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Thursday, March 28, 2024

Daily Highlights: 7.28.10

Courtesy of Tyler Durden

  • Asian stocks rose for a fourth straight day on strong corporate earnings.
  • Oil falls a second day after US supplies gain, Consumer confidence drops.
  • UK Q2 economic growth was a “blip”: Natl Institute of Economic & Social Research.
  • Yen rises as signs of slowing US growth spur safety demand.
  • Aetna is contracting out its pharmacy-benefit business to CVS Caremark in a 12-yr deal.
  • Aetna raises 2010 profit f’cast to $3.05-3.15 as flu season lowers costs.
  • Alcon Inc. posted a 15% rise in Q2 profit on sales and margin growth. Ups 2010 view.
  • AmeriGas Partners reports Q3 loss of $0.23 (cons -$0.20); revs up 6.4% to $396.6M.
  • ArcelorMittal posts Q2 profit of $1.704B on 42.6% jump in revs to $21.65B.
  • BAE said to win $773M Indian order for BAE Hawk Trainers.
  • Boston Properties’ Q2 profit falls 8.6% to $61.4M, but beats its view.
  • British American Tobacco H1 sales up 8% at GBP7.3B; sees year of growth ahead.
  • CIT enters into talks later this week to refinance and repay $4B of its credit facility.
  • Corning’s June net income rises from $611M to $913M.
  • Deutsche Bank closes a group that advises on commercial real estate transaction.
  • Disney to purchase social-game maker Playdom for $563.2M.
  • GameStop to acquire online-games distributor Kongregate for an undisclosed sum.
  • Hess Corp. to acquire American Oil & Gas Inc. in an all-stock transaction.
  • Infineon Technologies swings to Q3 profit of €126M after revs surge 59% to €1.2B.
  • LG Electronics Q2 net falls 33% to $722M on lower smartphones sales. Revs fell 0.7%.
  • Massey Energy misses by $0.33, reports Q2 loss of $0.02. Revs rose 16.1% to $810M.
  • Medtronic’s spine device faces uncertain approval after close Panel vote.
  • Merck paid 3,468 death claims to resolve Vioxx suits.
  • Nippon Steel swings to Q1 profit of $306M as sales gain 30%.
  • Portugal Telecom may reach decision to buy a stake in Brazil’s Tele Norte.
  • PSA Peugeot Citroen swung to H1 profit of €680M as revs rise 20.8% to €28.39B.
  • Teva earnings climb on higher U.S. drug sales
  • UGI Corp misses by $0.04, posts Q3 EPS of $0.03. Revs flat at $961.9M.
  • United States Steel posted a $25M Q2 loss, even as revenue doubled to $4.68B.
  • UnitedHealth Grp in advanced talks to buy closely held Executive Health Res., for $1.5B.

Economic Calendar: Data on Durable Orders, Crude Inventories, Fed’s Beige Book to be released.

Earnings Calendar: ABD, ADLR, ATI, ATX, BA, BMC, CCI, CDR, CEG, CLF, COP, CYH, D, DRYS, E, EK, ESRX, GB, IP, JNY, MT, MYL, RYL, V, WLP.

RECENT RATING ACTIONS
VERIZON COMMUNICATIONS INC (VZ)
CA INC (CA)
MASCO CORP (MAS)
UNISYS CORP (UIS)
KIMBERLY-CLARK CORP (KMB)
FERRO CORP (FOE)
SHAW GROUP INC/THE (SHAW)
AIRGAS INC (ARG)
JB HUNT TRANSPORT SERVICES (JBHT)
ADVANCED MICRO DEVICES INC (AMD)
UNITED PARCEL SERVICE INC (UPS)
3M CO (MMM)

Data courtesy of www.eganjones.com

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