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Daily Highlights: 12.8.2010

Tyler Durden's picture




 
  • Asian stock markets mostly lower after muted performance on Wall Street, oil slides.
  • China purchases $3.1B of Japanese bonds as Yen beats Dollar, Euro.
  • Euro slips to $1.3209 amid ongoing worries about eurozone finances.
  • Consumer credit in US unexpectedly increased in October for second month.
  • German exports down 1.1 percent in October following previous month's strong rise.
  • Japan’s October machinery orders fell 1.4% from month before. Cons est. 0.1% decline.
  • Job openings in US increased in October by 351,000 - the most since Aug 2008.
  • Most Asian stocks rise; Won drops on North Korea shelling, Treasuries fall.
  • US Treasuries fall on concern demand will wane at $21B 10-year auction.
  • 3M says it may fall short of its long-term sales-growth goal next year; earnings to rise.
  • Aegon says low interest rates in U.S. may hurt profit in 2011.
  • Apax in exclusive talks to buy ISS Holding for $8.5B.
  • ArcelorMittal in Q1 plans to spin off its stainless-steel business to its holders.
  • Aston Resources sold a 15% stake in its Maules Creek mine to Itochu for $339M.
  • Automakers, UAW said to study expanding profit-sharing before labor talks.
  • AutoZone's Q1 net rises 20% to $172.1M as revs improved by 13% to $1.79B.
  • Berkshire sells $500M of notes as borrowing costs fall; to repay Clayton Homes' debt.
  • BofA will pay $137M to settle bid-rigging probe at securities unit.
  • BP is sounding out other energy companies about selling off North Sea assets valued at $1B.
  • Cephalon buys 20% stake in Mesoblast, rights to adult stem-cell therapies.
  • Costco's Nov. net income rises from $266M to $312M.
  • Coty pays $400M to acquire control of China skin-care company Tjoy.
  • Fortune Brands plans to split into as many as three separate businesses.
  • HomeDepot planning $2.5B share repurchase in 2011; Oct. net income $689M to $834M.
  • J Sainsbury shares rally on renewed Qatar takeover speculation.
  • Merck sells $2B of 5-, 10-yr notes in two part offering.
  • Online retailer China Dangdang raises $272M in its US IPO, 23% more than it anticipated.
  • San Miguel to sell 1B shares to expand public ownership, meet exchange requirement.
  • Standard Pacific plans $650M senior debt sale; proceeds to repurchase debt.
  • Talbots' Q3 net rises 17% on higher margins; lowered its EPS f'cast for the year by 14 cents, to a range of $0.70-0.78.

Economic Calendar: Data on MBA Mortgage Applications, Crude Inventories to be released today.

Earnings Calendar: CHKE, DMND, FEED, GEF, IPSU, KFY, ODC, PVH, SAI, UNFI, VOL.

RECENT RATING ACTIONS
MARTIN MARIETTA MATERIALS (MLM)
ISLE OF CAPRI CASINOS INC (ISLE)
MURPHY OIL CORP (MUR)
MASCO CORP (MAS)
HUMANA INC (HUM)
RF MICRO DEVICES INC (RFMD)
AUTOZONE INC (AZO)
NICOR INC (GAS)
AGL RESOURCES INC (AGL)
AETNA INC (AET)
COLLECTIVE BRANDS INC (PSS)

HESS CORP (HES)

Data provided by Egan-Jones

 

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