Daily Highlights: 9.15.09
- Asia currencies gain on signs recovery may spur rate increases.
- British inflation falls back to 1.6 percent amid favorable oil price comparisons.
- Car, gas sales seen boosting August retail sales, but consumers cautious.
- China shares rise for 3rd day on economic recovery hopes, led by metals.
- EU deepens investigation into Dutch govt.'s plan to buy ING bad assets.
- Dollar trades near weakest level this year on record low borrowing costs.
- Foreign direct investment in China climbed for the first time in 11 months in August.
- German investor sentiment may rise to 3-year high as economy rebounds.
- Obama is 'optimistic' US financial rules overhaul will happen this year.
- President of Federal Reserve Bank of San Francisco expects 'tepid recovery'.
- Stocks in Asia fluctuated as phone, finance stocks dropped, while mining shares gained.
- UK Housing market shows first gains since 2007: Royal Institution of Chart. Survey.
- Avaya buys Nortel business that makes phone systems for businesses for $900M.
- Brazil's Marfrig Alimentos to acquire Cargill's Brazilian business for $900M cash.
- CA Inc. to acquire privately held NetQoS Inc. for $200M cash.
- Campbell Soup's Q4 net falls 22% to $69M on trademark write-offs.
- China Investment Corp. in talks to invest $300M in a Mongolian iron-ore mine.
- Chrysler sales expected to fall sharply in Sept, as it tries to revamp its model lineup.
- Delta Air cuts fuel-cost f'cast, but expects pensions costs to rise $450M next year.
- Eli Lilly to reduce work force by ~14%, or 5,500 employees, to save $1B by 2011.
- Intuit Inc. agreed to buy personal-finance site Mint.com for $170M.
- Kraft Foods is considering formal offer for Cadbury, Chief Rosenfeld says.
- Lubrizol raises 2009 EPS view to $6.10-6.40 on better volumes, lower costs.
- Munich Re CEO: Company will resume buying back its own shares in 2009.
- Pall Corp.'s Q4 net falls 0.6% to $69.5M; revs down 9.9% to $652M.
- Sasol's full year net fell 39% to $1.81B on lower crude, chemical products prices.
- Telstra told to split into network, retail units to bolster competition.
- Tenet Healthcare raises full-year EBITDA forecast to $900-950M (prev $810-875M).
- Toys "R" Us is opening scores of temporary stores for the holidays.
- US said to explore selling 34% Citigroup stake acquired in bank rescue.
- Willis Group Holdings agrees to pay $130M to settle legal dispute with CNA Fincl Corp.
Recent Egan-Jones Rating Actions
DIRECTV GROUP INC/THE (DTV)
PRUDENTIAL FINANCIAL INC (PRU)
HERSHEY CO/THE (HSY)
MICRON TECHNOLOGY INC (MU)
HJ HEINZ CO (HNZ)
NATIONAL SEMICONDUCTOR CORP (NSM)
AMBAC FINANCIAL GROUP INC (ABK)
SPRINT NEXTEL CORP (S)
OGE ENERGY CORP (OGE)
IRON MOUNTAIN INC (IRM)
NEIMAN MARCUS GROUP INC/THE (NMG)
TYCO INTERNATIONAL LTD (TYC)
POTASH CORP OF SASKATCHEWAN INC (POT)
Data provided by Egan-Jones Ratings And Analytics