Daily Highlights: 2.10.10

• China's exports jump 21% as imports gain 86% in January, Government says.
• Fed to reveal its strategy for raising interest rates.
• Germany along with EU plans to offer Greece, other members loan guarantees.
• Japanese core machinery orders increased 20.1% in Dec, much better than expected.
• Oil drops to near $73 in Asia after report shows US crude supplies jumped last week.
• Stocks, commodities, Korean Won rise on speculation of Greek aid, China's growth.
• Wholesale inventories in US unexpectedly decline 0.8% in sign of demand.
• Airgas rejects $5.1B Air Products offer for third time as too low.
• ArcelorMittal beats expectations, posts Q4 profit of $1.07B on higher sales volume and pricing.
• BHP beat cons est., posts 1H profit of $6.1B as revs fell 17.5% to $24.58B.
• Coke posted a 55% gain in Q4 profit at $1.54B amid strong sales in developing economies.
• Elan Corp. posted Q4 loss of $57.7M on debt refinancing costs. Revs rose 11%.
• EOG Resources posts 13.2% fall in Q4 net at $400.4M despite 8% rise in revs to $1.76B.
• Finisar in prelim reports says Q3 revs were at least $166M, higher than its f'cast.
• HNI Corp beats by $0.02, posts Q4 EPS of $0.26. Revs fell 35.1% to $413.7M.
• Honda expands US recall to 378,758 more autos to fix flaws in air bags.
• IAC posts Q4 loss of $1.01B on write-downs; revs rose 4.6% to $367.2M.
• Kraft to close Cadbury's Somerdale plant by 2011, despite earlier pledge to keep it open.
• Levi Strauss' Q4 net rises 8% to $67M on higher margins. Revs dip 5% to $1.21B.
• MetLife said to weigh using $8B of stock to fund AIG Alico buyout.
• Micron Technology to buy chipmaker Numonyx Holdings BV for about $1.27B.
• MillerCoors' Q4 profit surged 89% on prior-year charges to $102.2M, sales dip 1.6%.
• Netgear sees Q1 sales of at least $195M vs. cons f'cast of $178.6M.
• Nissan predicts return to profit this fiscal year as vehicle sales increase in its largest markets.
• Peugeot's 2009 loss widened to €1.16B as revs fell 11% to €48.42B.
• Sanofi's Q4 profit rose to €1.8B from €1.63B, beating analyst expectations for €1.76B.
• Sprint reports a $980M loss for Dec. 2009 quarter.
• Telenor posts 25 pct rise in Q4 profits on strong Asian operations.
• Walt Disney beats est., posts flat Q1 profits of $844 as revs rise 1.5% to $9.74B.
• XL Capital reports $40M qtrly loss after realizing losses of $255M selling risky assets.
• Zale Corp. hires Peter J. Solomon for identifying alternatives, incl sale of the company.

RECENT RATING ACTIONS

MILLIPORE CORP (MIL)
PULTE HOMES INC (PHM)
DELTA AIR LINES INC (DAL)
PIONEER NATURAL RESOURCES (PXD)
CRANE CO (CR)
CON-WAY INC (CNW)
ILLINOIS TOOL WORKS INC (ITW)
CVS CAREMARK CORP (CVS)
BELO CORP (BLC)
HARMAN INTERNATIONAL (HAR)
ALLIANT TECHSYSTEMS INC (ATK)
POLO RALPH LAUREN CORP (RL)
MGM MIRAGE (MGM)

Data provided by Egan-Jones Ratings and Analytics

Comments

[-273]

In London this morning (10th February 2010) at the Royal Society, the UK industry task force on peak oil and energy security launched a new report warning of the dangers of the forthcoming oil crunch.

The report, titled “The Oil Crunch – a wake-up call for the UK economy”, finds that oil shortages, insecurity of supply and price volatility will destabilise economic, political and social activity within five years.

Having assessed the systemic changes caused by the global economic recession, coupled with the projected growth from non-OECD countries, ITPOES predicts Peak Oil will occur within the next decade, potentially by 2015 at less than 95 million barrels per day. (In 2008, production levels were 85 million barrels per day.) The study finds that the recession has delayed the oil crunch by two years. This provides invaluable time to plan for a future which will see structural increases in oil prices coupled with shortages and increased market volatility.

This is the first time leading businesses have warned that a peak in cheap, easily available oil production is likely to hit by 2013, posing a grave risk to the UK and world economy. The warning comes from a broad spectrum of industry (Arup, Foster + Partners, Scottish and Southern Energy, Solarcentury, Stagecoach Group, Virgin Group).

[Going Down]

Headline: Obama Clueless

“I know both those guys; they are very savvy businessmen,” Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. “I, like most of the American people, don’t begrudge people success or wealth. That is part of the free- market system."

http://www.bloomberg.com/apps/news?pid=20601087&sid=aKGZkktzkAlA&pos=1

[IKEA Is Swedish]

Replace "savvy businessmen" with "cunning crooks".

[Simple]

+1!! ok maybe it's not appropriate but could anybody explain me what roshhashanah and other jewish holidays are doing on house schedule http://www.house.gov/house/House_Calendar.shtml  

any link to TA25 (TelAvivStockExchange)? compare this index to last year's rally... mmmmm

[fedusw (not verified)]

Thanks for the upsdates ...

more news here: http://newsreelz.blogspot.com

[Grand Supercycle]

No more counter trend rally: the SP00/DOW downtrend and the USD uptrend reasert their dominance yet again.

This is very bearish for equities.

http://www.zerohedge.com/forum/market-outlook-0

[What a mess_man]

China's exports jump 21% as imports gain 86% in January, Government says.

Are you friggin' kidding me?  I do not believe anything these people say.  They propaganda makes our government and MSM media look good.

[Going Down]

You Can Say That Again

"I was driven only by one thing, which was an understanding that if the system collapsed, the price would be paid by the American people," Paulson said. "I certainly didn't want to be the Treasury Secretary sitting in the seat when that happened."

http://rawstory.com/2010/02/paulson-being-close-to-wall-street/

[Tom123456]

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