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Daily Highlights: 3.5.10

Tyler Durden's picture




 
  • Asian stock markets rise as optimism ahead US jobs report grows; Tokyo jumps 2 percent.
  • Asian stocks rose, after U.S. jobless claims fell & on speculation Bank of Japan will expand easing measures.
  • China plans to sell $29B of Yuan debt this year as part of stimulus.
  • China sets 8% GDP goal for 2010.
  • Fed Presidents say interest rates need to be low early in US recovery.
  • Greece raised $6.85B in a bond sale, but looming debt auctions by EU countries could make it difficult for borrowing more.
  • Japan says it won't comply with possible bluefin tuna export ban ahead of key int'l vote.
  • Job losses in US probably deepened in February as snow forced shutdowns.
  • Oil rises to near $81 in Asia as crude follows stocks higher ahead of key US jobs data.
  • Unemployment report, distorted by storms.
  • US 10-year yields are near lowest in three weeks before Payrolls report.
  • US Treasury Dept raises more than $1.5B from the sale of BoA warrants.
  • Wen warns of 'latent risk' in China's banks, pledges crackdown on property.
  • Abbott Laboratories is offering Innogenetics NV for sale, reports.
  • Africa's largest lender, Standard Bank's 2009 net fell 21% to $1.47B as bad debts rose.
  • Areva posted a 6% drop in 2009 net profit but said it expects significant growth in backlog.
  • Astellas needs to raise $3.5B OSI Pharma offer by 15%, owner OrbiMed says.
  • Cooper Cos misses by $0.03, posts Q1 EPS of $0.49. Revs improve 3.7% to $260.3M.
  • Del Monte Foods' Q3 net falls 1.8% to $59.4M on refinancing costs. Revs up 7.5%.
  • ICBC, Bank of China plan to slow lending this year from record set in 2009.
  • Marvell beats by $0.03, posts Q4 EPS of $0.40. Revs jumps 64.3% to $843M.
  • Orbital to acquire General Dynamics' satellite development and manufacturing business.
  • Titan Intl stockholders approve increase in authorized shares from 60M to 120M shares.
  • Toyota fix questioned by US as 60 owners complain after recall repairs.
  • Toyota started a zero-percent financing program this month to lure buyers in China.

Economic Calendar: Data on Unemployment Rate, Nonfarm Payrolls, Consumer Credit.

Earnings Calendar: AYR, CACB, CBY, CCRT, NASB, NOVB, NWPX, SBP, SMP, TEAM, TPGI, VE, WPPGY.

RECENT RATING ACTIONS
PHILLIPS-VAN HEUSEN CORP (PVH)
BAXTER INTERNATIONAL INC (BAX)
LUBRIZOL CORP (LZ)
DOMINO'S PIZZA INC (DPZ)
AK STEEL HOLDING CORP (AKS)
NEWMARKET CORP (NEU)
CONAGRA FOODS INC (CAG)
SOUTHWEST GAS CORP (SWX)
WALT DISNEY CO/THE (DIS)
SOUTHERN UNION CO (SUG)
SCIENTIFIC GAMES CORP (SGMS)
ETHAN ALLEN INTERIORS INC (ETH)

Data provided by Egan-Jones Ratings and Analytics

 

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Fri, 03/05/2010 - 10:09 | 254696 deadhead
deadhead's picture

Something is seriously wrong.  Yesterday SunRoberts downgraded COF.  Today, GS downgraded COF.

 

I cannot believe Bernanke allowed this to happen. Banks are only supposed to upgrade each other and reiterate same every few weeks.  I think Frank's commitee, ala the arm twisting on FASB 157 from early 09, should threaten to pass a law outlawing downgrades of US financial institutions.

Fri, 03/05/2010 - 11:20 | 254784 Anonymous
Anonymous's picture

Where's Marla?

Fri, 04/16/2010 - 08:50 | 303681 mark456
mark456's picture

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