Daily Highlights: 9.17.2010

• Asian stocks gain as Oracle, RIM earnings boost tech stocks.
• BoJ facing pressure to do even more to prop up the economy.
• China approves 4 Taiwan banks to set up mainland branches.
• European governments approved a free trade agreement with South Korea.
• International Monetary Fund hasn't ruled out putting together more aid for Greece.
• Oil rises above $75 in Asia as traders look for demand clues from US economic data.
• U.S. jobless claims declined last week to their lowest level in two months.
• Yen trades near five-week low as global recovery signs sap refuge demand.
• Cathay Pacific to buy 30 A350-900 planes from EADS for a basic price of ~$7.8B.
• CVC Capital to buy Danish TDC AS's Swiss operation, called Sunrise, for about $3.3B.
• Dell plans second major China operations center in Chengdu.
• FedEx doubles quarterly profit, plans job cuts. Issues softer-than-expected Q2 f'cast.
• Herman Miller misses by $0.03, posts Q1 EPS of $0.23 as revs rose 17.5% to $380.7M.
• Icahn said to buy Blockbuster bonds in bid to take control in bankruptcy.
• J&J in talks to buy Dutch biotechnology company Crucell for $2.29B.
• LifePoint tumbles after buyout talk subsides; announces $150M of share repurchases.
• Massey Energy now expects to report a Q3 operating loss vs. cons view of +$0.36.
• Oracle sees Q2 revs up between 38-43%; new soft license revs up 6-16%.
• Oracle's Q1 profit jumped 20%, helped by the addition of hardware sales from Sun.
• Pier 1 Imports swings to Q2 profit of $14.4M on fewer markdowns. Revs up 8%.
• RBS said to reach deal to form Chinese securities firm with local partner.
• RIM posts 67.4% jump in Q2 profit at $797M as revs rise 31% to $4.62B.
• Stan Chart mulls moving from UK to avoid increasing burden of regulations, taxes.
• Denmark's TDC sells Swiss mobile operator Sunrise to private equity group CVC for $3.2B.
• Johnson & Johnson in talks to buy Dutch biotech firm Crucell for $2.3B in cash.
• Reliance said to consider buying stake in Chesapeake's Eagle Ford assets.
• Sharp president calls for more government action to contain strong yen, protect exporters.
• Texas Instruments boosts quarterly dividend, adds $7.5B to buybacks.

Economic Calendar: Data on CPI, Mich Sentiment to be released today.

Earnings Calendar: MTRX, OMNI, PDEX, TPCG.

RECENT RATING ACTIONS

COMERICA INC (CMA)
HERTZ GLOBAL HOLDINGS INC (HTZ)
EOG RESOURCES INC (EOG)
FEDEX CORP (FDX)
AAR CORP (AIR)
TOYS R US INC/OLD (TOY)
GAMESTOP CORP (GME)
NUCOR CORP (NUE)
SUPERIOR ENERGY SERVICES (SPN)
KROGER CO/THE (KR)
CINCINNATI BELL INC (CBB)

Data provided by Egan-Jones

Comments

[99er]

China approves 4 Taiwan banks to set up mainland branches.

Once currency, two systems.

[Bankster T Cubed]

timmah G, Brian S, Jamie D, Lloyd B 4-way suck marathon continues.  Will it ever end?

yes.

at zero

[Herry12]

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