Daily Highlights: 9.4.09
- Unemployment rate: 9.7%, higher than the expected 9.5%.
- Asian stock markets were mostly higher Friday, with mining stocks rising.
- Fed’s Fisher says prolonged period of 'sluggish' economy likely.
- Global economy is emerging from its deep slump faster than forecast: OECD.
- ISM non-manufacturing index rises to 48.4, indicating continued contraction.
- Lead surges to 16-month high after China vows to clean up metals industry.
- Mortgage rates for 30-yr fixed US home loans fell this week to 5.08%: Freddie Mac.
- Natural Gas may plunge from 7-year low to less than $2, options show.
- Retailers reported August sales declined 2.9%, but customer visits rose.
- Barclays said to repackage top-rated bonds from $1B downgraded CDO.
- Becton, Dickinson gets $52 million government contract for flu-shot supplies.
- Boeing gets $102.3 million Air Force deal for logistics on aerial refueling tankers.
- Cisco, EMC Corp. in talks to form a new JV to provide technology services.
- Citigroup gets shareholder approval of increase in authorized common shares.
- Costco Wholesale, BJ's Wholesale Club posted unexpected increases in Aug sales.
- Credit Suisse in talks to acquire Chicago's Mesirow unit with $11B in assets.
- CVC-led consortium hikes offer for National Express by 11%, valuing it at $1.25B.
- Elan-J&J deal breaches Tysabri pact, Judge rules.
- George Forrest claims $150M from Forsys after takeover talks failed.
- H&R Block's July net loss was $133M last year and $134M this year.
- J.C. Penney's same-store sales in August fell 7.9% (cons. est. -6.7%).
- Lloyds Banking considering giving away UK govt asset-guarantee program, raise capital.
- Oracle's $7.4B purchase of Sun is put on hold by EU antitrust probe.
- Quiksilver's earnings drop 53% to $1.3M amid tough retail environment.
- RBS, Lloyds reduce lending even as UK's Treasury presses for increase.
- Rite Aid's August same-store sales dipped 1.9% vs. cons est. of -0.6%.
- Ross Stores' August same-store sales beat estimates, rises 6%.
- Saks Inc.'s August same-store sales fell by 19.6% vs. cons. est. of -14.1%.
- Sprint Nextel to sell its first phone running Google's Android software next month.
- Sumitomo Mitsui in talks to end a brokerage venture with Daiwa Securities Group.
- Toshiba Corp plans to bid for French nuclear group Areva's power distribution
Recent Egan-Jones Rating Actions
MANITOWOC CO INC/THE (MTW)
CHIQUITA BRANDS INTERNATIONAL INC (CQB)
DEL MONTE FOODS CO (DLM)
MASTEC INC (MTZ)
CIENA CORP (CIEN)
SPX CORP (SPW)
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THERMO FISHER SCIENTIFIC INC (TMO)
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