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Daily Highlights: 8.3.10

Courtesy of Tyler Durden

  • Asian stocks rose, with MSCI at a 3-mt high, on lower corporate default risks.
  • Australia Central Bank keeps key interest rate at 4.5% as inflation cools.
  • China’s worst floods since 1998 to cut farm output, lift price.
  • EU raided offices of companies manufacturing Polyurethane foam in a cartel probe.
  • Euro-Zone PPI rises 0.3% – less than expected.
  • Fed likely to pass on more stimulus amid signs economy weak: Bernanke.
  • Japanese stocks climb on US manufacturing data; Trading companies gain.
  • Pending sales of existing US homes probably rose in June.
  • 4.9M barrels leaked into GoM from the broken well operated by BP, government agency.
  • Blackstone to buy mall in Hawaii, stake in warehouse venture with ProLogis for $859M.
  • BMW’s net earnings up to $1.1B in 2Q.
  • Boeing to lose $271M in govt payments as it violated federal accounting rules.
  • Deutsche Post increased its 2010 operating profit f’cast to €1.9-2.1B.
  • Dow’s June net rises from a $486M loss to $651M.
  • Dr.Horton’s June net income up from a $142M loss to $51M.
  • Embraer Q2 US GAAP profit climbs to $70.3M; sees FY2010 revs at $5.25B.
  • Forest Oil Corp.’s Q2 profit declined 10% on lower prices for natural gas. Revs up 14%.
  • General Cable misses by $0.06, misses on revs. Posts Q2 EPS of $0.54; revs up 6.7%.
  • Hologic’s Q3 profit fell 11% on acquisition and other charges. Revs up 4.4% at $420.7M.
  • HP announces settlement with DoJ; sees a negative impact of $0.02-0.03/sh in Q3.
  • HSBC Hldgs H1 profits doubled to $6.8B as loan loss provisions fell.
  • Humana’s Q2 profit rose 21% to $340.1M helped by 10% rise in revs at $8.65B.
  • Kaiser Alum beats by $0.32, reports Q2 EPS of $0.71. Revs rose 21.7% to $282.4M.
  • NRG Energy’s net fell 51% amid absence of year-ago’s hedging gains and asset sales.
  • NYSE Euronext posts 2Q $184M net profit versus $182M loss.
  • Sanofi-Aventis in friendly takeover talks with Genzyme, values it a t$69 a share.
  • Toyota knew in 2003 of sudden acceleration risk, Lawyers say in new filing.
  • Wapiti Oil & Gas buys oil and gas properties from Delta Petroleum for $130M.
  • Xstrata’s H1 profit more than tripled to $2.29B as revs grew 43% to $13.61B.

Economic Calendar: Data on Personal Income & Spending, Factory Orders, Pending Home Sales,

Earnings Calendar: ACF, ADM, AKRX, APC, ARM, BHI, BYD, CLX, CNO, COH, DF, DUK, GAM, JAH, LEA, PBI, PFE, PG, PH, SRE, TAP, THC, USU, Y.

RECENT RATING ACTIONS
FIRST HORIZON NATIONAL CORP (FHN)
CELLCO PARTNERSHIP (VZW)
HEXCEL CORP (HXL)
BRUNSWICK CORP/DE (BC)
PINNACLE ENTERTAINMENT INC (PNK)
CHARLES RIVER LABORATORIES (CRL)
REVLON INC (REV)
FORTUNE BRANDS INC (FO)
AVON PRODUCTS INC (AVP)
EXPEDIA INC (EXPE)
LOUISIANA-PACIFIC CORP (LPX)
EASTMAN CHEMICAL CO (EMN)

Data proided by Egan-Jones Ratings and Analytics


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