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Daily Highlights: 9.8.2010

Tyler Durden's picture




 
  • Asian stock markets were mostly lower, with financial stocks getting hit.
  • Asian stock markets were mostly lower, with financial stocks getting hit.
  • California Property Tax Values shrink 1.8% in `Historic' slump and deflation
  • California regulators seek up to $9.9B in fines from PacifiCare
  • China adds $7B of Japanese bonds, extending record yearly increase.
  • EU probes hidden Greek deals as 400% yield gap shows doubt
  • Germany's exports fell 1.5% in July - the second time this year.
  • Japan talks up intervention as Yen hits 15-year high.
  • Japan's core machinery orders spike 8.8% in July; current account surplus beats est.
  • Obama to push business tax breaks; Plans for $200B in investment write-offs.
  • Spending on newspaper ads across US declined 5.6% in the second quarter.
  • Wall Street firms to cut 80,000 Jobs in 18 Months
  • Yen tests Tokyo's resolve; currency sets new 15-yr high against the U.S. dollar.
  • Altera raises Q3 revenue outlook; sees revs to grow by 10-14% from Q2 levels.
  • AngioDynamics sees surprise fall in Q1 profit; sees EPS at $0.07-$0.08 (cons $0.10).
  • Bristol-Myers to acquire biotechnology partner ZymoGenetics Inc. for $885M.
  • Foster’s Group rejected an offer worth $2.5B for its wine unit.
  • H-P sued to block Mark Hurd from joining Oracle; cites trade secret violations.
  • National Bank of Greece to raise $3.6B in capital.
  • Nokia to showcase N8 in bid to close gap with Apple and Android
  • Novo Nordisk agrees to sell ZymoGenetics stake for DKK1.1 B
  • Pep Boys' Q2 net rises 38% on better margins; revs up 3% at $504.9M.
  • Philips-Van Heusen posts Q2 loss of $54.6M on restructuring, acquisition related costs. Revenue more than doubled to $1.1B.
  • Rio Tinto reportedly cuts iron ore price by 13% for Japanese steel makers during Q4.
  • Sinochem in talks with Temasek on Potash bid.
  • Unilever expected to announce investment in Solazyme, developer of oil from algae.
  • Vodafone to sell its 3.2% stake in China Mobile; to fetch $6.58B.

Economic Calendar: Data on Crude Inventories, Fed's Beige Book & Consumer Credit to be released today.

Earnings Calendar: CHMP, CIEN, JTX, MW, NAV, PBY, SFD, SHFL, TLB, UNFI.

RECENT RATING ACTIONS

BECKMAN COULTER INC (BEC)
SOUTHWEST AIRLINES CO (LUV)
DELL INC (DELL)
ENTERPRISE PRODUCTS (EPD)
HARTFORD FINANCIAL SERVICES (HIG)
BROWN-FORMAN CORP (BF/A)
BROWN SHOE CO INC (BWS)
MASSEY ENERGY CO (MEE)
FMC CORP (FMC)
COOPER COS INC/THE (COO)
WYNDHAM WORLDWIDE CORP (WYN)
H&R BLOCK INC (HRB)

Data from Egan-Jones

 

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Wed, 09/08/2010 - 07:51 | 569066 Azannoth
Azannoth's picture

"California regulators seek up to $9.9B in fines from PacifiCare"

 - they are gettin desperate in pluggin their budget hole

Thu, 09/09/2010 - 03:08 | 571233 qrs521
qrs521's picture

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Wed, 09/08/2010 - 08:33 | 569073 RichyRoo
RichyRoo's picture

OT but apparently a representative of China has told Austrlian leaders that China wont be buying any more UST...

http://www.businessspectator.com.au/bs.nsf/Article/Chinas-Hayman-declara...

Theres a whole lot of articles from the 'Hayman Leadership Conference' held in late August.

Not sure how seriously it should be taken, but Robert Gottlibsen is one of our (Australia's) more respected journo's and occasionally even has a clue.

Wed, 09/08/2010 - 08:39 | 569124 shc
shc's picture

did you know that Asian stock markets were mostly lower, with financial stocks getting hit.....oh, and that Asian stock markets were mostly lower, with financial stocks getting hit? :P

Tue, 09/28/2010 - 04:00 | 609391 Herry12
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