Daily Highlights: 7.13.10

• Asian shares mostly lower despite Alcoa's positive earnings report.
• Avg housing prices in China fell in June for the first time in 16 mos, as govt checks speculation.
• China reiterates policy-tightening bias on property sector.
• Euro drops down to $1.2550 in early European trading.
• European banks poised to win a reprieve in Basel as regulators shape new capital rules.
• France's Sarkozy rejects tax increase, retreat on raising retirement age.
• Japanese stocks rise on profit expectations; metals retreat on fears of slowing China demand.
• Moody's downgrades Portugal's bond ratings to A1, growth prospects to remain weak.
• UK consumer price inflation rate falls to 3.2% in June.
• Alcoa beats by a cent, posts Q2 EPS of $0.13. Revenues rose 22.2% to $5.19B.
• Aon Corp. to buy Hewitt Associates in a cash-and-stock deal valued at about $4.9B.
• Avis to make an offer for Dollar Thrifty that would top Hertz's $1.2B bid.
• BMW raises forecasts for 2010 sales, earnings due to market improvement.
• BP installs new cap on leaking well, plans pressure test.
• Chevron expects earnings for Q2 2010 to be higher than Q1.
• CSX reports Q2 EPS of $1.07 (cons $0.98); revs rose 22% to $2.7B (cons $2.63B).
• ExpressJet Holdings said its June traffic rose 23 percent from a year ago.
• J&J to acquire Micrus Endovascular Corp. for about $480M.
• Novellus beats by $0.06, reports Q2 EPS of $0.66 as revs rose 169.6% to $321.4M.
• Riviera Holdings files for bankruptcy.
• SKC expect sales to increase 79% by 2012 on rising solar panel, TV demand.
• Tesco urged by investors to make lowball bid for Carrefour's Asian assets.

Economic Calendar: Data on Trade Balance, Treasury Budget to be released today.

Earnings Calendar: AIR, AMR, ASA, EMMS, INTC, KMP, MTG, NG, RMCF, STU, SXE, YUM.

RECENT RATING ACTIONS

CENVEO INC (CVO)
XCEL ENERGY INC (XEL)
SILGAN HOLDINGS INC (SLGN)
SANDISK CORP (SNDK)
AVON PRODUCTS INC (AVP)
WEYERHAEUSER CO (WY)
APACHE CORP (APA)
AON CORP (AON)
DEAN FOODS CO (DF)
DOMTAR CORP (UFS)
COLLECTIVE BRANDS INC (PSS)
SEMPRA ENERGY (SRE)

Data provided by Egan-Jones Ratings and Analytics

Comments

[Commander Cody]

OK, so no double-dip.  Carry on.

[papaswamp]

....more coffee!

[Goldenballs]

Same Shit,Different Day ................... Bail out while you can !!!!!!!

[DosZap]

*

[DosZap]

Don't look now, but North Korea & China may be fixing to go at it.

http://www.telegraph.co.uk/news/worldnews/asia/northkorea/7885642/North-Korean-soldiers-defect-to-China-fuelling-fears-of-imminent-military-clash.html

[DosZap]

Another Democrat LOSES IT.................LOL

http://www.breitbart.tv/another-democrat-congressman-loses-temper-on-camera/

[DosZap]

Prechter on Crack..............

http://www.elliottwave.com/freeupdates/archives/2010/07/12/Quadrillion-Dollar-Debt--Day-of-Reckoning--Looms.aspx

Hold USD's & Treasuries?

[herry]

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