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Daily Highlights: 9.28.2010

Courtesy of Tyler Durden

  • ADB raises Asia ex-Japan growth f’cast for this year to 8.2% vs. July view of 7.9%.
  • ADB says Asia must refrain from tightening ‘too quickly’.
  • Asian stocks fall on European debt concerns, Metal prices drops.
  • Fed weighs a more open-ended, smaller-scale bond purchase program.
  • German consumer confidence f’casts 4.9 pts for Oct, a rise from rev 4.3 pts in Sept.
  • AIG’s Asian unit gauges demand for its Hong Kong listing; plans to raise $10-15B.
  • AOL has been in talks to acquire technology blog TechCrunch.
  • Buffett affirms support for China Carmaker BYD after stock fall
  • China Airlines plead guilty to fixing prices on air-cargo shipments, pay $40M fine.
  • Cognex raises Q3 revs guidance to $74-76M vs. $66.5M cons., up from $65-68M.
  • Con Edison to issue 6.3M shares; proceeds to be invested in Cons Edison Co of NY.
  • Exelon Corp. to sell $900M of debt to fund its purchase of a Deere’s wind-power unit.
  • Ford still expects to make a “solid profit” this year; to invest $2.37B in UK over 5 yrs.
  • Honda’s August global vehicle output rises 17% to 288,084 units.
  • J.P. Morgan targets FDIC funds for WaMu claims.
  • Jabil Circuit beats by $0.03, posts Q4 EPS of $0.52 as revs rose 37.9% to $3.86B.
  • Lloyd’s of London profit drops on higher claims
  • MGM Resorts seeks to list its Macau gambling JV on the Hong Kong stock market.
  • Michelin plans $1.6B share sale to strengthen its credit rating.
  • Morgan Stanley said to freeze hiring at investment bank for rest of year.
  • NBC Universal issues $5.1B of bonds to finance sale to Comcast.
  • Pfizer discontinues ph III trial evaluating its Sutent drug in combination with prednisone.
  • RIM unveils PlayBook Tablet device as BlackBerry maker chases Apple’s Ipad.
  • Siemens predicts its Q4 profit will increase as orders climb.
  • Takefuji said to prepare bankruptcy filing on cost of refunds to clients.
  • Valero Energy to sell Paulsboro refinery for $360M plus working capital, inventories.
  • Viacom sees “sequential growth” over the next two quarters.
  • Wal-Mart makes $4.2B bid for Grocer Massmart to expand into Africa.
  • Zale Corp.’s Q4 loss narrowed to $28.5M on lower costs. Revs fell 3.4% to $345M.

Economic Calendar: Data on Case-Shiller 20-city Index & Consumer Confidence to be released today.

Earnings Calendar: CNLG, HDY, LNDC, MSON, MTRX, PDEX, SMSC, VOL, WAG, ZZ.

RECENT RATING ACTIONS

CREDIT SUISSE GROUP AG (CSGN VX)
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Data submitted by Egan Jones

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