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Daily Highlights: 12.3.09
- Asian stocks rally most since May, led by Japanese exporters; Yen weakens.
- E-commerce sales grew 5% YoY on Cyber Monday—first Monday after Thanksgiving.
- Euro up to $1.5111 in European morning trade as investors await ECB meeting.
- Gold sets third straight record; Newmont Mining forecasts $1,350/oz in 2010.
- Hong Kong should tighten rules to control asset prices: IMF.
- Japan shares jump nearly 4 percent to five-week high on weakening yen.
- Oil trades below $77 after falling as report shows increased US supplies.
- Yen, Dollar fall as economic recovery, stock gains spur demand for yields.
- A. Schulman to buy ICO for ~$6.79/share in cash and stock (deal est. at $191.4M).
- Aeropostale's Q3 profit surged 47% to $62.6M as net sales rose 14% to $228M.
- American, TPG offer $1.1B Japan Air investment, double Delta's offer.
- Bank of America to repay $45B bailout, easing effort to replace CEO.
- Barclays says impairment guidance unchanged by Dubai meltdown.
- Casella Waste Systems swung to Q2 loss of $1.6M as revs declined 15% to $133.7M.
- Collective Brands reported Q3 EPS of $0.61, 23% higher than cons. est.
- Comcast to pay $13.75 billion in cash and assets for control of NBC Universal.
- Comcast said to plan no asset sales to win regulatory approval for taking over NBC Universal.
- ConocoPhillips sets 2010 capex at $11.2B, down 10%.
- Former Ford executives submitted a revised bid for Ford's Volvo unit.
- GE’s exit from NBC Universal to leave CEO Jeffrey Immelt with $15B in cash and scrutiny.
- Human Genome Sciences prices 15.5M common shares at $26.75/share.
- Intuit Inc. to sell its real-estate-products unit to Vista Equity Partners for about $128M.
- Nokia sees 2010 handset industry volumes rising by up to 10%.
- Nortel may sell optical networks unit to Ciena for $769M.
- Peugeot in talks to buy stake in Mitsubishi Motors.
- Siemens posted Q4 loss of $1.7B on writedowns at telephone network venture with Nokia.
- Vertex Pharma raised $442.8M selling stock to fund hepatitis, cystic fibrosis drugs.
- Wal-Mart launches videogame war, temporarily slashes prices on 50 popular videogames.
- Workers at Harley-Davidson's largest plant agreed to job cuts of nearly 50%, longer hours.
Economic Calendar: Data on Initial & Continuing Claims, Productivity-Rev. Q3 to be released today.
Earnings Calendar: AMSWA, CPWM, DLM, DMND, KOS, LAVA, MRVL, NOVL, STST, SWHC, TD, TOL.
RECENT RATING ACTIONS
COOPER INDUSTRIES PLC (CBE)
SUNTRUST BANKS INC (STI)
BB&T CORP (BBT)
AVISTA CORP (AVA)
EMPIRE DISTRICT ELECTRIC (EDE)
SUNTRUST BANKS INC (STI)
LEGGETT & PLATT INC (LEG)
PINNACLE WEST CAPITAL CORP (PNW)
MOTORS LIQUIDATION CO (MTLQQ)
GENERAL ELECTRIC CO (GE)
LSI CORP (LSI)
COMCAST CORP (CMCSA)
STEWART ENTERPRISES INC (STEI)
Data provided by Egan-Jones Ratings and Analytics
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Competitive devaluations games.
Asian stocks rally most since May, led by Japanese exporters; Yen weakens.
Euro up to $1.5111 in European morning trade as investors await ECB meeting.
Workers at Harley-Davidson's largest plant agreed to job cuts of nearly 50%, longer hours.
you just know Rosie will be all over this.
Yes, the tables are being turned on union contract negotiations finally (well, when the other side of the table isn't the US Gov't). The companies are not bluffing anymore about full closures if terms are not accepted.
If only they had bought Gold at the right time, they wouldn't have to be slaving away at a job paying lesser number of faster depreciating bits of paper.
Bernanke headed up to the hill today. Anyone know approximately what time this circus begins?
War is peace.
Slavery is freedom.
Surge is withdrawal.
Wealth is righteousness.
Comcast is Comcastic.
The list grows.
Fiat paper is money.
I am forecasting $2000 Gold in 2010...and even that's not too high.