Daily Highlights: 12.11.09

Tyler Durden's picture
  • Asian stocks rise as China industrial output, US jobs boost confidence.
  • Bank of Korea raises 2010 GDP growth forecast to 4.6% - fastest pace in three yrs.
  • Chain-stores are holding bigger markdowns in reserve trying to gauge how long shoppers will wait for better deals to emerge.
  • China industrial output rises 19.2% - more than estimated as recovery strengthens.
  • China new loans top economists' forecasts, money supply rises by record.
  • EU leaders say stimulus should stay in place until the “recovery is fully secured.”
  • India’s industrial production increased 10.3% in October from a year earlier.
  • Iron Ore imports by China rise 12% in November as steel mills expand output.
  • Obama administration plans to channel money from the government financial bailout fund to small businesses—report.
  • Oil rises toward $71 a barrel on China demand, ample US supplies weigh.
  • Tankan survey may show Japanese recovery is 'slipping into a standstill'.
  • U.S. taxpayers may collect $1.1B to $1.3B for BofA warrants demanded by the Treasury Department in exchange for bailout money.
  • Aiful Corp. said to plan Goldman loan repayment in push to salvage debt talks.
  • Boeing plans to fly its new 787 Dreamliner for the first time as early as next Tuesday.
  • Citadel Broadcasting Corp. is preparing to file for bankruptcy by the end of the year.
  • Costco posted flat Q1 profit of $266M despite a 7.9% rise in revs to $17.3B.
  • CVS chosen for $1B pharmacy benefits contract by Texas Pension Fund.
  • GE won a $1.4B contract to supply turbines and services for an Oregon wind farm.
  • Goldman said its top 30 executives will receive no cash bonuses for 2009.
  • Hanesbrands reaffirms 2010 revs growth of 5% ($200M) from net shelf-space gains.
  • ING Groep to repay Dutch govt $8.3B of state aid including a premium and interest.
  • Kia Motors's US unit to raise $300M from the first kimchi bond sale in more than 2 years.
  • Lehman Brothers to announce sale of two real estate private-equity funds to PCCP.
  • Owens & Minor issues in-line view; sees FY10 EPS at $2.90-3.05 on a4-6% rev growth.
  • Panasonic Corp. to buy 50.19% stake in Sanyo Electric Co. for about $4.6B.
  • Sinopec expects its overseas crude oil output to rise this year after acquiring Addax.
  • United Tech sees FY10 EPS of $4.40-4.65 (cons $4.53); revs of $54-55B (cons $53.3B).

Economic Calendar: Data on Export-Import Prices, Retail Sales to be released today.

Recent Egan-Jones Rating Actions

WASTE CONNECTIONS INC (WCN)
COSTCO WHOLESALE CORP (COST)
ALLIED WASTE INDUSTRIES INC (AW)
OXFORD INDUSTRIES INC (OXM)
WASTE MANAGEMENT INC (WM)
CLEAN HARBORS INC (CLH)
PFIZER INC (PFE)
MCDERMOTT INTERNATIONAL INC (MDR)
MOHAWK INDUSTRIES INC (MHK)
PENSKE AUTO GROUP INC (PAG)
AVON PRODUCTS INC (AVP)
BROWN-FORMAN CORP (BF)
ASBURY AUTOMOTIVE GROUP INC (ABG)

Data provided by Egan-Jones Ratings and Analytics

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Dixie Normous's picture

Hey TD/ZH,

Santelli was just going at Lies-man with the report from yesterday on Emergency Unemployment.

Where did you guys get that page you showed yesterday?

 

overbet's picture

Another insider trading scam. Last night after hours trading I left a bid in for ticker SIRO $1.5 lower than the close and got filled. I pulled it up and looked and there was no news but a steady unlimited offer at the price I got filled at, $33.40. This morning they announced an offering to dillute shares by 15% and the stock is trading at $32.80 offer. F**ing cheaters!!!!

anynonmous's picture

not such good news underlies the retail numbers

http://www.census.gov/retail/marts/www/download/text/advt1.txt

 

and this little gem

The September to October 2009 percent change was revised from +1.4 percent (±0.5%) to +1.1 percent (±0.2%). (i.e. the standard MO of overstating then revising down to make the "current" number look better - but when you get into the details and see what higher gas has contributed etc...)

 

all of the stuff is buried here on this site

 

http://www.census.gov/retail/index.html

Dixie Normous's picture

You mean this:

Notice of New Sample - Estimates in the November 2009 Advance Monthly Retail Trade Survey release are the first estimates from a new sample. For further information on the 2009 MARTS sample revision, please see the following PDF.

And the PDF is a link to this Notice.

Oso's picture

great catches, both of you (Anon and Dix Enorm).  dollar weak = gas prices up?? no_f*cking_way. get out.

 

dxy making a decent move up. lets see if it holds.

trav777's picture

Wow...China flooded their economy with loans and a mandate to build shit no matter if there will never be any demand for it.

And, thus, GDP grows!  Industrial output way up!  Happy days here again!

How the HELL is a PRODUCER supposed to lead us out of a downturn?  Producers don't, consumers do!

Anonymous's picture

> Goldman said its top 30 executives will receive no cash bonuses for 2009.

No cash. Just precious metals.