Daily Highlights: 1.29.10
- Asian stock markets were trading sharply lower Friday after Wall Street's losses.
- Bernanke confirmed by Senate for second term as Fed Chairman in 70-30 vote.
- China's economic planning agency sees crude oil at average $80 a barrel this year.
- Euro trades at almost 9-mt low versus Yen on Greece's budget turmoil.
- European January inflation accelerates to fastest in 11 months
- India raises bank reserve rate by 75 bps, more than expected; Keeps key interest rates.
- Japan Consumer Prices fall 1.3% in December - the 10th monthly decline.
- Japan December industrial production increases 2.2%, less than estimated.
- Spain to announce budget deficit cut plan, seeking to avoid Greece’s fate
- UK Consumer Confidence rose in January on optimism for economic outlook.
- AIG draw on Fed credit line increases by $2.4B, most since october
- Airgas misses by $0.04, posts Q3 EPS of $0.65. Revs fell 12.7% to $942M. Lowers FY10 view.
- Altria Group Inc.'s Q4 net rose 6.8% but results missed expectations amid lower cigarette vol.
- Amazon.com's Q4 net jumped 71% to $384M as revs gained 42% to $9.52B.
- AstraZeneca faces $1.2B of Seroquel drug legal costs,
- Baxter Intl's Q4 net flat at $572M, revs up 11% to $3.47B helped by FX movements.
- BNY Mellon in talks to buy PNC Fincl's global invt-servicing unit for $2.5B.
- Chubb Q4 EPS beats by $0.20, comes at $1.66; sees FY10 net premiums flat to down 2%.
- Eastman Chem reports Q4 EPS at $1.14 (cons $1.00); sees FY10 EPS at $4.25 (cons $4.28).
- Eastman Chemical's Q4 loss widened to $32M on impairment charges. Revs fell 1.3% to $1.33B.
- Ford says fewer than 1% of US workers accept buyout.
- Ford swung to Q4 profit of $868M as revenues gained 22% to $35.4B.
- Genworth posts Q4 profit of $40M on lower invt losses. Revs fell 6.4% to $2.46B.
- Honeywell's Dec. net income declines from $707M to $698M.
- MGM Mirage is preparing to sell its stake in the Borgata casino in Atlantic City.
- Microsoft beats estimates, posts 60% rise n Q2 net at $6.66B on 14% rise in revs at $19B.
- SouthGobi shares fell as much as 16% in their Hong Kong trading debut on Friday.
- Toshiba 3Q losses shrink as chip business recovers
- Toyota speed-up suits say malfunctions go beyond models with suspect pedal.
Economic Calendar: Data on GDP, Chicago PMI, Univ of Michigan Sentiment to be released today.
Earnings Calendar: ACI, ALV, CVX, DCM, DOV, FO, HON, IDXX, MAT, SAIA, UCBI.
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Data provided by Egan-Jones Ratings and Analytics