- Asian stocks edge higher after Japan industrial production posts biggest gain in 56 years.
- Dollar weakens as stock gains increase demand for higher yields.
- Fed officials believe the recent sharp rise in Treasury yields could reflect a mending economy.
- India’s economy expands 5.8 percent in the three months to March 31, led by government spending and construction.
- Japan's industrial output jumps at fastest rate in 56 years, but joblessness also rises.
- Oil dips below $65 in Asia after hitting 6-month high on improving US economy.
- Treasuries falls as Obama’s record borrowing spree overwhelms Federal Reserve efforts to cap consumer interest rates.
- AOL is now worth half as much as Facebook Inc. and less than 5 percent of Google Inc.
- BofA offers to swap $2B Preferred for common shares to meet capital goal.
- Chrysler CEO sees sale to Italy's Fiat closing Friday, but dissenters could force postponement.
- Costco Wholesale's Q3 net falls 29% to $209.6M; revs fell 4.9% to $15.81B.
- Dell qtrly net down 63% to $290M as revs dipped 23% to $12.34B. warns PC market hasn't hit bottom.
- FiberNet Telecom to be acquired by Zayo Group for $11.45/sh cash.
- Ford sold $1.1B of five-year notes through its finance unit to boost cash.
- GM will file for bankruptcy on June 1; accord reached with some bondholders.
- HJ Heinz's Q4 net drops 10% to $175M, hurt by a decline in US restaurant traffic.
- Marvell reports in-line, Q1 EPS at $0.05. Revs up 1.7% at $521.4M.
- PepsiCo Inc. plays a role in denying $16 million in stock awards for directors of its biggest bottler and withheld support for most of its directors.
- Revlon implements worldwide org restructuring; says 2Q09 outlook significantly below 2Q08.
- RH Donnelley files for bankruptcy.
- Time Warner said it will finally split off its AOL division.
- Visteon confirmed it filed for Ch 11 bankruptcy protection.
Earnings Calendar: GHM, GLNG, MAD, NBG, QSII, RY, TIF.
Companies to watch: BofA, Dell, Ford, GM, Revlon, Royal Bank Of Canada, Tiffany & Co.,
Recent Egan Jones Rating Actions:
VISTEON CORP (VSTN)
AUTOZONE INC (AZO)
ARVINMERITOR INC (ARM)
ALLEGHENY TECHNOLOGIES INC (ATI)
STAPLES INC (SPLS)
HORMEL FOODS CORP (HRL)
GOODYEAR TIRE & RUBBER CO/THE (GT)
GENERAL MOTORS CORP (GM)
RADIOSHACK CORP (RSH)
CON-WAY INC (CNW)
YRC WORLDWIDE INC (YRCW)
SUNTRUST BANKS INC (STI)
Data from Egan Jones Sphere: Related Content Print this post