Daily Highlights: 1.26.10
- Asian stocks fall as China tightening concerns deepen; Yen, Dollar advance.
- Bank of Japan holds interest rate steady to fight deflation as Yen rises.
- China stocks drop a third day as loan outlook weighs on banks, developers.
- Chinese banks may see addln increase in their reserve ratios take effect today: media.
- Existing-home sales plunged in December by 16.7% - raising fresh concerns.
- Fed officials consider adopting interest on reserves as new benchmark rate.
- Obama to propose a 3-yr freeze on $447B in discretionary federal spending.
- S. Korean economic growth eases to 0.2%, slowest pace in three quarters.
- Treasury's Barofsky investigates New York Fed over AIG bailout disclosures.
- Lotte will acquire South Korea's Buy the Way Chain for about $235M.
- Alcoa announces contribution of up to $600M to its defined benefit pension plans.
- Amgen said annual revenue will rise by as much as 6% in 2010, boosting shares.
- Packaging Corp posts Q4 EPS of $0.16 (cons $0.13); revs fell 2.5% to $532.2M.
- CVC Capital pays $773M to buy department store unit of PT Matahari Putra Prima.
- Apple sees Q2 EPS of $2.06-2.18 (cons $1.77); revs at $11.0-11.4B vs. cons $10.37B.
- Apple posts 49.6% rise in Q1 profits at $3.38B; revs rise 32% to $15.68B.
- Goldman Sachs is limiting compensation for UK-based partners to £1M.
- EU opened an antitrust investigation into proposed JV between BHP Billiton, Rio Tinto.
- Delta Air to invest $1B over next four years to upgrade aircraft and passenger facilities.
- US FDA approved Medtronic's heart valve that can be implanted without open-heart surgery.
- Halliburton's Q4 earnings fell 48% to $243M as revenue weakened by 25% to $3.69B.
- AK Steel Hldg swung to Q4 profit of $ 39.8M and noted an increase in shipments.
- Quest Diagnostics' Q4 net rises 6.9% to $181.6M, beating estimates on improved margins.
- Vmware: current qtr revs of $580-600M (cons $530M); Y10 revs of $2.45-2.55B (cons $2.28B).
- Walmart will cut about 11,200 jobs next month.
- Zions Bancorp Q4 loss lower at $176.5M as loan write-offs reduced to $292.1M from $390.7M.
Economic Calendar: Data on Case-Shiller 20-city Index, Consumer Confidence to be released today.
Earnings Calendar: ABC, ALTR, AOS, ASH, BHI, CBE, DAL, DD, ELY, EMC, GLW, JNJ, MCK, MHP, NUE, NVS, PEBO, RFMD, RYN, SANM, SHW, SI, TLAB, TRV, VZ, WASH, X, YHOO.
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