Daily Highlights: 3.12.10
- Americans' net worth rised 1.3 percent in the fourth quarter to $54.2 trillion.
- Asian shares mixed, Japan stocks gain on speculation central bank to add funds.
- Eurozone industrial output jumps by massive 1.7 percent in January.
- Money fund assets fell by $36.22 billion to $3.090 trillion in latest week.
- Obama to nominate Yellen to post of vice chairman of Federal Reserve.
- Oil drifts above $82 in Asia as month-long rally loses momentum amid weak US crude demand.
- Retail sales probably fell as blizzards kept US shoppers home.
- Democrats resolve disputes over Obama's health overhaul plan; still hunting for votes.
- Total US household debt fell 1.7% in 2009 to $13.5 trillion - fastest pace in a decade: Fed.
- Agrium to terminate offer to acquire CF Industries.
- Air China Ltd. announces plans to raise $954M in a share sale to help fund new planes.
- Air Methods' Q4 profit fell 27% on a sharply higher income-tax bill. Revs up 1.1% at $120M.
- Caterpillar considering relocating some heavy-equipment overseas prodn to a new US plant.
- Discover Fincl Srvcs expects to report Q1 loss on $305M increase in loan-loss reserve.
- Exxon Mobil said it would expand its oil and natural gas production by 3-5% this year.
- Fannie Mae sold $6B of three-year notes in a benchmark issue.
- India's Ranbaxy targets $3B in consolidated revenue in 2012.
- Komatsu says China sales of mining machinery to increase by 50% in 2010.
- Lehman Brothers hid off-balance-sheet transactions to understate its leverage.
- Lenovo will focus on mobile Internet, sales in faster-growing emerging markets.
- Lyondell to reorganize based on a company value of $15.2B after a judge overruled objections.
- Lyondell to tap the debt markets.
- National Semiconductor's Q3 net more than doubled to $53.2M as revs grew 24% to $362M.
- Pall Corp misses by $0.05, posts Q2 EPS of $0.42. Revs rose 3.1% to $560.4M.
- Potash Corp. of Saskatchewan sees Q1 EPS at $1.30-1.50 vs. prev view of $0.70-1.00.
- Quiksilver's Q1 loss narrowed sharply to $5.4M, revs slipped 2.4% to $432.7M.
- Sell-down of unwanted assets by Citigroup may not impose a drag on profit: Bank.
- Smithfield Foods returns to the black, posts Q1 profit of $37.3M on margin strength.
Economic Calendar: Data on Retail Sales, Mich Sentiment & Business Inventories to be released.
Earnings Calendar: ANN, BPZ, HH, HIBB, KIRK, LACO, NWPX, UXG.
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Data provided by Egan-Jones Ratings and Analytics