Daily Highlights: 3.22.10

• Asian shares mostly down; India's RBI's rate hike dampens demand.
• Bernanke says taxpayers shouldn't bear cost of dismantling financial firms
• China cautioned US against citing its currency as a reason for imposing trade sanctions.
• Historic health overhaul bill passes; Democrats clinch win in 219-212 House vote.
• IMF's Lipsky says advanced economies are facing 'acute' debt challenges.
• Merkel: Greece doesn't need financial help.
• Aetna reaffirms 2010 targets, says 2010 results "are off to a good start."
• Allianz and Corio may buy italy's biggest Mall Porta di Roma for $582M
• Allianz sells third of its stake in China's ICBC for gain of $545M
• Aon to acquire JP Morgan Compensation, Benefit Strategies unit. Terms undisclosed.
• Arrow Energy to sell bulk of its coal seam gas assets to Royal Dutch, PetroChina for $3.15B.
• Barclays Bank is reorganizing into three separate business groups
• Boeing to accelerate 777 and 747 output on rising demand after airline slump
• British Airways and union locked in pay dispute as strike enters third day
• China Mobile is looking at acquisition and investment targets in Asia and Africa.
• Container shipper Orient Overseas posted $402.3M loss in 2009 as revs fell 33% to $4.35B.
• Diamond Foods nears completion of Kettle Foods buyout; ups 2H EPS view to $0.47-0.50.
• EMI holds license talks with rivals, deal could bring in $150M per year.
• Ensco International sells two jackup rigs for ~$95M (book value of ~$63M).
• GM to recall 60,000 automobiles in Skorea, cites steering wheels, fuel hoses problems.
• Liberty Global says it has capital at its disposal to make bid for rival Foxtel.
• Lions Gate Ent board to review Icahn's offer to acquire all its outstanding shares for $6/sh.
• Novell Inc.'s board rejected a $5.75/sh takeover proposal from Elliott Associates LP.
• Perry Ellis Intl posts Q4 net profit of $8.5M as revs increased 2.7% to $190M.
• Royal and PetroChina to buy Arrow after increasing their offer to $3.2B
• Royal Dutch Shell makes significant new oil discovery in the deep waters of Gulf of Mexico.
• Telenor reduces Q4 earnings f'cast by $56M as associated cos' gains were lower than est.
• Teva sees $9.2B Europe revenue by 2015 without acquisitions.
• Virgin Money hires advisers for bid on RBS assets.

Earnings Calendar: ATSG, BXG, CTIB, DXR, EFOI, GRZ, INXI, NWPX, PTR, PVH, RAD, SCHL, TIF, TKTM, TMR, TXI, WSM.

RECENT RATING ACTIONS

CIGNA CORP (CI)
OWENS-ILLINOIS INC (OI)
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EXCO RESOURCES INC (XCO)
AMERICAN TOWER CORP (AMT)
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BE AEROSPACE INC (BEAV)

Data provided by Egan-Jones Ratings and Analytics

Comments

[Ivanovich]

"Bernanke says taxpayers shouldn't bear cost of dismantling financial firms"

Just a bit late on that one, aren't we Banana Ben?

[mark456]

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