Daily Highlights: 8.24.2010

• Asian stocks fall on economic growth concerns; Yen, Dollar gain.
• Coffee futures flirt with 13-year high on crop troubles.
• Greece asks EU, ECB for $8.2B loan disbursement as part of accord.
• Nikkei dips to 15-month low, with yen strength as 'usual suspect'.
• Obama may propose any federal backing of mortgages be paid for through fees on the lending industry.
• Oil falls a fifth day on concern over US supply gains, slowing recovery.
• Purchases of Existing Homes in US probably slumped in July: Survey.
• AIG repays $4B to US; ILFC finances itself.
• Chalco swung to H1 profit of $78.2M helped by higher aluminum prices.
• Consortium led by Chinese PE fund Hopu is studying whether to bid for Potash.
• Dell said to prepare sweetened 3Par bid after HP's counteroffer of $1.6B.
• Focus Media swung to Q2 profit of $25.3M as revs rose 21.8% to $171.2M.
• Foster's Group it swings to 2010 loss of $412.9M on charges related to its wine assets.
• J&J contact lenses recalled; action affects 100,000 boxes in Asia and Europe.
• Korea National says $2.9B hostile offer fully reflects Dana's value.
• Potash in talks to block BHP hostile bid; rejects miner’s offer.
• Sanderson Farms' Q3 net falls 16% to $36.1M on weak prices, hot weather.
• Standard & Poor's warned on Turkey's future creditworthiness.
• UK advertising group WPP H1 profit rose 39% to $234.2M as revenue grew 3.5%.
• Xstrata to acquire Australia's Sphere Minerals for $383M.

Economic Calendar: Data on Existing Home Sales to be released today.

Earnings Calendar: BIG, BKC, BKS, BMO, DAKT, DY, EAG, MDT, NCTY, PSUN, ULGX, WPPGY.

RECENT RATING ACTIONS
CREDIT SUISSE GROUP AG (CSGN VX)
HSBC HOLDINGS PLC (HSBA LN)
HUNTSMAN CORP (HUN)
ROYAL BANK OF SCOTLAND (RBS LN)
HORMEL FOODS CORP (HRL)
EI DU PONT DE NEMOURS & CO (DD)
HEWLETT-PACKARD CO (HPQ)
SCIENTIFIC GAMES CORP (SGMS)
CAMPBELL SOUP CO (CPB)
GOODYEAR TIRE & RUBBER (GT)
MASTEC INC (MTZ)
SANDISK CORP (SNDK)

Comments

[Shoegazer]

Tax people who lend money.   That sounds like a great idea.

[Grand Supercycle]

Updated S&P500 chart showing head and shoulders with target.

http://stockmarket618.wordpress.com

[Herry12]

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