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Daily Highlights: 6.24.10
- Asian stocks rose, led by material producers and Japanese trading companies.
- China's chief auditor says rising debts of local governments are risky to economy.
- China's yuan rises moderately against the U.S. dollar.
- Fed offered a subdued assessment of the economy; affirmed rates would remain near zero for "an extended period."
- G-20 countries divided on issue of stimulus spending versus soaring deficits.
- Japan's exports rose 32.1% in May from a year earlier, the MoF - lower than expected.
- Oil falls to near $76 in Asia on signs US crude demand.
- U.S. Durables Orders Probably Gained on Business Spending
- US New-home sales fell 32.7% from April - record low seasonally adj annual rate.
- Areva sees 1H revenue up 2%, operating loss due to addln €400M in reactor funds.
- Axa SA to sell part of its UK life-insurance unit to Resolution Ltd. for $4.1B.
- Bed Bath & Beyond reports Q1 EPS of $0.52 (cons $0.48); revs rose 13.5% to $1.92B.
- China's AgBank's Hong Kong IPO may raise up to $13B
- Darden Restaurants misses by $0.07, posts Q4 EPS of $0.81. Revs fell 5.7% to $1.86B.
- Dell sees FY11 revs of ~$60.3-62.95B vs consensus est. of $61.55B.
- Fannie Mae to "lock out" borrowers from a new loan for 7 years if they had defaulted.
- Ford said it will invest $450M in a new passenger-car plant in Thailand.
- Herman Miller Q4 falls 70% to $2.1M on higher charges. Revs grew 0.5% to $321.5M.
- H&M’s profit rises 24% in the second quarter but sales slipped in May.
- India's Reliance Ind buys 45% stake in Pioneer Natural's Texas shale assets for $1.15B.
- Judge ruled in favor of Google against Viacom over alleged copyright violations.
- Lions Gate said to hold merger talks with Metro-Goldwyn studio.
- Nike's Q4 net rises 53% to $521.9M after year-ago restructuring charges; Revs up 7.7%.
- Offshore insurance to shrink as providers flee BP-like risk.
- Paychex beats expectations by a cent, Q4 EPS at $0.32 as revs come in flat at $496.2M.
- Providence Equity Partners in preliminary talks with Hasbro to take it private.
- Reliance Industries to pay $1.3B for stake in Pioneer's shale gas.
- Rite Aid's loss narrows to $73.7M as costs fall. Revs fell 2.1% to $6.37B.
- Suncor Energy to sell non-core Bearberry and Ricinus assets in Alberta for ~$285M.
- Toyota hopes efficiency to offset China labor cost hike.
RECENT RATING ACTIONS
CIGNA CORP (CI)
SOUTHWEST GAS CORP (SWX)
RITE AID CORP (RAD)
TEEKAY CORP (TK)
JABIL CIRCUIT INC (JBL)
BRUNSWICK CORP/DE (BC)
CARNIVAL CORP (CCL)
CROWN HOLDINGS INC (CCK)
JEFFERIES GROUP INC (JEF)
AEP INDUSTRIES INC (AEPI)
ALLIANCE ONE INTERNATIONAL (AOI)
GEORGIA GULF CORP (GGC)
Data provided by Egan-Jones Ratings and Analytics
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When did Fannie Mae hire someone with a brain?
...or at least a moral conscience?
anyone heard of the massive military buid up near iran ?
report says us soldier are ready in azerbaidjan
http://www.blacklistednews.com/news-9399-0-3-3--.html
You mean other than in Afghanistan, Iraq, Kyrgistan, Qutar, the Persian Gulf, the Indian Ocean and Diego Garcia(long range bombers and bunker busters)?
We've had Iran surrounded for years. They(the regime) are weak and evil, and yet we are putting up with their direct aid in killing our soldiers. Hours of matter of fact congressional testimony about it barely raises an eyebrow. No reaction.
Completely off topic question...
Researching the historical birth rates*
In 1950-1960, the birth rate (number of births per thousand women) was 24.3. Total population in 1960 was approximately 186,236,000
In 2010, the birth rate was estimated at 14.2 (although studies are showing the recession is reducing the actual from estimated numbers). Population is estimated at 309,577,000**.
Assuming a 50/50 mix of men to women for boomers (not entirely true, ranged from 98 men per 100 women), that's approximately 2,250,000 births per year.
In 2010, assuming the same mix and same model today (97.5 men per 100 women), that's 2,197,996 births per year.
That means an estimated -52,004 births today versus 1960.
However, the estimated number of those aged 65 and over in 1950 was 11,242,000.
The number of 65+ population for 2010 is estimated to be 41,155,000
A net of 29,913,000
Is the birth death model, which is adding job growth, attributed to life expectancy, rather than actual work force?
To verify that I should not be concentrating on those entering the workforce, I checked the birth rate in 1990 (age 20)... When I do, with a total population of 254,865,000 with birth rate of 15.7 per 1,000 women, nets 2,000,690 births...
Or a net differential of -250,000 of those entering the work force as those leaving it.
Am I missing something obvious?
* http://data.un.org/Search.aspx?q=world%20population
** www.census.gov
Thanks!
> G-20 countries divided on issue of stimulus spending versus soaring deficits
Isn't that like saying: "We've got both kinds: Country and Western!"
"Toyota hopes efficiency to offset China labor cost hike."
Um. I didnt think Toyota were famous for their inefficient production lines. So labour costs up 5%, fire 5% of the workforce - that kind of efficiency?
That EURO buying support has returned ...
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1