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Daily Highlights: 12.20.2010

Courtesy of Tyler Durden

  • Asian stocks decline on Europe debt concerns, South Korea artillery drill.
  • BOE forecast to raise interest rate within 6 months: Confederation of British Industry.
  • China drugmakers tumble after report medicine prices to be slashed by 40%.
  • China’s stocks plunge most in month on North Korea, interest-rate concerns.
  • Crude oil trades near $88 a barrel on bets US recovery will raise demand.
  • Power cuts and rationing hitting parts of central, northern China amid coal shortage.
  • Relative yields on European investment-grade company bonds are the highest ever compared with US debt as the region’s deficit crisis worsens.
  • South Korea imposes bank levy to reduce capital volatility.
  • Alberto Culver shareholders OK $3.7B Unilever deal.
  • AT&T to pay QualComm $1.93B for licenses.
  • AT&T board approved a new stock buyback plan of 300M shares.
  • Blackstone to refinances $7B of debt tied to its 2007 acquisition of Equity Office Props.
  • BMO Financial to buy Marshall & Ilsley for $4.1B in stock deal.
  • Carl Icahn reported a 5.8% stake in Chesapeake Energy Corp. late Friday.
  • CVC, which bought a minority stake in Abertis Infraestructuras, prepares €12B takeover bid for the company.
  • Danaher Corp., Thermo Fisher among others considering offers for Beckman Coulter Inc.
  • Former Dell Global Supply Manager Devore pleads guilty; admits leaking inside information to clients of Guidepoint.
  • Deutsche Bank has received at least 11 bids for its Indian credit card business.
  • E&Y faces NY civil fraud charges for its alleged role in the collapse of Lehman Bros.
  • JPMorgan buys the former offices of Lehman Brothers in London’s Canary Wharf district for $769M.
  • Hynix Semiconductor Inc.’s CEO expects chip prices to continue to fall early next year.
  • KKR ended talks to buy Perpetual Ltd. for at least $1.73B; fail to agree on offer.
  • Raytheon to pay $490M for Applied Signal.
  • Sara Lee talks with JBS on sale of company are said to hit snag on price.
  • Sasol Ltd. will pay $1.04B for a stake in Talisman Energy Inc.’s shale gas assets.
  • Shell is preparing 3 exploration plans to meet new requirements for deep-water wells in GOM.
  • Sony aims to boost TV sales, return unit to profitability in 2011.

Earnings Calendar: ADBE, CPY, CTAS, DRI, FSII, JBL, NAV, PNY, RHT, TIBX.

Recent EJR Reports

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Data provided by Egan-Jones

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