Daily Highlights: 12.16.09
- Asian stocks rise, led by Japanese financial companies; Dollar strengthens.
- Australia's Q3 GDP grew 0.2%- showing growth momentum isn't yet self sustaining.
- FDIC in 2010 plans to add more than 1,600 staffers, mostly to handle bank failures.
- India to levy antidumping duties of as high as more than 3x the value on some Chinese telecommunication equipments.
- Senate rejects plan to import low-cost drugs.
- Sugar jumps to highest price since 1981 in New York on deficit concerns.
- US Industrial output rises 0.8% - most in three months as recovery gains speed.
- US producer prices rose 1.8% - more than f'cast in November on fuel costs.
- AAR Corp.'s Q2 net rises 28% to $13.3M on absence of charges. Revs fell 7% to $328.7M.
- Accor SA to split company - one focusing on hotels, other on vouchers.
- Adobe swung to Q4 loss of $32M on restructuring charges. Revs dipped 17% to $757.3M.
- American Airlines has proposed making JAL its exclusive Asian partner.
- AmEx 30-day managed delinquencies: 3.9% in Nov vs. 4.1% in Oct.
- Best Buy posted Q3 earnings of $227M helped by lower taxes and 4.6% rise in sales.
- British Airways and union leaders will meet for emergency talks.
- Citigroup says Abu Dhabi wants out of $7.5B share purchase agreement.
- Credit Suisse to pay $536M penalty as part of US investigation into how major Western banks illegally handled funds for Iran.
- Deutsche Bank sees a "significant" drop in its overall loan loss provision for 2010.
- EU overturned a decision ordering EDF to repay $1.3B in unpaid taxes.
- General Growth Properties will seek approval later today of an amended bankruptcy plan.
- Genworth Financial may return to operating profit in the middle of 2011.
- GM plans to repay $6.7B it borrowed from the U.S. govt by June or even sooner: CEO.
- Pitney Bowes plans to cut up to 10% of its work force; to save $200M annually from 2012.
- Stanford University has pulled $5B of private-partnership interests from the auction block.
- Wells Fargo priced 426M common shares at $25 each, raising $10.65B to repay TARP funds.
- Weyerhaeuser announces intent to elect REIT status; timing under consideration.
Economic Calendar: Data on Building Permits, Housing Starts, Crude Inventories,
FOMC Rate Decision to be released.
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Data provided by Egan-Jones Ratings And Analytics