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.
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Data provided by Egan-Jones