- Pending US Home Resales rises 6.7% in April - the most since 2001 as lower prices lure buyers.
- New netbook from Acer will use Google Inc.’s Android OS.
- AIG to sell consumer finance ops in Argentina; terms undisclosed.
- Altera backs Q2 rev seq growth of 2-7% as Asia demand stays strong.
- Aetna lowers Y09 EPS f'cast to $3.55-3.70 (prev $3.85-3.95), cites higher-thananticipated medical costs in its commercial plans, lower rev from Medicare.
- Bank of America raises $33B, will 'comfortably' meet capital target.
- Barclays expects $50 billion to pour on hedge funds this year.
- Bob Evans Q4 profit rises 31% to $21.1M despite 1.2% dip in sales, at $431M.
- US Circuit Court accepts appeal of Chrysler's sale to Fiat; appeal could delay Chrysler's exit from bankruptcy.
- Delphi sets plan to emerge from Ch 11, to sell sell most of its ops to Platinum Equity LLC.
- GM and Chrysler will face senate scrutiny on dealers.
- GM plans to sell Hummer to China's Tengzhong, saving more than 3,000 jobs.
- Grupo Mexico offered $2.9B to take US copper unit Asarco out of Chapter 11.
- Hovnanian Entrps Q2 loss narrowed as a $311.3M gain helped offset bigger writedowns and a large drop in revenue.
- Morgan Stanley plans to raise $2.2B in common equity.
- Jos A Bank 1Q rises 17% ($11.5M) on continued sales growth. Net sales up 11% at $161.9M.
- Pepsi Bottling Group raised Q2, Y09 EPS f'casts, cites improving sales.
- Toll Brothers' April operating loss rose from $110M to $131M but cash rose.
- Toyota will start plug-in hybrids in Japan, US and Europe.
- Valero Energy expects Q2 loss of $0.50/swh vs. cons est. of a profit of $0.75/sh; cites extended downtime at two refineries; plans to sell 40M shares.
Earnings Calendar: ADCT, CPRT, CYBX, GEF, GIII, GMTN, PSS, SAI, TOL, WSM.
Companies to watch: ADC, Collective Brands, Copart, Delphi, GM, Gander Mountain, Greif Brothers, SAIC, Toll Brothers, Valero Energy, Williams-Sonoma.
Recent Egan Jones Rating Actions
CARDINAL HEALTH INC (CAH)
STEINWAY MUSICAL INSTRUMENTS (LVB)
EXPRESS SCRIPTS INC (ESRX)
MASTEC INC (MTZ)
PEPSI BOTTLING GROUP INC (PBG)
AFLAC INC (AFL)
BORGWARNER INC (BWA)
MAGNA INTERNATIONAL INC (MGA)
INTERPUBLIC GROUP OF COS INC (IPG)
LEGGETT & PLATT INC (LEG)
MOHAWK INDUSTRIES INC (MHK)
CBS CORP (CBS)
LEAR CORP (LEA)
Data provided by Egan Jones Sphere: Related Content Print this post