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Daily Highlights: 4.28.10

Tyler Durden's picture




 
  • Asian shares were sharply lower on Wednesday, as renewed concerns over Greece.
  • BOJ Board said to increase resistance to more stimulus as economy recovers.
  • Concerns over Greece and a stronger yen hurt Japanese exporters, Nikkei fell 2.8%.
  • Fed likely to sound confident note on recovery, signs grow economy is strengthening.
  • German Chancellor Merkel to meet head of European Central Bank, IMF amid Greek debt crisis.
  • Greek collateral concerns trigger surge in bank swaps.
  • Stocks fall, Asia default swaps climb on Greece, Portugal debt.
  • Apple buys Intrinsity Inc., the start-up behind the iPad's chip, for $121M.
  • Bank of China reported a bigger-than-expected 41% rise in its Q1 net profit, at $3.8B.
  • CIT swings to Q1 profit of $97.3M on lower credit-loss provisions.
  • Continental posts 1st quarter pretax profit of $656.5 million.
  • FDA warns Teva Pharmaceutical on manufacturing violations.
  • Ford, fuelled by rising US sales, reported a better-than-expected $2.1B profit for Q1.
  • Honda posts quarterly profit to $774M on recovery and Asia growth, reversing from losses a year earlier.
  • Las Vegas Sands: Planned sale of its Macau malls, apartments may raise as much as $12B.
  • Lloyds Banking notched a pretax profit in Q1, reiterates 2010 view.
  • Manitowoc's Q1 loss--its sixth in a row--narrowed to $23.2M on higher margins.
  • McGraw-Hill Cos.' Q1 net rises 64% as higher-education and debt-ratings units boost revs.
  • Merck KGaA sees Q1 net profit jump higher to $254 million on demand for liquid crystals.
  • Norfolk Southern's Q1 net up 45% to $257M as revs rise 15% to $2.24B, volumes up 9%.
  • PetroChina Co.'s Q1 net jumps 71% to $4.76B on higher oil prices. Revs up 75%.
  • Shell reports profit up 57 percent in Q1 to $5.48 billion and oil production rise.
  • Smith Int'l quarterly net off 88%, revenue off 11%.
  • Sprint's March loss increased from $594M to $865M.
  • UAL Corp. narrowed its Q1 loss to $82M amid cost discipline and 15% rise in revenue.
  • US Steel Corp., beats est., narrows Q1 loss to $157M. Revs up 42% at $3.9B.
  • Walmart exploring opening small outposts to penetrate US cities.

Economic Calendar: Data on Crude Inventories, FOMC Rate Decision to be released today.

Earnings Calendar: ABD, ABX, ACE, ALL, AOL, ATI, BEN, CACI, CLF, COG, DCM, DOW, EEP, ESRX, FDML, GSK, GT, IACI, IVZ, JNY, MHS, NOC, RA, S, SAP, WLP.

RECENT RATING ACTIONS
PEABODY ENERGY CORP (BTU)
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INTERNATIONAL GAME TECHNOLOGY (IGT)
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NEW YORK TIMES CO/THE (NYT)

Data provided by Egan-Jones Ratings and Analytics

 

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Wed, 04/28/2010 - 08:26 | 321416 etrader
etrader's picture

Don't mention the  deficit in the UK ..... bigots..... :-)

http://www.guardian.co.uk/politics/2010/apr/28/gordon-brown-bigoted-woman

Wed, 04/28/2010 - 08:32 | 321425 docj
docj's picture

Fed likely to sound confident note on recovery, signs grow economy is strengthening.

$4T of Monopoly Money and 18-months of ZIRP later (with no end for either in view anywhere) and this is what "recovery" looks like?

Color me unimpressed.  Don't most if not all death-bound patients make at least one rally (usually medically assisted) before finally giving up the spirit?

Wed, 04/28/2010 - 09:19 | 321474 glenlloyd
glenlloyd's picture

+1

Wed, 04/28/2010 - 09:26 | 321484 rubearish10
rubearish10's picture

One day wonder (yesterday) appears again. BensDay, should have known. Lift up the sheets and take a whiff Ben, your farts "do" stink!

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