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.
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Data provided by Egan-Jones Ratings and Analytics