Daily Highlights: 3.19.09

• Asia stocks rise as US reports boost confidence in recovery; Yen weakens.
• Banks borrowed less from the Fed?s emergency lending program over the past week.
• Euro set for biggest weekly drop in six on concern Europe split by Greece.
• Nikkei hits sixth straight weekly gain, up 0.7% on week.
• US Treasury to sell $118B in notes.
• Papandreou races against time to cut borrowing costs as EU splits on aid.
• Supply of foreclosed homes on the rise again, putting pressure on home prices.
• ACE Limited announces preliminary catastrophe loss estimates of ~125M.
• Arrow Energy rises on speculation Shell, PetroChina may sweeten their $3B takeover offer.
• Auction of MGM closes Friday and it appears half the bidders have dropped out.
• BofA sued First American over unpaid „Lien Protection? claims.
• Brazil's Embraer posts Q4 net of $146.4M, up 31%. Sees 2010 deliveries sliding to 227 jets.
• Cintas Corp.'s Q3 net drops 32% to $49M as revs slid 5.2% to $861.8M on lower demand.
• CME Group, Dow Jones & Co launch JV of Dow Jones Indexes Business.
• Delta Air to add 22 flights on NY-Chicago route.
• GameStop Corp.'s Q4 net falls 7.1% to $215.9M, despite 0.9% rise in revs at $3.52B.
• Google may announce China withdrawal next week, China Business News says.
• Hartford announced the pricing of its public offering of $1.1B aggregate principal amount of its senior notes.
• Hartford senior debt to help repay $3.4B federal bailout and existing debt.
• Lloyds expects to return to profit in 2010 as it reported a strong trading performance.
• Palm Inc. narrows Q3 loss to $22M, warns of significantly lower revenue in the current quarter.
• PolyOne guides higher, sees Q1 EPS of ~$0.15 vs. $0.08 cons; revs of $600M (cons $543M).
• RBS expects UK govt to sell part of whole of its stake by 2013.
• Samsung expects 2010 revenue to grow at a double-digit pace, operating profit to at least meet last year's figure.
• Siemens to cut 4,200 jobs in its IT operations, SIS. Restructuring to cost €400-500M.
• Supervalu seeks to amend and extend senior secured credit facilities.
• Teva bags Germany's Ratiopharm beating Pfizer, to pay about $5B.
• Toyota asked ABC News to retract and apologize for an “irresponsible” report on acceleration.

Earnings Calendar: COMS, DNE, GMET, PERY, PNRG, RHIE, SPDE, TEAM, UG, ULCM, WWON.

RECENT RATING ACTIONS

AMERICAN TOWER CORP (AMT)
ISLE OF CAPRI CASINOS INC (ISLE)
VULCAN MATERIALS CO (VMC)
ROCK-TENN CO (RKT)
BE AEROSPACE INC (BEAV)
LSI CORP (LSI)
YRC WORLDWIDE INC (YRCW)
HARTFORD FINANCIAL SERVICES (HIG)
BLOCKBUSTER INC (BBI)
FRONTIER COMMUNICATIONS (FTR)
SUNTRUST BANKS INC (STI)
WYNDHAM WORLDWIDE CORP (WYN)

Data provided by Egan-Jones Ratings and Analytics

Comments

[Alex Lionson]

Dear Tyler, Marla, and Community, just an Idea - why not to establish a funny ZH nomination - let's say - a Person of the Month/Year and vote for him/her. I was pondering, why the pop-music and cinema world can have their stars, super-stars, charts, Oscars etc? Alternatively, for example let's pick up a big public guy and call it "Papa - G" or "Uncle Big Ben" or whatever, invent a nomination and create a ZH super star. What do you think?

[Grand Supercycle]

Equities are ignoring the rallying dollar.

EURO has resumed it's downtrend.

Wait til the USD rally really gets going ...

http://tinyurl.com/yey34g4

[mark456]

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