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)
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KROGER CO/THE (KR)
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Data provided by Egan-Jones Ratings and Analytics