Daily Highlights: 7.21.09

Tyler Durden's picture
  • Asia markets track US higher amid optimism about economy.
  • Australian central bank says global economy stabilizing, but interest rates could fall further.
  • California Lawmakers say they have deal to close $26B gap.
  • Euro slips back from 7-month highs to below $1.42 in early European trading.
  • Fed's emergency short-term lending programs eases as credit crisis eases.
  • Oil hovers near $64 in Asia as investors eye company results, weak crude demand.
  • UK public sector net debt at 13 bln pounds in June, 56.6 percent of GDP.
  • Bain, Oaktree said to team with Chinatrust to bid for AIG's Taiwanese unit.
  • Barnes & Noble to launch its own e-bookstore with bestsellers priced at $9.99.
  • Bemis Co to sell 7.5M shares to fund acquisition of Alcan packaging unit of Rio Tinto.
  • Boston Scientific's 2Q net rose 61% to $158M on year-ago's acquisition charges.
  • CAT's June net income declines from $1.1B to $371M.
  • China Investment Corp., a sovereign fund, to buy 40% stake in Citic Capital.
  • CIT reports $3B credit facility, to start 'comprehensive' restructuring of liabilities.
  • Continental Airlines posts 2Q loss of $213 million, as business travel remains soft.
  • Most Delphi creditors vote against plan for transfer, sale.
  • Eaton 2Q net declines 91%; lowered Y09 EPS f'cast to $2-2.2 (prev $2.50-3.00).
  • Entergy lowers 2009 earnings view, projects 2Q below cons est.
  • Halliburton's Q2 net falls 48% to $262M; revs down 22% to $3.49B.
  • Hasbro Inc.'s 2Q earnings rose 4.8% to $39.3M, boosted by strong sales.
  • Human Genome said its experimental drug Benlysta met goals of treating lupus.
  • Intel to offer $1.5B debt, use most of proceeds to buy shares.
  • Ivanhoe Energy sells its US oil and gas operations for $40M.
  • Johnson Controls posted its first profitable quarter since last autumn, of $163M.
  • Legg Mason swung to a profit, beating est., amid 33% drop in operating cost.
  • M&T Bank 2Q net dives 75% amid acquisition, other charges.
  • Southwest Air's June net income declines from $321M to $54M.
  • TD Ameritrade settles securities case; buys back $456M of auction-rate securities.
  • Texas Instruments' 2Q rev at $2.46B (cons $2.42B); sees 3Q revs at $2.5-2.8B.
  • UnitedHealth Group 2nd-quarter profit more than doubles on absence of lawsuit

Recent Egan Jones Rating Actions

CHARLES SCHWAB CORP/THE (SCHW)
AVNET INC (AVT)
JOHNSON CONTROLS INC (JCI)
CIT GROUP INC (CIT)
HALLIBURTON CO (HAL)
COCA-COLA ENTERPRISES INC (CCE)
PHH CORP (PHH)
EQUIFAX INC (EFX)
BLACK & DECKER CORP (BDK)
CIT GROUP INC (CIT)
WESTERN UNION CO/THE (WU)
GENERAL ELECTRIC CO (GE)
PPG INDUSTRIES INC (PPG)

Data provided by: Egan-Jones Ratings and Analytics

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Anonymous's picture

http://www.sigtarp.gov/reports.shtml

You forgot this. It's the TARP report that the Treasury is attempting to discredit. Pages 138 and 139 accurately report the numbers so many lazy reporters appear to have no interest in.

The truth is far far removed from the media campaign to discredit and the distortions

Mos's picture

This reminds me more and more of last summer, companies were beating estimates and the market was rising but the fundamentals of the economy were rapidly deteriorating.  We all know how that turned out...