Daily Highlights: 8.27.09
- Asian markets fall on Chinese plans to curb capacity in steel, cement industries.
- China said it may curb overcapacity in the steel and cement industries.
- 'Clunkers' lifts foreign cars; Toyota comes out on top as consumers trade in vehicles.
- FDIC cuts required capital ratio to 10% for buyers of failed US lenders.
- FDIC may need to draw cash from banks or government.
- New-Home Sales in US jump 9.6% in sign economy recovering from recession.
- UK August house prices rise most since 2006: reports.
- Wall Street economists expect first-time claims for jobless benefits dipped last week.
- World trade volume climbs 2.5% in June indicating bottoming out of recession.
- Yen advances for third day as China policy concern spurs demand for safety.
- Accor SA posts H1 loss of $214M, says it may spin off services unit.
- China Telecom Corp's H1 net falls 28% to $1.23B on increased marketing spending.
- CNOOC to boost reserves; 1H net falls 55% to $1.8B, but beats estimates.
- Credit Agricole Q2 profit more than doubles to $286M, beating estimates.
- Dollar Tree's Q2 net earnings rises 51% to $56.9M, ups Y09 EPS view.
- Fortis posts H1 profit of €886M on proceeds from divestment.
- GE said to seek sale of its security unit, may fetch $2B.
- GPT Group posts H1 net loss of A$1.2B, amid steep slide in property valuations.
- Guess Inc. Q2 net rises 11% to $59.6M on strong sales in Europe, beating estimates.
- India's TCS, Wipro, Infosys sign $1.5B multiyear outsourcing contracts with BP Plc.
- J&J warns of deadly skin reactions, liver failure with HIV drug, Intelence.
- Jo-Ann Stores beats by $0.26, posts Q2 loss of $0.13/sh. Revs up 4.1% at $419.4M.
- Julius Baer, DBS, ANZ said to bid for ING Groep private banking operations.
- Lloyds may sell part of fund management unit, weighs Scottish Widows IPO.
- Opel unit isn't in imminent danger of running out of cash: GM.
- SAIC Motor Corp.'s H1 net falls 26% to $212.3M; revs up 7%.
- TiVo Inc. sues Verizon, AT&T on alleged used of its patented TV "time-warping" tech.
- Toyota recalls about 95,700 vehicles in US because of possible brake problems.
- Tribune bondholders ask judge to allow investigation of 'fraudulent' 2007 sale to Sam Zell.
- Williams-Sonoma posts surprise Q2 profit on cost cutting measures, ups Y9 EPS view.
- Woolworths' 2H profit rises 16% to $705M as government handouts boost sales.
Recent Egan-Jones Rating Actions
SINCLAIR BROADCAST GROUP INC (SBGI)
LAMAR ADVERTISING CO (LAMR)
TENET HEALTHCARE CORP (THC)
HARSCO CORP (HSC)
ISLE OF CAPRI CASINOS INC (ISLE)
MEDTRONIC INC (MDT)
COOPER INDUSTRIES LTD (CBE)
TW TELECOM INC (TWTC)
DOMINO'S PIZZA INC (DPZ)
OFFICEMAX INC (OMX)
HARMAN INTERNATIONAL (HAR)
ASHLAND INC (ASH)
NORTHEAST UTILITIES (NU)
Data provided by Egan-Jones Ratings And Analytics