Daily Highlights: 3.1.2011
- Australia's central bank keeps benchmark interest rate steady, as expected.
- China Treasury Holdings rise to $1.16 trillion in December, US data show.
- China’s PMI fell to 52.2 from 52.9 in Jan - slowest pace in six months.
- European economy recovers; joblessness below 10% but inflation still above target.
- Oil trades near one-week low after Saudi Arabia offers to cover supplies.
- US approves first deepwater drilling in Gulf since BP oil spill.
- Altra Hldgs reports Q4 EPS of $0.24 (cons $0.22); revs rose 16.8% to $130.5M.
- AutoZone's same store sales up 7.1%.
- Barclays Plc agrees to buy Citigroup’s Egg credit card assets to add customer accounts at about $3.2B.
- Bayer AG reports unexpected Q4 loss of $199.5M on Schering brand write-down.
- Citi under fire over disclosure; Regulator concerned about valuation of troubled securities.
- Daiichi Sankyo to buy Plexxikon for $935M, add cancer drugs.
- EOG Res to sell at least 11.8M shares in an offering to the public.
- Franklin Covey sees Q2 sales, earnings to be significantly higher on YoY basis.
- General Mills, Nestle said to take lead in bidding for stake in Yoplait.
- Gilead's $35 HIV prevention pill fails to win doctor support.
- Goldman estimates possible legal losses at $3.4B.
- Isle of Capri reports Q3 loss of $0.08; revs rise 2.2% to $232M.
- JP Morgan disclosed in regulatory filing that losses resulting from being named in more than 10,000 legal proceedings could total up to $4.5B more than current reserves.
- Luxottica's Q4 net profit rose 88%, predicts a strong 2011.
- Olin acquires PolyOne's interests in SunBelt partnership for $132.3M.
- Range to sell its Barnett Shale properties for a purchase price of $900M.
- Rogers to purchase 1.2M Class B non-voting shares for cancellation in private purchase.
- Siemens said to weigh IPO for Osram unit within two months.
- Sotheby's beats by $0.06. Reports Q4 EPS of $1.38; revs up 45.7% at $318M.
- Universal Health misses by $0.03, posts Q4 EPS of $0.58. Revs rose 20.8% to $1.56B.
- URS misses by $0.15, misses on revs; guides FY11 revs below consensus.
- Ventas agreed to acquire rival Nationwide Health Properties for $5.8B.
- VMware authorized the purchase of up to $550M of its stock through the end of 2012.
- WR Berkley increases co's share repurchase authorization by 7% to 10M shares.
Economic Calendar: Data on Construction Spending, ISM Index & Auto Sales to be released today.
Earnings Calendar: AKRX, AZO, BGFV, BYD, CWST, DPZ, DY, DYN, HOV, IMO, MBI, MDR, XRIT.
Recent EJR Reports
DEERE & CO (DE)
SOUTHWESTERN ENERGY CO (SWN)
VENTAS INC (VTR)
NATIONWIDE HEALTH PROPERTIES (NHP)
INTERPUBLIC GROUP OF (IPG)
STRYKER CORP (SYK)
MARSH & MCLENNAN COS INC (MMC)
JUNIPER NETWORKS INC (JNPR)
JC PENNEY CO INC (JCP)
NORDSTROM INC (JWN)
JUNIPER NETWORKS INC (JNPR)
MYLAN INC/PA (MYL)
Submitted by Egan-Jones