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Daily Highlights: 9.23.09

Tyler Durden's picture




  • Asian stock markets were lower as a monthslong rally sputtered and investors waited
  • Dollar falls to one-year low as Fed may signal interest rates to stay low.
  • Euro close to 1-year highs against U.S. dollar
  • Fed is said to start talks with dealers on using reverse repo agreements.
  • Federal Reserve policymakers likely to leave economic supports in place
  • Home Prices in US increased 0.3% in July, less than economists estimated.
  • Early holiday sales projection points to improvement over '08: retail study.
  • H.B. Fuller Q3 net up 63% to $35.4M on lawsuit settlement gain, margins.
  • AIG shares fall by 5.4% on talk of secondary offering
  • Allianz SE to delist from NYSE, other European stock exchanges.
  • BofA, J.P. Morgan Chase to loosen overdraft policies.
  • Brazil’s govt wants Vale SA to become a major steelmaker to compete with ArcelorMittal.
  • CarMax's Q2 profit jumped to $103M from prev period's $14M. Revs up 13% at $2.1B.
  • Carnival raises Y09 EPS outlook despite 20% drop in Q3 earnings at $1.07B.
  • ConAgra's profit fell 63% to $165.9M; revs down 3.1% at $2.96B. Sees Y09 EPS at $1.70 (prev $1.63-1.66).
  • CVS, Medco may need to disclose drugmaker rebates under Health amendment.
  • Delta Air Lines Inc. plans to sell $500M of notes due 2015 in a private offering.
  • Deutsche Telekom said to be in talks with Clearwire Corp on access to airwaves.
  • Ford said to build third China factory as economic growth spurs car sales.
  • FreightCar America's Q2 net beats estimates, aided by cost cutting, improved margins.
  • HB Fuller posts 63% gain in third quarter profit
  • Geely Automobile to raise $334M in bond sale to Goldman Sachs fund.
  • GM will add a third shift to three plants to raise output, restoring 2,400 jobs.
  • Lowe's sees same-store sales rising after three years of declines.
  • PG&E Corp leaving US Chamber of Comm over opposition to federal climate change legislation.
  • Progress Software Q3 net falls 56%, gives cautious view.
  • SABMiller sees high single-digit percent growth in Asia, Africa.
  • Singapore Invt Fund cuts Citigroup stake to below 5% from over 9%, realizes $1.6B gain.
  • Suntory Hldg makes binding offer to acquire Orangina Schweppes Group; deal est. at $3.82B.
  • US Airways to sell 26.3M new shares in a public offering to be underwritten by Citigroup.
  • Venezuela threatens ConocoPhillips with lawsuit

Recent Egan-Jones Rating Actions
ARCH COAL INC (ACI)
COOPER TIRE & RUBBER CO (CTB)
CLOROX CO (CLX)
DIAMOND OFFSHORE DRILLING INC (DO)
AMERICAN INTERNATIONAL GROUP INC (AIG)
MOLSON COORS BREWING CO (TAP)
ENSCO INTERNATIONAL INC (ESV)
LOUISIANA-PACIFIC CORP (LPX)
METROPCS COMMUNICATIONS INC (PCS)
SEACOR HOLDINGS INC (CKH)
DELTA AIR LINES INC (DAL)
LENNAR CORP (LEN)
BURLINGTON NORTHERN SANTA FE CORP (BNI)

Data provided by Egan-Jones Ratings and Analytics




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Wed, 09/23/2009 - 08:50 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Same ole same old.

Wed, 09/23/2009 - 08:55 | Link to Comment Oso
Oso's picture

can anyone tell me why i keep getting a pop up box saying, "this page requires AC_run something something.js" whenever i load this site...?

Wed, 09/23/2009 - 09:03 | Link to Comment docj
docj's picture

I get that also when trying to load ZH while running 64-bit IE.  32-bit IE or FF don't give me the error.  Moderate annoyance, but I can't see anything I'm missing even with the error.

Wed, 09/23/2009 - 09:18 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I have 32 bit IE and I'm seeing the error as well.

Wed, 09/23/2009 - 09:26 | Link to Comment Anonymous
Wed, 09/23/2009 - 10:16 | Link to Comment Anonymous
Wed, 09/23/2009 - 09:02 | Link to Comment docj
docj's picture

"Federal Reserve policymakers likely to leave economic supports in place"

Yeah, can't be putting that "robust", "V-shaped", "Green Shoots!!!" recovery in peril by removing the life-support now, can we.

Fire-up those presses, lads - DXY is still above 76!!

Wed, 09/23/2009 - 10:44 | Link to Comment BobPaulson
BobPaulson's picture

Holding pretty well too. Looks like strong support. Seriously.

Wed, 09/23/2009 - 11:16 | Link to Comment docj
docj's picture

True enough, that.  Gold drifting down, DXY "rocketing" up to about 76.3 (though it just fell off a bit of a ledge) - looks like someone thinks something is gonna happen.

Wed, 09/23/2009 - 09:04 | Link to Comment MountainHawk
MountainHawk's picture

Everyone is now expected to raise expectations!

Wed, 09/23/2009 - 09:56 | Link to Comment Anonymous
Do NOT follow this link or you will be banned from the site!