Daily Highlights: 9.28.2010
- ADB raises Asia ex-Japan growth f'cast for this year to 8.2% vs. July view of 7.9%.
- ADB says Asia must refrain from tightening 'too quickly'.
- Asian stocks fall on European debt concerns, Metal prices drops.
- Fed weighs a more open-ended, smaller-scale bond purchase program.
- German consumer confidence f'casts 4.9 pts for Oct, a rise from rev 4.3 pts in Sept.
- AIG's Asian unit gauges demand for its Hong Kong listing; plans to raise $10-15B.
- AOL has been in talks to acquire technology blog TechCrunch.
- Buffett affirms support for China Carmaker BYD after stock fall
- China Airlines plead guilty to fixing prices on air-cargo shipments, pay $40M fine.
- Cognex raises Q3 revs guidance to $74-76M vs. $66.5M cons., up from $65-68M.
- Con Edison to issue 6.3M shares; proceeds to be invested in Cons Edison Co of NY.
- Exelon Corp. to sell $900M of debt to fund its purchase of a Deere's wind-power unit.
- Ford still expects to make a "solid profit" this year; to invest $2.37B in UK over 5 yrs.
- Honda’s August global vehicle output rises 17% to 288,084 units.
- J.P. Morgan targets FDIC funds for WaMu claims.
- Jabil Circuit beats by $0.03, posts Q4 EPS of $0.52 as revs rose 37.9% to $3.86B.
- Lloyd's of London profit drops on higher claims
- MGM Resorts seeks to list its Macau gambling JV on the Hong Kong stock market.
- Michelin plans $1.6B share sale to strengthen its credit rating.
- Morgan Stanley said to freeze hiring at investment bank for rest of year.
- NBC Universal issues $5.1B of bonds to finance sale to Comcast.
- Pfizer discontinues ph III trial evaluating its Sutent drug in combination with prednisone.
- RIM unveils PlayBook Tablet device as BlackBerry maker chases Apple's Ipad.
- Siemens predicts its Q4 profit will increase as orders climb.
- Takefuji said to prepare bankruptcy filing on cost of refunds to clients.
- Valero Energy to sell Paulsboro refinery for $360M plus working capital, inventories.
- Viacom sees “sequential growth” over the next two quarters.
- Wal-Mart makes $4.2B bid for Grocer Massmart to expand into Africa.
- Zale Corp.'s Q4 loss narrowed to $28.5M on lower costs. Revs fell 3.4% to $345M.
Economic Calendar: Data on Case-Shiller 20-city Index & Consumer Confidence to be released today.
Earnings Calendar: CNLG, HDY, LNDC, MSON, MTRX, PDEX, SMSC, VOL, WAG, ZZ.
RECENT RATING ACTIONS
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Data submitted by Egan Jones