Daily Highlights: 11.4.09
- Asian stocks rise for first day in three on profit optimism; Toyota gains.
- Bank of Ireland wrote off euro1.8 billion ($2.7 billion) in bad loans in its first half.
- Baker Hughes's Sept. net income fell from $429M last year to $55M this year.
- Comcast's Sept. net income rises from $771M last year to $944M this year.
- Devon Energy's Sept. net income declines from $2.6B last year to $499M this year.
- Crown Castle Intl reported a slightly narrower Q3 loss, but the loss was greater than expected.
- El Paso Corp.'s Q3 profit sank 85% to $67M on slumping natural gas prices, derivative impacts.
- Ford said its US sales rose 3% last month from a year ago while GM's climbed 4.7%.
- Ford sold $2.5 billion of convertible notes, 25% more than planned.
- Foster Wheeler's Sept. net income declines from $128M last year to $90M this year.
- Hartford posted net loss was $220M compared with $2.63B, in the year-earlier period.
- Healthsouth beats by $0.14, reports Q3 EPS of $0.38. Revs up 3.8% at $472.7M.
- J&J plans to lay off as many as 8,400 employees -- 7% of its global work force in 2011.
- Marsh & McLennan's Sept. net income jumps from an $8M loss last year to a $221M gain.
- MasTec to acquire Precision Pipeline, LLC for a purchase price consideration of $150M.
- Novartis to spend $1B in setting up R&D centre in China.
- Omnicare will pay $98M to settle kickback charges that it engaged in several drug makers.
- ONEOK Partners posts Q3 EPS of $1.00 (cons $0.87); revenues fell 30.4% to $1.56B.
- Pitney Bowes Q3 profit up 5.1% at $103.2M on fewer charges, rev falls 12% to $1.36B.
- Pulte Homes' Sept. loss rises from $280M last year to $361M this year.
- Radian's Sept. net income declines from pos. $37M last year to neg. $70M this year.
- Royal Caribbean's Q3 net falls 44% to $230.4M, as pricing remained soft.
- Sinclair Broadcasting Group's Sept. operating income drops from $37.4M last year to $35.7M.
- Societe Generale's Q3 net more than doubled to €426M; revs triple to €1.77B.
- Swiss Re Net income was 334 million Swiss francs ($327 million) on investment gains
- Telstra Crop says breakup could cost up to A$1.2B.
- Time Warner's Sept. net income drops from $1.1B last year to $661M this year.
- Tinto Group’s Cloud Peak Energy coal unit may raise about $1B in New York IPO.
- TRW's Oct. net income improves from a $54M loss last year to a $56M gain this year.
- Unum Q3 profit doubles to $221.1M on prior-year investment losses. Revs up 3.1%.
- Warnaco's Sept. operating income rises from $48M last year to $60M this year.
Recent Egan-Jones Rating Actions
VULCAN MATERIALS CO (VMC)
HERBALIFE LTD (HLF)
JOHNSON & JOHNSON (JNJ)
NEWMONT MINING CORP (NEM)
AMERICAN AXLE & MANUFACTURING (AXL)
LOUISIANA-PACIFIC CORP (LPX)
EASTMAN KODAK CO (EK)
CONTINENTAL AIRLINES INC (CAL)
ROYAL BANK OF SCOTLAND (RBS LN)
KANSAS CITY SOUTHERN (KSU)
NORFOLK SOUTHERN CORP (NSC)
BURLINGTON NORTHERN (BNI)
DENBURY RESOURCES INC (DNR)
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