Daily Highlights: 9.25.09
- Asian stocks decline on Nomura’s share sale, US housing data.
- China’s stocks fell, with Shanghai Composite set for its biggest weekly loss in 6 weeks.
- Dollar, Yen rise on speculation G-20 will act to curb riskier investments.
- Fed regulators say banks, other institutions face $53B in losses on loans.
- Freddie Mac announces $1B reopening of 2.125% three-year Reference Notes security.
- G-20 poised to crack down on bankers' pay, increase policy coordination.
- G-20 to replace G-8 as main economic forum, US official says.
- US existing-home sales slipped 2.7% in August, stumbling on its path to recovery.
- US workers filing new claims for jobless benefits declined 21,000 last week.
- New US Home Sales to jump 30% in 2010 on tax credit, rates; Goldman Sachs.
- 3Com's earnings fell 91% in the absence of a litigation gain it booked a year earlier.
- Analogic misses by $0.28, posts Q4 loss of $0.02/sh. Revs rise by 5.0% to $98.3M.
- ANZ will pay $1.6B to buy ING out of life insurance joint venture.
- ArcelorMittal is restarting production lines at its plant in Belgium, to meet rising orders.
- Credit Suisse is trying to sell a $1B claim it holds against Lehman Brothers.
- Farmers Group Inc., plans to lower premiums by charging drivers for coverage by mile.
- Gaylord Entertain prices offering of 6M shares of common stock at $21.80/sh.
- Hercules Offshore prices 17.5M public offering of common stock at $5.00/sh.
- HP forecast sales for 2010 that may miss some analysts’ estimates.
- Nomura plans to raise $5.6B via share sale to bolster its overseas operations.
- Rite Aid's Q2 loss narrowed to $116M; revs down 2.7% to $6.3B; lowers Y09 outlook.
- Royal Dutch Shell Plc is set to overtake BP Plc after about $40 billion of investment from Qatar to Brazil.
- Russia's largest car maker in terms of sales OAO AvtoVAZ to lay off 27,600 workers.
- Scholastic's Q1 loss narrowed to $23M as stimulus funds helped spur sales by 14%.
- Sony to focus on Playstation games, Vaio to end division losses: Sony Chief.
- Terra Industries announces plans for $750M special cash dividend ($7.50/sh).
- Texas Industries beats by $0.12, posts Q1 EPS of $0.06. Revs fell 28.2% to $184M.
- Twitter Inc. is nearing a deal for as much as $100M in new funding, valuing it at $1B.
- Vail Resorts Q4 loss widens to $38.7M as real-estate sales tumble.
- Unilever offers to acquire Sara Lee's Personal Care Unit for $1.88 billion.
Recent Egan-Jones Rating Actions
ABBOTT LABORATORIES (ABT)
AMERICAN GREETINGS CORP (AM)
CENVEO INC (CVO)
AUTOZONE INC (AZO)
CORN PRODUCTS INTERNATIONAL INC (CPO)
CINTAS CORP (CTAS)
INTERNATIONAL SHIPHOLDING CORP (ISH)
GENERAL MILLS INC (GIS)
ENERGEN CORP (EGN)
DENBURY RESOURCES INC (DNR)
CHESAPEAKE ENERGY CORP (CHK)
UNION PACIFIC CORP (UNP)
NORFOLK SOUTHERN CORP (NSC)
Data provided by Egan-Jones Ratings and Analytics