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Daily Highlights: 5.17.10

Tyler Durden's picture




 
  • Asian stocks fall as weaker Euro fuels economic growth concern.
  • China's growth passes peak and more tightening feared
  • Crude-oil prices continued to slide toward the psychologically important $70/bbl on Monday.
  • Euro falls to lowest since April 2006 on European debt crisis.
  • Japan Machine Orders rise for first time in 3 months in March.
  • Stocks slip on austerity fears.
  • New Home construction in US probably rose as tax credit boosted sales: Survey.
  • AIG said to be lead insurer of Goldman Sachs board against investor suits.
  • Astellas Pharma to buy OSI Pharmaceuticals Inc. for $4B cash, raising its original offer by 11%.
  • Bain Capital sweetened bid today for Psychiatric Solns, topping UHS' $33.50/sh offer.
  • BHP faces SEC probe after finding possible corruption at mining projects.
  • Blockbuster to divest international assets, improve credit terms to recapitalize the company.
  • BP PLC's growing oil spill in the Gulf of Mexico is expected to cost insurers up to $3.5B.
  • CSX Corp. said it earned $0.78/sh in Q1, beating consensus est. of $0.70/sh.
  • Elpida Memory Inc. reported its first annual profit in 3 years, as revs more than tripled to 146.6B yen.
  • Goldman Sachs says SEC's fraud case hinges on actions of single employee.
  • Google said to be in talks to buy travel software maker ITA for $1B.
  • Intel's Q2 revenue f'cast beats cons. view; posts Q1 EPS of $0.43 vs. cons est. of $0.38.
  • JC Penney's Q1 net rises to $60M from year-ago's $25M as gross sales rose 1.2% to $3.93B.
  • Lowe's Sept. net income rose from $476M to $489M.
  • Prudential starts record offering to fund takeover
  • Rusal swings to Q1 profit of $247M as revs rose 31% to $2.33B, boosted by stronger prices.
  • Sinochem withdraws from a consortium to develop the 2.5B-barrel Missan oil field complex in Iraq.
  • Samsung unveils record US$15.60B capital spending plan
  • Tupperware beats by $0.14, reports Q1 EPS of $0.76. Revs up 20.4% at $557.1M.
  • UHS to buy Psychiatric Solutions in $3.1B deal

Economic Calendar: Data on Net Long-Term TIC Flows to be released today.

Earnings Calendar: A, ABK, AXAS, BXG, CSS, DY, HAST, LOW, PFIN, VAL.

RECENT RATING ACTIONS
JC PENNEY CO INC (JCP)
SCOTTS MIRACLE-GRO CO/THE (SMG)
AMERICAN EXPRESS CO (AXP)
RF MICRO DEVICES INC (RFMD)
AMERICAN GREETINGS CORP (AM)
HUNTSMAN CORP (HUN)
ALBERTO-CULVER CO (ACV)
COLGATE-PALMOLIVE CO (CL)
KIMBERLY-CLARK CORP (KMB)
PROCTER & GAMBLE CO/THE (PG)
UNITED STATES STEEL CORP (X)
WENDY'S/ARBY'S GROUP INC (WEN)

Data provided by Egan-Jones Ratings and Analytics

 

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Mon, 05/17/2010 - 08:25 | 356062 jkruffin
jkruffin's picture

Just shorted the crap out of gbp/usd after the humungous bounce orchestrated overnight.  GBP heading to 1.35 soon.

Mon, 05/17/2010 - 08:27 | 356066 mephisto
mephisto's picture

How about this one:

"Foreign bank borrowing of dollars from their U.S. offices increased almost 50 percent to $353.3 billion in the three months ended May 5, according to Fed data tracked by Nomura Holdings Inc. The jump is the largest quarterly percentage rise since 2007."

from BBG

http://www.bloomberg.com/apps/news?pid=20601087&sid=a9Gwe054M6zM&pos=1

Mon, 05/17/2010 - 10:11 | 356185 PeaBird
PeaBird's picture

AIG said to be lead insurer of Goldman Sachs board against investor suits.

So...the US taxpayer via the US govt via AIG, will be the ones paying for any lawsuit losses by GS?

Sinochem withdraws from a consortium to develop the 2.5B-barrel Missan oil field complex in Iraq.

Hmmm... Interesting. I wonder why an energy hungry country, with a growing energy need, would go and do something like this?

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rubsgen12's picture

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