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.
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Data provided by Egan-Jones Ratings and Analytics