Daily Highlights: 12.23.2010

• Asia stocks rise for a third day as US growth report bolsters confidence.
• China believes its foreign trade will grow at a moderate pace next year.
• Crude oil rises a fifth day after US inventories drop, economy expands.
• Dubai may sell more assets as $20B in debt comes due in next year.
• Electronic shipments from Asia to US rose at 15% pace in Oct - less than half the Jan-June rate.
• Fed may need to trim $600B stimulus as economy grows, Plosser says.
• Greek Parliament approves 2011 budget, $18B deficit-reduction plan.
• VIX falls to lowest since July 2007 as S&P 500 swings are smallest of year.
• Watson Pharma said its oral contraceptive won approval from the U.S. FDA.
• AIG said near to choosing preferred buyer of Taiwan Life Insurer.
• Apax Partners said to be near deal to buy Advent's Takko for $1.7B.
• Bank of America loses bid to stop MBIA using statistics in fraud lawsuit
• Bed Bath & Beyond sees FY11 EPS to be at least $2.86 (vs. $2.81 cons); plans $2B buyback plan.
• Bunge Ltd. to buy Australia's closely held Tully Sugar Ltd. for about $126.6M.
• CarMax's Q3 net rose 10% to $82.4M as revenue jumped 23% to $2.12B.
• Comcast: Regulatory approval process for its deal for NBC Universal to continue into Jan.
• Dover Corp. to acquire NXP Semiconductors NV's Sound Solns business for $855M.
• HCA re-files $4.6B IPO plan after reorganization of hospital chain.
• Kraft says Starbucks plans to sever its 12-year distribution deal in the next month.
• Maersk Oil agrees to buy SK do Brasil assets for $2.4B
• Micron Tech misses est., posts Q1 EPS of $0.15 (cons $0.28), revs up 32.2% at $2.3B.
• Navistar's Q4 net falls 55% on costs related to a new labor contract, loss in its engine unit.
• Rent-A-Center announces acquisition of The Rental Store, Inc. for $75.5M in cash.
• Rio offers $3.9B for Riversdale Mining to gain Africa coal reserves.
• Rio’s A$3.9B Pilbara iron ore operations expansion in W.Australia gets state approval.
• Sony to buy Toshiba chip plant for $598M; will double prodn capacity of image sensors.
• UAW to begin to organize hourly factory workers at foreign-owned car plants in US in Jan.
• Walgreen's earnings rose 19%, helped by cost controls, slowing of new-store openings.

Economic Calendar: Data on Personal Income & Spending, Durable Orders, Initial Claims,

New Home Sales to be released today.

Earnings Calendar: ONAV.
Recent EJR Reports
OFFICE DEPOT INC (ODP)
PROLOGIS (PLD)
PLAINS EXPLORATION & (PXP)
JABIL CIRCUIT INC (JBL)
CINTAS CORP (CTAS)
ROYAL CARIBBEAN CRUISES LTD (RCL)
OXFORD INDUSTRIES INC (OXM)
TESORO CORP (TSO)
NIKE INC (NKE)
CARNIVAL CORP (CCL)
WENDY'S/ARBY'S GROUP INC (WEN)
FRENCH REPUBLIC (223727Z FP)

data provided by Egan-Jones