Daily Highlights: 9.20.2010
- Abu Dhabi bonds heads for the best quarter in a year.
- Asian stocks fall on US economic growth concern; Mining shares decline.
- Crude Oil rises for first time in five days after decline draws investors.
- Euro rises to $1.3077 in European trading.
- Europe debt crisis abating as government traders see yield spreads narrow.
- FDA to consider approval of genetically engineered salmon.
- Fed to cut growth forecast, Europe rescue faltering: Pimco's El-Erian.
- French competition watchdog fines banks $503M due to price fixing.
- Gold may extend gain to record this week on economy concern: survey.
- Greek bank stress tests delayed; Athens to raise more money on capital markets.
- Home Sales in US probably rose in sign real estate market is stabilizing.
- Oil prices drifts below $74 a barrel as traders look to indicators on the U.S. economy.
- Six US banks fail as Georgia Lender Community & Southern acquires three.
- UK Home asking prices drop, erasing half of 2010 gain, Rightmove says.
- AK Steel hikes prices for certain steel products by 5-10% on higher demand.
- BHP's $45B loan facility, to fund takeover offer for Potash, oversubscribed.
- BP oil spill well effectively dead, says US.
- Constellation Energy to acquire CPower; terms were not disclosed.
- Continental Minerals to be bought by Jinchuan Group of China, for C$432M cash.
- Discover Financial to pay $600M to buy Student Loan Corp.'s ongoing business.
- FDA delays ruling on Roche's Avastin breast-cancer use.
- Greenergy is considering buying Total SA's 800 gasoline stations in UK.
- Illinois Tool Works sees Q3 operating income of $0.72-0.84/sh (cons $0.81).
- India's Sahara in exploratory talks on acquiring MGM for more than $2B.
- L-1 Identity Solns to be acquired for $12/sh ($1.09B) by Safran.
- Lennar makes money in 3Q as deliveries increase; new orders fall.
- Nicor to acquire assets of shipping business VI Cargo Srvcs. Terms undisclosed.
- New Nissan plant inaugurated in China to double capacity by 2012.
- Thor Ind buys Heartland Recreational Vehicles, maker of towable campers for $209M.
- Winsway seeks $574M in Hong Kong IPO as China's coal demand surges.
Economic Calendar: Data on NAHB Market Index to be released today.
Earnings Calendar: AHPI, DFS, GMTC, LBIX, LEN, PKE.
RECENT RATING ACTIONS
PHI INC (PHII)
CVS CAREMARK CORP (CVS)
SLM CORP (SLM)
JONES APPAREL GROUP INC (JNY)
AMERICAN TOWER CORP (AMT)
DISCOVER FINANCIAL SERVICES (DFS)
LEAP WIRELESS INTERNATIONAL (LEAP)
ORACLE CORP (ORCL)
COMERICA INC (CMA)
HERTZ GLOBAL HOLDINGS INC (HTZ)
EOG RESOURCES INC (EOG)
Data provided by Egan-Jones