Daily Highlights: 3.11.10
- Asian bourses turn lower after release of higher-than-expected Chinese inflation data.
- Bank of Korea keeps key interest rate at record low as economic growth slows.
- China inflation, production accelerate, adding pressure for stimulus exit.
- Chinese property prices were 10.7% higher than a year earlier in February: Govt agency.
- Federal Reserve gets a new look as regulator of largest, riskiest firms.
- Japan's Q4 GDP grew at an annual 3.8% pace - lower than the prelim reports of 4.6%.
- Oil falls below $82 in Asia as traders look for US crude demand to match growing economy.
- US Senate passes $150B bill for jobless aid, tax breaks.
- World airlines rebound on Asian and Latin Amer. demand, halve 2010 losses forecast to $2.8B.
- Yen rises versus Euro, Dollar as Chinese reports show inflation quickened.
- American Eagle Outfitters' Q4 net rises 81% as both sales grew 7%, margins improved.
- BP will pay Devon Energy Corp. $7B in cash for assets in Brazil, the Gulf of Mexico and Azerbaijan.
- CA to buy IT performance monitoring vendor Nimsoft for US$350M.
- Brown-Forman's Q3 net falls 13% to $107.9M on write-downs. Revs up 9.9% at $861.7M.
- BMW's FYE profit fell 36% to $210M.
- Daihatsu reportedly recalls about 275,000 vehicles due to missing or loose parts.
- Everest Re puts Chile quake, windstorm losses at $250M.
- Gymboree's Q4 net grew 13% to $33.2M as revenues gained 4% to $295.7M.
- Hot Topic's Q4 net falls 44% on lower sales; sees Q1 loss of $0.02-0.05/sh.
- HSBC Holdings Plc’s Swiss private bank says it suffered “serious data theft”.
- Lufthansa expects 2010 revenue, profits to rise despite risks.
- Medtronic brain stimulator missed study goal: FDA.
- Old Mutual FY2009 operating profit up 3%, may list US asset management operations.
- Paramount Energy Trust to buy oil, natural gas assets in Edson area for C$126M.
- Psychiatric Solns in talks to be acquired by Bain Capital, terms undisclosed.
- US Treasury Dept has no clear exit strategy for its investment in GMAC Fincl Srvcs.
Economic Calendar: Data on Continuing & Initial Claims, Trade Balance to be released today.
Earnings Calendar: AIRM, APP, ARO, BKE, DIET, FSCI, JTX, MDZ, MLR, NAVI, PLL, PNY, RAD, SFD, SHFL, STEI, UTSI, ZQK.
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Data provided by Egan-Jones Ratings and Analytics