Daily Highlights: 6.1.09

• Attention is on health care legislation as Congress gets back to work.
• Britain's manufacturing sector contracts at its slowest pace in 12 months in May.
• Oil rises to seven-month high on China manufacturing expansion.
• Oil surges to new high for the year, climbing above $68 a barrel as Asian stock markets up.
• Quarter million jobs could be lost in GM bankruptcy.
• The South Korea won ends at its strongest level in more than seven months.
• World markets gain as China manufacturing growth piques recovery hopes; HK jumps 4%.
• Delphi wins extension of bankruptcy loan, talks with GM, Treasury proceed.
• Chrysler could exit bankruptcy reorganization as soon as this week.
• Chrysler wins court approval to sell assets to Fiat-led group.
• Elan in talks to sell stake to Bristol-Myers.
• Germany’s backing for a Russian- backed bid for GM’s Opel unit promises deeper ties between Moscow and Berlin.
• GM to file bankruptcy; US will take 60 percent ownership and attempt to reorganize carmaker.
• GM's UAW members approve contract amendments that may ease bankruptcy exit.
• Ingersoll sees little sales lift from US Tax credits.
• EU regulators are pursuing tough new sanctions against Microsoft, may force it to add rival browsers to Windows.
• German govt selected Magna Intl as a partner for GM's Opel unit.
• PL Corp. to sell its Long Island generation unit to J-Power for ~$135M + working capital.
• Tiffany's Q1 net down 62% to $24.3M as revs fell 22% to $523.1M.
• Toyota leads a 19 percent drop in the country’s vehicle sales last month.
• Weatherford agrees to Acquire TNK-BP Oil Field Services.
• Group of banks led by Wells Fargo opposes an offer to acquire Hartmarx Corp. for $119M.

Economic Calendar: Data on Personal Income-Spending, Construction Spending, ISM Index
to be released today.

Earnings Calendar: ALTR, AINV, ENS, GAIN, LGF, NAVR, ONAV, TUTR.

Companies to watch: Altera Corp, Delphi, Elan, Enersys, Lions Gate Ent, Navarre, Tiffany & Co.

Recent Egan Jones Rating Actions:
TIME WARNER INC (TWX)
CENVEO INC (CVO)
MAGNA INTERNATIONAL INC (MG/A CN)
SCHOLASTIC CORP (SCHL)
RH DONNELLEY CORP (RHDC)
RR DONNELLEY & SONS CO (RRD)
COSTCO WHOLESALE CORP (COST)
VISTEON CORP (VSTN)
AUTOZONE INC (AZO)
ARVINMERITOR INC (ARM)
ALLEGHENY TECHNOLOGIES INC (ATI)
KEYCORP (KEY)
STAPLES INC (SPLS)

Data provided by Egan Jones