- Recovery in the second half of this year will be 'moderate,' according to a report from the National Association for Business Economics
- S&P Case-Shiller national index posted a 19% drop in Q1.
- The world’s shipping lines may double the number of idled container carriers to 20% of the global fleet.
- U.K. house prices may fall as much as 14% in 2009.
- AIG lines up investment banks for its Asian unit, AIA listing.
- ANZ to raise $2.2B in share sale.
- Bain Capital may beat KKR, Warburg for Gome stake with $500M offer.
- Banco Santander has settled with the trustee trying to unwind Madoff feeder fund..
- Borders Group reported a wider qtrly loss of $86M as revs decline 12% to $650.2M.
- Cree Inc. raised its Q3 EPS view to $0.15-0.17 (prev $0.13-0.15) on stroner bookings.
- Chrysler on pace for swift finish to restructuring.
- General Motors prepared to face the fallout from a failed debt exchange that sends it closer to a bankruptcy filing.
- Donaldson Co.'s Q3 profit dropped 42% to $26.6M on lower sales and margins. Revs down 30% at $413.4M.
- Facebook gets $10B valuation as Russian group invests $200M.
- GM, UAW agree to a new restructuring plan giving UAW significantly smaller stake.
- Goodyear Tire to discontinue prodn at French plant; to explore divesting EMEA, Latin America farm tire businesses.
- JPMorgan to reap a $29B windfall due to an accounting rule that transforms bad loans it purchased from WaMu into income.
- MetLife sells $1.25B of 7-year notes as investor sentiment improves
- Schroder Investment Management Ltd. cut the gilts in its global fund to "near zero” as Britain’s finances deteriorate.
- Take-Two Interactive swung to a Q2 loss of $10.1M as revs fell 57% to $229.7M.
Earnings Calendar: AEO, AFCE, AZO, BWS, CHS, CWTR, DLTR, DMND, JAS, RL, SPLS, TIVO, ZLC.
Companies to watch: AFC Entrps, American Eagle Outfitters, AutoZone, Brown Shoe Co,
Chico's FAS, Coldwater Creek, Diamond Foods, Dollar Tree Stores, Jo-Ann Stores, Staples.
Recent Egan-Jones Rating Actions:
CON-WAY INC (CNW)
YRC WORLDWIDE INC (YRCW)
SUNTRUST BANKS INC (STI)
GREAT ATLANTIC & PACIFIC TEA CO (GAP)
CAMPBELL SOUP CO (CPB)
GAP INC/THE (GPS)
JOHNSON & JOHNSON (JNJ)
SEARS HOLDINGS CORP (SHLD)
AMERICAN INTERNATIONAL GROUP INC (AIG)
TORO CO (TTC)
BROCADE COMMUNICATIONS (BRCD)
COMPUTER SCIENCES CORP (CSC)
LTD BRANDS INC (LTD)
Data compliments of Egan-Jones Sphere: Related Content
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