Daily Highlights: 8.04.09

• Asian share markets were higher Tuesday with commodity-related stocks up.
• Construction spending unexpectedly rises on revival in home sales.
• Germany to champion Magna's Opel bid in Berlin talks.
• Dubai real estate prices down 50%from peak: Property Index.
• Anadarko Petroleum swung to a Q2 loss of $216M on lower prices, output up 12%.
• ANZ to pay $550M for some of RBS' Asian banking operations.
• Apple said Eric Schmidt, Google's CEO, is resigning from Apple's board.
• BMW AG posted a 76% slump in Q2 net profit due to sagging demand. [how do you like them protectionisms]
• BofA hit by $33M fine over Merrill bonuses.
• CNA Financial Corp.'s profit fell 42% to $105M, on investment losses.
• Centex Corp. swung to a Q1 profit of $85.1M, thanks to an $410M income-tax benefit.
• Chesapeake Energy swung to a Q2 profit of $243M as hedging played in its favor.
• Emerson's June net income declines from $612M last year to $387M this year.
• GM's July sales in China rose 78% from a year earlier to 144,593 vehicles.
• HSBC Hldgs reported a 57% drop in 1H profits, at $3.3B; outlook remains uncertain.
• HSBC Asia Pac Head: 'significant' pressure on loan margins in China.
• Humana's Q2 profits rises 34% to $281.8M, helped by gains at its Medicare business.
• Marathon Oil reports Q2 EPS of $0.58 (cons $0.53); revs fell 39.8% to $13.36B.
• MGM Mirage posted a Q2 loss of $212.6M as revenue sank 20% to $1.66B.
• MillerCoors posted a 75% surge in profit to $304.9M on prior-year charges.
• Munich Re posts a 14% rise in Q2 profits at €691M, helped by higher premium income.
• NuStar Energy beats by $0.07; posts Q2 EPS of $1.04. Revs fell 28.3% to $987.8M.
• Portland General Elec Q2 profit falls 38% on lower sales, prices.
• Pulte Homes posted a Q2 loss of $189.5M; revs slump 58% to $678.6M.
• RBS, Lloyds may write down $29B of property debt.
• Standard Chartered to sell $1.7B of stock as profit beats estimates.
• Toyota posts qtrly loss of $816M, sees outlook improving.
• Tyson Foods posted a Q3 profit of $134M, revs fall 2.7% to $6.66B.
• UBS Q2 loss widens to $1.32B, cites charges related to its own debt, restructuring effort.
• Unisource Energy posts Q2 EPS of $0.80 (cons $0.71); revs fell 6.3% to $337.78M.
• Vulcan Materials sees FY09 EPS of $0.40-0.65 vs. cons est. of $0.68.

Recent Egan-Jones Rating Actions
UNISYS CORP (UIS)
FREEPORT-MCMORAN COPPER (FCX)
STANDARD PACIFIC CORP (SPF)
AVERY DENNISON CORP (AVY)
BECTON DICKINSON AND CO (BDX)
WEYERHAEUSER CO (WY)
KELLOGG CO (K)
VALERO ENERGY CORP (VLO)
COLGATE-PALMOLIVE CO (CL)
AVON PRODUCTS INC (AVP)
EASTMAN KODAK CO (EK)
DOW CHEMICAL CO/THE (DOW)
WALT DISNEY CO/THE (DIS)

Data provided by: Egan-Jones Ratings and Analytics

Comments

[Gigantor]

Lord. I see that "revival" of home sales line....and then look at the earnings from below....

Shit like that can make ones head spind and then explode.