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Daily Highlights: 12.18.09

Courtesy of Tyler Durden

  • Asian stocks fall on concern banks will need to raise more equity.
  • Bank of Japan keeps its benchmark interest rate at 0.1% in unanimous vote.
  • Dollar rises, stocks fall worldwide as Greek downgrade fans safety demand.
  • European Union approved a 6 percent increase in spending next year.
  • German Business confidence probably rose to the highest since July 2008.
  • Initial Jobless Claims in US unexpectedly increased to 480,000 last week.
  • Japan central bank says it won’t tolerate deflation; holds key interest rate at 0.1 percent.
  • Japan shares down as banks retreat on prospect of more stringent capital requirements
  • Oil rises above $73 in Asia as investors mull OPEC meeting, US crude demand.
  • Sen. Shelby to vote against the confirmation of Bernanke for a second term.
  • Atmel sells manufacturing operation in Rousset, France to LFoundry GmbH.
  • Comverse to pay $225M to settle a shareholder lawsuit over backdated stock options.
  • Darden Restaurants expects same-store sales in 2010 to decline at least 3%.
  • Discover Fincl’s Q4 net down 14% at $370.7M as delinquencies still climb.
  • FedEx posted a 30% drop in profit; to resume salary increases, retirement-plan contributions.
  • Icahn acquires 11% stake in Take-Two, may seek talks with video-game maker.
  • Marsh & McLennan acquires HSBC unit for $218M.
  • Morgan Stanley surrenders five San Francisco office towers bought at peak.
  • News Corp. is preparing to launch a marketing blitz Friday aimed at Time Warner Cable Inc.
  • Nike Inc.’s Q2 profit declined 4% to $375.4M as revs too slips 4% to $4.41B.
  • Oracle’s profit jumped 12%, sales bet expectations, a sign that tech spending may be poised to rebound.
  • Pier 1 Imports swung to a surprise profit in Q3 at $38.8M as revs grew 8.6% to $327.1M.
  • RIM’s Q3 net jumps 59% to $628.4M as it shipped more than 10 million of its devices.
  • Rite Aid Corp. recorded a 10th straight quarter of red ink; posts loss of $88.2M.
  • Telstra warns on revenue; said its first-half sales revenue would be down on year.
  • UAL Corp. expects Q4 passenger revenue to fall in a range of 6.25% to 7.25%.
  • Westpac Banking Corp. raised $1.8B from RMBS – fist such sale since 2007.
  • Zale Corp. has cancelled some orders with suppliers as it struggles under debt, low sales.

RECENT EGAN JONES RATING ACTIONS
IMAX CORP (IMAX)
OMNICARE INC (OCR)
PRAXAIR INC (PX)
EXPRESS SCRIPTS INC (ESRX)
WYETH (WYE)
GILEAD SCIENCES INC (GILD)
AMERISOURCEBERGEN CORP (ABC)
AIRGAS INC (ARG)
HOVNANIAN ENTERPRISES INC (HOV)
RITE AID CORP (RAD)
METLIFE INC (MET)
AUTOZONE INC (AZO)
INTERNATIONAL RECTIFIER (IRF)

Data provided by Egan-Jones Ratings and Analytics

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