Futures looking slightly up this morning, despite continued bank and subprime worries. Capital One announced yesterday that it would close GreenPoint Mortgage and take an $860mm charge. German Bank West LB warns of a crisis in Germany’s banking sector. Speculation of a UK insurer going under. Despite the “feel,” futures are hanging in and the mkts are showing some resilience.
China’s central bank raises lending rates. Staples reported in-line. BJ’s beat numbers.
Oil trading with a $70-handle. Ten-year note yields 4.59%.
Rockbay News: VMED CEO departs, DJO receives FDA approval for bone growth products, BEST positive on AA on recent pullback, BEST cuts CBRY LN on demerger assumption rather than sale of bev unit, London Times reports Barclays falling share price may cost it AB Amro bid, UBS reduces MEH stake, GSCO reinstates FL with neutral rating and cautious outlook, Highland Capital discloses 22% stake in ICOG, Hanover and Universal Compression become EXH, EXH announces $200mm share buyback and completes debt refinancing, Taiwan Mobile (3045 TT) reiterated buy at CITI, NRG and RRI initiated with Buy rating at Calyon, THI downgraded to neutral at GSCO, MMI investments reduces DJO stake to 4.8% from 9.4%,
Vito’s Trivia: What occurred at the Battle of Thermopylae in 480 BC?
Yesterday’s Answer: Recently deceased Merv Griffin was the male actor who took part in the first open-mouthed kiss in cinematic history in 1953.