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Thursday, March 28, 2024

Daily Highlights: 8.19.10

Courtesy of Tyler Durden

  • Asia stocks rise on Applied Materials outlook; Ringgit, Taiwan Dollar gain
  • Asian computer shipments signal extended consumer spending slump in US.
  • China allows Ringgit to trade vs Yuan in domestic market.
  • China may ban copper producers who violate environment rules for two years.
  • Clinton to urge global aid for Pakistan to match Haiti response
  • SEC will vote next week on rules that may make it easier to oust directors.
  • Treasury 10-Year yields near 17-month low as Fed, Japanese investors buy.
  • US banks receive Basel III boost, Rewrite of rules could cut in half new capital required.
  • AIG sets stage for first bond sale since bailout.
  • Applied Materials guides Q4 EPS, revs above consensus.
  • AstraZeneca wins dismissal of Verus suit over plan to develop Asthma Drug
  • Avista & Ontario Teachers Pension to buy drug researcher INC Research Inc. for $600M
  • BHP’s Kloppers goes hostile as Potash’s Doyle fights against ‘cheap’ deal.
  • Brocade reports in-line, Q3 EPS at $0.13 and revs rose 2.2% to $504M.
  • Chico’s FAS’s Q2 misses est., but profit more than doubles to $30.5M. Revs up 11%.
  • EMI remains in danger of defaulting on bank covenants despite several cash injections.
  • GM Files for IPO a Year After U.S. Automaker Exited Bankruptcy Protection
  • Gymboree beats by $0.03, guides Q3 EPS below cons on expectations of lower sales.
  • Holcim’s Q2 net falls 12% to $383M despite 11% rise in revs. Blames European market.
  • Hot Topic misses by a cent, reports Q2 loss of $0.14/sh as revs fell 4.9% to $150M.
  • J&J reorganizes manufacturing after series of recalls
  • JPMorgan plan sale of commercial mortgage bonds
  • Lenovo Group swung to Q1 profit of $54.86M helped by 49.6% jump in revs to $5.15B.
  • Limited beats by $0.02, posts Q2 EPS of $0.36. Revs rose 8.5% to $2.24B.
  • MasterCard to pay $520M for DataCash Group.
  • McDonald’s becomes first foreign non-financial co. to sell yuan bonds in Hong Kong.
  • Sears Holdings’ revenue declined but losses improved from $94M to $39M.
  • Target earnings rise 14% to $679M on pickup in credit cards, cost-cutting efforts.

Tata Motors to hire Citigroup & Credit Suisse to help raise $1B

Economic Calendar: Data on Initial & Continuing Claims, Leading Indicators to be released today.

Earnings Calendar: ARO, BCSI, BKE, BONT, CPWM, DELL, DLTR, FL, GPS, HPQ, INTU, ROST, SPLS, SSI, WSM, WTSLA.

RECENT RATING ACTIONS
STATOIL ASA (STL NO)
SOUTHWESTERN ENERGY CO (SWN)
CISCO SYSTEMS INC (CSCO)
CON-WAY INC (CNW)
BLACKROCK INC (BLK)
OMNICARE INC (OCR)
AMERICAN ELECTRIC POWER (AEP)
DEERE & CO (DE)
BHP BILLITON LTD (BHP AU)
LAS VEGAS SANDS CORP (LVS)
TARGET CORP (TGT)
WAL-MART STORES INC (WMT)

Submitted by Egan-Jones Ratings and Analytics

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