Daily Highlights: 8.18.2010
- Asia stocks rise for fourth day, bond risk drops on US output; Yen gains.
- China doubles Korean bond holdings as Central Bank switches from US debt.
- Germany's Q2 GDP growth unlikely to continue : ZEW survey.
- US govt will likely continue to play a role in guaranteeing mortgages: Geithner.
- Vietnam devalues currency by 2.1% to boost exports as stocks approach bear market.
- Wholesale costs in the U.S. increased in July - first time in four months.
- Analog Devices earned $199.5 million up from a profit of $65.5 million yoy.
- A.P. Moller-Maersk swings to H1 profit of $2.3B as revenues rose 20%.
- BHP turns hostile with $39B Potash Corp. of Saskatchewan Inc. bid.
- BioMarin Pharma bought ZyStor Therapeutics Inc., closely held biotech co., for $115M.
- Blockbuster’s $300M notes drop to record low of 4.75 cents to a dollar.
- Bob Evans posts Q1 EPS of $0.41 (cons $0.44); revs fell 3.9% to $412.6M.
- CACI Intl reaffirms FY11 EPS view of $3.70-$3.90 (cons $3.76). Revs at $3.25-$3.40B.
- Cargill's Q4 profit more than doubled to $691M, aided by improved animal-feed sales.
- China Huaneng said to be in talks to buy 50% of InterGen for $1.2B.
- GM said to consider sale of preferred stock along with initial share sale.
- Google launches campaign to line up TV networks' support for new TV software.
- Home Depot's Q2 profit rises 6.8% to $1.19B helped by 1.8% rise in revs at $19.41B.
- Kosmos Energy called off the sale of its Ghana oil assets to Exxon Mobil Corp.
- La-Z-Boy misses by $0.08, posts Q1 EPS of $0.01. Revs flat at $263.3M.
- Life Technologies to acquire Ion Torrent for $375M in cash and stock.
- Lilly halted the development of Alzheimer's disease treatment semagacestat.
- Mazda will recall 215,000 vehicles sold in the US.
- Michael Dell fails to get re-election votes as Director from 25% of shareholders.
- Newmont considers IPO for 10% of Indonesia unit.
- Sallie Mae plans to issue $760.4M of bonds backed by student loans.
- Vestas Wind Sys swings to Q2 loss of €119M, as revs fall fell 17%. Cuts 2010 outlook.
- Windstream to acquire Q-Comm, closely held fiber-optic network operator, for $515M.
Economic Calendar: Data on Crude Inventories to be released today.
Earnings Calendar: AFCE, AMAT, BJ, BLD, BRCD, CHS, DE, EV, GYMB, HOTT, LTD, NTAP, PETM, TGT.
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Data provided by Egan-Jones Ratings and Analytics