Daily Highlights: 12.9.2010

Tyler Durden's picture
  • Ireland downgraded to BBB+ by Fitch, outlook stable, market yawns
  • Asian stocks, Aussie gain on jobs growth, better-than-forecast Japan GDP.
  • Bank of Korea leaves benchmark interest rate unchanged at 2.5%.
  • EU fines Taiwanese, SKorean LCD panel makers €649M on price fixing charges.
  • India's inflation holds above 'tolerance level,' Indian Central Bank Chief says.
  • Japan’s Q3 GDP grew at an annualized 4.5% - faster than the 3.9% reported last month.
  • Greek loan repayment extension possible in early 2011.
  • More than half of Americans want Fed reined In or abolished: Bloomberg survey.
  • AIG to pay off its debt to the Federal Reserve Bank of New York.
  • BAE Systems plans to cut 1,350 jobs due to an Oct UK govt review of defense matters.
  • Bayer plans to invest around €1B to double its polymer-production capacity in China.
  • Costco's Q1 net rises 17% to $312M; total revenue up 11.2% at $19.24B.
  • Diamond Foods sees Q2 EPS at $0.91 vs. cons est for $0.86.
  • Dollar General announces pricing of 25.0M share secondary offering at $30.50/sh.
  • Greif beats by $0.07, posts Q4 EPS of $1.51. Revs rose 30.7% to $993.9M.
  • Home Depot raises view on better Nov perf; sees 2010 EPS at $1.97 (prev $1.94).
  • Ivanhoe Mines reaches pact with Rio Tinto to secure $6.5B in funds to develop Phase I of Mongolia's massive Oyu
  • Tolgoi copper and gold deposit.
  • Linn Energy LLC plans to sell 10M units of limited liability company interests.
  • McDonald’s Corp. global same-store sales rose 4.8% in November.
  • Neiman Marcus' Q1 net tripled to $25.7M as revs rose 6.7% to $927.2M.
  • Relational Investors LLC, others have upped their stakes in Charles River Lab and are pushing it to explore a sale.
  • SAIC Inc. f'casts 2012 EPS of $1.35-$1.46 vs. cons estimate of $1.49.
  • Salesforce.com to buy Heroku for $212M to tap market for Ruby apps.
  • SEC sues Wimm-Bill-Dann investors, claims insider trading on PepsiCo deal.
  • Smith & Wesson sees FY11 revs of $405-425M (cons est. $429.49M).
  • Standard Charter expects record full year profits.
  • Starwood Hotels targets nearly 40% profit growth p.a. for next 3 years.
  • Stryker boosted its qtrly dividend by 20% to $0.18/sh; ups its stock buyback plan by $500M.
  • Toll Brothers CEO sees nascent rebound in US home sales as worst over.
  • US Treasury aims to sell at least $15B of its shares in AIG starting Q1 of 2011.

Economic Calendar: Data on Initial & Continuing Claims, Wholesale Inventories to be released.
Earnings Calendar: ALOG, COST, NSM, POWL, SFD.
RECENT RATING ACTIONS
HUNTINGTON BANCSHARES (HBAN)
RANGE RESOURCES CORP (RRC)
BELO CORP (BLC)
MCCLATCHY CO/THE (MNI)
LIZ CLAIBORNE INC (LIZ)
DIRECTV (DTV)
BAXTER INTERNATIONAL INC (BAX)
TOLL BROTHERS INC (TOL)
CORNING INC (GLW)
FORTUNE BRANDS INC (FO)
COSTCO WHOLESALE CORP (COST)
PEP BOYS-MANNY MOE & JACK (PBY)

Data provided by Egan-Jones