Daily Highlights: 7.2.09

July 2nd, 2009 by Tyler Durden

  • Private-sector jobs in the U.S. fell 473,000 in June, according to ADP.
  • n Credit Card Companies raising interest rates and fees 7 months before the new
  • law comes into effect.
  • AIG sold the foreign-exchange prime brokerage platform of its Financial Products unit to BNP Paribas SA.
  • AIG stock delisting notice is a mistake says NYSE.
  • Ball Corp. will pay $577M to buy four plants from Anheuser-Busch InBev.
  • Beazer Homes to pay up to $53M to settle mortgage related claims.
  • Chrysler June sales down 42% to 68,297 units.
  • Constellation Brands' Q1 net drops 85% to $6.5M; maintains Y09 EPS outlook.
  • Ford's June sales fell 11% - the smallest drop by a major auto maker in more than a year. To increase Q3 production to 485,000 vehicles.
  • GM to hold 'garage sale' for hazardous plants, golf course, parking lots.
  • GMAC converted to a corporation from a limited liability company.
  • General Mills' Q4 profit rises 94% to $358.8M; revs up 5% at $3.65B. Ups FY09 EPS view to $4.20-4.25 vs. cons est. $4.15.
  • Hitachi and LG settle US patent disputes over plasma televisions, computer servers servers, and car radio and navigation systems.
  • Hitachi will supply lithium-ion batteries to GM.
  • Illumina Inc. sees Q2 rev at $161M vs. prev view of $168-173M.
  • Lear Corp to file for voluntary bankruptcy.
  • Nomura to buy Citigroup's Japanese trust banking unit for $197.3M.
  • SABMiller plans to place a 10% interest in its S. African business for $778.2M.
  • SEC approved a proposal that takes power away from stock brokers in deciding who sits on corporate boards.
  • Standard Chartered will move more than 400 employees at its global markets team in HK to Two International Finance Centre.
  • Zurich to expand U.S. residential coverage by selling policies to customers it added with the purchase of AIG.
Economic Calendar: Data on Hourly Earnings, Initial Claims, Nonfarm Payrolls to be
released today.

Recent Egan-Jones Rating Actions:
LEAR CORP (LEA)
BALL CORP (BLL)
GANNETT CO INC (GCI)
MERCK & CO INC/NJ (MRK)
LOUISIANA-PACIFIC CORP (LPX)
FIRST HORIZON NATIONAL CORP (FHN)
HERSHEY CO/THE (HSY)
ARCHER-DANIELS-MIDLAND CO (ADM)
KING PHARMACEUTICALS INC (KG)
HOSPIRA INC (HSP)
H&R BLOCK INC (HRB)
ASHLAND INC (ASH)
TRW AUTOMOTIVE HOLDINGS CORP (TRW)

Data provided by: Egan-Jones Ratings And Analytics


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