Daily Highlights: 3.31.10

• Asian stocks decline on concern rally may overvalue earnings; Yen weakens.
• Australia gives in-principle approval for Nomura unit to set up 2nd Australian stock exchange.
• Australian retail sales and building approvals unexpectedly tumbled by 1.4% in February.
• Consumer confidence in US improves, Home Prices climb amid job optimism.
• Greece plans to sell a global bond in dollars to help raise 11.6 billion euros.
• Ireland's banks will need $43B in capital after 'appalling' lending.
• Japanese business sentiment approaches pre-crisis levels, Tankan may show.
• Obama to announce proposals to allow oil and natural-gas drilling off US coastlines.
• Oil hovers above $82 in Asia after mixed supply report suggests US crude demand recovering.
• U.S. stock futures points to a solid first quarter; ahead ADP's estimate.
• Yen declines toward eight-week low versus Euro amid global recovery signs.
• Taiwan's Acer audited Q4 net up 25 percent.
• AT&T stepping up efforts to improve network quality as Apple plans new iPhone version.
• Athabasca Oil Sands Corp. raises $1.32B in biggest Canada IPO since 1999.
• BP awarded about $500M in contracts to drill wells in Iraq's giant Rumaila oil field.
• Chiquita Brands Intl expects Q1 results will be “substantially lower” than a year earlier.
• EMI, Universal Music said to resume talks for catalog.
• H.B. Fuller beats by $0.10, posts Q1 EPS of $0.38. Revs up 11.1% at $309.4M. Guides FY10 revs above cons.
• Honeywell Intl ups Q1 EPS view to $0.45-0.49 (prev $0.40-0.45) on stronger orders.
• Hynix new CEO: 2010 memory chip market likely to be "good".
• J&J gets an offer from PE firm GTCR Golder Rauner for its breast-care business. Terms undisclosed.
• Nissan to sell 4-door electric car in US for just over $25K; could force rivals to cut prices.
• Novell wins jury verdict that it owns the rights to Unix OS and not SCO Group.
• Panasonic rejects Google’s Android for its TVs because of cost.
• Peabody Energy makes unsolicited $3B cash offer for Macarthur Coal.
• SAIC Inc. reduced its full- year EPS f'cast after Q4 profit missed analysts’ estimates.
• Swiss Life's full-year profit fell 21% as year-ago figures were boosted by big disposal gains.

Economic Calendar: Data on Chicago PMI, Factory Orders & Crude Inventories to be released.

Earnings Calendar: ANGO, AYI, BLUD, CASC, DG, MOS, MU, NEXM, RAD, RIMM, SHLM.

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Data provided by Egan-Jones Ratings and Analytics

Comments

[Racer]

The ADP consumer report showed confidence declining again and also UK consumer confidence also declined too, but both of these were out of hours and disregarded of course

[Fortunes Favor]

Here's another highlight: March Chicago PMI 58.8 vs 61.0 consensus, February 62.6.

[mark456]

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