Daily Highlights: 6.17.10

• Asian shares were solidly higher Wednesday after Wall Street rallied Tuesday.
• China boosts holdings of US Treasury debt by $5 billion.
• Euro zone May inflation confirmed at 1.6 pct y/y.
• France may raise retirement age from 60 to 62 in 2018.
• Obama says oil spill shows US must cut oil 'addiction’.
• OECD recommends Dutch workers stay on the job longer, accept less when they retire.
• Russia preparing to buy Canadian, Australian dollars to diversify reserves.
• Yen trades near 1-week low on improving global economic outlook.
• Best Buy Co.'s Q1 profit rose a disappointing 1.3% to $155M despite 6.9% rise in revs.
• Brazilian meatpacker Marfrig to acquire distributor Keystone Foods for $1.26B.
• BSkyB rebuffs News Corp. takeover offer, seeking higher price.
• Casey's General Stores' qtrly profit surged 41% despite legal fees. Revs up 34%.
• Clarcor Inc.'s Q2 profit jumped 42% on better-than-expected 12% sales growth.
• Hyundai Heavy Industries won a $1.6 billion order from Dhuruma Electricity Co. to
  build a power plant in Saudi Arabia.
• Illinois Tool Works' revs for the quarter ended May 2010 rises 21%; ups Q2 f'cast.
• J&J expands January recall to add Benadryl, Tylenol lots that were “inadvertently omitted from the initial recall.”
• La-Z-Boy's cautious view overshadows Q4 profit rise from year-ago's $5.2M to $13.7M.
• Maxis may raise $1.4B to pay debt, upgrade broadband network.
• Nestlé sues Sara Lee, says coffee capsules sold by latter violate patents on Nespresso.
• Philip Morris to appeal Colombian regulator's decision to deny its $425M bid to acquire Productora Tabacalera de Colombia.
• Rio Tinto said it will invest $469M in a nickel and copper mine in Michigan.
• Rising labor costs in China forcing US apparel retailers to seek cheaper sources.
• Shell has restored output at its Forcados crude export terminal in Nigeria.
• Stewart Enterprises, Funeral Consumers Alliance, enter agreement to end lawsuit.
• Tesla Motors schedules its IPO on June 29, hopes to raise $178M.

Economic Calendar: Data on Housing Starts, Building Permits, Capacity Utilization, IndustrialProdn & Crude Inventories to be released.

Earnings Calendar: ABCW, CFI, FDX, GMTC, IHS.

RECENT RATING ACTIONS
PRECISION CASTPARTS CORP (PCP)
PRAXAIR INC (PX)
WISCONSIN ENERGY CORP (WEC)
AIR PRODUCTS & CHEMICALS (APD)
AIRGAS INC (ARG)
LAS VEGAS SANDS CORP (LVS)
LINCOLN NATIONAL CORP (LNC)
APACHE CORP (APA)
HEXCEL CORP (HXL)
GOODRICH PETROLEUM CORP (GDP)
ATMOS ENERGY CORP (ATO)
HELIX ENERGY SOLUTIONS (HLX)

Data provided by Egan-Jones Ratings and Analytics

Comments

[Sudden Debt]

let's not forget that the Dutch have a retirement package of +-2400€ a month without their private retirement packages.

So less?

[kaiten]

And where´s the world cup update of yesterday´s matches? ;)

[Bankster T Cubed]

the commissars want stocks up

then stocks will go up

no matter what

sometimes they want stocks down, you know

part of mind control ops from ministry of truth

[papaswamp]

Wow the unemployment numbers are ugly....market goes up on bad news doesn't it?

[PeaBird]

this is exactly an identical post to the 'daily highlights' from yesterday, 16th June 2010. See link:

http://www.zerohedge.com/article/daily-highlights-61610

Was this post an editing error?