Daily Highlights: 12.9.2010
- 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.
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Data provided by Egan-Jones