Daily Highlights: 8.4.10
- Asian shares were mostly lower Wednesday with Yen rising to a fresh 8-mt high vs USD.
- Federal Reserve Bank of NY is facing the prospect of foreclosing on a number of properties in the coming months.
- US auto sales up 5.1% in July.
- US Pending homes sales index fell 2.6% to 75.7 in June.
- ADM reported a profit jumps to $446M despite 5% decline in revs to $15.7B.
- Anadarko Petroleum's Q2 loss narrowed to $40M on 36% jump in revenues.
- Baker Hughes Inc.'s net rises 6.9%, helped by better demand and April buyout of BJ Srvcs.
- Barnes & Noble put itself on the block, as digital books erode its traditional business.
- BYD slashed its 2010 auto sales target by 25%, due to softening domestic demand.
- Coach reported a Q4 profit of $195.5M, up 34% helped by 22% rise in revs to $950.5M.
- Discovery Comm's Q2 profit falls 40% on charges related to its $3B debt refinancing.
- Electronic Arts swung to a profit of $96M in Q1 on a 27% surge in revenues.
- Emerson Electric is considering sale of its appliance and other motors divisions.
- GM's July sales rose 6.4% to 199,602 cars and light trucks. Ford's rose 3.3%.
- Marathon Oil's earnings jumped 72% helped by higher prices and margins.
- Marsh & McLennan swung to Q2 profit of $236M as revenue rose 5.5% to $2.61B.
- MasterCard's Q2 profit jumped 31%, beating analysts' expectations as revs rose 6.7%.
- MGM Resorts' Q2 loss widened to $883.5M on $1.12B in write-downs.
- Molson Coors Brewing Co.'s profit jumped 27% on earnings growth in the US.
- Och-Ziff's Q2 loss widened slightly to $89.4M, though adj results topped analysts' f'casts.
- Saudi Arabia ordered a ban on BlackBerry services starting Friday.
- SocGen's profit for June quarter rises from E309M last year to E1.08B this year.
- Tenet Healthcare swung to Q2 profit as revenue grew on higher margins, admission rates fell.
- Toyota's U.S. July sales fell 3.2% and Honda reported its sales fell 2%.
Economic Calendar: Data on ADP Employment, ISM Srvcs, Crude Inventories to be released.
Earnings Calendar: ABMD, AGYS, AMSF, AOL, ATML, AYE, CNP, CNW, DVN, EE, KGC, MUR,
RECENT RATING ACTIONS
BELO CORP (BLC)
RADIAN GROUP INC (RDN)
BOYD GAMING CORP (BYD)
CAMERON INTERNATIONAL CORP (CAM)
DAVITA INC (DVA)
DR HORTON INC (DHI)
TEXAS INDUSTRIES INC (TXI)
PHH CORP (PHH)
STANDARD PACIFIC CORP (SPF)
FIRST HORIZON NATIONAL CORP (FHN)
CELLCO PARTNERSHIP (VZW)
HEXCEL CORP (HXL)
Data provided by Egan-Jones Ratings and Analytics