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Daily Highlights: 6.29.10

Tyler Durden's picture




 
  • Asian stocks were mostly lower Tuesday in choppy trade as China falters.
  • BIS warns countries about risks of debt, on keeping interest rates low for too long.
  • China Resources acquires Hong Kong's pacific coffee, to take on Starbucks
  • China's Shanghai Composite slumps 4% in late trade on concerns over flows into equity.
  • Fed adjusts $1.25 trillion plan to end mortgage-bond purchases on supply.
  • IMF Chief says yuan revaluation won't occur 'very rapidly'.
  • US Supreme Court leaves intact the centerpiece of the Sarbanes-Oxley Act.
  • 3M sees Q2 revs of $6.6-6.75B vs. consensus estimate of $6.57B.
  • Agricultural Bank of China lowers its price expectations for the domestic part of its IPO.
  • Apple sells 1.7M iPhone 4s in 3 days.
  • Barnes & Noble misses by $0.08; guides Q1 EPS below consensus.
  • Enbridge Inc. plans an about C$400M expansion of its Waupisoo pipeline in Alberta.
  • General Mills Board approves authorization to repurchase up to 100M common shares.
  • Massey files complaint over regulators, says it was unfairly restricted in conducting its own investigation into the mine explosion.
  • Micron Tech swung to Q3 profit of $939M as revs more than doubled to $2.29B.
  • Noble Corp. to buy closely-held offshore driller FDR Holdings Ltd. for $2.16B.
  • New York's MTA borrows $600M as deficit curtails subway and bus lines
  • Nissan to double vehicle production in Indonesia by 2013, quadruple sales
  • Siemens AG expects "strong profitability" in Q3 led by growth in new orders.
  • Singapore Airlines plans $358M sale of bonds maturing in 10 years
  • Sunoco Logistics buys Texon's butane blending business for $140M plus inventory.
  • Telefonica's Vivo bid stirs Portuguese hostility before vote
  • Tesla raises $226M in first US carmaker IPO in 54 years.
  • Toyota and Honda lead increase in Japan’s auto production as demand recovers
  • URS Corp. to buy smaller UK peer Scott Wilson Group PLC for GBP161M.
  • Volcker rule may give Goldman and Citigroup until 2022 to comply

Economic Calendar: Data on Case-Shiller 20-city Index, Consumer Confidence to be released.

Earnings Calendar: ABCW, API, FNBN, GIS, PARL, WOR, ZZ.

RECENT RATING ACTIONS
XTO ENERGY INC (XTO)
NOBLE CORP (NE)
EXPEDIA INC (EXPE)
NISOURCE INC (NI)
H&R BLOCK INC (HRB)
PHILIP MORRIS INTERNATIONAL (PM)
ISLE OF CAPRI CASINOS INC (ISLE)
REYNOLDS AMERICAN INC (RAI)
ALTRIA GROUP INC (MO)
CABOT CORP (CBT)
EXIDE TECHNOLOGIES (XIDE)
BORGWARNER INC (BWA)

Data provided by Egan-Jones Ratings and Analytics

 

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Tue, 06/29/2010 - 08:37 | 441021 papaswamp
papaswamp's picture

CNBC is reporting a possible $1 Trillion bill to taxpayers for Fannie and Freddie...I personally think it will be much higher.

http://www.cnbc.com/id/37982580

Tue, 06/29/2010 - 08:38 | 441023 lsbumblebee
lsbumblebee's picture

Here's an example of what passes for credible journalism nowadays:

"Oil tumbles below $77 as hurricane fears ease."

http://finance.yahoo.com/news/Oil-tumbles-below-77-as-apf-614183434.html...

Tue, 06/29/2010 - 12:08 | 441690 Grand Supercycle
Grand Supercycle's picture

 

As first suggested on June 23,  looks like the equity counter trend rally has ended.

http://stockmarket618.wordpress.com

http://www.zerohedge.com/forum/latest-market-outlook-1

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