Daily Highlights: 11.5.09
- 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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