Daily Highlights: 11/11/09
- Asian stocks, currencies rise on Japan, China economic data; gold advances.
- China's industrial production output grew 16.1% in October, its fastest pace in more than a year.
- Job openings in U.S. remain close to record-lows
- Oil prices fell $79 a barrel in Asia amid rising U.S. oil inventories and a weaker dollar
- Swiss rules to tie bonuses to profit will apply only to the nation's 12 largest banks
- Unfilled positions climb to most since June as US companies delay hiring.
- USDA trimmed its production forecast and raised its price outlook for crops.
- Adobe to cut about 680 full-time positions or about 9% of its total work force.
- AIG's CEO Robert Benmosche, after just 3 months, is ready to quit over pay constraints
- ArvinMeritor narrowed its Q4 loss to $12M as cost cuts helped offset weak auto prodn.
- Beazer Homes swung Q4 profit of $33.8M on gains from repaying debt.
- Blackstone and KKR to prepare share sale for Denmark phone company TDC.
- Bristol-Myers pays more than $1B for rights to develop, sell rheumatoid arthritis treatment developed by Alder Biopharmaceuticals.
- Crédit Agricole's Q3 net falls 21% on charge at its Greek subsidiary Emporiki.
- European Union trade regulators consider breaking up Eni Spa's gas pipeline network.
- Gazprom expects demand for the natural gas to rise in in the next 2 or at most 3 years.
- Geely develops turnaround plan for Volvo that centers on China production base.
- HSBC Holdings Plc's 3Q profit was "surprisingly ahead" of the bank's own expectations
- Logitech International SA said it would spend $405M to buy LifeSize Communications Inc.
- Macy's reports a $35M loss for Oct. compared to a $44M loss last year.
- Nortel gives potential acquirers more time to make an offer for its optical-networking unit.
- Prudential Financial Inc. increases dividend 21% to 70 cents after third straight profit
- Qatar Petroleum takes stake in Shell's petrochemical ventures in Singapore
- Singapore Telecom's Q2 net rises 10.1% on stronger operating revenue.
- Sodexo f'casts flat revenue in current fiscal, after beating f'casts with 4.5% rise in 2009.
- Tyco Intl's Q4 profit slid 53% to $205M as revs fell 16% to $4.4B.
- Westpac Banking Corp has raised A$2.5 billion ($2.3 billion) in bonds for sale
Economic Calendar: Data on Factory Orders, Auto Sales to be released.
Earnings Calendar: AAP, AMAT, BLD, CSC, FLO, ING, M, MSN, RA, XRIT.
Recent Egan-Jones Ratings Actions
CORN PRODUCTS INTERNATIONAL (CPO)
ROCKWELL AUTOMATION INC/DE (ROK)
SARA LEE CORP (SLE)
TESORO CORP/TEXAS (TSO)
AMBAC FINANCIAL GROUP INC (ABK)
MBIA INC (MBI)
FLUOR CORP (FLR)
PRICELINE.COM INC (PCLN)
UNISYS CORP (UIS)
RADIOSHACK CORP (RSH)
KRAFT FOODS INC (KFT)
APPLIED MATERIALS INC (AMAT)
NEWS CORP (NWS)
Data provided by Egan-Jones Ratings and Analytics
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