- Bernanke urged lawmakers to commit to reducing ~$2trillion budget deficit.
- Oil rises to near $67 in Asia as 3-month rally resumes after heavy selloff.
- Private sector jobs in the U.S. fell by 532,000 slots in May.
- US Service Industries contract at slower pace as recession's grip eases.
- ADC Telecom swung to a Q2 loss of $10.9M; revs decline 30% to $275.1M.
- Agrium will scrap $4.3B CF takeover bid unless shareholders tender.
- AstraZeneca may pay top dollar to beat chronic sales fatigue.
- Bill to regulate tobacco products a sharp departure for industry-friendly Congress.
- China shares mixed after 4-day rally on profit-taking following Wall St. decline.
- Chrysler asks judge to approve termination of franchise agreements of 789 dealers.
- Dyncorp Intl beats by $0.04, posts Q4 EPS of $0.34. Revs up 41.9% at $812.8M.
- French unemployment rises to 8.7 percent in 1Q, up from 7.6 percent in 4Q.
- GM bonds signal market value topping Ford’s on Federal bailout.
- Greif posts Q2 EPS of $0.53 (cons $0.51), down 75%; revs fell 29.4%, at $647.9M.
- Hot Topic Inc.'s May sales at stores open at least one year declined 6.4%.
- JP Morgan is breaking up an invt banking unit that focuses on areas like hedge funds, leveraged buyouts and real estate.
- Merck has started contacting potential buyers for parts of its animal-health business.
- NetApp increases offer for Data Domain to $1.8B, matching EMC's bid.
- SAIC Inc's Q1 net rises 12.6% to $116M; revs up 13.2% at $2.65B.
- Steel Dynamics to sell at least 27M shares, $150M in convertible notes to repay debt.
- Toyota Prius tops monthly auto sales in Japan in May, passing up Honda's Insight.
- Toyota sathide thoo fuascien g$ 1m bairlklieotn. in costs for emission rules.
- US pork industry baffled by bans in China, Russia.
- Wal-Mart De Mexico same-store sales rise 3.2% in May.
- Williams-Sonoma posts Q1 loss of $18.7M, revs dip 22% to $611.6M.
Earnings Calendar: ABM, ALOG, CAE, CIEN, COO, KKD, MTN, NAVI, SCMR, TK, UTIW.
Companies to watch: ABM Industries, Analogic Corp, Ciena, Krispy Kreme Doughnut, Navisite, Sycamore Networks, The Cooper Cos, Vail Resorts, Wind River Systems.
Recent Egan Jones Rating Actions:
VALERO ENERGY CORP (VLO)
STEEL DYNAMICS INC (STLD)
DOVER CORP (DOV)
TOLL BROTHERS INC (TOL)
CARDINAL HEALTH INC (CAH)
STEINWAY MUSICAL INSTRUMENTS (LVB)
EMC CORP/MASSACHUSETTS (EMC)
EXPRESS SCRIPTS INC (ESRX)
MASTEC INC (MTZ)
BORGWARNER INC (BWA)
MAGNA INTERNATIONAL INC (MGA)
INTERPUBLIC GROUP OF COS INC (IPG)
GENERAL MOTORS CORP (GM)
Data provided by: Egan Jones Research and Analytics
Sphere: Related Content Print this post