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Daily Highlights: 6.29.09

Tyler Durden's picture





 
  • Commodity rally may end as supply rises, speculators sell bets.
  • Dollar up against euro, yen after China central banker says exchange policy 'stable'.
  • House passes Cap-and-Trade pollution measure, first to curb US emissions.
  • International Energy Agency sees oil demand up 0.6 percent a year over '08-'14 period.
  • Japan auto production falls in May for 8th straight month of declines.
  • Japan industrial output up 5.9 percent in May, rises for third month.
  • Japan stocks fall as share dilution fears send financials tumbling.
  • Unemployment probably climbed at slower pace, factory slump eased: Bloomberg.
  • Japan's Factory output rises 5.9%, third monthly gain.
  • Amazon.com closed accounts with its North Carolina affiliates to avoid paying a proposed sales tax.
  • British financials plan to cut 13,000 jobs.
  • Cathay, Singapore Air get ‘silver lining’ from fuel.
  • Daiwa Securities tumbles on share offering news, fanning worries that value will be diluted.
  • GE to a $100M R&D facility near Detroit to employ about 1,200 scientists.
  • Hartford Fincl Srvcs gets $3.4B in funds from the US. Treasury's TARP.
  • KB Home reported a narrower qtrly loss of $78.4M; revs came in at $384.5M.
  • Mizuho Financial may start 600 billion yen share sale this week.
  • Nokia Siemens Networks gets euro250 milllion loan from European Investment Bank.
  • Novartis in talks to buy parts of Elan, incl. flagship multiple sclerosis products.
  • Oracle, Sun merger gets closer antitrust scrutiny.
  • Swiss banks shun Americans as U.S. compels disclosure.
  • Towers Perrin, Watson Wyatt to merge creating the world's biggest employee benefitsconsultancy.
  • Vodafone may bid for Deutsche Telekom’s U.K. Unit.
  • Markets will get no independence from data in a short week as gauges of employment, factory-sector health are on tap.

Earnings Calendar: API, APOL, BNHNA, HRB, UDW. Companies to watch: Amazon.com, Apollo Group, GE, H&R Block, KB Home. Recent Egan-Jones rating actions: KIMBERLY-CLARK CORP (KMB) HJ HEINZ CO (HNZ) MICRON TECHNOLOGY INC (MU) MCCORMICK & CO INC/MD (MKC) LENNAR CORP (LEN) CONAGRA FOODS INC (CAG) LEAR CORP (LEA) QUEST DIAGNOSTICS INC/DE (DGX) LABORATORY CORP OF AMERICA (LH) RITE AID CORP (RAD) ORACLE CORP (ORCL) MONSANTO CO (MON) CKE RESTAURANTS INC (CKR) Data from: Egan-Jones Ratings And Analytics .

 


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Mon, 06/29/2009 - 09:54 | Link to Comment shargash
shargash's picture

"Japan industrial output up 5.9 percent in May, rises for third month"

Japanese exports are still plunging. Internally, wages and prices are both falling. Yet their factories are increasing their output. Who's going to buy the crap they're producing? They're setting themselves up for an inventory-driven downturn on top of a financial meltdown.

Mon, 06/29/2009 - 12:12 | Link to Comment Anonymous
Mon, 06/29/2009 - 12:13 | Link to Comment Anonymous
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