Daily Highlights: 3.24.10

• Asian stocks rise on strengthening global economy; Euro declines on Greece.
• Crude oil declines for first day in three on increase in US inventories.
• Euro drops to record versus Franc, 10 month low against Dollar on Greece.
• Fiat seen cutting 5,000 jobs – report
• Japan approves record $1 trillion budget amid debt concerns.
• Japan exports in February increased 45.3%.
• Germany, France agree on IMF role in Greece's budget crisis, Official says.
• Mortgage applications in the US down 4.2%.
• Wall Street despised by Americans in poll showing majority want regulation.
• A.O. Smith Corp. expects to posts 2010 EPS of at least $3.20 (cons $3.10).
• Adobe's Q1 net falls 19% to $127.2M as revs climbed 9.2% to $858.7M.
• Bertelsmann posted its first loss for decades due to slumping advt markets, higher charges.
• Carnival Corp. said it's starting to recover some of its pricing power in the US.
• CNOOC signed contract to buy 3.6 million tons of LNG operated by BG Group.
• ConocoPhillips tells Lukoil that it plans to sell as much as half its 20% stake in the producer.
• Daewoo Ship fell, after Posco investors incl Buffett oppose its possible bid for the shipyard.
• Daimler to pay $185M to resolve investigation into US allegations of paying bribes.
• GMAC said to plan sale of US factoring unit to Wells Fargo.
• Goldman applied for a banking license in India – report
• Google says it's still self-censoring searches in China for web partners.
• HJ Heinz may negotiate at least 10% price cuts in contract talks for processed tomatoes.
• Lions Gate board urge shareholders to reject Carl Icahn's offer to take the co. private.
• PepsiCo Inc. plans to boost sales and profit from its Gatorade brand.
• Rio Tinto may settle prices of iron - ore on a quarterly basis, changing from annual trend.
• T-Mobile USA to add a faster network technology in more than 100 US markets by 2010 end.
• VT Group accepts GBP1.5B bid from Babcock International.
• Walgreen's Q2 net rises 4.6% to $669M amid higher margins, 3.1% rise in revs at $17B.
• Wynn Macau posts 1.4% rise in 2009 profits at $267M on cost-cutting measures.

Economic Calendar: Data on Durable Orders, New Home Sales to be released.

Earnings Calendar: ATSC, CKR, DLIA, GIS, GRZ, GV, INXI, LEN, NEXM, PAYX, RBN, RHT, UG.

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Data provided by Egan-Jones Ratings and Analytics

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