Daily Highlights: 6.12.09

June 12th, 2009 by Tyler Durden

  • Retail sales rose 0.5% during May, but much of the gain due to gasoline station receipts.
  • Jobless rate will remain above 9% through the end of 2010: Economists.
  • IEA slightly raised its 2009 world crude-demand f'cast for the first time in 10 months.
  • Global economy to contract by close to 3%, worse than the prev. est for a 1.75% decline: World Bank.
  • Actel Corp reduces Q2 guidance; sees revs declining sequentially 5-9% (prev 1-7%).
  • BlackRock to pay $13.5B cash, stock for Barclays Global Investors.
  • Del Monte beats by $0.09, sees FY10 EPS at $0.76-0.80 (cons $0.75); revs at $3.77-3.84B (cons $3.66B).
  • Delta Air Lines, AMR Corp. plan to make deeper capacity cuts amid the U.S. recession.
  • Exxon Mobil to join a pipeline project underway by TransCanada to bring natural gas from North Slope of Alaska to the continental US.
  • GM picks Sweden's Koenigsegg as front-runner to buy Saab unit.
  • Hartford Financial to receive $3.4B of TARP funds.
  • Marshall & Ilsley Corp. plans a $400M common stock offering.
  • Qualcomm raises Q3 revenue, operating income, shipment guidance. Sees Q3 revs at $2.67-2.77B (cons $2.54B) vs. prev view of $2.40-2.60B.
Economic Calendar: Data on Export-Import Prices, Mich Sentiment-Prel to be released today.

Earnings Calendar: DUCK, MSB.

Companies to watch: Actel Corp., BlackRock, Del Monte, Delta Air Lines, Exxon Mobil,

Recent Egan-Jones Rating Actions:

RANGE RESOURCES CORP (RRC)
PIONEER NATURAL RESOURCES CO (PXD)
NEWFIELD EXPLORATION CO (NFX)
PETROHAWK ENERGY CORP (HK)
ISLE OF CAPRI CASINOS INC (ISLE)
VULCAN MATERIALS CO (VMC)
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)

Data provided by: Egan-Jones Research and Analytics
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