This page has been archived and commenting is disabled.

Daily Highlights: 6.22.10

Tyler Durden's picture




 
  • Asian, European stocks fell for the first time in 9 days; Euro weakened against Yen.
  • German business confidence rises on increased export expectations.
  • US home sales likely to weaken with the end of the tax credits: Bloomberg
  • Japan targets balanced budget by 2020 to contain debt.
  • Oil declines as optimism fades over boost to global economy from Yuan plan.
  • Russia cut natural gas supplies to Belarus after Minsk failed to pay off debts.
  • Aegon says it will explore strategic options for its life reinsurance business, incl sale.
  • Barnes & Noble, Amazon cut prices of their e-reader in competition to iPad.
  • California Pizza lowers Q2 EPS view to $0.10-0.15 (prev $0.24-0.26) on lower sales.
  • Carlsberg expects Russian beer sales to fall by 10-13% this year, on hike in beer taxes.
  • Covidien announces pricing of $1.5B senior notes offering.
  • FTC to suspend administrative trial proceedings against Intel. Weigh possible settlement.
  • Gazprom sees gas export revenue rising to more than $45B this year.
  • Lockheed Martin: US Defense awards $5B contract for logistics support services.
  • PetSmart to repurchase $400M of shares.
  • Ralcorp Holdings Inc. agreed to buy American Italian Pasta Co. for $1.2B.
  • Samsung Mobile to invest about $2.1B in new production line for mobile-phone displays.
  • Sonic Corp.'s reported a 35% drop profits at $11M; revenue slumped 19% to $145.9M.
  • Station Casinos Judge refuses to block bankruptcy auction.
  • Steelcase misses by $0.02, posts Q1 loss of $0.08/sh. Revs fell 0.7% to $541.8M.
  • Toyota suspends prodn at a plant in southern China due to worker strikes.

Economic Calendar: Data on Existing Home Sales, FHFA Housing Price Index to be released.

Earnings Calendar: ADBE, APOG, CCL, FLOW, FUL, JBL, JEF, PALM, RHT, SXE, WAG.

RECENT RATING ACTIONS
PPL CORP (PPL)
PANTRY INC/THE (PTRY)
CORN PRODUCTS INTERNATIONAL (CPO)
ITT CORP (ITT)
SMITHFIELD FOODS INC (SFD)
JM SMUCKER CO/THE (SJM)
MERCK & CO INC (MRK)
KROGER CO/THE (KR)
EXPRESS SCRIPTS INC (ESRX)
GENERAL DYNAMICS CORP (GD)
RANGE RESOURCES CORP (RRC)
MOTORS LIQUIDATION CO (MTLQQ)

Data provided by Egan-Jones Ratings and Analytics

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 06/22/2010 - 07:57 | 426442 Mongo
Mongo's picture

"Japan targets balanced budget by 2020 to contain debt."

 

Indeed...

Tue, 06/22/2010 - 08:16 | 426463 Sean7k
Sean7k's picture

How does someone say that with a straight face? That has to be one of the funniest/saddest statements I have ever read. They need to be like the US- just stop trying.

Tue, 06/22/2010 - 08:07 | 426452 Sqworl
Sqworl's picture

WTF....no Minsky Pinsky????

Tue, 06/22/2010 - 08:14 | 426458 Mentaliusanything
Mentaliusanything's picture

BP rebalancing its budget with a horribly falling share price turning it radioactive to all who touched it.

Housing in the US just gives up any pretence.

The Brits about to make Austerity a word to be feared with a Budget that shakes down everyone

and the markets (like me) are weary of the hype that fails to turn a friendly card. 

Other than that - Lets make some money by keeping it in our pockets.

Tue, 06/22/2010 - 08:45 | 426480 Mr_Watts
Mr_Watts's picture

You should write something up on BDIY (Baltiic Dry Bulk Index)

which has declined for 18 days in a row. 

Tue, 06/22/2010 - 08:48 | 426483 gtown2007
gtown2007's picture

nice link to Roubini on catch-22 of fiscal austerity + opinions on deflation  http://wallstbeat.com/

Tue, 06/22/2010 - 08:50 | 426486 viator
viator's picture

1) On Feb. 13, BP told the minerals service it was trying to seal cracks in the well about 40 miles (64 kilometers) off the Louisiana coast, drilling documents obtained by Bloomberg show. Investigators are still trying to determine whether the fissures played a role in the disaster.

The company attempted a “cement squeeze,” which involves pumping cement to seal the fissures, according to a well activity report. Over the following week the company made repeated attempts to plug cracks that were draining expensive drilling fluid, known as “mud,” into the surrounding rocks.

2) In early March, BP told the minerals agency the company was having trouble maintaining control of surging natural gas, according to e-mails released May 30 by the House Energy and Commerce Committee, which is investigating the spill.

3) On March 10, BP executive Scherie Douglas e-mailed Frank Patton, the mineral service’s drilling engineer for the New Orleans district, telling him: “We’re in the midst of a well control situation.”

http://www.bloomberg.com/news/2010-06-17/bp-struggled-with-cracks-in-gul...

 

Tue, 06/22/2010 - 10:16 | 426615 brandy night rocks
brandy night rocks's picture

Russia cut natural gas supplies to Belarus after Minsk failed to pay off debts

 

GO FOR THE EYES, BOO

Do NOT follow this link or you will be banned from the site!