Daily Highlights: 9.2.2010
- Asian stocks rise to two-week high on US manufacturing data; Canon gains.
- Australia Q2 GDP grows 1.2% - fastest pace in three years.
- Bernanke, Bair to present views of crisis to inquiry panel.
- Brazil holds rate at 10.75%, meeting expectations.
- Economy seen avoiding recession relapse as US data can't get much worse: Survey.
- Indian sugar production may jump 38% next year on higher planting, rains.
- Manufacturing in US grows at faster pace as factories extend recovery.
- Trichet may say ECB to keep emergency lending measures in place into 2011.
- Aeon Co. to join bidding for Southeast Asian assets of Carrefour SA.
- Allergan expects impairment charge of $340-350M related to its Sanctura franchise.
- Arthur J. Gallagher acquires Old Greenwich Consulting Group; terms not disclosed.
- Bank of America raises junk bond sales forecast for 2010 to $240B.
- Casella Waste beats by $0.06, posts Q1 loss of $0.11/sh. Revs up 5.5% at $139.8M.
- Costco's August same-store sales rose 7%, with net sales up 9.3% at $5.9B.
- Ford said its car sales fell 14%, and deliveries of SUVs declined 26% in August.
- Gazprom's Q1 net triples to $10.6B on 14.2% jump in revs.
- GM plans to start courting investors for its IPO after Nov. 2 midterm congressional elections.
- GM's August deliveries fell 25% YoY in the absence of “cash for clunkers” program.
- Greif reports Q3 EPS of $1.34 (cons $1.21); revs rose 28.4% to $921.3M.
- Hot Topic's August same-store sales fell 3.7% vs. cons est. of -6.2%.
- Hovnanian Entrps' Q3 loss narrows to $72.9M. Revs down 1.6% at $380.6M.
- Owens-Illinois buys Brazilian glass co for $603M; expects rev addition of ~$200M.
- Oxford Ind beats by $0.09, misses on revs; guides Q3 EPS below consensus.
- Petrobras to pay $42.5B in stock for 5B barrel oil reserve from Brazilian govt.
- Ping An to merge its bank unit into Shenzhen Development Bank. Deal est. at $4.3B.
- Sinochem hires HSBC to advise on its options over a possible bid for Potash.
- Taleo to acquire strategic partner Learn.com for ~$125M in cash.
- TXU bonds tumble as natural gas drop imperils biggest LBO.
- Walgreens to buy 18 pharmacies from Graymark Healthcare. Terms undisclosed.
Economic Calendar: Data on Initial & Continuing Claims, Factory Orders & Pending Home Sales to be released.
RECENT RATING ACTIONS
CIGNA CORP (CI)
FORD MOTOR CO (F)
SARA LEE CORP (SLE)
BORGWARNER INC (BWA)
EXIDE TECHNOLOGIES (XIDE)
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UNUM GROUP (UNM)
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ISLE OF CAPRI CASINOS INC (ISLE)
WILLIAMS COS INC/THE (WMB)
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Data provided by Egan-Jones
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