Daily Highlights: 12.14.09
- Asian markets rebounded Monday after Dubai received $10B in financing from Abu Dhabi.
- China launches landmark natural gas pipeline tapping into Central Asia's vast reserves.
- Dubai gets $10B in financing from Abu Dhabi, part to be used to pay down Dubai World debt.
- Euro gains after Dubai gets $10 billion of aid from Abu Dhabi.
- France's Sarkozy to unveil details of euro35B plan to spur investment in universities.
- Germany's budget sees a record of $125B in new borrowing next year, spending rise of 10.5%.
- Iraq's Halfaya oil field, with reserves est. at 4.1 billion, awarded to CNOOC, Petronas and Total.
- Japan Tankan sentiment rises at slower pace as Yen's gains threaten profit.
- New legislation to give US govt new powers to break up companies that threaten the economy.
- Oil falls to near $69 in Asia as OPEC doesn't plan output cut at meeting next week.
- Production, Housing starts in US probably climbed as economy picked up: Bloomberg Survey.
- UK housing market recovery will peter out in 2010 on forced sales: Rightmove Plc.
- US govt sells its warrants to purchase common stock in JP Morgan for $936.1M.
- AOL in talks to sell its ICQ instant-messaging service to Russia's Digital Sky Technologies.
- Apple Inc. says it is countersuing Nokia Corp., defending its cellphone technologies.
- AXA Asia Pacific will consider a $11.72B sweetened buyout proposal from its parent and AMP.
- Beijing Automotive reaches tentative deal to acquire certain assets of GM's Saab unit.
- Cadbury says rivals emerge to Kraft bid, lifts goals.
- Citigroup said to near accord on $20B TARP payment, US stake sale.
- Citigroup sued by Terra Firma Capital for alleged fraud in EMI acquisition .
- Clear Channel Comm's revs declines eases; fell 8% in Nov vs. -19% in Oct.
- ExpressJet Airlines' November traffic rises 13% in November from a year earlier.
- Fairfield Residential LLC, a large apartment owner and developer, filed for bankruptcy.
- Google has designed a cellphone - Nexus One, that it plans to sell directly to consumers.
- Toyota plans to start selling plug-in hybrid vehicles to consumers in 2011 at low price.
- Vodafone open to selling its 4.4% indirect stake in Bharti Airtel, may list Vodafone Essar.
- Woodside Petroleum Ltd. to sell $2.3B of stock to expand Australia's Pluto project.
Earnings Calendar: ALCO, SMTS, TTWO, PAY
Companies to watch: AOL, Apple, Cadbury PLC, ExpressJet, Global Crossing, P&G, Take-Two Interactive.
RECENT EGAN-JONES RATING ACTIONS
AMERICAN TOWER CORP (AMT)
MCKESSON CORP (MCK)
CARDINAL HEALTH INC (CAH)
OVERSEAS SHIPHOLDING (OSG)
GAMESTOP CORP (GME)
OWENS & MINOR INC (OMI)
ALCOA INC (AA)
CHATTEM INC (CHTT)
STEEL DYNAMICS INC (STLD)
PROCTER & GAMBLE CO/THE (PG)
SARA LEE CORP (SLE)
WASTE CONNECTIONS INC (WCN)
COSTCO WHOLESALE CORP (COST)
Data provided by Egan-Jones Ratings and Analytics