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Daily Highlights: 6.11.10
- China May retail sales surge 18.7% from year-ago.
- China's consumer inflation breaches 3% level- govt's annual target.
- 'Circuit Breaker' set; rules to ease stock volatility on S&P 500 to begin today.
- ECB plans new loans, raises 2010 f'cast.
- Euro climbs to $1.2103 after ECB expanded efforts to make credit available.
- Geithner says China yuan policy is 'impediment' to global economic growth.
- Loans in Fed Reserve program aimed at easing European crisis fall to $1.24 billion.
- Stocks rise in Europe, Asia on economic recovery signs; bond risk declines.
- US economy strengthened in all of the central bank’s regions in April and May for the first time in more than two years,
- while growth in many districts was subdued. -Fed
- U.S. trade deficit widened in April - steps up pressure on China to bridge this widening gap.
- Archipelago Learning buys EducationCity for $87M, cuts FY10 EPS view to $0.40-0.44.
- BHP may use iron-ore price slump to push for spot sales in Q3.
- BP considering deferring or reducing its Q2 dividend to help quell the political uproar.
- Brown-Forman's Q1 profit falls 8.7% amid higher costs; revs up 7.3% at $733M.
- Ciena loss narrows to $90M after year-earlier write-downs; revs up 76% to $253.5M.
- Del Monte Foods' net drops 11% to $63.7M; revs down 9.8% at $954M.
- Dell Inc. set aside $100M as part of a potential legal settlement with U.S. regulators.
- Finisar swings to Q4 profit of $14.2M as revs jumped 75% to $188.5M, margins expanded.
- Fujitsu and Toshiba are in talks to merge their mobile phone businesses.
- India's Reliance said to consider buying stake in Pioneer Natural shale-gas asset.
- McDonald’s plans to open 100 more restaurants in South Africa and 120 in India over the next five years.
- Medicare patients who took GlaxoSmithKline's Avandia may have suffered as many as 48,000 heart attacks: FDA scientist.
- Navistar posts surprise profit of $30M as margins widen, tax recovery in Brazil.
- Thor Industries' Q3 profit jumped from year-ago's $2.1M to $34.1M as revs rose 64%.
- Toys 'R' Us' Q1 loss widened to $55M on higher interest expenses. Revs up 5.3%.
- TPG buying software firm Vertafore for $1.4B.
- UK speaks out in defense of BP amid heightened criticism from US.
Economic Calendar: Data on Retail Sales, Mich Sentiment, Business Inventories to be released.
Earnings Calendar: AOI, CARV, GMTC, NATH.
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Dumb question, perhaps, but why is Citigroup always one of the highest volume stocks out there? Is it just the sheer volume of shares available? The low nominal share price/law of small numbers?
Geithner is an idiot. Sorry, that's unfair to idiots, he's a fool.
DavidC
Geitner at the US' favourite game: laying blame onto others.
No, Mr. Geitner. The one country which rammed the world is the US. No other.
That oil spill is leaking very toxic stuff out of the ground. You better wake up and do some homework.