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Daily Highlights: 12.10.09
- Asian shares were mostly lower Thursday as continued risk aversion hurt demand.
- Australian employers add 31,200 jobs, six times estimates; currency gains.
- Australia's jobless rate unexpectedly falls to 5.7 percent in November.
- Bank of Korea keeps key interest rate at record low at 2% as economy recovers.
- China puts squeeze on property speculators with tougher sales tax penalty.
- China says US, Russia dumped electrical steel.
- Climbing yen, economy concerns sends Japan stocks lower; Nikkei loses 1.4 percent.
- Congress may give relief to car dealers who lost franchises due to govt-funded bankruptcy.
- Foreclosure filings in US to hit record for second year with 3.9M.
- Geithner extends $700B TARP bailout program until October of 2010.
- Iceland lowers key interest rate by a full point to 10 percent.
- US Wholesale inventories rise in October, break record stretch of 13 declines.
- Yen weakens on signs of global recovery, easing risk aversion; Euro gains.
- AbitibiBowater sold its stake in a hydroelectric power plant to Hydro-Quebec for $582.9M.
- AOL gets independence from Time Warner on Thursday.
- AT&T to introduce "incentives" to encourage iPhone customers to cut back on data usage.
- BofA completes repayment of $45B in government bailout funds.
- BWAY Holding beats by $0.08, posts Q4 EPS at $0.47. Revs fell 12.2% to $249.4M.
- Citigroup in talks for equity offering; efforts on to repay $20B in bail-out funds within days.
- Citigroup, Goldman, 10 other banks said to plan talks on loans with Obama.
- Costco's Nov. 2009 $266M net income near the same as last year's $263M
- Daimler reaches agreement that gives job security until the end of 2019 to 37,000 employees.
- Delta Air Lines, United say business travel returns as worst of slump ends.
- Dubai carrier Emirates gets over $1B to finance 6 Airbus A380s despite sheikdom's woes.
- Hess Corp to sell $750M of notes with a 6.0% coupon maturing on January 2040.
- London Stock Exchange challenging NYSE with plan to offer futures on FTSE 100 Index in 2010.
- Oracle preparing a stiff defense of its proposed purchase of Sun, ahead of EU hearing.
- Panasonic to take control of Sanyo for $4.6 billion, forming global electronics giant.
- Pall Corp.'s Q1 net rises 56% to $67M despite a 5.4% dip in revs to $547M.
- RBS close to selling its retail- and commercial-banking ops in China, India and Malaysia to HSBC.
- Toys R Us narrows Q3 loss to $67M on cost cuts - best operating performance since 2006.
Recent Egan-Jones Rating Actions
MOHAWK INDUSTRIES INC (MHK)
PENSKE AUTO GROUP INC (PAG)
AVON PRODUCTS INC (AVP)
BROWN-FORMAN CORP (BF)
ASBURY AUTOMOTIVE GROUP INC (ABG)
AUTONATION INC (AN)
CKE RESTAURANTS INC (CKR)
KROGER CO/THE (KR)
ARROW ELECTRONICS INC (ARW)
SUPERIOR ENERGY SERVICES (SPN)
HELIX ENERGY SOLUTIONS (HLX)
KIMCO REALTY CORP (KIM)
SIMON PROPERTY GROUP INC (SPG)
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Hey, are we missing today's Unemployment numbers?
"Initial claims" (maybe wrong term because of translation) rising against expectations. Not my expectations, eh!
Just got it through a Spanish market-cheerleading site, they made an feeble effort in diminishing the fact by claiming "probable distortion because of Thanksgiving". WHT! LOL!
Nice ramp job just ahead of the figures...makes one wonder whether somebody knew something...
DavidC
I have been short (been crushed) but I think I am going neutral to long because since all these banks are paying the TARP back means there is no way we can go down. If we crashed they can't go and get the money back so......Any thoughts?
Oracle the database company really wants its hands on sun. The flash movie and spyware company. This is going to be a huge boon for wasting your time collecting useless data on people to try various manipulative marketing techniques or failed law enforcement enterprises.