Daily Highlights: 4.13.10

Tyler Durden's picture
  • Asia stocks, metals decline as Alcoa sales miss estimates; Yen strengthens.
  • China may float Yuan by June 30, avoid one-off revaluation, Bloomberg survey.
  • China's biggest banks face $70B capital shortfall, ICBC's Yang says.
  • Global IT spending expected to rise 5.3% in 2010 - Gartner.
  • Hu says China to follow own path on Yuan as Obama pushes for 'market' rate.
  • Profits for big banks dimmed by home-equity loan loss seen at $30B
  • World oil demand to hit record high this year
  • Yen strengthens on speculation demand at Greece's debt auction to be weak.
  • Alcoa's Q1 misses est., revs up 18% at $4.89B (cons $5.23B); posts a loss of $201M.
  • Ambac Fincl posts Q4 net of $558.1M, reflecting a tax benefit & unrealized derivative gains.
  • Apache Corp to buy Devon Energy assets in Gulf of Mexico for $1.05B.
  • Boots & Coots to be bought by Halliburton Co. for about $240.4M in stock and cash.
  • California Pizza Kitchen is reviewing options including a possible sale.
  • ConocoPhillips to form U.A.E. alliance to bid for Caspian Oil gas fields
  • CF Industries sees Q1 sales below cons expectations on a 6% drop in volume.
  • CVS to double number of in-store clinics after Health-Care Law
  • Dollar General files for 22M share common stock offering.
  • DSG gains on speculation TV and Computer chain may be target for Home Retail
  • DynCorp Intl agreed to be acquired by Cerberus Capital for about $1.5B, incl. debt.
  • Fujifilm forecasts 10% growth at medical unit on emerging-market demand
  • Harrah's debt soars to highest level since buyout as gambling slump eases
  • Infineon Q2 seen better than expected, will up FY guidance.
  • LVMH shares surge to highest in 10 years on Louis Vuitton and champagne cales
  • Macarthur: Arcelor undecided on Gloucester deal.
  • Maxim Integrated to acquire privately held Teridian Semiconductor Corp. for $315M cash.
  • Popular Inc sees Q1 net loss of $85M, narrowing from Q4 loss of $213.2M.
  • Sinopec agrees to buy ConocoPhillips's stake in Syncrude for $4.65B.

Economic Calendar: Data on Export-Import Prices, Trade Balance to be released today.

Earnings Calendar: BDCO, CSX, FAST, HCSG, INTC, LLTC, OKSB, PACW, TLB, WABC.

RECENT RATING ACTIONS

STEINWAY MUSICAL INSTRUMENTS (LVB)
CABLEVISION SYSTEMS CORP (CVC)
MIRANT CORP (MIR)
RRI ENERGY INC (RRI)
CONSTELLATION BRANDS INC (STZ)
BROWN SHOE CO INC (BWS)
WYNN RESORTS LTD (WYNN)
TJX COS INC (TJX)
DILLARD'S INC (DDS)
AMBAC FINANCIAL GROUP INC (ABK)
MCKESSON CORP (MCK)
GENWORTH FINANCIAL INC (GNW)

Data provided by Egan-Jones Ratings and Analytics