- Asian Stocks rise on growth optimism.
- Crude oil rose, exceeding $70/barrel, as Asian equities extended a global stock market rally, raising expectations of fuel demand growth.
- Initial jobless claims jumped 15,000 to 627,000 last week amid a pickup in layoffs related to the end of the school year.
- US economy decreased at 5.5% in the 1Q09 after a 6.3% decline in 4Q08.
- Yields on Fannie and Freddie mort. secs. declined to the lowest pt. in 3 weeks.
- U.K. banks may need to cut lending by about $813B while rebuilding capital.
- AIG to cut debt to New York Fed by $25B
- Bank of America Corp. has the 2nd highest rating from the Federal Reserve.
- Bawang International drew nearly $9B in retail orders for its IPO in Hong Kong.
- Boeing loses Qantas order for 15 787 Dreamliners as travel demand plunges
- Boston Scientific Corp.'s chief executive, James Tobin, will leave the Company.
- Calif. board postpones decision on pollution tax
- ConAgra Foods' Q4 profit drops 13% to $174.7M; despite a 7.5% rise in revs.
- Dress Barn Inc. to acquire Tween Brands, deal est. at $157M.
- Foot Locker hires J.C. Penney executive Ken Hicks as Chief Executive.
- Gartner: Worldwide PC shipments won't fall as much this year as it had feared.
- GM said to pick Michigan for location of future small-car assembly plant.
- Hertz sees Q2 profits above cons est., helped by lower costs, demand improvement.
- Honeywell agrees to acquire RMG Regel + Messtechnik for ~$400M.
- Kimberly-Clark plans to cut 1,600 salaried workers.
- Lear Corp. is preparing to file for bankruptcy as soon as next week.
- Lennar's Q2 loss widened to $125.2M as write-downs and charges increased.
- McCormick & Co.'s Q2 net fell 4.9% to $50.7M on restructuring-related impacts.
- Micron Technology reports a June loss of $290M.
- Qantas Airways deferred 15 Boeing 787-8 aircraft and cancelled 15 787-9's.
- Southwest Airlines (LUV) on Sunday will land in New York to expand its service..
- Suzuki shares surge on possible Volkswagen tie-up
- UBS to raise $3.5B in share sale, f'casts loss in Q2, mostly tied to reorganization costs.
Recent Egan-Jones Ratings Actions
QUEST DIAGNOSTICS INC/DE (DGX)
LABORATORY CORP OF AMERICA (LH)
RITE AID CORP (RAD)
ORACLE CORP (ORCL)
MONSANTO CO (MON)
Data provided by: Egan-Jones Ratings and Analytics
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