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Daily Highlights: 11.29.2010
- Asian stocks pare gains as Dollar rises on Korea tensions, Ireland bailout.
- Greece wins EU pledge for 4 1/2-year extension to repay emergency bailout.
- Ireland gets $113B bailout as EU Ministers seek to halt debt crisis.
- Ireland to pay 5.8% for bailout as Cowen protects tax rates, senior bonds.
- Oil rises to trade near 10-day high on Europe's debt measures, North Korea.
- Retailers’ stocks may be in the spotlight Monday as investors respond to results from Black Friday.
- UK adjusts projected GDP for 2010 and 2011.
- US Shoppers spend 6.4% more on average during Thanksgiving Weekend spree.
- China Huaneng Group to raise $1.3B in IPO of its renewable energy unit.
- China Huaneng to acquire 50% take in InterGen for $1.23B from India's GMR.
- China Pacific seeks $142M for ING JV stake sale.
- Chinatrust Fincl to raise $1.96B in a new-share sale to strengthen capital base.
- Cnooc JV to buy 60% stake in Pan American Energy from BP Plc for $7.06B.
- Coty close to an agreement to acquire nail-polish maker OPI Products for about $1B.
- Dubai govt considering selling some of its most prized assets, including stake in flagship carrier Emirates Airline.
- Irish Banks receive EUR35B.
- PayPal reported a 25% jump in payment volume on Thanksgiving day.
- Shell has put its South Texas gas fields on the block, expects to realise ~$1B.
- Sony abandons plan to increase its stake in LCD panel mfg unit JV with Sharp Corp.
- Stan Chart to hire about 1,800 people for its global trading, underwriting ops over 3 yrs.
- Target, Staples said they saw better traffic or sales trends at stores.
Earnings Calendar: CFI, EXPR, FLOW, FSGI, ISLE, JOSB, NRGY, SWHC, THO.
RECENT RATING ACTIONS
HARRIS CORP (HRS)
PACCAR INC (PCAR)
DEL MONTE FOODS CO (DLM)
AVNET INC (AVT)
TJX COS INC (TJX)
ARROW ELECTRONICS INC (ARW)
DEERE & CO (DE)
MEDTRONIC INC (MDT)
AGCO CORP (AGCO)
NASH FINCH CO (NAFC)
SYSCO CORP (SYY)
TYSON FOODS INC (TSN)
Data provided by Egan-Jones
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