Daily Highlights: 9.9.2010

• Afghan president's brother made $800K in Dubai using loan tied to Kabul Bank.
• Asia stocks up, SKorea unexpectedly leaves key rate at 2.25% as recovery slows.
• Australian employers' hiring for August exceeds estimates; Currency gains.
• BOE mulls 'second wave' of bond buying as rebound ebbs.
• China trade surplus may top $20B, stoking tension over yuan policy.
• China's stocks decline most in 2 weeks on concern about new property curbs.
• Euro slides to $1.2693.
• Norway buys Greek debt as sovereign wealth fund sees no default.
• Oil inventories fall 7.3 million barrels API says.
• Oil hovers near $75 in Asia after US crude supplies drop.
• Space available for lease at US local retail centers to decline next year for the first time since 2005 as consumer spending rises: CB Richard Ellis Group.
• Treasuries rise as Japan stocks pare gains, Fed prepares to buy debt today.
• US falls to 4th place in competitiveness ranking behind Switzerland, Sweden and Singapore.
• 7-Eleven Inc. has offered $40/sh (~$2B) to buy Casey's General Stores Inc.
• Apple eats into Nintendo, Sony's console sales as iPhone plays to gamers.
• BP report pins most of blame for the Deepwater Horizon fiasco on others.
• Goldman hit with a $31M UK fine as part of the investigation by the regulator.
• HP issues $3B of bonds in three-part debt offering.
• Indian court dismisses Vodafone Group's challenge of $2B tax claim.
• Men's Wearhouse's Q2 profit rises 7.6% to $42.5M on 2% rise in revs at $537M.
• National Australia Bank's Axa bid is blocked by regulator for second time.
• Santos Ltd. sells 15% of a proposed LNG JV to Total S.A. for $596M.
• Shanda Games to acquire Eyedentity Games; deal est. at $95M in cash.
• Talbots swings to Q2 profit of $0.9M, but sales disappoints. Revs down 1.3%.
• TNS Inc. to buy pvt owned Cequint for $112.5M; to buy back up to $50M of its stock.

Economic Calendar: Data on Initial & Continuing Claims, Trade Balance to be released.

Earnings Calendar: CHP, GAME, KFY, NOBH, NSM, PNY, STEI, SWHC.

RECENT RATING ACTIONS
HUNTINGTON BANCSHARES (HBAN)
MGM RESORTS INTERNATIONAL (MGM)
ABBOTT LABORATORIES (ABT)
NAVISTAR INTERNATIONAL CORP (NAV)
NASH FINCH CO (NAFC)
WESTERN UNION CO/THE (WU)
NEW YORK TIMES CO/THE (NYT)
DR PEPPER SNAPPLE GROUP INC (DPS)
BECKMAN COULTER INC (BEC)
SOUTHWEST AIRLINES CO (LUV)
DELL INC (DELL)
ENTERPRISE PRODUCTS (EPD)

Data provided by Egan Jones

Comments

[Grand Supercycle]

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[Herry12]

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