Daily Highlights: 9.1.2010

• Asian stocks rise on China manufacturing, Australia's growth; Yen weakens.
• Australian economic growth accelerates more than estimates; Currency gains.
• China's manufacturing expands at faster pace in Aug - rises to 51.7 from 51.2.
• Currency trading tops $4 trillion a day as dollar's share drops, BIS says.
• FDIC finds more than a tenth of U.S. banks - 829 - at risk.
• Pennsylvania's capital of Harrisburg to skip a $3.29M payment on its debt.
• Treasuries decline as Asian stocks advance, US to announce auction size.
• US consumer confidence rose just 2.5 points in August, to 53.5.
• ABM Industries beats by a cent, posts Q3 EPS of $0.42. Revs fell 0.2% to $869M.
• Amazon plans new subscription srvcs to deliver TV shows, movies over the Internet.
• Ambac Financial debt falls after hedge funds file motion to block payments.
• Bank of Nova Scotia's Q3 net rose 14% to $1B helped by its Canadian ops.
• Bertelsmann swings to H1 profit, lifts its outlook for 2010.
• BP selling Malaysia assets to Petronas for $363M.
• Burger King has been in talks with private-equity firms about a possible sale.
• Citigroup plans to almost triple China workforce to 12,000 in three years.
• Dean Foods gains on speculation Danone will make offer for milk processor.
• Dollar General boosts full-year EPS view to $1.68-1.74 after Q2 net jumps 51%.
• Heinz sees higher profit in Q1, driven by emerging markets.
• IPO fees hit record low in Hong Kong as JPMorgan, Deutsche Bank cut prices.
• JPMorgan is said to shut proprietary trading to comply with Volcker rule.
• Motorola Unit to be spun off with $3.5B
• Panasonic says it may miss target for 3-D sets as Samsung starts price war.
• PerkinElmer to sell illumination & detection solns unit to Veritas Capital for $500M cash.
• SEC says it declined to sue Moody's for fraud over company's CDO ratings.
• Sony to announce new music and video service to challenge Apple
• Taipei regulators halt $2.15B sale of Taiwan life insurance arm of AIG.
• Vivendi SA's Q2 net falls 3.5% to €669M despite 6.2% jump in revs.

Economic Calendar: Data on ADP Employment, Construction Spending, Auto Sales, ISM Index to be released.

Earnings Calendar: BGP, CWST, FCEL, GCO, GEF, GLBC, HNZ, HOV, OXM, PSS, SAI.

RECENT RATING ACTIONS
WILLIAMS COS INC/THE (WMB)
CENVEO INC (CVO)
DEAN FOODS CO (DF)
PRIDE INTERNATIONAL INC (PDE)
CHARLES SCHWAB CORP/THE (SCHW)
AMBAC FINANCIAL GROUP INC (ABK)
CONSOL ENERGY INC (CNX)
URS CORP (URS)
UNITED STATES STEEL CORP (X)
SAKS INC (SKS)
UNIVERSAL HEALTH SERVICES (UHS)
CORN PRODUCTS INTERNATIONAL (CPO)

Data provided by Egan-Jones

Comments

[papaswamp]

Oh SNAP!!! -10,000 ADP jobs report.

[mephisto]

In my inbox from Ben Bernanke:

The way this works is ADP is the negative of the DOW. ADP down, DOW up. Has nobody explained this to you before? Oh, sorry mate.

[Pillage]

Daily highlights.......ADP expected plus 17k.......actual -10k..........CNBC's Liesman "Pretty much flat"............no Steve, that's pretty much negative by 27K..........sheesh, imagine the cheering if it beat by 1k or beat by 27K.......and the futures a deer in the headlights.

[TraderMark]

ADP -10K
Nothing to see here, Chinese PMI was up 0.5 versus previous month... that's all that matters. Shhh!

http://www.fundmymutualfund.com/2010/09/adp-reports-10000-in-private-sec...

[dan22]

India's Housing Bubble: Anecdotes from an Indian Blogger

[-273]

FOr the German speakers:

http://www.spiegel.de/wirtschaft/soziales/0,1518,714878,00.html#ref=top

Quick google translation of the first paragraph:

Markets fail, falter democracies, Germany lost to global power: A study has analyzed a think tank of the Bundeswehr, as the declining oil production is changing the world economy. The internal military document shows for the first time how much ensures a looming energy crisis.

Hamburg - With Peak Oil energy experts understand that point of time, to the decline of global oil supply and gradually exceeds promote their zenith. A permanent supply crisis threatens - and only the fear of it can cause turbulence in commodity markets and stock exchanges.

Article about the same revelations here in English.

http://www.guardian.co.uk/business/2010/aug/22/peak-oil-department-energ...

[John123456]

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