- Asian stocks rise as Chinese investment boosts growth optimism.
- Australia's jobless rate rises to 7-year high of 5.7 percent as companies cut workers.
- Bank of Korea keeps key interest rate at record low 2 percent for 4th straight month.
- China's May exports and imports plunge 26.4 but analysts say economy improving.
- European stocks up ahead of key US data.
- Fed Beige Book says recession may be 'moderating,' labor weakness persists.
- Foreclosures fall 6 percent in May from April, smallest annual drop since mid-2006.
- Japan's 1Q GDP revision confirms steep recession.
- Japan stocks slip after Nikkei crosses 10,000 line.
- Oil hovers near $72 in Asia on investor optimism for an economic recovery.
- US ad spending in Q1, on media such as TV, print and online display, fell to $30.18B, down 14%.
- Actuant lowered Q3 EPS view to $0.06-0.08 (prev $0.12-0.20); cites lower sales.
- Barclay’s sale of BGI may weaken bank as it bolsters capital.
- Brown-Forman Corp.'s Q4 net skidded 20% to $79.6M. Revs fell 12% to $683.3M.
- Cathay Pacific Airways sees sharp decline in cargo, passenger traffic in May.
- Crescent Resources, owned by Duke Energy and Morgan Stanley's real-estate fund unit, files for Chapter 11.
- Dell looks to ramp up acquisitions for growth.
- Fiat closes deal to take over Chrysler.
- Home Depot says fiscal earnings won't be as weak as expected.
- IHS reaffirms FY09 rev growth of 12-16% (cons +14.2%); adj EBITDA growth of 21-24%.
- Isle of Capri beats by $0.19, posts Q4 EPS of $0.16. Revs fell 2.8% to $284.3M.
- MetLife's Kandarian says worst is to come on commercial mortgage defaults.
- Neiman Marcus swung to a Q3 loss of $3.1M as revs fell 24% to $810.1M.
- Spartech Corp posts Q1 EPS of $0.20 (cons $0.04); revs fell 36.3% to $234.3M.
- Sprint Nextel is considering combining its long-distance network with Level 3 Comm, in a joint venture.
- Toys "R" Us' Q1 loss narrows to $35M on cost cuts; sales down 8.9% to $2.48B.
- Vulcan Materials slashed its dividend almost in half; plans for a $500M stock offering.
Recent Egan-Jones Rating Actions:
EOG RESOURCES INC (EOG)
NOBLE ENERGY INC (NBL)
AMERIPRISE FINANCIAL INC (AMP)
PALL CORP (PLL)
E*TRADE FINANCIAL CORP (ETFC)
NCR CORP (NCR)
SLM CORP (SLM)
ALCOA INC (AA)
NCR CORP (NCR)
CA INC (CA)
LENNAR CORP (LEN)
MANPOWER INC (MAN)
PEPSI BOTTLING GROUP INC (PBG)
Data provided by: Egan-Jones Research and Analytics
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