Focus Stories
1. WSJ highlights EU banks face problems in regards to capital ratios thus forcing them to potentially raise $135B
2. Oracle (ORCL) announced that Mark V. Hurd has joined Oracle as President and has been named to Oracle's Board of Directors. (Oracle upgraded to Conviction Buy from Buy at Goldman - Target $27.)
3. Obama will unveil a $50B transportation infrastructure stimulus plan and a corporate plan to allow 100% write offs of new investments in plants and equipment through 2011.
4. Air Products(APD) Raises Bid For Airgas(ARG) To $65.50 From $63.50.
5. 161 companies are seeking to raise more than $56 billion through initial public offerings, according to Renaissance Capital, an I.P.O. research firm. That is the most companies in the I.P.O. pipeline since 2000 and the largest pent-up dollar amount on record.
1. Stock and U.S. Futures rose to 4 month highs after Ireland said it won’t need E.U. financial aid ahead of their planned offering of up to 1.5B euros in bonds this week.
2. Reuters citing an article in the Economic Observer over the weekend reported that Sinochem has formally asked the Chinese government to back a bid for POT.
3. BP confirmed that well kill operations on the MC252 well in the Gulf of Mexico are now complete.
4. French conglomerate Safran SA is expanding its presence in the U.S. with plans to buy ID for 1.09B in cash or $12/shr.
5. LEN reported Q3 EPS of $0.16, topping consensus estimates of $0.04. Revenues in the quarter rose 14% to $825 million, and came in ahead of consensus estimates of $760 million. (DFS reports today as well)
