Daily Highlights: 3.15.10
- Asia stocks, commodities fall on China tightening speculation.
- China’s stocks decline to five-week low on tightening concern.
- Debate brewing in OPEC over what its post-recession production might look like.
- EU finance chiefs to weigh Greek rescue as ministers seek to avoid bailout.
- Euro near 5-week high versus Yen on Greece bailout, BOJ policy.
- Consumer tax hikes hit Greece as EU to discuss debt crisis.
- The Federal Aviation Administration ordered airlines to perform an emergency inspection of some 600 Boeing 737 airplanes.
- German January manufacturing jobs fall 4.9%.
- Japanese govt raised its assessment of the economy for the first time in eight months.
- Nikkei hits 7-wk closing high.
- Tire sales growth in China will be three times the global rate in coming years: Sumitomo.
- US Retail sales increased a seasonally adjusted 0.3% in February from a month earlier.
- Wen rebuffs US calls for higher yuan, risking retaliation from Congress.
- Ann Taylor swung to Q4 profit on improved margins. Offers tepid Q1 EPS outlook.
- Arrow Energy may reject a A$3.3 billion ($3.03 billion) takeover offer from Royal
- CNOOC says its proposed 50% stake acquisition in Bridas Corp. for $3.1B to help its overseas expansion plans.
- Glaxo gets EU approval to sell blood platelet booster Revolade.
- Google appears increasingly likely to shut the China site within week: reports.
- Munich Re and Swiss Reinsurance projected the highest costs in the industry from the earthquake the struck Chile last month.
- New study found Novartis' Diovan failed as it modestly lowered the incidence of diabetes.
- Nortel Networks swings to Q4 profit of $1.78B, helped by gains from divestiture proceeds.
- Phillips-Van Heusen to buy Tommy Hilfiger from Apax Partners for ~$3B.
- Smithfield Foods swings to profit of $37.1M on margin strength. Revs fell 14% to $2.89B.
- Wachovia in talks with Justice Dept over alleged drug-money laundering.
Economic Calendar: Data on Capacity Utilization, Industrial Production to be released today.
Earnings Calendar: APP, ATSC, AWX, BPZ, CACB, COMS, DNE, INSM, TKTM, UXG, WSM.
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Data provided by Egan-Jones Ratings And Analytics