Daily Highlights: 10.4.2010

  • Asian stock mostly higher on Monday with investors inspired by US gains on Friday.
  • China: Will continue to buy Greek govt debt when the country reintroduces open sale.
  • Dubai's Cityscape realty exhibition to start Monday amid oversupply fears.
  • Europe put on terror raid alert; US & UK issue warnings to public and travellers.
  • Greece's 2011 budget seeks reduction in deficit, return to bond markets.
  • Silver advances to $22.21, highest level since 1980, on investor demand.
  • Wen says China to boost local demand, maintain holdings of European bonds.
  • World stocks mixed amid higher commodity prices, strong data out of China.
  • AIG forced to lower Asia unit’s valuation; move secures pledge from Kuwaiti fund.
  • AIG in talks to sell India AMC unit, hires BoA Merrill.
  • AT&T to pay $300M to IRS to settle disagreement regarding its 2008 tax return.
  • Burger King Hldgs to sell $800M of 8-yr notes.
  • DaVita Inc. to sell $1.45B of Sr notes for refinancing existing debt.
  • Dynamex to be acquired by Greenbriar Equity Group LLC for $21.25/sh cash.
  • GM lowers sights on flotation; expected size cut from $12B to about $8B.
  • GM to seek out partnerships with other auto makers with an aim to cut costs.
  • JFE Steel: World steel output to plateau mid-decade.
  • New York Times Co. plans to pay back a $250M loan from Carlos Slim.
  • Prudential Financial Inc. said it entered into a term loan of as much as $3B.
  • Sanofi-Aventis begins a $18.5B hostile takeover offer for Genzyme Corp.
  • Sinopec buys 40% stake in Repsol Brazil for $7.1B.
  • UBS, Credit Suisse need to hold almost double the capital required under Basel III rules.
  • UPS Freight announces a general rate increase averaging 5.9%.
  • Verizon to issue refunds to 15M customers over next 2 months for errant charges.
  • Visa, MasterCard close to settling a Justice Dept antitrust probe over credit-card acceptance rules.
  • Visteon exits bankruptcy with a bit more than a fifth of its prev debt load.

Economic Calendar: Data on Factory Orders, Pending Home Sales to be released today.

Earnings Calendar: ADX, BSET, CMN, EMMS, MOS, SMIT, STRZ, SYMS.

RECENT RATING ACTIONS
SPAIN (1841z SM)
INTERNATIONAL BUSINESS (IBM)
BP PLC (BP)
SIRIUS XM RADIO INC (SIRI)
DAVITA INC (DVA)
COEUR D'ALENE MINES CORP (CDE)
AVIS BUDGET GROUP INC (CAR)
HERTZ GLOBAL HOLDINGS INC (HTZ)
BARRICK GOLD CORP (ABX)
TEEKAY TANKERS LTD (TNK)
MANITOWOC CO INC/THE (MTW)
SEALED AIR CORP (SEE)

Data provided by Egan-Jones

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