Daily Highlights: 5.21.10
- Asian shares were down Friday, but many markets were off their lows by closing.
- China’s stocks fell to its worst week in 15 months, on the nation’s policy tightening.
- Crude oil is poised for a third weekly decline on European debt crisis
- FDIC said US banking industry continued to face challenges in Q1 2010.
- Germany's gross domestic product rose 0.2% in the first quarter of the year.
- Japan's central bank keeps rates steady and upgrades its economic outlook.
- US Senate approves Wall Street Financial Overhaul Bill after 59-39 vote.
- Yen weakens versus Dollar, Euro, paring weekly gains.
- Abbott to buy Piramal unit for $3.7B, becoming top Indian drugmaker
- Aeropostale's Q1 profits jumped 43% to $45.4M on higher sales, margins.
- Amgen cancer-drug research offers first proof of Biotech's new direction
- Bank of Japan to provide loans to banks to spur lending and defeat deflation
- Brocade reports Q2 EPS of $0.13, excl. non-recurring items. Revs fell 1% to $501M.
- Buckle Inc.'s Q1 profit rose 12% to $30.1M as sales increased 7.6% to $214.8M.
- Children's Place Retail Stores ups 2010 EPS view to $3.05-3.15 (prev $2.90-3.10).
- China's Pension fund invests more than $2.2 billion in agricultural bank
- Dell's qtrly profit rose 52% to $441M as revs jumped 21% to $14.87B.
- Dollar Tree's Q1 earnings rose 5.3% despite inventory-related charges. Revs up 13%.
- Foot Locker beats by $0.06, reports Q1 EPS of $0.34. Revs rose 5.3% to $1.28B.
- Intuit sees 2010 EPS at $2.03-2.06 (prev $1.97-2.04); revs of $3.41-3.43B (prev $3.3-3.4B).
- Marvell beats by a cent, posts Q1 EPS of $0.38. Revenues rose 64.2% to $856M.
- RBS looking at a private sale of Priory Group after shelving its IPO plans.
- Staples Inc.'s Q1 earnings rose 32% to $188.8M on better-than-expected sales growth.
- Target's profit rises 29% on strong sales, improved credit-card operations.
- Telecom Vodafone Grp in talks to sell its 55% stake in Vodafone Egypt for around 3B pounds.
- Toyota will acquire a $50M stake in California electric-car maker Tesla Motors Inc.
- Visa had decided to deposit $500M into a litigation escrow account.
- Vodafone to be in talks to sell $4.3B stake in Egyptian unit
- Wells and LNR to seek sale of $2B in commercial loans and property
- Williams-Sonoma swings to Q1 profit on better sales. Ups 2010 EPS view to $1.39-1.48.
- Woolworths may sell bonds in Australia as $2.5B of debt matures
Earnings Calendar: ANN, FRO, GRO, HIBB, TECD, UVV, WNS.
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Data provided by Egan-Jones Ratings and Analytics
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