Daily Highlights: 12.17.09
- Asian currencies decline, led by Won, Peso, as US recovery boosts dollar.
- China stocks fall on new share sales, worst losing streak since September.
- Dollar rose to a 3-month-high against the euro FOMC remarks.
- ECB said to start consulting Banks, investors on collateral transparency.
- Fed signals markets return to health while extending low rates for economy.
- Homeowners with mortgages of more than $1M are defaulting at almost twice the US rate.
- Hong Kong asset prices face risk of 'sharp corrections,' Central Bank says.
- Leading Index in US probably rose, signalling sustained economic growth: Bloomberg Survey.
- Oil falls to near $72 in Asia as investors mull global crude demand outlook.
- Singapore exports jump 8.7 percent in November, first annual increase in 19 months.
- US House approved $154B economic-aid package and a $290B hike in legal limit on govt debt.
- ABM Industries beats by a cent, posts Q4 EPS of $0.39. Revs dip 4.2% to $868M.
- AIG reportedly set to list Asian unit in Hong Kong, seeking to raise up to $20B.
- AMR Corp may increase the $1.1 B it’s offered to invest with TPG in Japan Airlines.
- ANZ raises A$2B from convertible preference share issue; takes its Tier I ratio to 10%.
- AutoZone Board authorizes repurchase of an additional $500M of its common stock.
- Brian Moynihan to succeed Ken Lewis as BofA CEO.
- Cedar Fair LP to be purchased for $11.50/sh by Apollo Global Management LLC.
- Cisco's bid to acquire Starent Networks Corp. gets regulators approval.
- Citigroup sold 5.4B shares at $3.15 apiece, less than the $3.25/sh paid by US govt.
- Danaher Corp. sees Q4 EPS at $1.05-1.10 (prev $0.99-1.09) on lower costs, strong demand.
- FTC accused Intel of using illegal tactics to stifle competition.
- Herman Miller's Q2 sales fell 28% to $343.7M, earnings down 70.5% at $9.6M.
- Hovnanian Entrps posted qtrly loss of $250.8M, revs fell 39.4% to $437.4M.
- J&J to acquire privately held medical-technology company Acclarent Inc. for $785M.
- National Australia Bank to buy Axa Asia's Australia, NZ units for $4.2B, trumping AMP.
- Nissan expect to sell 600,000 passenger cars next year in China, up 16% from 2009 levels.
- Paychex Inc. reported 10.1% fall in Q2 earnings at $125.9M; revs fall 5.2% to $496.6M.
- Treasury halts plan to sell off Citi stock as investors demand lower prices.
Economic Calendar: Data on Initial & Continuing Claims, Leading Indicators to be released today.
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