Daily Highlights: 8.13.09
- Asian Stocks rise as Fed says recession easing; MSCI Asia Pac Index posts its biggest gain this month.
- Chinese stocks rebound after sharp decline, led by banks and metals.
- China wants more say over iron prices, plans moratorium on new steel projects.
- Euro rises against dollar in morning European trade on positive economic news.
- Euro area contracted only 0.1% in Q2 after unexpected growth in Germany, France.
- Euro zone industrial production fell in euro zone in June, reversing May's gain.
- Fed suggested economy is "leveling out", to trim lifeline by $300B by Oct.
- Food companies warned of a severe shortage of sugar, threaten price increases.
- Foreclosure filings in US rise to record for third time in five months.
- Germany's real GDP grew for the first time since early 2008, rises 0.3% YoY.
- Global confidence level jumps to a 22-month high on signs recession is easing.
- IEA bumps 2009 oil-demand forecast higher on improved Asian economic activity.
- India wholesale prices fall 1.74%; biggest drop in more than three decades.
- Aegon NV will raise $1.4B in equity issue to repay Dutch government.
- Anglo American sell its ~50% stake in Tongaat, the South African sugar producer.
- Anheuser-Busch InBev posts $1.07B net profit; revs dip 9.5% to $9.5B.
- CACI Intl's Q4 net rose a greater-than-expected 23% to $29M on govt spending.
- Hyundai may raise 2009 US sales on 'Clunkers' program, reversing decline.
- Kohl's Aug. net income slipped less than expected from $236M last year to $229M.
- Liz Claiborne posts a loss of $82.1M; revs fell 29% to $683.8M.
- Macy's Q2 earnings fell 90% to $7M ; sales dip 9.7% to $5.16B.
- Prudential says first half loss narrows from same period last year.
- Quicksilver Resources announces a $250M senior notes offering.
- Rio Tinto's US unit plans $500M IPO.
- RWE's 1H profit rises 4.7% to $3.17B after locking in power tariffs.
- Singapore Tele Q1 net rises 7.7% to $655M helped by gains at foreign units.
- Sinochem Corp to buy Emerald Energy for $875M, get Syrian, Colombian oil fields.
- Telstra's Y09 net profit rises 10.3% to $3.4B helped by 2.7% rise in revs.
- Switzerland, UBS settle tax case; allows UBS clients to appeal to a Swiss tribunal.
- WalMart's June earnings at $3.4B last year and this year.
Recent Egan-Jones Rating Actions
AMDOCS LTD (DOX)
THOMSON REUTERS CORP (TRI)
FMC CORP (FMC)
DYNEGY INC (DYN)
MACY'S INC (M)
BRUNSWICK CORP/DE (BC)
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SYSCO CORP (SYY)
MCDERMOTT INTERNATIONAL INC (MDR)
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