as part of an efficiency-and-productivity effort will cut 4,800 jobs.
- Signs of increased demand are emerging in the US: Rio Tinto.
- Target's Oct. net income up from $436M last year to $535M this year.
- UPS forecasts holiday shipping up 7.5%.
- Urban Outfitters hikes its share repurchase program by an addln 10M shares.
- Urban Outfitters posts Q3 EPS of $0.43 vs. year-ago's $0.36 (cons est. $0.42).
- Wal-Mart's Q3 net rises 9.3%; raises FY, Q4 EPS view.
Economic Calendar: Data on CPI, Housing Starts, Building Permits & Crude Inventories to be released.
Earnings Calendar: AMAT, BJ, CHS, DRYS, HOTT, LTD, NTAP, PERY, PETM, TGT, WMG.
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Data provided by Egan-Jones Ratings and Analytics