Daily Highlights: 7.31.09
- Initial jobless claims in US increase; total rolls unexpectedly decline.
- US Treasuries fell, heading for a 4th monthly loss on speculation GDP improving.
- Japan's unemployment rate rises to a 6-yr high in June; Consumer prices fell at a record pace.
- Asian stocks rise on profit reports; MSCI Index set for fifth monthly gain.
- AK Steel announces price increase of $40/tonne for its carbon steel products.
- Abraxis posts Q1 EPS of $0.17/sh, beating estimates by 29 per cent.
- Air France Q1 net loss at €431M vs. cons est. of a loss of €194M.
- Anglo American profit falls 31% as metal, commodities, gem prices decline.
- Aon profit fell 11%.
- Arch Chemicals sees FY09 EPS of $1.60-$1.80 vs. prev guidance of $1.85-$2.05.
- Avon Products Q2 net drops 65% to $82.9M, revs beat est., comes in at $2.47B.
- British Airways posts wider-than-estimated loss after revenue declines 12%.
- Cigna Corp.'s Q2 earnings rises 60% aided by $110M in income from its annuity biz.
- Colgate's Q2 earnings rose 14% to $561.6M amid prior-year restructuring costs.
- DTE Energy's Q2 net triples to $83M on energy trading; revs fell 25% to $1.69B.
- Disney CEO: Co sees signs of economic stabilization.
- Dow Chemical swings to a loss of $344M on costs from purchasing Rohm & Haas.
- Embraer's Q2 profit falls 50% to $67.8M on currency losses, more tax expenses.
- Enel profit increases 29% amid lower sales; $14B bond sale planned.
- Exxon Mobil posts its lowest qtrly profit since 2003, net down 66%.
- Ford slows bidding process for its Volvo unit, tries to get a better price.
- HSBC may post 1H loss as US unit pushes bad loans to $15B.
- Kellogg Co.'s Q2 net rises 13% to $354M amid cost cutting steps. Revs dip 3% to $3.2B.
- MetLife swung to a Q2 loss as it recorded another $3.83B of investment losses.
- Nintendo, Sony face pressure to cut prices as Wii, PlayStation sales slump.
- Telefónica Q2 net falls 6.1% to €1.93B ($2.71B) on lower revenue.
- Total's net profit drops 54% in 2Q.
- Travelers Cos.' Q2 net falls 21% on lower revenue and higher claims costs.
- Vedanta profit drops 52%, beats analyst estimates on cost cuts, suspension.
- Wynn Resorts beats by $0.10, posts Q2 EPS of $0.09; revs down 12.3% at $723.3M.
- Weyerhaeuser reorts a 59 cents lossper share.
Recent Egan-Jones Rating Actions
WALT DISNEY CO/THE (DIS)
WYNDHAM WORLDWIDE CORP (WYN)
CABOT CORP (CBT)
AMKOR TECHNOLOGY INC (AMKR)
ACCO BRANDS CORP (ABD)
XEROX CORP (XRX)
AGCO CORP (AGCO)
MASSEY ENERGY CO (MEE)
RYLAND GROUP INC (RYL)
GOODYEAR TIRE & RUBBER CO/THE (GT)
PENSKE AUTO GROUP INC (PAG)
MCKESSON CORP (MCK)
Data provided by: Egan-Jones Ratings and Analytics