Daily Highlights: 9.30.09
- Asian stocks rose for a second day, led by automakers and technology companies.
- Bank of Japan said to consider ending corporate debt purchases on recovery.
- Cash for farmers, surplus purchases in $350 million congressional dairy aid package.
- China's shares rebound from 3-day slump ahead of holiday; steel, banks, oil gain.
- Consumer confidence in US unexpectedly declines amid rising unemployment.
- EU nations to hammer out financial oversight, exit strategies in wake of G-20 summit.
- FDIC: Banks must prepay fees through 2012 to boost depleted reserves.
- Home prices in 20 US cities climb the most in four years as slump abates.
- IMF says losses from financial crisis have fallen by $600 bln to $3.4 trillion as shares rise.
- Oil rises to above $67 in Asia despite increase in US crude inventories.
- Yen falls for 2nd day on speculation government will intervene.
- Bank of America, 3 other banks' FDIC fees may total more than $10B.
- Big 5 Sporting Goods Q3 same-store sales up 1.6%.
- Boston Scientific to pay $716M to J&J for partial settlement of litigation over heart stents.
- CIT Group in midst of last-ditch bid to restructure by handing control to its bondholders.
- Daimler's Mercedes-Benz to take on 800 new employees at Brazil bus, truck plant.
- Darden posts unexpected drop in Q1 sales by 2.3% to $1.73B; profits up 15% at $94.3M.
- Deere & Co. plans to take a $300M goodwill write-down on its John Deere Landscapes unit.
- EU tells Lloyds Banking Group to relinquish 3.7M checking accounts to secure govt rescue.
- Exelon Chief shelves hunt for acquisitions as takeover prospects diminish.
- Gannett Co. sees Q3 EPS at $0.39-0.42 (cons est. $0.31), helped by lower costs.
- HP's CEO is finalizing plans to combine printer and personal-computer divisions.
- Micron Tech sharply narrowed its Q4 loss amid prior year write-downs, to $88M.
- Morgan Stanley’s mack proposes single global bank regulator.
- Nike's Q1 net rises slightly to $513M, on cost cutting measures. Revs fell 12%.
- Oracle buys HyperRoll, provider of financial reporting solutions. Terms undisclosed.
- Royal Bank of Canada to buy JP Morgan's Third Party Registered Investment Advisor.
- Sealy Corp.'s Q3 net rises 11% to $12.1M; revs down 13.7% at $349.6M.
- Thor Industries beats by $0.22, posts Q4 EPS of $0.45. Revs fell 22.6% to $440.9M.
- Wynn said to raise $1.63 billion in Hong Kong IPO.
Economic Calendar: Data on ADP Employment, GDP, Chicago PMI, Crude Inventories.
Recent Egan-Jones Rating Actions
RELIANCE STEEL & ALUMINUM CO (RS)
CALPINE CORP (CPN)
PHILLIPS-VAN HEUSEN CORP (PVH)
OXFORD INDUSTRIES INC (OXM)
POLO RALPH LAUREN CORP (RL)
MBIA INC (MBI)
CIT GROUP INC (CIT)
NEW YORK TIMES CO/THE (NYT)
GOODRICH CORP (GR)
MOOG INC (MOG)
CLEAN HARBORS INC (CLH)
ST JUDE MEDICAL INC (STJ)
COCA-COLA BOTTLING CO (COKE)