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Daily Highlights: 11.5.09

Tyler Durden's picture





 
  • Asian stocks fall as South Korea fuels growth concern.
  • China shares rise for 5th day to 12-week high, extending gains on recovery hopes.
  • Congress giving homebuyers a $6,500 tax break.
  • Fed signals return to growth alone doesn't warrant interest-rate increase.
  • Oil prices slipped below $80 a barrel Thursday in Asia as the U.S. dollar strengthened.
  • US, EU ask WTO to probe Chinese export curbs on 'critical' raw materials.
  • Yen, Dollar rise on concerns jobless gains signal slow recovery.
  • Aetna’s $16.7B contract won in July to provide health insurance to US military personnel
  • Allstate Corp. posts Q3 profit of $221M on far smaller catastrophe, invt losses.
  • Chrysler projects breaking even next year, net profit in 2011.
  • Cisco expects to return to revenue growth for Q2, sees revs up 1-4% YoY.
  • CVS's Sept. quarter rose from $736M last year to $1.0B this year.
  • Deutsche Post reports net loss of euro83M.
  • GM will devise a new restructuring plan for its Opel and Vauxhall units "very soon".
  • Hyatt Hotels Corps IPO raises $950M at $25/sh - third-biggest US IPO of 2009.
  • Merck "actively looking" to buy biotechnology cos in the "single-digit" billions of dollars.
  • Molson Coors's Q3 earnings rose 37% to $235.3M amid a derivative gain, cost cuts.
  • Munich Re's 3rd quarter net income surges to euro651M.
  • Murphy Oil Corp.'s sees Q4 EPS at $0.75-0.90 vs. cons. est of $1.18.
  • New York's attorney general filed antitrust charges against Intel.
  • News Corp. ups Y09 operating profit estimate after Q1 net rises 11% to $571M.
  • Nissan narrows its full-year net loss forecast on higher estimated sales in China, US.
  • Polo Ralph Lauren announces additional $225M stock repurchase authorization.
  • Prudential Fincl boosted Y09 EPS f'cast by 40 cents to $5.40 to $5.60/sh on better results.
  • Qualcomm's qtrly net falls 8.5% to $803M, triggered by charges. Revs down 18%.
  • Time Warner's Q3 profit fell 38% to $661M as advertising sales continued to slide.
  • Toyota sees lower Y09 loss at 200B yen (prev 450B yen) on stimulus measures.
  • Transurban rejects $6B offer from Canada Pension Funds; shares rise.
  • Unilever reports 36 percent fall in net profit for third quarter.
  • Whole Foods f'casts Y09 EPS at $1.05-1.10, vs. cons. est. of $1.11.
  • Zurich Fincl Srvcs Q3 net rises almost 6x to $909M on fewer catastrophe claims.

Recent Egan-Jones Rating Actions

THERMO FISHER SCIENTIFIC (TMO)
CHARLES RIVER LABORATORIES (CRL)
CLOROX CO (CLX)
DAVITA INC (DVA)
TRW AUTOMOTIVE HOLDINGS (TRW)
CON-WAY INC (CNW)
KRAFT FOODS INC (KFT)
ROYAL CARIBBEAN CRUISES LTD (RCL)
VULCAN MATERIALS CO (VMC)
HERBALIFE LTD (HLF)
JOHNSON & JOHNSON (JNJ)
NEWMONT MINING CORP (NEM)
AMERICAN AXLE & MANUFACTURING (AXL)

Data provided by Egan-Jones Ratings and Analytics

 


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Thu, 11/05/2009 - 09:35 | Link to Comment HEHEHE
HEHEHE's picture

I've taken my beating on shorting the Chinese.  I give up.  They win. 

Thu, 11/05/2009 - 09:37 | Link to Comment Bearish Spirits
Bearish Spirits's picture

Whew.  Thankfully we had the EUR magically strengthen overnight to keep the markets positive prior to the data this morning. 

Remember: Productivity is skewed by C4C.  Also, as more manufacturing jobs are cut with a shrinking force, productivity goes parabolic.  Capacity utilization continues to stay low.  No matter what Liesman says, this throws off warning signs.

The indices continue up after bad same-store sales reports from Kohl's and JCPenney's.  Uh huh.

Thu, 11/05/2009 - 09:51 | Link to Comment reading
reading's picture

parabolic seems to be an understatement...they will stop at nothing to continue to hold this thing up at all costs.

Thu, 11/05/2009 - 10:01 | Link to Comment Anonymous
Thu, 11/05/2009 - 10:09 | Link to Comment glenlloyd
glenlloyd's picture

As a very good example of why bailouts don't work and how circumventing the system has negative consequences, witness GM now deciding not to sell Opel / Vauxhall. Had we not bailed out GM there would have been no question.

For all the new GSE's out there sucking at the govt. teet, likely in perpetuity, there are no consequences...no failure.

Fri, 11/06/2009 - 11:16 | Link to Comment Anonymous
Thu, 11/05/2009 - 10:41 | Link to Comment Anonymous
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