Daily Highlights: 3.2.10

• Asian stocks, currencies climb on Greece optimism; MSCI erases 2010 loss.
• Australia GDP growth accelerated to 0.9% last quarter - fastest pace in almost two years.
• Euro rises, Greek spreads narrow on new measures.
• February US auto sales better than expected despite snow, Toyota; Ford bests GM.
• FCC's new plan to propose $25B in new federal spending for high-speed Internet lines.
• Greece passes $6.6B more deficit cuts to avert fiscal 'catastrophe'.
• Oil hovers below $80 in Asia after mixed US inventory report suggests sluggish demand.
• AK Steel hikes prices of carbon steel products by $40 per ton.
• AutoZone's Q2 net rises 6.4% to $123.3M, as revs rose 4% and margins improved.
• Boyd Gaming's Q4 loss narrowed to $1M amid prior-year write-downs. Revs fell 8.9%.
• BP said it will target a $2B increase in underlying pretax profit in its refining division in 2 years.
• CF Industries resumed its pursuit of rival fertilizer maker Terra Industries with a $4.72B offer.
• Cooper Tire swings to Q4 profit of $39.2M amid absence of year-ago charges. Revs up 22%.
• Copart reports in-line, Q2 EPS of $0.40 as revs rose 3.9% to $176.6M.
• Domino's Q4 net more than doubled to $23.6M on higher sales, better margins.
• Dow Chemical to sell its Styron plastics business to Bain Capital Partners for $1.63B cash.
• Ford sells 142,006 cars and light trucks in US in February, 43% more than a year ago.
• GM's Feb sales were up 12.2% at 141,535 units, while Toyota's were down 8.7% at 100,027.
• Google wants US to weigh WTO challenge to China's censorship on internet.
• Hongkong Electric 2009 net profit falls 17% to HK$6.70B on lower permitted rates of return.
• Hovnanian Enterprises posts $236.2M profit in 1st-qtr on tax gain.
• MasterCard CFO: Net revenue growth to exceed 3.9% in 2010.
• Pfizer is bidding as much as €3B for German generic-drug maker Ratiopharm GmbH.
• PVH might purchase Tommy Hilfiger.
• Standard Chartered's 2009 net rises 4.7% to $3.28B helped by its wholesale banking division.
• Staples' Q4 earnings fell 18% to $233.9M on restructuring and legal charges; gives a cautious view.
• Toyota plans low-cost loans, lease program to win back buyers after recall.
• Vivendi SA's Q4 loss narrowed to €958M; expects further growth in 2010.

Economic Calendar: Data on ADP Employment, ISM Srvcs, Crude Inventories, Fed's Beige Book to be released today.

Earnings Calendar: BJ, DDMX, DDS, FLY, FNSR, JOYG, MYRX, RAE, RY, SUNH, WCAA.

RECENT RATING ACTIONS
NEWMONT MINING CORP (NEM)
HARTFORD FINANCIAL SERVICES (HIG)
MCDERMOTT INTERNATIONAL INC (MDR)
GENERAL MARITIME CORP (GMR)
ROWAN COS INC (RDC)
KIRBY CORP (KEX)
OVERSEAS SHIPHOLDING (OSG)
SARA LEE CORP (SLE)
SOUTHWESTERN ENERGY CO (SWN)
OFFICE DEPOT INC (ODP)
SOTHEBY'S (BID)
FOSTER WHEELER AG (FWLT)

Data provided by Egan-Jones Ratings and Analytics

Comments

[truont]

TD, my man--set your clock ahead one day.  Love ZH!

[E pluribus unum]

C'mon Jamie. Let's go Lloyd.

I wanna see some real movement in the S&P today. There are still a few stocks with only double digit PE ratios! WTF? Are you guys really trying? Ramp! RAMP! RAMP! Even Cramer's losing faith. I wanna see 1300 by the end of the month OK?

[mark456]

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