- Asian stocks decline on concern at US economy, Yen strength.
- China formally starts investigating some "unfair" imports of chicken products from US.
- China Investment Corp.. to invest about $1B with Oaktree Capital Management.
- Companies indicating willingness to spend more on tech: reports.
- Consumer sentiment, new-home sales showed signs of improvement; while sales of durable goods fell.
- G-20 unites on bank rules, aligning policy as focus moves away from crisis.
- India to extend the seven month ban on sugar futures beyond December.
- U.S. commercial banks earned $5.2B trading derivatives in the second quarter.
- Abbott to pay $7.1B for pharmaceutical unit of Belgian conglomerate Solvay.
- Affiliated Computer Services to be purchased by Xerox for $6.4B.
- Barclays in talks to buy some of Citigroup Inc.'s retail-banking assets in Portugal.
- Dexia SA to cut 602 jobs; on target to save €200M in 2009.
- Fidelity National Financial sold its technology unit and will reduce debt by $200M.
- Fortis to resume 40%-50% dividend policy; capital "appropriate" for now.
- Infigen Energy plans to sell its US wind power business for $2.2B.
- KB Home's Q3 loss narrowed to $66M, aided by lower write-downs.
- Kraft poised to launch hostile 11B pound Cadbury bid: report.
- Myer Group, Australian department store chain, to raise $2.02B through an IPO.
- Novartis' new smoker's cough drug gets EU panel backing.
- Sinochem bids $2.4B for Australia's Nufarm in China's second attempt at control.
- SK Telecom to sell its 3.8% stake in China Unicom; stake sale to raise $1.28B.
- Sumitomo expects a narrower-than-expected Q2 net loss on increased orders.
- UniCredit SpA to hire Merrill, UBS, Goldman to manage a $5.9B stock sale.
Earnings Calendar: CALM, CRFT, NBG, TRR.
Companies to watch: 3Com, ArcelorMittal, AZZ Inc., Barclays PLC, Dynatronics, Fortis, Hercules Offshore, H-P, KB Home, Kraft Foods, SK Telecom.
Recent Egan-Jones Rating Actions
CHARMING SHOPPES INC (CHRS)
KNOLL INC (KNL)
BOWNE & CO INC (BNE)
KB HOME (KBH)
HOVNANIAN ENTERPRISES INC (HOV)
UNUM GROUP (UNM)
TERRA INDUSTRIES INC (TRA)
SARA LEE CORP (SLE)
ABBOTT LABORATORIES (ABT)
AMERICAN GREETINGS CORP (AM)
CENVEO INC (CVO)
AUTOZONE INC (AZO)
CORN PRODUCTS INTERNATIONAL INC (CPO)