Daily Highlights: Sept 3, 2009
- Asian stocks gain on Gold, Alcoa forecast; Honda drops on strong Yen.
- China to buy around $50B in notes denominated in the IMF's quasi-currency.
- China's stocks rise most in six months
- Employment in the US private sector falls by 298000 in August
- European Central Bank will leave interest rates at a record low to nurture recovery
- European equities were seen falling for a fourth straight session
- Factory Orders rise less than forecast on drop in non-durables.
- Fed tries to prepare investors for end to purchases of mortgage securities
- Oil rises along with equities after U.S. gasoline supply drops
- Private-sector jobs in the U.S. fell 298,000 in August: ADP.
- Yen falls as gains in Asian stocks encourage demand for yield.
- Alcoa Inc. said Chinese demand for aluminum will increase by 4% this year.
- Berkshire enters deal with Capmark Financials as lender weighs bankruptcy.
- Boeing Co. and the U.S. to win case at WTO over $15B in European aid to Airbus SAS
- Brazilian beef giant JBS is negotiating a $2.5B deal for Pilgrim's Pride.
- Brown-Forman Q1 net rises 38% to $121.4M amid cost cuts. Revs dip 6% to $737.9M.
- China Resources Entrps H1 net falls 22% to $150M as exports slump.
- Costco Wholesale Corp. reported a smaller-than-expected 2% fall
- Credit Suisse Group to make acquisitions to expand its private-banking biz.
- Dainippon Sumitomo Pharma to buy Sepracor for $2.6B, adding US sales force.
- GM said its sales growth in China should exceed 40% this year.
- GM said to still consider option of keeping Opel unit amid German talks.
- Hovnanian Entrps posted a narrower Q3 loss of $168.9M on lower write-downs.
- Pernod Ricard's full year profit rose 13% to $1.35B on Absolut acquisition.
- Pfizer will pay $2.3B to settle investigation into illegal marketing of medicines.
- Sony’s Walkman outsells Ipod for first time in 4 years in Japan.
- Southwest Airlines introduced a priority-boarding fee, as it struggles to stay profitable.
- Thermo Fisher Scientific Inc. will buy BRAHMS AG for EUR330 million.
- US retail unit of Samsonite Corp. has filed for bankruptcy-court protection.
- YouTube said to be in film-rental talks with Sony, Lions Gate.
Economic Calendar: Data on Initial Claims, ISM Services to be released today.
Recent Egan-Jones Ratings Actions:
AMERICREDIT CORP (ACF)
SEPRACOR INC (SEPR)
LEAP WIRELESS INTERNATIONAL INC (LEAP)
CA INC (CA)
DANAHER CORP (DHR)
EQT CORP (EQT)
CROWN CASTLE INTERNATIONAL CORP (CCI)
PENTAIR INC (PNR)
FLOWSERVE CORP (FLS)
INTERNATIONAL LEASE FINANCE CORP (ILFC)
PLAINS ALL AMERICAN PIPELINE LP (PAA)
APACHE CORP (APA)
AMERICAN FINANCIAL GROUP INC/OH (AFG)
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