• Amid a Depression and Linked Heavily into Western Europe, Latvia's Government Collapses Today!
    Reggie Middleton
    03/19/2010 - 10:03
    As I warned in my Pan-European Sovereign Debt Crisis series and amid a depression, this Eastern European government has collapsed. Western European countries (and their banks) have material claims within this country, and when combined with pressure from the PIIGS, may be the ones that set off the financial/economic contagion daisy chain. It is difficult to determine who sets it off, which is why it is best to attempt to determine the path of the contagion instead...
  • Where Do Pensions Stand on Post-Crisis Reforms?
    Leo Kolivakis
    03/19/2010 - 07:34
    A recent joint poll by Responsible-Investor.com, the Network for Sustainable Financial Markets and AQ Research, showed more than 90% of investment professionals believe moral hazard has increased. And yet, global pension funds and wealth funds who manage trillions of dollars have not taken the lead to push for financial reforms. Why do they acquiesce, and not push for meaningful post-crisis reforms?
  • Google: A Moral Company
    Econophile
    03/19/2010 - 00:48
    The fact that Google will not kowtow to Bejing and will walk away from the market of greatest potential is to me a commendable act. This is a companion piece to my series, "China's Fragile Economy, Its Housing Bubble, and What It Means To Us." China is not a liberal country, by far.

Daily Highlights: 12.3.09

Tyler Durden's picture
Submitted by Tyler Durden on 12/03/2009 08:18 -0500



  • 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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by heatbarrier
on Thu, 12/03/2009 - 08:30
#150506

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.

by deadhead
on Thu, 12/03/2009 - 08:31
#150517

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.

by Gilgamesh
on Thu, 12/03/2009 - 09:31
#150577

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.

by Gordon_Gekko
on Thu, 12/03/2009 - 10:06
#150615

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.

by Anonymous
on Thu, 12/03/2009 - 08:32
#150519

Bernanke headed up to the hill today. Anyone know approximately what time this circus begins?

by Hephasteus
on Thu, 12/03/2009 - 08:45
#150534

War is peace.

Slavery is freedom.

Surge is withdrawal.

Wealth is righteousness.

Comcast is Comcastic.

The list grows.

by Gordon_Gekko
on Thu, 12/03/2009 - 10:24
#150650

Fiat paper is money.

by Gordon_Gekko
on Thu, 12/03/2009 - 10:03
#150613

I am forecasting $2000 Gold in 2010...and even that's not too high.

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