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.

RECENT RATING ACTIONS
PRAXAIR INC (PX)
ABBOTT LABORATORIES (ABT)
UNITED TECHNOLOGIES CORP (UTX)
FLEXTRONICS INTERNATIONAL (FLEX)
HESS CORP (HES)
MOTOROLA INC (MOT)
SMITH INTERNATIONAL INC (SII)
BOEING CO/THE (BA)
CATERPILLAR INC (CAT)
EI DU PONT DE NEMOURS & CO (DD)
PPG INDUSTRIES INC (PPG)
SONIC AUTOMOTIVE INC (SAH)
PEABODY ENERGY CORP (BTU)

Data provided by Egan-Jones Ratings and Analytics

Comments

[Jim_Rockford]

GDP @ 5.7% .... Government Spending Gone Wild. 

All your jobs are belong to us.

[Anonymous]

Here's the roll call for the Bernanke confirmation vote: http://politics.nytimes.com/congress/votes/111/senate/2/16

If all the Republicans had voted against him, Bernanke would not have been confirmed. The Tea Partiers need to be aware of this when they are voting. It's not about the R or D next to their names or the pretty lies they might tell you about being for small government, fiscal responsibility, and free markets. It is about how they vote. Actions speak louder than words.