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Daily Highlights: 6.7.10

Tyler Durden's picture




 
  • Asian stocks, Euro tumble on US jobs report, Hungary debt; Bonds rally.
  • China’s stocks fell to a 13-month low on Chinese banks’ share sales, US econ data.
  • The euro fell, hitting its lowest in more than four years against the dollar.
  • G20 drops support for fiscal stimulus.
  • Germany was close to finalizing a major package of government savings, which would likely cut social welfare, public sector jobs and raise taxes.
  • Zinc smelters in China have idled as much as 8.8% of capacity as prices decline.
  • Agricultural Bank of China, Bank of Communications may raise less than estimated in share sale on market slump.
  • AT&T in informal talks with India's Reliance Communications for minority stake.
  • Blyth Inc. cuts Fiscal 2011 EPS outlook to $2.90-3.20 (prev $3.20-3.50), cites FX swings.
  • Cathay, Swire halt trading of shares in HK, triggering Haeco stake speculation.
  • Emerson Electric to raise its GBP723M offer for Chloride Group over the next two weeks.
  • FirstEnergy, Allegheny Energy file merger application with Virginia Commission.
  • Foxconn will double salaries for lowest-paid China workers after suicides.
  • Grifols SA in talks to buy Talecris Biotherapeutics Holdings Corp. for more than $3B.
  • Johnson Controls still interested in pursuing its $1.25B offer for interiors, electronics business of Visteon Corp.
  • Motorola sees enterprise annual growth 5%-8% through 2012.
  • Oceaneering Intl cuts 2010 EPS by 14% on the 6-month moratorium on deep-water permitting and drilling activity in the Gulf of Mexico.
  • Oracle to cut more jobs in Europe, Asia as it absorbs Sun Microsystems.
  • Prudential CEO Thiam has a plan to expand in Asia amid resignation calls following the takeover failure of AIA
  • Spain's BBVA considering takeover bid for British assets of Australia's NAB.
  • Volkswagen ends preliminary talks for a potential tie-up with Proton Holdings Bhd.
  • Wal-Mart is looking for acquisitions around the world: Division chief, Doug McMilon.
  • Xinjiang Goldwind seeks $1B in HK share sale, aims to rank among the world’s top three wind turbine makers.

Economic Calendar: Data on Consumer Credit to be released today.

Earnings Calendar: ALTR, AOI, BH, CASC, CWST, EONC, FCEL, FGP, THO, TRU.

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Data provided by Egan-Jones Ratings and Analytics

 

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Mon, 06/07/2010 - 11:41 | 399681 seventree
seventree's picture

Foxconn will double salaries for lowest-paid China workers after suicides.

Chinese workers have found a collective bargaining tool that seems to be working. I wonder if this will catch on in the US.

Of course it's tough if you draw a low number, but remember it's for the common good.

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