Daily Highlights: 5.14.2010

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  • Foreign investment in China up 25% in April amid growing interest in rebounding economy.
  • Euro breaks 14-month low as debt-cutting steps may hurt growth.
  • Hong Kong economy expands 2.4 percent in 1Q, fourth straight quarter of growth.
  • India inflation eases to 9.6 percent in April, but food and fuel costs remain troublesome.
  • Oil prices fell below $74/bbl amid expectations a slower economic recovery in Europe.
  • Sales at U.S. retailers probably rose in April for a seventh straight month: Survey.
  • Senate voted for a provision that would thrust govt into the process of determining who rates complex bond.
  • Spain's core inflation rate drops for first time since 1986 amid job cuts.
  • Stocks decline in Europe, Asia on growth concern; US index futures drop.
  • Volcker says Euro's disintegration is potential consequence of debt crisis.
  • Blockbuster posts Q1 loss of $65.4M as revenues declined 13% to $939.4M.
  • BP wasn't prepared for leak, CEO says.
  • CA Inc. reported a 55% jump in Q4 profit at $101M as revs rose 6.6% to $1.1B.
  • Con-way prices 4.3 mln common shares at $35.00/sh.
  • EADS's net profit fell 39% to €103M on deteriorating currency hedge positions.
  • Healthscope gets $1.6B buyout offer from PE group; shares surge most in a decade.
  • Kohl's Q1 earnings rose a better-than-expected 45% to $199M, led by 11% rise in revs.
  • Mizuho Financial swings to Q4 profit, plans $8.6B rights issue to bolster capital.
  • Nordstrom raised its fiscal 2010 earnings forecast after reporting Q1 profit rose 44%.
  • NTT swings back to profit of $789.6M, cancels shares.
  • Nvidia swings to Q1 profit of $137.6M. Revs up 51% to $1B helped by corporate spending.
  • Posco was named preferred bidder for a controlling stake in Daewoo International.
  • Shinsei Bank, Aozora Bank said they have scrapped their merger agreement.
  • TPG raised $1.25B from selling just over half of its 4% stake in Ping An Insurance.
  • Transocean asks Court to cap Gulf Rig disaster liability at $26.7M.
  • Urban Outfitters' Q1 net surged 72% to $53M as margins widened to 42% from 37%.
  • Wendy's/Arby's Group's Q1 loss narrowed to $3.4M. Revs declined 3.1% to $837.4M.

Economic Calendar: Data on Retail Sales, Capacity Utilization, Business Inventories to be released.

Earnings Calendar: IG, JCP, KINS, NASB, SPNS, TLX, VARI, VOXX, VSAT.

RECENT RATING ACTIONS
HUNTSMAN CORP (HUN)
PROCTER & GAMBLE CO/THE (PG)
UNITED STATES STEEL CORP (X)
WENDY'S/ARBY'S GROUP INC (WEN)
SIRIUS XM RADIO INC (SIRI)
NOKIA OYJ (NOK1V FH)
APARTMENT INVESTMENT (AIV)
ASHLAND INC (ASH)
STATE STREET CORP (STT)
FIDELITY NATIONAL INFORMATION (FIS)
WALT DISNEY CO/THE (DIS)
SOUTHERN UNION CO (SUG)

Data provided by Egan-Jones Ratings and Analytics