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Daily Highlights: Sept 24, 2009
By: Tyler Durden   Thursday, September 24, 2009 9:10 AM

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The next market session will close:

  • Crude Oil drops nearer to $68 after unexpected US supply gain.
  • EU raids cement makers, Holcim & Cemex in Spain, as part of a price-fixing probe.
  • Euro falls from one-year high versus Dollar before meeting of G-20 leaders.
  • European Commission proposed new bloc-wide regulatory bodies to supervise banks.
  • Fed highlighted signs of recovery as it left rates steady.
  • Japanese exports fell 36% in August from year ago, 11th straight decline.
  • Most Asian stock markets fall on drop in commodity prices; Japan advances.
  • Abbott emerges as strong competitor to buy pharmaceutical unit of Solvay.
  • Aiful to cut 2,000 jobs, forecasts loss of $3.4B as claims increase.
  • Areva SA received 3 offers of less than $5.9B for its transmission, distribution unit.
  • AutoZone Inc.'s Q4 net falls 3% to $236.1M; revs up 1% at $2.23B.
  • Bed Bath & Beyond Q2 profit up 14% to $135.5M as revs rise 3.3% to $1.91B.
  • CanWest Global sells its 50.1% stake in Ten Network for A$680M.
  • China Metallurgical shares decline 12% in Hong Kong on first day of trading.
  • Cintas Corp. reported Q1 EPS of $0.43, beating average analyst estimate by 9.4%.
  • Copart Q4 profit down 15% at $34.6M on lower sales, currency effects.
  • General Mills' Q1 net rises 51% to $420.6M on sales growth, lower costs; ups Y09 f'cast.
  • GMAC is using its new access to low-cost capital to compete more directly with banks.
  • Hercules Offshore f'casts Q3 sales below cons. est., offers 17.5M shares to repay debt.
  • Japan Airlines will consider a breakup of the company along with other options.
  • Marriott plans to take a Q3 pretax charge of $760M in its timeshare business.
  • Microsoft says it has 'no plans to acquire EA'.
  • Nintendo cuts Wii price by $50 to $199 for first time after reductions at Sony, Microsoft.
  • Paychex Inc. expects Y09 revenue to come in lower than previously estimated.
  • Red Hat beats est., Q2 net rises 36.9% to $28.9M; revs up 12% at $183.6M.
  • United Steelworkers, three others file antidumping petitions against China, Indonesia.
  • Xilinx sees Q2 sales at $413.9M (cons $392.5M) on rebounding demand.

Economic Calendar: Data on Initial Claims to be released today.
Earnings Calendar: ALOG, AM, CBK, COMS, FINL, MKC, RAD, RIMM, SCHL, SCS, TIBX.
Companies to watch: American Greetings, Analogic Corp, Christopher & Banks, McCormick & Co,
RIM, Rite Aid Corp, Scholastic, Steelcase, Vail Resorts.

Recent Egan-Jones Ratings Actions:
DENBURY RESOURCES INC (DNR)
CHESAPEAKE ENERGY CORP (CHK)
UNION PACIFIC CORP (UNP)
NORFOLK SOUTHERN CORP (NSC)
CONAGRA FOODS INC (CAG)
CARNIVAL CORP (CCL)
ARCH COAL INC (ACI)
COOPER TIRE & RUBBER CO (CTB)
CLOROX CO (CLX)
DIAMOND OFFSHORE DRILLING INC (DO)
AMERICAN INTERNATIONAL GROUP INC (AIG)
MOLSON COORS BREWING CO (TAP)
ENSCO INTERNATIONAL INC (ESV)

Data provided by Egan-Jones Ratings And Analytics


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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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