Daily Highlights: 11.13.09

Zero Hedge

• Asian stocks fall, government bonds rally as oil drops; Yuan forwards rise.
• China this year rejected requests to build 47 projects worth 200B to curb excessive capacity.
• Copper prices falls as dollar gains for second day, stockpiles at six-month high.
• Dollar falls versus Krone, Aussie; Europe GDP growth optimism spurs yield demand.
• European Stocks Advance; Richemont, British Airways, Iberia Shares climb
• Eurozone out of recession after 0.4% growth
• FHA reserves fall below legal limit
• Health legislation being considered would force drug makers to disclose amount spent on continuing medical education classes for doctors.
• IEA says rising oil price risks derailing economic recovery.
• Initial Jobless claims in US fall more than estimated to a 10-month low.
• Oil trades near one-month low as US supply gain raises demand concern.
• OPEC output is highest since January; quota may rise in December, IEA says.
• U.S. Treasury confident Congress will increase $12.1 Trillion debt ceiling
• Blockbuster’s Q3 loss widened to $114.1M as revenue slipped amid growing competition.
• British Airways agreed to a plan for a $7B merger with Spanish carrier Iberia Lineas.
• E.ON AG ups Y09 EPS f’cast on lower interest costs than previously expected.
• EnCana Q3 profit drops 99% to $25M on weak natural gas prices.
• Intel to pay Advanced Micro Devices $1.25B to settle all antitrust and patent suits.
• KKR puts higher valuation on Dollar General than Walmart in IPO offering.
• Kohl’s Corp.’s Q3 net rises better-than-expected 21% on sales growth, improved margin.
• Liberty Global Inc. close to agreeing to pay $5B for Unitymedia GmbH.
• Maersk: Global shipping markets remain weak, uncertain despite tentative signs of pickup.
• Nordstrom’s Q3 net rises 17% to $83M on 3.5% rise in revs to $1.87B.
• Porsche swung to a €4.4B ($6.6B) pretax loss in Y09 related to its stake in Volkswagen.
• Time Warner to take $200M in addln charges stemming from the spinoff of AOL.
• Toyota is planning a larger version of its popular Prius hybrid
• United Tech to buy GE’s fire-alarm and surveillance-systems unit for $1.82B.
• Vivendi posted a 78% drop in Q3 net, still expects strong profit growth in Y09.
• Wal-Mart offers muted holiday sales view, but raises profit f’cast on lower inventory.
• Walt Disney’s Q4 profit rises 18% to $895M, driven by strength at its cable networks.

Recent Egan-Jones Rating Actions

FLOWERS FOODS INC (FLO)
PLAYBOY ENTERPRISES INC (PLA)
NRG ENERGY INC (NRG)
ADVANCED MICRO DEVICES INC (AMD)
SUN MICROSYSTEMS INC (JAVA)
HEWLETT-PACKARD CO (HPQ)
SNAP-ON INC (SNA)
EMERSON ELECTRIC CO (EMR)
SEMPRA ENERGY (SRE)
DEAN FOODS CO (DF)
PRUDENTIAL FINANCIAL INC (PRU)
NATIONAL FUEL GAS CO (NFG)
MACY’S INC (M)

Data provided by Egan-Jones ratings and analytics

More articles from Zero Hedge….