Daily Highlights: 7.7.10

• Asian stocks fall, Yen strengthens on slowing US service industry growth.
• Brazil's Lula falters in bid to cut floating-rate debt as rates increase.
• China has significantly increased its purchases of Japanese govt bonds as it diversifies its foreign-currency reserves.
• China plans new resource tax on coal, oil, gas in Western areas.
• Europe will outline stress test procedure.
• Iceland’s lenders stand to lose as much as $4.3B, after court ruling last month found that some foreign loans were illegal.
• Oil traded near $72 a barrel in New York.
• AgriBank said to raise $19.2B in HK, Shanghai IPO.
• Amazon launches UK grocery web site.
• AMR Corp's June load factor was 86.8%, an increase of 1.6 points from a year earlier.
• AT Kearney Inc. and Booz & Co. called off discussions about a possible merger.
• Bebe to close PH8 Chain, pay $1/share special dividend.
• Enel sees 2010 Ebitda topping €16B previous estimate -CEO.
• Hologic to acquire Sentinelle Medical for $85M, plus a two-year contingent earn out.
• HTC Corp's Q2 profit rose 33% to $268M as sales jumped 58%.
• JA Solar Holdings to buy Shanghai Jinglong Solar Technology Co. for $29.3M.
• Lockheed Martin will try to shrink its management team by offering financial
• Microsoft plans to lay off a small number of employees as early as this week.
• Monsanto loses case in Europe over seeds.
• News Corp's MySpace said to hold ad talks with Microsoft, Yahoo, Google.
• Nokia is selling off its wireless modem business to Renesas Electronics.
• Patterson-UTI buys pressure-pumping, wireline assets from Key Energy for $237.7M.
• Peugeot said to consider revival of $886M Indian plant investment.
• Samsung Electronics posted record Q2 earnings, net up 87% at $4.1B on chip prices.
• Sony, facing IPad challenge, cuts prices of e-Readers by as much as $50.
• US Airways reported its passenger revenue per available seat mile rose 22% in June.

Economic Calendar: Data on Crude Inventories to be released today.

Earnings Calendar: CARV, DNBK, FDO, GRZ, ISBC, NGA, SIX, UWN, WDFC.

RECENT RATING ACTIONS
DORAL FINANCIAL CORP (DRL)
PINNACLE WEST CAPITAL CORP (PNW)
MARSHALL & ILSLEY CORP (MI)
NAVISTAR INTERNATIONAL CORP (NAV)
CIENA CORP (CIEN)
PROGRESSIVE CORP/THE (PGR)
CLIFFS NATURAL RESOURCES (CLF)
ROWAN COS INC (RDC)
NATIONAL GRID PLC (NG/ LN)
ACTUANT CORP (ATU)
STEWART ENTERPRISES INC (STEI)
CONSTELLATION BRANDS INC (STZ)

Data provided by Egan-Jones Ratings and Analytics

Comments

[GIANTKILR]

Maybe you should change this to "Daily Lowlights"

[elmechanic]

"Monsanto loses case in Europe over seeds."

This alone makes up for all the lowlights

[herry]

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