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Daily Highlights: 9.8.2010

Courtesy of Tyler Durden

  • Asian stock markets were mostly lower, with financial stocks getting hit.
  • Asian stock markets were mostly lower, with financial stocks getting hit.
  • California Property Tax Values shrink 1.8% in `Historic’ slump and deflation
  • California regulators seek up to $9.9B in fines from PacifiCare
  • China adds $7B of Japanese bonds, extending record yearly increase.
  • EU probes hidden Greek deals as 400% yield gap shows doubt
  • Germany’s exports fell 1.5% in July – the second time this year.
  • Japan talks up intervention as Yen hits 15-year high.
  • Japan’s core machinery orders spike 8.8% in July; current account surplus beats est.
  • Obama to push business tax breaks; Plans for $200B in investment write-offs.
  • Spending on newspaper ads across US declined 5.6% in the second quarter.
  • Wall Street firms to cut 80,000 Jobs in 18 Months
  • Yen tests Tokyo’s resolve; currency sets new 15-yr high against the U.S. dollar.
  • Altera raises Q3 revenue outlook; sees revs to grow by 10-14% from Q2 levels.
  • AngioDynamics sees surprise fall in Q1 profit; sees EPS at $0.07-$0.08 (cons $0.10).
  • Bristol-Myers to acquire biotechnology partner ZymoGenetics Inc. for $885M.
  • Foster’s Group rejected an offer worth $2.5B for its wine unit.
  • H-P sued to block Mark Hurd from joining Oracle; cites trade secret violations.
  • National Bank of Greece to raise $3.6B in capital.
  • Nokia to showcase N8 in bid to close gap with Apple and Android
  • Novo Nordisk agrees to sell ZymoGenetics stake for DKK1.1 B
  • Pep Boys’ Q2 net rises 38% on better margins; revs up 3% at $504.9M.
  • Philips-Van Heusen posts Q2 loss of $54.6M on restructuring, acquisition related costs. Revenue more than doubled to $1.1B.
  • Rio Tinto reportedly cuts iron ore price by 13% for Japanese steel makers during Q4.
  • Sinochem in talks with Temasek on Potash bid.
  • Unilever expected to announce investment in Solazyme, developer of oil from algae.
  • Vodafone to sell its 3.2% stake in China Mobile; to fetch $6.58B.

Economic Calendar: Data on Crude Inventories, Fed’s Beige Book & Consumer Credit to be released today.

Earnings Calendar: CHMP, CIEN, JTX, MW, NAV, PBY, SFD, SHFL, TLB, UNFI.

RECENT RATING ACTIONS

BECKMAN COULTER INC (BEC)
SOUTHWEST AIRLINES CO (LUV)
DELL INC (DELL)
ENTERPRISE PRODUCTS (EPD)
HARTFORD FINANCIAL SERVICES (HIG)
BROWN-FORMAN CORP (BF/A)
BROWN SHOE CO INC (BWS)
MASSEY ENERGY CO (MEE)
FMC CORP (FMC)
COOPER COS INC/THE (COO)
WYNDHAM WORLDWIDE CORP (WYN)
H&R BLOCK INC (HRB)

Data from Egan-Jones


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