Daily Highlights: 5.24.10

• April sales of previously owned homes likely got a big boost from tax incentives.
• Asia stocks gain as China rises most in seven months on policy speculation.
• China presses US to end tech export controls.
• China shares up as fears of tighter policy ease amid hopes of rising yuan.
• Corn futures advances on speculation that China may boost imports from the U.S.
• Defaults on apartment-building mortgages held by US banks climbed to a record 4.6% in Q1.
• Dubai officials lay out need for financial reform following the credit crisis.
• Euro falls, ends 3-day gain, on concern debt crisis to spread.
• European debt crisis won't derail global recovery, Geithner to tell China.
• Fed's Dudley sees slow US recovery, signs of 'significant' labor growth.
• Pres Hu says China to move gradually, independently on Yuan changes.
• Recovery in US strengthens as consumer spending rebounds, economists say.
• US home buyers get surprise boost from Europe crisis as home loans rates drop below 5%.
• Ann Taylor swings to Q1 profit of $22.6M; revs up 12% at $476.2M.
• Aspen Pharmacare offers to acquire Sigma Pharmaceuticals for $1.24B.
• British Airways posted its second straight year of losses; expects to break even this year.
• Campbell's May net income declines from $174M last year to $168M this year.
• GM reached a labor deal considered critical to the restructuring of its ailing Opel unit in Europe.
• Goldman Sachs, SEC aren't close to reaching a settlement to end the fraud lawsuit against the co.
• Harris to acquire CapRock Communications for $525M in cash.
• Hibbett Sports' Q1 profit jumps 59% as sales, margins grow.
• Johnson Controls offers $1.25B for auto interiors and electronics business at Visteon.
• L-3 Comm initiates full redemption for its $400M 6 1/8% sr. subordinated notes due 2014, 2013.
• Lexmark to acquire Perceptive Software in a cash transaction valued at ~$280M.
• Nokia Siemens Networks aims for an operating profit margin between 3.1-3.4B euros for the current quarter.
• PepsiCo plans to invest $2.5B in China over the next three years, on top of $1B invested since 2008.
• Spain's central bank moved to take over Church-controlled savings bank Cajasur.
• StatoilHydro to sell its 40% share on the Peregrinio field to Sinochem for $3.07B.
• Telecom NZ considering spinning off its network company Chorus.

Economic Calendar: Data on Existing Home Sales to be released today.

Earnings Calendar: ATAI, CPB, DCI, GES, PVH.

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Comments

[bigdumbnugly]

You seem to have overlooked any mention about the last episode of LOST here.

you will not be attracting many mainstreamers this way Tyler...

[snowball777]

I've never seen an episode; that Philo T. fad will rot your brain, son.

[seventree]

Trying to make sense of the "real" world today will totally warp your mind, but I keep reading ZH anyway.

However the missus and I have followed Lost week to week since it started. The story's internal logic is flawed but in its own bizarre way rewards intellectual analysis and helps keep my higher brain functions from just giving up. Yes, I still know which universe is real but I don't have to like it.

@bigdumb: no spoilers please. We are waiting for tonight to play the Hulu version. (With no cable, satellite, or available OTA reception what TV we get is entirely from IP streaming.)

[bigdumbnugly]

no worries seven, wouldn't spoil it on you even if I watched it...  enjoy!