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Daily Highlights: 3.9.10

Tyler Durden's picture





 
  • Bank of England sees 'grounds for optimism' on Britain's recovery as risks diminish.
  • China's interest-rate gap driving pressure for Yuan gains, regulator says.
  • German industrial output rises 0.6% in Jan , despite 14.3% fall in construction activity.
  • Gold is “unlikely” to be China’s primary investment to diversify its reserve hldgs: regulator.
  • Taiwan's February exports rose 32.6%, suggesting strong economic growth.
  • Yen strengthens as exporters bring home profits; most Asian stocks slide.
  • Legislation extending unemployment insurance for the long-term jobless faces a key test vote in the Senate.
  • UK retail sales rise 2.2% in February, reversing fall in January.
  • Audi 2009 net income fell 39 percent to euro1.35 billion.
  • Casey's General Stores' Q3 net surged 23% to $17.2M as revs grew 31% to $1.11B.
  • Daimler to raise as much as $428M through selling its stake in India's Tata Motors.
  • General Growth Properties says its biggest debt, equity holders to jointly invest $3.93B in it.
  • Harrah's lenders amend terms, incl having an option of extending the due date to 2015.
  • HP sued several Taiwanese, HK manufacturers for infringing on its printer cartridge patents.
  • McDonald's Feb same-store sales rises 4.8%, led by strong overseas gains.
  • Northrop Grumman drops out of a controversial $40B USAF refuelling tankers project.
  • OSI's price tag is likely to rise as Astellas Pharma covets cancer revenue.
  • PartnerRe estimated claims of $220-320M pretax from last month's earthquake in Chile.
  • RBS has the largest pension deficit relative to its market value out of U.K. finance firms in the FTSE 350 index – report
  • Res-Care reports in-line, reports Q4 EPS of $0.25. Revs fell 2.0% to $387.2M.
  • Sony Corp aims to sell at least 25M TVs next fiscal year, 10% of them 3-D.
  • Sony aims to sell at least 25 million televisions in the 12 months ending March
  • Texas Instruments raises lower end of Q1 EPS to $0.48-0.52 - prev $0.44-0.52 (cons $0.49).
  • Thor Industries misses by $0.06, posts Q2 EPS of $0.22. Revs rose 89.7% to $430M.
  • TiVo Inc.'s Q4 loss widened to $10.2M on higher costs, beats est. Revs up 16% to $68.5M.
  • Class-action lawsuits could cost Toyota $3B-plus.
  • Verizon CFO sees 2010 capex of $16.8B-17.2B.

Earnings Calendar: ALOG, BNS, BRNC, CALP, DKS, FLOW, JCG, KFY, KR, RCNI, SSI, VICR.

RECENT RATING ACTIONS

METROPCS COMMUNICATIONS INC (PCS)
WENDY'S/ARBY'S GROUP INC (WEN)
IMAX CORP (IMAX)
EW SCRIPPS CO (SSP)
YRC WORLDWIDE INC (YRCW)
PHH CORP (PHH)
TD AMERITRADE HOLDING CORP (AMTD)
DISH NETWORK CORP (DISH)
CENVEO INC (CVO)
TRANSOCEAN LTD (RIG)
DENBURY RESOURCES INC (DNR)
SCOTTS MIRACLE-GRO CO/THE (SMG)

Data provided by Egan-Jones Ratings and Analytics

 


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Tue, 03/09/2010 - 10:09 | Link to Comment SDRII
SDRII's picture

Gata challenges; China swears off gold and reiterates Treasury bond commitment; Stocks sell off; US set to auction longer maturities...

so should we assume doesn't have to buy gold as the US is giving it to them?

Tue, 03/09/2010 - 10:27 | Link to Comment monmick
monmick's picture

Gold is “unlikely” to be China’s primary investment to diversify its reserve hldgs: regulator.

Stating the obvious. I don't think gold could play that role, even if the Chinese wanted to...

Tue, 03/09/2010 - 12:00 | Link to Comment Anonymous
Tue, 03/09/2010 - 12:19 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It will be interesting to see if China was told to say what they said (about gold), so as to be sold the gold, or maybe someone told them the gold is going elsewhere and China reacted like a rejected school girl.  "I didn't want to date you anyway!  Hmmph."

China, we all know you need that gold.  I mean what, you are going to unpeg without diversifying into the common currentsea that the oligarchs use?  Does anybody really think a billion dolla oligarch has ever used cash?  Do you think David Rockefeller carries paper?

Tue, 03/09/2010 - 12:40 | Link to Comment Anonymous
Tue, 03/09/2010 - 12:50 | Link to Comment perchprism
perchprism's picture

 

Last night I bought more gold, and 20 more Silver Eagles.  I wish I could buy more gold than I did, but just can't afford it.  Probably have enough to squeak by in a pinch, relying more on silver than gold to get me what I'll want if things go to hell in a handbasket.  Have my eye on some primo farmland across the road. 

 

 

Thu, 04/15/2010 - 10:24 | Link to Comment mark456
mark456's picture

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