Monday, June 29, 2009

Daily Highlights: 6.29.09

  • Commodity rally may end as supply rises, speculators sell bets.
  • Dollar up against euro, yen after China central banker says exchange policy 'stable'.
  • House passes Cap-and-Trade pollution measure, first to curb US emissions.
  • International Energy Agency sees oil demand up 0.6 percent a year over '08-'14 period.
  • Japan auto production falls in May for 8th straight month of declines.
  • Japan industrial output up 5.9 percent in May, rises for third month.
  • Japan stocks fall as share dilution fears send financials tumbling.
  • Unemployment probably climbed at slower pace, factory slump eased: Bloomberg.
  • Japan's Factory output rises 5.9%, third monthly gain.
  • Amazon.com closed accounts with its North Carolina affiliates to avoid paying a proposed sales tax.
  • British financials plan to cut 13,000 jobs.
  • Cathay, Singapore Air get ‘silver lining’ from fuel.
  • Daiwa Securities tumbles on share offering news, fanning worries that value will be diluted.
  • GE to a $100M R&D facility near Detroit to employ about 1,200 scientists.
  • Hartford Fincl Srvcs gets $3.4B in funds from the US. Treasury's TARP.
  • KB Home reported a narrower qtrly loss of $78.4M; revs came in at $384.5M.
  • Mizuho Financial may start 600 billion yen share sale this week.
  • Nokia Siemens Networks gets euro250 milllion loan from European Investment Bank.
  • Novartis in talks to buy parts of Elan, incl. flagship multiple sclerosis products.
  • Oracle, Sun merger gets closer antitrust scrutiny.
  • Swiss banks shun Americans as U.S. compels disclosure.
  • Towers Perrin, Watson Wyatt to merge creating the world's biggest employee benefitsconsultancy.
  • Vodafone may bid for Deutsche Telekom’s U.K. Unit.
  • Markets will get no independence from data in a short week as gauges of employment, factory-sector health are on tap.
Earnings Calendar: API, APOL, BNHNA, HRB, UDW.

Companies to watch: Amazon.com, Apollo Group, GE, H&R Block, KB Home.

Recent Egan-Jones rating actions:

KIMBERLY-CLARK CORP (KMB)
HJ HEINZ CO (HNZ)
MICRON TECHNOLOGY INC (MU)
MCCORMICK & CO INC/MD (MKC)
LENNAR CORP (LEN)
CONAGRA FOODS INC (CAG)
LEAR CORP (LEA)
QUEST DIAGNOSTICS INC/DE (DGX)
LABORATORY CORP OF AMERICA (LH)
RITE AID CORP (RAD)
ORACLE CORP (ORCL)
MONSANTO CO (MON)
CKE RESTAURANTS INC (CKR)

Data from: Egan-Jones Ratings And Analytics
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