Daily Highlights: 9.17.09
- Americans Back Obama's health goals even as they doubt chances for success.
- Asian stocks were higher Wednesday after Wall Street closed at its best levels for '09.
- Bank of England is still considering a reduction in the bank's deposit rate.
- Bernanke says US recession 'very likely' has ended, economy still weak.
- China shares fall on liquidity doubts.
- Credit default swaps lose disaster stigma as confidence in market rebounds.
- European new car registrations rose 2.8% in July, followed by a 3% rise in August.
- Gold, Silver rally as economic rebound fuels resurgent inflation concerns.
- German retail sales decline 1.7% as consumers opt for savings accounts.
- Greenspan says Congress may hamper Fed, adding inflation threat to bonds.
- Russia cut its key lending rates by 25 bps to 10.5% - sixth time since April.
- Actel narrows Q3 revs guidance to up 3% (prev view -2% to 4%).
- Adobe Systems to acquire Omniture for $21.50/sh cash valuing the deal at $1.8B.
- AirAsia shares decline most in 6 weeks after selling shares at 6% discount.
- Best Buy raised its forecast for annual earnings, offering hope for strong Holiday sales.
- Blockbuster Inc. may close 960 stores by the end of 2010.
- Capital One US credit-card delinquencies rise in August to 5.09% from July's 4.83%.
- Citigroup said to plot exit from FDIC debt program as deadline approaches.
- Eaton Corp. expects $1B in addln revenue over the next 2 years from stimulus program.
- Genworth Fincl sells stock at $11.75/sh, raises $564M, beats estimate.
- Harrah's bought $140M of debt tied to Planet Hollywood Resort & Casino in Las Vegas.
- Illinois Tool boosts Q3 view on better pricing; revs down 21% in Q2.
- Japan Airlines confirms it's tie-up talks with foreign carriers, to cut work force by 14%.
- Lehman says Barclays got at least a $5B windfall in brokerage deal.
- Rogers Corp sees Q3 EPS at $0.28-0.34 vs. cons. view $0.16. (prev view $0.11-0.21).
- Stanley Furniture expects Q3 operating loss to widen sequentially due to lower sales.
- SunTrust Banks: Consumer-related, construction charge-offs to increase further.
- Taiwan Mobile Co. to buy Kbro Co. from Carlyle for $1B.
- TNK-BP Hldg's 1H net profit fell by 52% to $2.29B on lower oil prices.
- Tullow, Anadarko poised to reveal a new oil field off West Africa.
- Volkswagen expects full-year vehicle sales to reach last year's level of 6.2M in 2009.
Recent Egan-Jones Rating Actions
KROGER CO/THE (KR)
CAPITAL ONE FINANCIAL CORP (COF)
HORMEL FOODS CORP (HRL)
PARKER DRILLING CO (PKD)
NOBLE CORP (NE)
CAMPBELL SOUP CO (CPB)
LUBRIZOL CORP (LZ)
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)
Data provided by Egan-Jones Ratings And Analytics