Daily Highlights: 6.23.10
- 56% of 106 economists, analysts surveyed expect home prices to fall this year: Macromarkets LLC.
- Asian stocks fell Wednesday, with energy stocks among the biggest losers.
- Banks hit by £2B yearly levy in UK; France and Germany promise similar measures.
- Chinese steelmakers hit hard by govt saying it will scrap a tax rebate for exports.
- Oil firms, drill operators clash on who should pay for rigs idled by the recent offshore-drilling moratorium.
- Adobe Board grants authority to repurchase up to $1.6B in common stock by 2012.
- Apogee Q1 loss wider than expected on margin plunge, weak sales.
- Apple iPad sales hit three million 80 days after launch.
- Apple and Android lead smartphone 38% growth in Western Europe
- BASF sees good Q1 business trends continuing in Q2 -CEO. To acquire Cognis in deal worth €3.1B, including debt.
- Carnival Q2 net off 4.5% at $252M on fuel costs; Revs up 8.4% at $3.2B.
- CKE Restaurants posts Q1 loss of $0.06/sh (cons +$0.18/sh); revs fell 2.6% to $435.2M.
- Credit Agricole's Greece unit now expects to return to profit in 2012 (prev 2011).
- FCC approves AT&T's $2.35B purchase of wireless licenses from Verizon Wireless.
- Google's Android winning over software developers and gaining ground on Apple
- HB Fuller beats by a cent, posts Q2 EPS of $0.39. Revs rose 16.3% to $347.9M.
- Italy's Intesa Sanpaolo sells 96 branches, local bank to Credit Agricole for €740M cash.
- Jabil Circuit swings to Q3 profit of $52M as revs jump 32%. Sees a better Q4.
- McCormick announces new share repurchase authorization of up to $400M.
- Petrobras postpones $25B share issue; raising set back at least two months.
- Philip Morris says profit to increase as sales compensate for weaker Euro
- SAIC to raise almost $1.5B in share sale for own brands
- Sanofi may pay Regulus up to $750M for MicroRNA drug development
- Shell pays up for bond sale as energy debt extends losses
- Walgreen's Q3 net falls 11% to $463M, hit by elimination of a tax benefit. Revs up 6.1%.
- Walt Disney to sell luxury vacation homes in Florida.
Economic Calendar: Data on New Home Sales, Crude Inventories, FOMC Rate Decision on card.
Earnings Calendar: BBBY, FRD, FSII, GRO, KMX, MLHR, NKE, PAYX, RAD.
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Data provided by Egan-Jones Ratings and Analytics
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