- 10 financial institutions were granted permission to repay $68B in government-bailout cash.
- Financial institutions escaping TARP face $5 billion warrant repayment.
- Dollar gains on yen as risk appetite improves.
- French industrial output drops.
- Japan machinery orders weak, recovery seen slow.
- Obama admin drops plan to cap salaries at firms receiving bailout money.
- Obama administration ready to tighten reins on Wall Street pay, bonuses.
- Oil soars above $71 as 3-month rally continues, reaching 2009 high.
- World stock markets rise amid higher commodity prices and renewed hopes about the state of the banking sector.
- Ameriprise Financial announces $900M offering of common stock.
- Barnes Group withdraws FY09 EPS view, cites rising uncertainty in transportation sector.
- BB&T Corp confirms approval to repay TARP (~$3.134B).
- Supreme Court clears way for Chrysler's sale to Fiat; sale could close 'very shortly'.
- CIGNA expects to reaffirm consolidated adj. income from operations est. for FY09.
- Crown Ltd., writes down the value of its 19.6 percent equity stake in Fontainebleau Resorts LLC to zero after three units of the U.S. developer files for bankruptcy.
- Fiat said to purchase most Chrysler assets to form new automaker.
- Fontainebleau Las Vegas Enters Chapter 11.
- HK shares rise 4 percent, recouping losses in anticipation of strong China economic data.
- Korn/Ferry misses by $0.06, reports revs in-line; guides Q1 revs below cons.
- Marvell Technology to pay $72M to settle a class-action lawsuit related to its backdating of stock-option grants.
- Sina Q1 earnings fall 31%; offers disappointing Q2 view.
- US Bancorp confirms approval to redeem $6.6B of Preferred Stock from Treasury Dept.
- Wells Fargo hasn't applied to repay TARP, focuses on Wachovia integration.
Earnings Calendar: ISLE, LTON, LUB, MEAS, NOA, OCCF, PURE, SEH, SLTC, VOL.
Cos. to watch: Ameriprise Fincl, Barnes Group, Cigna, Fiat, Isle of Capri Casinos, Wells Fargo.
Recent Egan-Jones Rating Actions:
SLM CORP (SLM)
ALCOA INC (AA)
NCR CORP (NCR)
CA INC (CA)
LENNAR CORP (LEN)
MANPOWER INC (MAN)
PEPSI BOTTLING GROUP INC (PBG)
INTERNATIONAL BUSINESS (IBM)
SARA LEE CORP (SLE)
TEXAS INSTRUMENTS INC (TXN)
KELLOGG CO (K)
BUNGE LTD (BG)
EMERSON ELECTRIC CO (EMR)
Data provided by: Egan-Jones Research and Analytics
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