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Daily Highlights: 5.28.10
- Asia stocks rise for a third day after US shares rally; Euro declines.
- China's foreign-exchange regulator denied it is reviewing its holdings of euro-zone debt.
- European banks are increasingly hoarding cash while borrowing far less.
- Greece may yet have to restructure its debt, despite assurances to the contrary from EU, IMF.
- Japanese prices decline, unemployment rises in signs recovery is slowing.
- Workers protested French govt plans to raise the retirement age past 60 years old.
- BP puts total cost to date at $930M; 'top kill' may take another 24 to 48 hours.
- Costco's Q1 net rises 50% to $306M; revs increased 12.3% to $17.78B.
- CVS charged Medicare customers more than promised; blame on software glitch.
- Daimler, BYD set up a 50-50 JV to develop an all-electric vehicle for the Chinese market.
- Guess' Q1 net income rose 55% to $50.3M; Sales rose 22% to $539.3M.
- HJ Heinz's Q4 earnings rose 9.9%; sees growing opportunities in emerging markets.
- Hon Hai may lift China wages 20% after spate of suicides at Apple supplier.
- Nissan and Ford will offer $500 rebates on several car and truck models over the U.S. holiday weekend.
- Ipad makes foreign debut; drawing lines of eager consumers outside stores.
- J. Crew's Q1 profit doubled to $44.7M on stronger full-price selling. Revs up 20% at $413.9M.
- KKR, Bain Capital hire Goldman Sachs for a $1B IPO of Toys R Us Inc.
- Lenovo swung to Q4 profit of $13M on cost control. Revs up 56% at $4.32B.
- Prudential PLC in talks with AIG to cut $35.5B price tag on AIG's main Asian unit.
- SABMiller is looking into making a bid of about $10.2B for Australian rival Foster's.
- Shell to buy business of East Resources for $4.7B.
- Standard Chartered's $500M India offer 84% unsold with one day left.
- Tiffany & Co.'s Q1 earnings more than doubled as demand rebound across most of its mkts.
- Travis Perkins in advanced talks to buy BSS Group; indicative price GBP553M.
- UAW expects to claw back some of the concessions it gave to the three Detroit auto makers.
Economic Calendar: Data on Continuing & Initial Claims to be released today.
Earnings Calendar: BGP, BH, BIG, COST, DLIA, DMND, GCO, GRO, HNZ, NOVL, RSC, TIF.
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Data provided by Egan-Jones Ratings and Analytics
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I like this one :)
http://edition.cnn.com/2010/US/05/28/gulf.oil.spill/?hpt=T1
"You know, when I woke up this morning and I'm shaving, and Malia knocks on my bathroom door and she peeks in her head and she says, 'Did you plug the hole yet, Daddy?'" he said.
Well, that depends, what did mom say?
And Libor dropped.
As the Yuro goes so goes the S&P. Bye.
Would be nice if we were able to start shorting Toys R Us before they go public.
"UAW expects to claw back some of the concessions it gave to the three Detroit auto makers."
- Un freakin believable !!! Anything that wants to claw someone should be shot.