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Daily Highlights: 6.18.10

Tyler Durden's picture




 
  • Afghan president Karzai welcomes Japan investment in minerals.
  • Asian stocks mixed, but losses limited as worries over Europe's debt crisis ease.
  • Asia emerging-market stocks, currencies rise on growth; Gold near record.
  • China shares fall as pricing worries for Agricultural Bank IPO linger.
  • EU stress tests face questions over toughness of terms, Government backing.
  • Japan aims to cut company tax toward 25% in strategy to stoke growth.
  • Russia, in need of 'investment boom,' to scrap capital gains tax on foreign investment.
  • U.S. consumer prices fell 0.2% last month, despite higher commodity prices.
  • World Bank report says China's economy shows signs of softening, though still strong.
  • Adolor: 2 osteoarthritis drugs being developed with Pfizer are not effective than a placebo.
  • Aiful, Japanese consumer lenders face industry shakeout as law caps rates.
  • Banco Santander offers to buy 300 Royal Bank of Scotland branches across Britain.
  • Banner Corp announces commencement of $150M public offering of common stock.
  • BP’s $20B fund may not stop spill lawsuits, Judge says.
  • BSkyB investors vow fight to boost Murdoch's bid to at least 800p a share.
  • Campbell is recalling 15 million pounds of SpaghettiOs due to possible underprocessing.
  • CVS and Walgreen settle major differences.
  • HSBC Holdings sells $3.4B of perpetual securities with a coupon of 8 percent.
  • JM Smucker's earnings rose 28% on fewer restructuring charges; revs up 4%.
  • Kroger reports 14% drop in qtrly earnings on lower margins; revs up 8.7% at $24.76B.
  • Motorola's Board to pump bulk of cash reserves into cellphone business after spinoff.
  • Nestle completes 25 billion francs share buyback, confirms new 10 billion francs Program.
  • Pier 1 Imports posted a surprise profit of $7.7M on better inventory mgmt.
  • Smithfield wants "in or out" of turkey processor Butterball; cites poor performance.
  • US sues Oracle over pricing; may have overcharged govt by tens of millions of dollars.
  • Winnebago swung to a quarterly profit as shipments more than doubled to $134.8M.
  • Volkswagen ups 2010 outlook as first 5 months sales exceed company's expectations.

Earnings Calendar: ALOY, ABCW, CARV, GMTC, VOL.

RECENT RATING ACTIONS

NUCOR CORP (NUE)
CONSOLIDATED EDISON INC (ED)
WASHINGTON POST CO/THE (WPO)
CHIQUITA BRANDS INTERNATIONAL (CQB)
ANIXTER INTERNATIONAL INC (AXE)
FEDEX CORP (FDX)
INGRAM MICRO INC (IM)
SOUTHWESTERN ENERGY CO (SWN)
SUNOCO INC (SUN)
MOSAIC CO/THE (MOS)
OVERSEAS SHIPHOLDING (OSG)
BP PLC (BP/ LN)

Data provided by Egan-Jones Ratings and Analytics

 

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