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.

RECENT RATING ACTIONS
PEP BOYS-MANNY MOE & JACK (PBY)
BEST BUY CO INC (BBY)
NASH FINCH CO (NAFC)
MASCO CORP (MAS)
METROPCS COMMUNICATIONS INC (PCS)
WEYERHAEUSER CO (WY)
STARWOOD HOTELS & RESORTS (HOT)
CONSECO INC (CNO)
GENERAL MARITIME CORP (GMR)
TEEKAY CORP (TK)
TITAN INTERNATIONAL INC (TWI)
TERADYNE INC (TER)
BRITISH AMERICAN TOBACCO (BATS LN)

Data provided by Egan-Jones Ratings And Analytics

Comments

[HEHEHE]

You didn't mention the announcement of Time Magazine's Person of the Year .... Ben Bernanke

[Gilgamesh]

Tyler doesn't compile this daily list (his is 'Frontrunning').

Data provided by Egan-Jones Ratings And Analytics

[E pluribus unum]

Sugar jumps to highest price since 1981 in New York on deficit concerns.

I don't get the connection. Is the Fed sweetening their shit sandwiches?

[Racer]

E-Trade daily avg revenue trades down 22%

People just don't believe in this false rally when they only have to look around to see the reality

[Racer]

 

USD Bloomberg Global Confidence (DEC) fell to

   

58.87 from 60.3

 

[Anonymous]

Dangerous news of the day....students should be outraged...and the rest of us should worry because what the students can't pick up to ensure some early retiree gets his outsized health benefits and annuitized lottery ticket payout...the rest of us will be asked to pony up while looking for 3rd jobs, while the citi's of the world relish in their subsidies and tax breaks!

Pittsburgh Ponders "Fair Share" Tuition Tax To Fund Pensions

On Wednesday, the City Council is expected to give preliminary
approval to Mayor Luke Ravenstahl’s proposal for a 1 percent tuition
tax on students attending college in Pittsburgh, which he says will
raise $16.2 million in annual revenue that is needed to pay pensions
for retired city employees.

http://tinyurl.com/y9v2vog

[Anonymous]

still no one mentions story out of basel conference...

[Anonymous]

But no one....including thee?