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Daily Highlights: 8.17.09
- Administration backs away from public health insurance plan.
- Asian stocks decline on lower than expected Japanese GDP.
- China sends envoy to Washington to lobby against tire tariffs.
- Housing, Factory slowdowns in US probably eased, hinting at a recovery.
- Japan's economy grew for the first time since early last year; Q2 GDP up 0.9%.
- Largest hydro-electric plant in Russia, closed down due to accident.
- Pork plummeting 30% signaled in futures as swine flu cuts Chinese imports.
- Shanghai stocks tumbled 5.7% as commodity prices fell.
- Singapore exports fell 8.5% in July from the same month of 2008.
- Yen gains to 2-week high against Euro on Japan GDP, renewed bank concern.
- Air China to buy Up to 13% stake in Cathay Pacific from Citic.
- AT&T reaches tentative deal with union covering 8,900 core wireline employees
- Baosteel, China's mills win 35% iron ore price cut from Fortescue metals.
- Barclays, Societe Generale get Saudi license for investment banking.
- Berkshire Hathaway acquires stake in medical-supply maker Becton Dickinson.
- Blackstone to team with Shanghai govt on first domestic Chinese fund.
- China halts Linzhou Iron & Steel's sale amid worker protest.
- Chrysler plans to produce Fiat subcompact cars in Mexico.
- Dole Food Co. presented plans for an IPO with SEC to raise $500M.
- FDA approves Schering-Plough drug for schizophrenia, Bipolar.
- Fresnillo's 1H net profit fell 14.1% to $121.1M as revs fell 11% to $378.9M.
- JC Penney just about broke even in Q2; revs down 7.9% at $3.94B.
- Lowe's July net income declines from $938M to $759M.
- Newcrest Mining's Y09 net rises 84.7% helped by soaring gold prices.
- Novartis files legal action against GlaxoSmithKline over a vaccine patent.
- NY's attorney general seen filing a lawsuit against Charles Schwab alleging civil fraud related to its marketing and sales of auction-rate securities.
- S.Africa's MTN Group wants India's Bharti Airtel to hike its offer by $1B.
- Swedbank to raise around $2.1B by issuing shares in a rights issue.
- ThyssenKrupp posts larger-than-est. Q3 loss of €639M; sales down 34% at €9.3B.
- US crackdown on clients of UBS widens to Hong Kong.
Recent Egan-Jones Rating Actions
L-3 COMMUNICATIONS HOLDINGS INC (LLL)
WILLIAMS COS INC/THE (WMB)
JB HUNT TRANSPORT SERVICES INC (JBHT)
SARA LEE CORP (SLE)
GENWORTH FINANCIAL INC (GNW)
ESTEE LAUDER COS INC/THE (EL)
BB&T CORP (BBT)
INTERPUBLIC GROUP OF COS INC (IPG)
ROWAN COS INC (RDC)
BOEING CO/THE (BA)
BLOCKBUSTER INC (BBI)
KING PHARMACEUTICALS INC (KG)
MOTOROLA INC (MOT)
Data provided by Egan-Jones Ratings And Analytics
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Monday Meltdown
http://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=5&dy=0&id=p12845278874
It's not much, perhaps it's nothing, but I noticed that a few days ago, both MOT and SLE, experienced massive changes in daily volume (at least x4 regular daily trading); insider scams still running strong?
Check a new show on the web and fee internet T.V. promoting a real good price jump last week on both of these stocks look at SEC 4 for Goldman Sach have a large position in them also Can it be that Goldman set up the new program because every stock these guys pice seem to just go up over a few days it is called DayTrader Rockstar watch it if you get a change poor in the USA
GS report said the short interest ratio for the S&P 500, at 1.8 days, is at its lowest level in a decade.
http://www.bloomberg.com/apps/news?pid=20601086&sid=a9qB1x.yDlyk
Im watching this closely...is anybody else in Bovespa?
The administration has already stated that Sebelius "misspoke" regarding the public option.
its a doosie
We just
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions