Daily Highlights: 5.20.2010

Tyler Durden's picture
  • Asian stocks fall for fifth day on Europe concern; Commodity shares gain.
  • British government plans to partially privatize struggling Royal Mail.
  • China officials say won't yield to yuan pressure at U. S. talks.
  • China's growth unexpectedly accelerated in the first quarter of 2010: Poll.
  • Euro falls to lowest since April 2006 on European debt crisis.
  • Fed officials are in no rush to sell mortgage assets, Meeting minutes show.
  • Indian telecom outlook uncertain after 3G auction.
  • Japan growth quickens on exports, fails to end deflation as Kan pushes BOJ.
  • Taiwan's economy expanded most in 30 years on.
  • U. K. April retail sales increase for a third month.
  • US inflation slid last month to its lowest level in 44 years, highlighting a potentially troublesome unevenness in the global recovery.
  • Alpha Natural Resources Board authorizes $125M share repurchase.
  • AMR expects at least $500M in cost, revenue benefits by 2012 from an array of alliance and network changes.
  • Applied Materials swings to Q2 profit of $264M as revs jumped to $2.3B from $1.02B.
  • BJ's Wholesale said earnings rose 7.4% on increased sales and membership fees.
  • Chico's FAS reports EPS; posts Q1 EPS of $0.20. Revs rose 17.3% to $481.6M.
  • Deere raised 2010 profit outlook to $1.6B (prev $1.3B) after reporting a 16% rise in qtrly profit,
  • Dubai World, creditors reach $23.5B debt deal.
  • Eaton Vance Q2 earnings rose 40% to $36M. Revs up 38% at $273M.
  • Honeywell International Inc. said it plans to acquire Sperian Protection SA for $1.4B.
  • Hormel's earnings fell 3.1% on restructuring and health-charge charges.
  • Limited Brands beats by $0.06, posts Q1 EPS of $0.25. Revs rose 12.0% to $1.93B.
  • National Grid plans $4.6B rights offer; shares slide.
  • Nexen sells Canadian heavy oil properties for C$975M.
  • Novartis to pay $250M in bias case.
  • Petrobras may delay $25B share sale if global market slump worsens.
  • Repsol YPF SA expects to raise around $3B by selling 20% stake in its Argentine unit YPF SA.
  • SABMiller profit misses estimates on Asia, Europe.
  • Sears' net income falls to $16M on higher costs; appliance rebates help spur sales.

Economic Calendar: Data on Initial Claims, Leading Indicators & Philadelphia Fed to be released.

RECENT RATING ACTIONS
E*TRADE FINANCIAL CORP (ETFC)
OCCIDENTAL PETROLEUM CORP (OXY)
AMERICAN AXLE & MANUFACTURING (AXL)
AMERICAN GREETINGS CORP (AM)
GREAT ATLANTIC & PACIFIC (GAP)
OVERSEAS SHIPHOLDING (OSG)
ANADARKO PETROLEUM CORP (APC)
CAPITAL ONE FINANCIAL CORP (COF)
SHERWIN-WILLIAMS CO/THE (SHW)
DENBURY RESOURCES INC (DNR)
VALSPAR CORP (VAL)
SUNCOR ENERGY INC (SU CN)

Data provided by Egan-Jones Ratings and Analytics