Daily Highlights: 8.20.2010
- Asian stocks decline, Yen strengthens on concern global growth is slowing.
- Australia's first female PM faces voter backlash at first election.
- BoJ said to be still assessing economic impact of stronger Yen.
- China shares fall on criticism of local finance vehicle.
- Euro steady above $1.28 in wake of poor US economic data.
- Oil slips below $75 in Asia as economic news renews expectations of weak crude demand.
- U.S. Budget Deficit forecast increased by CBO to $1.066 trillion for 2011.
- US jobless claims climb, Philadelphia factories slump as recovery slows.
- Aeropostale's Q2 net rose 12.9% to $43.6M helped by 9% rise in revs to $494.7M.
- Apple to shut down Quattro wireless Ad network.
- Dell's net income rose 15% to $545M as demand improved among commercial customers.
- First Niagara to acquire Connecticut’s NewAlliance Bancshares for $1.5B in cash and stock.
- Foot Locker beats by a cent, posts Q2 EPS of $0.04. Revs fell 0.3% to $1.1B.
- Gap Inc posts Q2 EPS of $0.36 (cons est. $0.35); revenues rose 2.3% to $3.32B.
- GDF Suez, AXA said among bidders for Exxon, Shell gas storage facilities in Germany.
- H-P's quarterly profit climbed 6.1%, boosted by profit growth in its PC business. Revs up 11%.
- Hormel's June profit up 11%.
- Intel agrees to purchase security software maker McAfee for $7.68B.
- Intuit beats by $0.05, revs up 17.5% at $537M. Guides Q1 EPS, revs in-line.
- Korea National is said to make hostile $2.7B bid for Dana Petroleum Plc.
- Marvell Tech sees Q3 EPS at $0.41-0.44 (cons $0.40); to buy back $500M in shares.
- Nordstrom Board of Directors authorizes $500M share repurchase program.
- Potash exploring alliances with petrochem, agri-business and Chinese sovereign banks that could fashion a competing offer.
- Salesforce.com beats by $0.02, beats on revs; guides Q3 EPS, revs above consensus.
- San Miguel said to end talks on $1B sale of Hot-Dog unit to Campos.
- Sears Hldgs' Q2 loss narrowed to $39M on lower costs. Revs were flat at $10.46B.
- Smucker's July net income up from $98M to $103M.
- Toro Co. reported 69% rise in Q3 profit at $33.4M as revs jumped 16% to $458.9M.
- Tyco International will replace Smith International in the S&P 500.
- UK pub operator Mitchells & Butlers to sell 333 pubs to PE firm TDR Capital for $582M.
Earnings Calendar: ANN, CHMP, COCO, GRO, HIBB, HRL, KIRK, SJM, VOL.
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