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