- Asian stocks decline on lower China earnings, strengthening yen.
- China's stock markets fell sharply as upcoming share offering spurred concerns over increased supply.
- Chinese govt to cut frequency of fuel price adjustments to support the economy.
- Democratic Party of Japan sweeps to power, ending LDP's half-century reign.
- Economists split over whether Fed's infusion of credit will spur inflation.
- Germany to offer businesses addln €10B in govt-backed loans to ease credit crunch.
- India's first-quarter GDP grows 6.1%, accelerating for first time since 2007.
- Japan's industrial prodn index rose seasonally adjusted 1.9% on month in July.
- Jimena develops into a dangerous Category 4 storm off Mexico's Pacific coast.
- Oil prices fell to near $72 as investors question US economic recovery.
- UK economy shrank 0.7% in Q2, slightly less than initially reported.
- US August auto-sales rate may be highest since April 2008 on 'Clunkers'.
- ANZ sees bad debt cycle peaking in Australia.
- Apple Inc. may sell more than 3M iPhones in China during the next year.
- AstraZeneca's Brilinta cuts heart attack, death more than Sanofi's Plavix: study.
- Baker Hughes buys BJ Services for $5.2B in cash and stock.
- Bertelsmann AG posted H1 loss of €368M on restructuring, impairments charges.
- Carrefour SA posted H1 loss of €58M on a 1.8% drop in sales at €2.7B.
- China Merchants Bank's H1 net falls 38%, to raise $3.22B via rights issue.
- GM announces a new joint venture in China to make light-duty trucks.
- Huntsman Corp. has agreed to purchase Tronox Inc. for $415M.
- Intel ups Q3 revenue f'casts to $8.8-9.2B, cites stronger-than-expected PC demand.
- Intesa Sanpaolo's Q2 net falls 62% to $736.6M amid higher provisions.
- Metallurgical Corp. of China to raise about $2.3B via an IPO.
- Pacer International enters into amended and restated credit agreement.
- PetroChina plans to boost capacity by acquiring $3.22B worth of assets from CNPC.
- Tiffany & Co. said sales trends in August are meeting its expectations.
Economic Calendar: Data on Chicago PMI to be released today.
Earnings Calendar: ALOY, BNHNA, CFI, CMM, SINA.
Companies to watch: Apple, AstraZeneca, Culp, GM, Pacer Intl.
Recent Egan-Jones Rating Actions:
AMERICAN TOWER CORP (AMT)
UNITED PARCEL SERVICE INC (UPS)
PNM RESOURCES INC (PNM)
OWENS-ILLINOIS INC (OI)
WHIRLPOOL CORP (WHR)
TRANSOCEAN LTD (RIG)
CROWN HOLDINGS INC (CCK)
STANLEY WORKS/THE (SWK)
SNAP-ON INC (SNA)
GREAT ATLANTIC & PACIFIC TEA CO (GAP)
SAFEWAY INC (SWY)
JC PENNEY CO INC (JCP)
TOLL BROTHERS INC (TOL)
Data provided by Egan-Jones Ratings and Analytics