Daily Highlights: 8.26.09
- Asian stocks gain on strong Chinese earnings, US Consumer report.
- Euro approaches 11-week high on signs global recession abating.
- Homebuilders buy land after 3 years of selling as US demand returns.
- Oil advances before report forecast to show that U.S. inventories declined
- South Korea Consumer confidence rises to 7-year high on state spending.
- US consumer confidence, Home prices exceed f'casts in sign of recovery.
- US deficit revised to a record of nearly $1.6 trillion for fiscal year ending Sept. 30.
- US Postal Srvcs offers buyouts to thousands of employees as it faces financial losses.
- Anheuser-Busch, MillerCoors to hike beer prices in US.
- Borders Group posted a wider-than-est. Q2 loss of $45.6M; revs fall 18% to $624.7M.
- Burger King expects "soft" sales trend through Christmas; Q4 sales down 2.4%.
- Chevron's $42B gas project wins environmental approval in Australia.
- Chinese supermarket chain Times Ltd. put up for sale by its majority shareholder.
- Dycom Ind Q4 net doubles on prior-year write-down; revs slip 16% to $269.7M.
- Emerson Electric CO. order rate for 3 months ended in July falls 25%.
- Enel SpA plans to sell its high-voltage Spanish power grid, sell stake in renewable energy.
- Heineken reports $699M first-half profit, beating analyst estimates.
- ING said to seek final bids in $1.8B sale of private banking assets.
- International Rectifier swings to Q4 profit of $29.1M on gain from sale of business.
- Lindt's 1H net falls 88% to €2.7M; sales slip 5.4% to €979M.
- Medtronic's Q1 net falls 38% to $445M on charges. Sales rose 6%, beating est.
- Morgan Stanley is said to seek a sale or partnership for Van Kampen Unit
- Natixis SA says parent will guarantee $50B of the bank's riskiest assets.
- NEC Electronics, Renesas Tech to postpone agreement to merge until Sept end.
- OAO Gazprom's Q1 net falls 62% to $3.3B on foreign-exchange losses.
- PE investor Guy Hands in talks to invest up to $350M in EverPower Wind Holdings.
- Suez Environnement H1 profit declines 13% as demand for waste treatment slows.
- Swiss Life to cut 520 jobs in Switzerland after 1H net tumbles 91%.
- Terra Industries rejects CF Industries' latest bid proposal.
- Toyota to cut production capacity in Japan by 220,000 vehicles next year.
- Westfield Group swings to H1 loss of $590M; revs were down 6.0%.
Recent Egan-Jones Rating Actions
TW TELECOM INC (TWTC)
DOMINO'S PIZZA INC (DPZ)
OFFICEMAX INC (OMX)
HARMAN INTERNATIONAL (HAR)
ASHLAND INC (ASH)
NORTHEAST UTILITIES (NU)
STAPLES INC (SPLS)
SUNTRUST BANKS INC (STI)
TITAN INTERNATIONAL INC (TWI)
NEWS CORP (NWS)
TOLL BROTHERS INC (TOL)
SERVICE CORP INTERNATIONAL/US (SCI)
CELESTICA INC (CLS)
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