Market Recap
DJIA -1.22%, Nasdaq -2.38% and S&P -1.58%
Nikkei +1.48%
WTI Crude Oil USD 44.87
Gold USD 940
USD/EUR 1.2711
U.S. stocks finish the day convincingly lower on average volume as investor’s digest as host of macro, political and corporate news.
U.S. News
Obama administration will require Citi to raise private capital and make changes to its board of directors.
Dell reported Q4 revenue USD 13.4bn vs USD 14.2bn cons, EPS ahead by 2c
IBM reiterated its 2009 guidance and will continue divesting the more cyclical and commoditizing segments
Safeway missed its earnings numbers due to FX headwinds and lower fuel sales.
GM reported a Q4 adjusted EPS $9.65 and said cash flow burn is significant in Q1 and the company is seeing February vehicle sales similar to January level.
European News
Thales reports FY2008 results in line, but give gloomy outlooks, sees 2010 worse than 2009.
Deutsche Telekom reports Q4 results slightly above and guidance are ok. The dividend is unchanged at 78c
Daimler has been named as potential buyer of the Opel plant in Eisenbach.
Telefonica will end its buy back program started in 2008.
Heineken could bid for AB InBev’s Czech Brewery.
Fortis and BNP talks are advancing in the right direction according to press comment.
ENEL plans to raise up to EUR 7bn in rights issue.
Boeing dropped plans to help Finmeccanica to built new cargo planes for the US army.
Several leading shareholders are likely to vote against the proposed £4.1bn rights issue of Xstrata.
Kudelski reports disappointing numbers and guidance.
RBS ‘s participation in the government’s asset protection program could cost the U.K. taxpayer £50bn. (FT)
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