FMX | Connect – www.fmxconnect.com - (Reported 8/13/2010)
- Asian stocks rebound from 3-week low on earnings growth; Yen weakens.
- China shares up due to easy-credit policy hopes.
- French GDP rose a better-than-expected 0.6% in Q2 from the previous three months.
- Germany’s GDP grows 3.7% in Q2 - fastest pace since its reunification.
- Massive German growth helps eurozone expand by 1% in 2Q.
- Oil rises above $76 in Asia; bounces back from week's losses.
- Retail Sales in US probably rose in July for first time in three months.
- US car dealership count fell to 18,223 after 258 showrooms shut their doors in H1 2010.
- Autodesk's Q2 EPS at $0.36 (cons $0.27); revs rose 14% to $473M (cons $458.9M).
- Airport operator BAA and Unite union hold talks to prevent strike.
- BP to pay a $50.6M fine for failing to fix safety hazards at its Texas oil refinery.
- Brazil controls mean Petrobras can't turn oil price surge into profit gain.
- Cisco, IBM sales may signal slowdown in US corporate spending.
- Eli Lilly lowers rev guidance; US Court rules against Lilly regarding strattera patent.
- Estee Lauder, Elizabeth Arden swing to profit helped by improved sales.
- Flextronics announces new authorization for an additional $200M share repurchase.
- GM said it would replace its CEO with a board member lacking automotive experience.
- JC Penny cuts earning forecast.
- Kohl's reported a 14% rise in Q2 profit to $260M on improved sales and margins.
- Li & Fung plans to buy logistics company Integrated Distribution Srvcs for $902M.
- Microsoft's Xbox outsells Nintendo's Wii, and Sony's PS3.
- Oracle sues Google for patent and copyright infringement over the use of Java in the Android OS.
- Nordstrom reports in-line, Q2 EPS at $0.66 as revs rose 12.7% to $2.42B.
- NVIDIA misses by $0.08, posts Q2 EPS of $0.03. Revs rose 4.4% to $811M.
- Prudential PLC ruled out another bid for AIG's Asian life-insurance business.
- San Miguel Corp. close to selling its hot-dog unit for more than $1B to the Campos family.
- Sara Lee's Q4 sales rose 4.2% to $2.77B; swings to a profit of $187M.
- ThyssenKrupp posts Q3 profit of €272M on cost cuts, raises 2010 forecast.
- Wendy's/Arby's Q2 net falls 28% as sales decline. Lowers FY EPS, revenue outlook.
Source: ZeroHedge
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