Daily Highlights: 1.7.10
- Asian stocks rise, led by carmakers, banks; Copper gains, bond risk falls.
- Australian retail sales rose 1.8% in November - the most in eight months.
- China’s central bank said it will target “moderate” loan growth in 2010.
- Dollar near 3-week low on signs global rebound gaining momentum.
- Oil pulls back below $83 in Asia after cold weather sparks 20 percent rally since December.
- Spot iron ore delivered to China rose to the highest in more than a year amid “panic buying” by steel mills.
- AIG unit must pay reinsurance of more than $517M to workers’ compensation insurers.
- AT&T to release smartphones with Palm, Android operating systems this year.
- Bed Bath & Beyond beats by $0.15, posts Q3 EPS of $0.58. Revs up 10.8% at $1.98B.
- Berkshire Hathaway plans to sell $1B of debt in two-part offering.
- Cadbury Board held talks with Hershey board members to encourage a rival offer.
- Continental AG to sell $1.6B of shares to finance debt after regulatory approval.
- Family Dollar Stores' Q1 net rises 14% beating est., revs rose 3.9% to $1.82B.
- Ford sells $1.25B of bonds through Fed program expiring on March 31.
- GM CEO predicted the automaker to be profitable in 2010, ending 5 yrs of annual losses.
- GMAC may post $10B annual loss after taxpayers take majority stake.
- Goldman said to plan to convert Sumitomo Mitsui shares as bank mulls sale.
- Hot Topic reduced its Q4 EPS f'cast as December sales fell more than analysts estimated.
- Immucor posts Q2 EPS of $0.28 (cons $0.26); revs rose 13.2% to $82.6M.
- Metro-Goldwyn-Mayer sets Jan. 15 deadline for potential buyers of studio.
- National Australia Bank may bid for state-owned British lender Northern Rock.
- Netflix, Warner Bros. end dispute with deal on DVD rentals, online viewing.
- Ruby Tuesday beats by $0.03, reports Q2 EPS of $0.01. Revs fell 5.6% to $273.5M.
- Samsung Electronics swings to Q4 operating profit of about $3.3B.
- San Miguel to be acquired by a company controlled by its directors for $3.74B.
- UK's Sainsbury's supermarkets 3rd quarter sales rise 3.8 percent.
Earnings Calendar: GPN.
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