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Daily Highlights: 8.19.10
- Asia stocks rise on Applied Materials outlook; Ringgit, Taiwan Dollar gain
- Asian computer shipments signal extended consumer spending slump in US.
- China allows Ringgit to trade vs Yuan in domestic market.
- China may ban copper producers who violate environment rules for two years.
- Clinton to urge global aid for Pakistan to match Haiti response
- SEC will vote next week on rules that may make it easier to oust directors.
- Treasury 10-Year yields near 17-month low as Fed, Japanese investors buy.
- US banks receive Basel III boost, Rewrite of rules could cut in half new capital required.
- AIG sets stage for first bond sale since bailout.
- Applied Materials guides Q4 EPS, revs above consensus.
- AstraZeneca wins dismissal of Verus suit over plan to develop Asthma Drug
- Avista & Ontario Teachers Pension to buy drug researcher INC Research Inc. for $600M
- BHP's Kloppers goes hostile as Potash's Doyle fights against 'cheap' deal.
- Brocade reports in-line, Q3 EPS at $0.13 and revs rose 2.2% to $504M.
- Chico's FAS's Q2 misses est., but profit more than doubles to $30.5M. Revs up 11%.
- EMI remains in danger of defaulting on bank covenants despite several cash injections.
- GM Files for IPO a Year After U.S. Automaker Exited Bankruptcy Protection
- Gymboree beats by $0.03, guides Q3 EPS below cons on expectations of lower sales.
- Holcim's Q2 net falls 12% to $383M despite 11% rise in revs. Blames European market.
- Hot Topic misses by a cent, reports Q2 loss of $0.14/sh as revs fell 4.9% to $150M.
- J&J reorganizes manufacturing after series of recalls
- JPMorgan plan sale of commercial mortgage bonds
- Lenovo Group swung to Q1 profit of $54.86M helped by 49.6% jump in revs to $5.15B.
- Limited beats by $0.02, posts Q2 EPS of $0.36. Revs rose 8.5% to $2.24B.
- MasterCard to pay $520M for DataCash Group.
- McDonald’s becomes first foreign non-financial co. to sell yuan bonds in Hong Kong.
- Sears Holdings' revenue declined but losses improved from $94M to $39M.
- Target earnings rise 14% to $679M on pickup in credit cards, cost-cutting efforts.
Tata Motors to hire Citigroup & Credit Suisse to help raise $1B
Economic Calendar: Data on Initial & Continuing Claims, Leading Indicators to be released today.
Earnings Calendar: ARO, BCSI, BKE, BONT, CPWM, DELL, DLTR, FL, GPS, HPQ, INTU, ROST, SPLS, SSI, WSM, WTSLA.
RECENT RATING ACTIONS
STATOIL ASA (STL NO)
SOUTHWESTERN ENERGY CO (SWN)
CISCO SYSTEMS INC (CSCO)
CON-WAY INC (CNW)
BLACKROCK INC (BLK)
OMNICARE INC (OCR)
AMERICAN ELECTRIC POWER (AEP)
DEERE & CO (DE)
BHP BILLITON LTD (BHP AU)
LAS VEGAS SANDS CORP (LVS)
TARGET CORP (TGT)
WAL-MART STORES INC (WMT)
Submitted by Egan-Jones Ratings and Analytics
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"Clinton to urge global aid for Pakistan to match Haiti response"
It's the deficit, stupid!
"McDonald’s becomes first foreign non-financial co. to sell yuan bonds in Hong Kong."
Mainland is scroomed! McKungPaoPatty!
anyone has some intel on mc donalds reason for that ?
huge liquidity problem ?
Woohoo 500K jobless claims. Recovery in full force.
The Chinese have been cutting deals with many Asian commodity producers to eliminate using the dollar in transactions. This is in addition to deals cut with African and South American commodity producers. Look for India and others to follow suit.
The US scam of propping up the dollar on the backs of commodity buyers is coming to an end. When it becomes common for China and India to trade it's goods and services for large quantities of oil and food the fate of the dollar will be sealed. Look for more US sponsored coups and wars to try and stave off the inevitable. Not using dollars for trade will be considered an act of war.
Betty liu (Bloomberg) just mentioned this esteemed website with regard to the Goldman mind$%k multiple gold recommendations !
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THE NEXT LEG DOWN ...
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There are certainly a lot of details like that to take into consideration.I read and understand the entire article and I really enjoyed it to be honest.
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