Zero Hedge: Daily Highlights April 4, 2010
- China central bank adviser: conditions are right to return the yuan to a managed-float regimen.
- China may post first trade deficit in six years, undermining Yuan critics.
- Euro gains against Yen, credit risk drops as Trichet calms Greece concerns.
- Most Asian markets are higher, with coal stocks giving Australia’s S&P/ASX 200 a lift.
- Ambac Q4 net income at $558.1M vs. net loss of $2.34B in the same period a year earlier.
- AMD to book one-time, non-cash gain of $325M on deconsolidation of GlobalFoundries Inc.
- Apple steps up rivalry with Google, to add own advertising system to iPhone.
- Celgene believes sales of Apremilast will be $2-3B a year in psoriasis and psoriatic arthritis.
- Chevron Corp. said Q1 earnings are likely to be better than Q4 results. No specifics given.
- Gymboree raises Q1 EPS f'cast to $0.93-0.96, cites better margins.
- Iberia and the U.K.'s British Airways said they have signed a definite merger agreement.
- KKR, Bain Capital preparing IPOs for three of their larger holdings, Toys 'R' Us, HCA & NXP.
- Kohl's raised Q1 EPS guidance after reporting double-digit-percent sales growth for March.
- Macarthur Coal rejects $3.4B New Hope Corp.'s bid rivalling Peabody, Noble.
- Marks & Spencer said Q4 sales growth accelerated to 5.1%, lifts full year profit view.
- McKesson Corp. to sell its McKesson Asia Pacific unit to Medibank Private Ltd.
- Navistar ups f'casts, sees 2010 EPS at $2.75-3.25 (prev $1.75-2.25); revs at $13.2-12.6B.
- Pier 1 swings to Q1 profit of $34.5M on cost cutting measures. Revs rose 1.8% to $396M.
- Ross Stores sees Q1 EPS of $1.14-1.16 (prev $0.92-0.95) based on higher customer traffic.
- TJX boosts Q1 earnings view; March same-store sales beat outlook.
- Wal-Mart cuts prices in an aggressive campaign to reinforce reputation as a discount leader.
- Wynn Resorts said it is ending plans to develop a casino in Philadelphia.
- ZTE Corp.'s 2009 net profit rose 48% to $360.4M on robust demand for equipment in China.
Source: Zero Hedge
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