Daily Highlights: 11.18.2010
- Asian stocks rebound as commodities climb, China government acts on prices.
- BoE plans to adopt a less-intrusive approach to overseeing U.K. banks.
- Euro climbs versus Yen, Dollar on optimism Ireland aid to calm debt market.
- IMF warns of Hong Kong housing-bubble risks.
- Irish talks turn to government bailout as EU officials join IMF in Dublin.
- Moscow approves $32B sale of state assets; disposals to help cover budget deficit.
- Portugal borrowing cost rise to 4.813% from 3.260% it paid at the previous auction.
- Singapore forecasts economy to grow 4% to 6% in 2011, extending expansion.
- Spain's Q3 GDP unchanged at 0.2% vs. Q2 on austerity measures, high unemployment.
- Air France-KLM swung to Q2 profit at €290M as revs surged 19% to €6.65B.
- Applied Materials posts Q4 EPS of $0.36 (cons $0.31); revs rose 88.9% to $2.89B.
- Best Buy, following Walmart, to offer free online shipping through Dec. 21.
- Blackstone Group said it has raised more than $14B for its latest buyout fund.
- Brinks acquires Mexico's largest secure logistics company for $60M.
- Citigroup tells Congress it will refile thousands of foreclosure documents.
- Continental Airlines may sell $427.2M of debt backed by planes.
- DryShips beats by $0.13, posts Q3 EPS of $0.38. Revs fell 1.4% to $222.3M.
- Genworth Fincl plans to sell $400M of debt in a boosted offering to help repay debt.
- Glencore said to weigh raising $10B in 2011 share sale.
- GM raised at least $20.1B selling common and preferred shares in its IPO.
- Limited Brands ups 2011 EPS view to $1.82-1.97 (cons $1.94); declared a $3/sh
- Special dividend and authorized a $200M share repurchase program.
- Lowe’s Cos. plans to sell $1B of debt for working capital, stock buybacks and capex.
- Merck's experimental drug anacetrapib showed it met safety goals.
- Prudential Financial raised about $970M through a public offering of 18.35M shares.
- SABMiller’s H1 net rises 15.1% to $1.12B; EBITDA up 12.3% at $2.46B.
- Sears's Oct. net loss rises from $127M to $218M on weaker sales.
- Target predicted its Q4 would show the best holiday sales gains in three years.
- Toshiba to shut chip plant, outsource production, Semiconductor Chief says.
Economic Calendar: Data on Initial & Continuing Claims, Leading Indicators, Philadelphia Fed to be released.
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