Market Recap
DJIA -0.80%, Nasdaq +1.22% and S&P -0.05%
Nikkei -0.62%
WTI Crude Oil USD 1.2822
USD/EUR 40.60
U.S. stocks recovered a portion of their early losses.
U.S. News
Morgan Stanley will cut 1800 jobs in technical and administrative division.
Bank Of America was under pressure on reports shareholders to demand Ken Lewis to be removed at annual meeting.
Sandisk reported Q4 numbers above the market expectations.
Aflac reported Q4 numbers in line
Mattel reported Q4 earnings below consensus. The company will keep its dividend.
Macy’s announced it will cut 7000 jobs and reduce its quarterly dividend. It also announced it will buy back USD 950m in bonds to reduce debt.
European News
Vodafone reports mixed numbers and gives positive guidance.
Adecco, Randstad and Manpower were fined EUR 94.4m by French regulators for price fixing.
Deutsche Boerse: German stock-exchange trades fell 68% in January
BP reports its first quarterly loss in 7 years, numbers are below market expectations.
UBS held talks last year with Morgan Stanley over the sale of UBS Financial Services
Fiat posted a 31% drop in monthly sales.
Telecinco’s CEO said some Spanish TV companies are facing bankruptcy.
Ferrovial-BAA has agreed a tax allowance on capital gains from asset sales in 2008 and pending sales with UK government.
AB-InBev will sell South Korean beer unit for USD 1.4bn and will sell also Labatt beer in the USA. All short-term financing needs will be covered.
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