Daily Highlights: 8.17.2010

• Australia, Korea central banks harbor doubts on global outlook.
• Big banks ease standards on small-business lending - Fed survey.
• BOJ doesn't see threat in recent Yen rise.
• China cuts long-term US Treasuries by most ever as yields drop.
• German investor optimism may drop to 16-month low on weaker growth outlook.
• U.K. July annual consumer price inflation up 3.1%.
• Yen falls versus Euro on rebound in Asian stocks, intervention speculation.
• Aegon to repay $2.6 bln of state aid within a year.
• Agilent beats by $0.06, posts Q3 EPS of $0.54. Revs rose 30.9% to $1.38B.
• American Express 30-day delinquencies 2.6% in July vs 2.7% in June.
• BAA, Union avert UK airports strike.
• Barclays pays $298M to US to settle charges of facilitating payments to parties and countries facing US sanctions.
• BP raises $5B in loans, bid to bolster liquidity following spill in Gulf of Mexico.
• Carlsberg raised its f'cast for 2010 after Q2 net jumps 36% on higher sales.
• Dell to purchase data-storage company 3PAR for about $1.15B in cash.
• GM agrees to pay Opel workers $1.4B if car maker fails to invest in new models.
• Hulu, the online-video site owned by three large media companies, is exploring an IPO.
• Lowe's profit rose 9.6% to $832M, sales disappointed, but were up 3.7% at $14.36B.
• Medco Health Solns to buy closely held research firm United BioSource Corp. for $730M.
• Pactiv Corp. likely to be acquired by New Zealand's Rank Group.
• RBS sells €1.4B portfolio of primarily sr. loans to a fund managed by Intermediate Capital.
• Sigma Pharma to sell its pharmaceutical unit to Aspen Pharmacare for $803.5M.
• Urban Outfitters reports Q2 EPS of $0.42 (cons $0.39); revs rose 20.4% to $552.2M.

Economic Calendar: Data on Housing Starts, Building Permits, PPI, July Industrial Production, Capacity Utilization to be released today.

Earnings Calendar: ABM, ANF, BOBE, CACI, HD, KTCC, LZB, PLAB, SKS, SPB, TJX, WMT.

RECENT RATING ACTIONS
DELL INC (DELL)
CAPITAL ONE FINANCIAL CORP (COF)
SYSCO CORP (SYY)
MEDCO HEALTH SOLUTIONS INC (MHS)
BRINKER INTERNATIONAL INC (EAT)
CINTAS CORP (CTAS)
LOWE'S COS INC (LOW)
JC PENNEY CO INC (JCP)
DILLARD'S INC (DDS)
KOHL'S CORP (KSS)
NRG ENERGY INC (NRG)
ESTEE LAUDER COS INC/THE (EL)

Data provided by Egan-Jones Ratings and Analytics

Comments

[dan22]

The Terrifying Protest of China's Poor- The Kindergarten Massacres

[papaswamp]

Goldman ICSC same store sales gets hammered -1.3%...this is back to school time! Maybe next week the shoppers will come out.

[Young]

Today is easy, mixed stats, then idiotrally...

[snowball777]

When have Germans been known to be optimistic about anything besides taking France?

[papaswamp]

Damn you sir!...you made me spill my tea.

[snowball777]

Dab, don't wipe.

[Young]

Hate to say I told you so... Yes I do have a crystal ball stuck up my ass...

[Hephasteus]

LOL

[seventree]

Hulu exploring an IPO at the same time they are beta testing a paid-subscription premium content plan. This is a major change to their business model, the first time the company has tried to generate revenue from viewers. If the owners really expect a successful outcome, why not let that happen before pricing an IPO? This way, it sounds like they are going for one big payday from investors in case the whole thing flops afterward.

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