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Friday, March 29, 2024

Daily Highlights: 8.14.09

Courtesy of Tyler Durden

  • Asian stocks gain on speculation improving earnings will extend a 5-month rally in equities.
  • China may boost spending on oil, mining acquisitions by half this year.
  • Crude Oil rises a third day as economic recovery to spur demand for fuels.
  • Hong Kong’s yearlong recession may be over as China rebound bolsters trade.
  • India may spark $39B of share sales with cap on controlling stakes.
  • Japanese demand for services unexpectedly rose in June on stimulus measures.
  • US Industrial output probably rebounded in July as auto plants reopened.
  • Yen rises on speculation Japan’s investors bringing back overseas earnings.
  • American Apparel Q2 profit down 34%; Co cuts FY outlook.
  • Autodesk Q2 net drops 88% to $10.5M on lower sales, restructuring charges.
  • Blockbuster’s Q2 loss narrowed to $39.7M on higher margins; revs slip 22% to $1.02B.
  • Boeing halted work at fuselage assembly plant working on Dreamliner aircraft.
  • US Judge allows Chrysler creditors to sue Daimler.
  • Elizabeth Arden Q4 loss narrows; FY10 EPS view disappoints.
  • Estée Lauder Cos. posted Q4 loss of $17.9M as revs fell 16% to $1.68B.
  • Ford boosts Q3 production to 495,000 to meet ‘Clunker’ demand.
  • IBM goes after 1 trillion in global stimulus spending by pitching cloud-computer projectsfor health care and energy.
  • LVMH buys 50% stakes in French winemakers Cheval Blanc, SAS La Tour du Pin.
  • Leighton Hldgs, Australia’s largest construction company, Y09 net fell 28% on writedowns.
  • Old Mutual may pump as much as $300M into US life-insurance unit.
  • Porsche shares surged over 10% after Volkswagen agreed to buy a 42% stake inits core sports car business as the precursor to a full merger in 2011.
  • Republic Airways is set to acquire discount carrier Frontier Airlines.
  • Sony, Nintendo lead drop in US console sales, adding to pricing pressure.
  • Thomas Cook Group’s 9-month loss widened; warns it will FY10 profit target.
  • Ticketmaster Q2 net falls 70% on merger expenses, lower ticket sales.
  • Urban Outfitters’ Q2 net fell 14% – beats est., revs up 1% at $458.6M.
  • Volkswagen to pay $4.7B for Porsche auto stake in prelude to merger in 2011.
  • Wal-Mart reports flat earnings on cost cutting; sales down 1.4% at $100.08B.
  • Weyerhaeuser to sell 140,000 acres of Oregon timberland for $300M.

Recent Egan-Jones Rating Actions
MOTOROLA INC (MOT)
UNISOURCE ENERGY CORP (UNS)
ADVANCE AUTO PARTS INC (AAP)
HARRIS CORP (HRS)
WAL-MART STORES INC (WMT)
LIZ CLAIBORNE INC (LIZ)
KOHL’S CORP (KSS)
CBS CORP (CBS)
AVIS BUDGET GROUP INC (CAR)
AMDOCS LTD (DOX)
THOMSON REUTERS CORP (TRI)
FMC CORP (FMC)
DYNEGY INC (DYN)

Data provided by Egan-Jones Ratings and Analytics

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