Daily Highlights: 9.24.2010

• Asian stocks fall for third day on global economic concern.
• Bank of Japan mum on intervention talk after yen's sudden drop against dollar.
• China's control of a key minerals market has US military thinkers, policy makers worried.
• Democrats abandoned plans to vote before Election Day on extending Bush-era tax cuts.
• Euro weaker at $1.3317; dollar up to 84.72 versus yen.
• German business confidence improves modestly in September; highest since June 2007.
• Oil floats near $75 in Asia; mixed US economic data suggest weak crude demand.
• Travel bug bites again in US; Airlines, hotels, car-rental - even National Parks- see business rise.
• US banks launched "second look" programs to review rejected loan applications.
• US Existing Home Sales rose 7.6% in August, bouncing off a record low.
• Adecco reiterates upbeat Q3 rev f'cast; sales for July & August rises ~16% on organic basis.
• AMD warned that it will report lower revenue for Q3 on signs of softening consumer demand.
• AmerisourceBergen authorized a new $500M share repurchase program.
• Blockbuster Inc. filed for bankruptcy protection; plans to close 500-800 addiln stores.
• Bristol-Myers Squibb plans to reduce its work force by about 3% in the next six months.
• CFS Retail to pay $473M to acquire four shopping malls owned by Direct Factory.
• Comtech Telecom misses by $0.15, posts Q4 EPS of $0.43. Revs jump 110.7% to $257M.
• Finish Line reported Q2 EPS of $0.31 (cons $0.36); revs rose 0.8% to $301.1M (cons $316M).
• GM IPO target said to be reduced to $8-10B.
• HSBC's CEO to leave after losing bid to chairmanship.
• McDonald's boosted its quarterly dividend by 11%, to $0.61/sh.
• Nike beat est., Q1 net rises 9% to $559M as revs rise 7.8% to $5.18B.
• Olam holding initial merger talks with Louis Dreyfus.
• Oracle Japan falls most in two years after cutting net income forecast.
• Rio to invest $230M to expand Pilbara iron ore capacity.
• Rite Aid's Q2 loss widens to $197M. Revs slip 2.5% to $6.16B on store closures, fewer prescription sales
• The New York Times Co. expects to post a loss in Q3 as revs set to decline by 2-3%.
• TIBCO Software acquires OpenSpirit Corporation; financial terms undisclosed.
• Verizon CEO expects to introduce tiered data pricing in the coming months.

Economic Calendar: Data on Durable Orders, New Home Sales to be released.

Earnings Calendar: AMN, EVI, GMTC, KBH, MTRX.

RECENT RATING ACTIONS
BUNGE LTD (BG)
RITE AID CORP (RAD)
GENERAL MILLS INC (GIS)
AIRTRAN HOLDINGS INC (AAI)
AUTOZONE INC (AZO)
EXCO RESOURCES INC (XCO)
TD AMERITRADE HOLDING CORP (AMTD)
EQUIFAX INC (EFX)
METLIFE INC (MET)
DARDEN RESTAURANTS INC (DRI)
KRAFT FOODS INC (KFT)

Data provided by Egan-Jones

Comments

[CL1]

In the evening ceremony chanel bags,chanel handbags sale as the first high-level chanel designer handbags custom Chinese star chanel bags prices uk XuQing alone in Paris – 2010 Shanghai chanel bags online uk,chanel bags uk online shopping early series dress coach outlet as ceremony. coach outlet store is Karl Lagrange coach outlet online the anfield fantasy coach outlet 2010 is 30-40 in Shanghai outlet 2010 coach handbags,coach handbags oulet China’s amorous feelings chanel 2.55 handbags,chanel handbags black different dress.