Daily Highlights: 3.16.10

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  • Asia stocks rise on speculation Bank of Japan will ease policy.
  • Builders in Feb probably broke ground on the fewest U.S. homes since October.
  • China plans to keep its foreign trade policies, including the yuan exchange rate, stable.
  • China, Japan reduce holdings of US Treasury debt as global demand wanes.
  • China plans to keep its foreign trade policies, including the yuan exchange rate, stable.
  • Continental Airlines Inc. will start charging for food for economy-class
  • Crude oil trades below $80 after Dollar gains, driving down commodities.
  • EU Ministers lay groundwork for lifeline to Greece, deny threat of default.
  • Fed weighs how and when to signal higher rates.
  • AIG raised $452M through the sale of 8.5M shares of Transatlantic Holdings.
  • Ameren announces plans to reorganize Illinois Utilities.
  • Boston Scientific Corp. plans to pull certain models of defibrillators off shelves.
  • Chinese battery and car maker BYD to boost capex 59% in 2010 to expand its production.
  • Consol Energy to pay $3.48B cash to buy Appalachian E&P business of Dominion Resources.
  • Genpact to sell 28M shares; expects sales of $285-290M in the current quarter.
  • Google's China internet license may expire this month amid pullout concern
  • Limited Brands to pay special dividend of $1/sh; board approves new $200M buyback program.
  • Munich Re and Berkshire among reinsurers with gains in policyholders' surplus
  • Orascom Telecom Q4 net loss at $46M on Algeria, Pakistan tax costs.
  • Rio Tinto, Chinalco to jointly develop Simandou iron-ore project in Guinea.
  • Sony, Michael Jackson's estate sign recording deal valued at $250M for 10 albums over 7 years.

Economic Calendar: Data on Building Permits, Housing Starts to be released today.

Earnings Calendar: ABK, AIR, AKRX, ALOT, APP, ATSC, CIT, DB, DFS, DNE, EM, IVAN, XRIT.

RECENT RATING ACTIONS

NORTHROP GRUMMAN CORP (NOC)
ACCO BRANDS CORP (ABD)
BOSTON SCIENTIFIC CORP (BSX)
DOMINION RESOURCES INC/VA (D)
CONSOL ENERGY INC (CNX)
PEPSI BOTTLING GROUP INC (PBG)
PEPSICO INC/NC (PEP)
PHILLIPS-VAN HEUSEN CORP (PVH)
PANTRY INC/THE (PTRY)
STATE STREET CORP (STT)
SMITHFIELD FOODS INC (SFD)
KEYCORP (KEY)

Data provided by Egan-Jones Ratings and Analytics