Daily Highlights: 11.19.09

• Asian stock markets mostly higher Thursday, gold hits another record high.
• China Commercial Aircraft to build homegrown C919 jetliner in Shanghai.
• China shares rise for 5th day on hope domestic consumption will drive new growth
• Euro lower at $1.4880 in European morning trade; Fed comments that rates may stay low.
• Equities in Brazil came under addln pressure on a 1.5% tax on trades in its ADRs.
• French 'Big Loan' to spur growth raises concerns over skyrocketing debt, deficits.
• Gold futures topped $1,150 Wednesday as buyers continued piling into the metal.
• Hong Kong Exchange Chairman Arculli sees 'potential' asset bubbles in Asia.
• Japan stocks down for seventh day as banks hit by dilution worries.
• Oil falls to near $79 in Asia amid mixed signals about strength of global economic recovery.
• Senate Health Bill estimated by CBO to cut deficit $127B, aide says.
• Singapore forecasts 3%-5% growth as economy emerges from deepest recession.
• Lending to UK businesses shrinks in September, 12-month growth at record low.
• Aetna cutting about 625 jobs, will pare more in 2010.
• AmEx to acquire internet-transaction company Revolution Money, for $300M.
• Autodesk expects to post Q4 EPS of $0.24 vs. cons. est. of $0.25.
• BJ's Wholesale Q3 earnings fell 37% amid falling food prices. Revs up 2% to $2.51B.
• Colgate under focus on media reports of merger with Reckitt Benckiser Group Plc.
• DynCorp Intl Inc. admits that it may have violated the Foreign Corrupt Practices Act.
• German chipmaker Infineon 4Q net income rises sharply to $21M.
• Limited Brands posts unexpected Q3 profit of $14.9M, boosts Y09 EPS f'cast.
• Manulife Fincl Corp. to sell as much as $2.7B in new stock to build up capital.
• Pfizer Inc. plans to release generic drugs in Japan as early as 2011.
• Phillips-Van Heusen's Q3 net rises 40% to $83.6M; sales fell 4% to $697M.
• SABMiller 1H net profit down 32 percent, hit by currency movements and lower volume.
• Sears Holdings reports a $127M loss for Oct. 2009.
• Sony not sure it will be able to deliver all orders for its E-Reader in time for Christmas.
• State-owned Russian bank likely to take a stake in Rusal IPO- marking first invt by govt.
• Wells Fargo to buy back $1.4B in auction debt from its clients.

Economic Calendar: Data on Initial Claims, Leading Indicators, Philadelphia Fed to be released.

Earnings: ACTI, ADCT, BONT, BRC, CATO, DKS, FL, GPS, IGLD, INTU, NGG, ROST, SSI.

Recent Egan-Jones Rating Actions
BE AEROSPACE INC (BEAV)
TJX COS INC (TJX)
HERSHEY CO/THE (HSY)
JACK IN THE BOX INC (JACK)
BRUNSWICK CORP/DE (BC)
AMBAC FINANCIAL GROUP INC (ABK)
ETHAN ALLEN INTERIORS INC (ETH)
GOODRICH CORP (GR)
DILLARD'S INC (DDS)
GREAT ATLANTIC & PACIFIC (GAP)
BLOCKBUSTER INC (BBI)
SAKS INC (SKS)
TARGET CORP (TGT)

Data provided by Egan-Jones Ratings and Analytics

Comments

[Daedal]

The Organization for Economic Cooperation and Development doubled its growth forecast for the leading developed economies next year and predicted a further acceleration in 2011 as China powers a global recovery.

http://www.bloomberg.com/apps/news?pid=20601103&sid=aRWN9li8h13s

[Anonymous]

From Ron Paul:

November 19, 2009

Critical Vote on Audit the Fed Today!
by John Tate

A few weeks ago, the Campaign for Liberty sent out an alert that Representative Mel Watt was attempting to water down HR 1207 in the House Financial Services Committee.

The latest reports we have received have informed us that a vote on the Watt amendment could come today!

There's still time for us to stop this attack on Audit the Fed! Click here to get a full list of Financial Services Committee members, along with their contact information.

Financial Services leadership seems determined to include Audit the Fed as part of a regulatory reform package instead of passing it as a standalone bill.

While will still do everything in its power to fight for a standalone vote on Audit the Fed on the House floor, it is critical we challenge Watt's amendment in Committee.

It will become much easier for our representatives to claim they still support Audit the Fed on the House floor if the Watt version passes, when, in reality, Representative Watt's amendment puts restrictions on Government Accountability Office audits of the Fed.

For example, Watt's amendment prevents the GAO from auditing or reviewing decisions to authorize, modify, extend, or terminate loans or liquidity facilities.

Congressman Paul will offer an amendment in Committee restoring an audit of the Fed's entire $2 trillion balance sheet, but we have received word that some of the Democrat members may be waffling on their support for his amendment.

Help us turn up the pressure on these members! Below is the list of Democrats on the committee who have cosponsored H.R. 1207. Please call them and urge them to vote "Yes" on Ron Paul's amendment. Click on their names to get their web contact information.

1. Rep. John Adler, NJ [phone]

2. Rep. Travis Childers, MS [phone]

3. Rep. Steve Driehaus, OH [phone]

4. Rep. Alan Grayson, FL [phone]

5. Rep. Rubén Hinojosa, TX [phone]

6. Rep. Suzanne Kosmas, FL Toll Free: 1-877-956-7627

7. Rep. Dan Maffei, NY [phone]

8. Rep. Brad Miller, NC [phone]

9. Rep. Walt Minnick, ID [phone]

10. Rep. Ed Perlmutter, CO (202)-225-2645

11. Rep. David Scott, GA [phone]

12. Rep. Brad Sherman, CA [phone]

13. Rep. Jackie Speier, CA [phone]