Daily Highlights: 7.30.09

• Alcatel-Lucent swung to a net profit of €14M ($19.6M) vs. a year-ago loss of €1.1B.
• Ambac Fincl expects Q2 impairment losses on credit derivatives to rise by ~$1.6B to $4.9B.
• BAE Systems swung to 1H loss of $134M; revs jump 28%.
• British American Tobacco H1 profit up 16 pct to 1.45 billion pounds.
• British Sky Broadcasting posts a solid fourth-quarter net profit.
• BT Q1 profits fall 33 percent, hit by competition and low Internet prices.
• Cablevision said to be preparing for Madison Square Garden spinoff, incl NY Knicks.
• Centrica’s H1 net profit down 89 percent; operating profit down only 5 percent.
• ConocoPhillips Q2 net drops 76% amid sharply lower crude prices.
• Conseco posts profit for second straight qtr; complies with credit agreement covenants.
• German car parts and tire company Continental AG reports Q2 net loss of €190M.
• Deutsche Bank sets aside €1B ($1.4B) for risky loans in Q2, more than cons estimated.
• Electricite de France SA reports small increase in net profit to $4.37 billion.
• France Telecom first half profit falls 4.3 percent.
• General Dynamics' Q2 net falls 3.6%; sees Y09 EPS at $6.05-6.15.
• Lincoln National Corp reported a loss of $161.4M vs. year-ago profit of $124.7M.
• Massey Energy Co. reported Q2 EPS of $0.24, exceeding cons est. by 40 percent.
• NTT DoCoMo says profit off 15 percent in 1Q as voice charge income falls.
• NYSE Euronext has Q2 loss of $182M after severance payments.
• Renault posts H1 loss of euro2.71 billion ($3.82 billion).
• Rolls-Royce net soars on currency; underlying earnings up 9 percent.
• Royal Caribbean Cruises swung to Q2 loss of $35.1M amid charges, lower revs (-15%).
• Sanofi to buy Merck's stake in animal-health venture Merial for $4B.
• Shell net profit falls 67 percent in Q2 to $3.82 billion.
• Sony reports 37.1 billion yen loss first quarter, keeps forecast for more red ink.
• Siemens Q3 net profit €1.32B vs €1.42B year ago; revs down 4% at €18.34B.
• Sony swings to $390M loss, as stronger yen erodes value of overseas sales, beats f'casts.
• Sprint Nextel's loss widens to $384M as revs dipped 10% $8.14B.
• Time Warner profit falls 34% to $519M amid continued ad woes, weakness at AOL.
• Visa Inc. posted a 73% jump in Q3 net at $729M, revs rose 2% to $1.6B.
• VW says Q2 profit down 83 percent to €283M on dropping sales amid recession.

Recent Egan-Jones Rating Actions

MCKESSON CORP (MCK)
SPRINT NEXTEL CORP (S)
TIME WARNER INC (TWX)
ROYAL CARIBBEAN CRUISES LTD (RCL)
ARCELORMITTAL (MT)
PRAXAIR INC (PX)
FEDEX CORP (FDX)
TEXTRON INC (TXT)
ECOLAB INC (ECL)
BE AEROSPACE INC (BEAV)
OFFICE DEPOT INC (ODP)
AMGEN INC (AMGN)
OLIN CORP (OLN)

Data provided by: Egan-Jones Ratings and Analytics

Comments

[slore]

Economic calendar:
Jobless Claims 8:30 AM ET
EIA Natural Gas Report 10:30 AM ET

3-Month Bill Announcement
6-Month Bill Announcement
7-Yr Note Auction

Fed Balance Sheet 4:30 PM ET
Money Supply 4:30 PM ET

[Anonymous]

Such stellar earnings from so many companies can only mean we have a big up day ahead of us today! I for one am so thankful that this recession is finally over.