Daily Highlights: 2.08.2010

• Australia removes large-deposit guarantee amid signs of economic recovery.
• Brazil poised for Latin America's first rate increase as growth picks up.
• Corporate bond yield spreads widen the most since November: Credit Markets.
• Euro, Asian stocks fall as G-7 fails to end concern over Greece, fiscal budgets.
• G-7 governments risk 'muddled middle' with plan to spend now, save later.
• Greenspan sees 'slow' recovery, would be 'very concerned' if stocks drop.
• Japanese bank lending fell by the most in more than four years in January.
• Japanese stocks drop on concern weaker euro will hurt earnings.
• No job growth for small businesses in US inspires doubts over sustainable recovery.
• AB Volvo reported a fifth consecutive quarterly net loss ($269.2M); scraps dividend.
• Acer CEO sees Q1 notebook shipments down by under 10% on quarter.
• Allegheny Energy's Q4 net rises from $16.2M to $109.3M on absence of hedging losses, lower taxes and higher utility returns.
• American Axle posts Q4 profit of $48.6M on tax gain, higher margins. Revs slip 7.8%.
• BAE resolves longstanding corruption allegations, pays almost $500M in settlements.
• Corning Inc. expects telecommunications spending to see little pickup in 2010.
• CVS's Dec. net income rises from $952M to $1.05B.
• E*Trade to reduce commissions for stock and option trades to $9.99 from $12.99.
• Emerson Electric sees its businesses growing sluggishly for at least the next five years in US, Europe and Japan.
• Gazprom sees 2010 EBITDA up 20% YoY on rise in European demand for gas.
• Huatai Securities to raise $2.5B in an IPO in Shanghai.
• SAP AG CEO abruptly resigned on Sunday; co. to return to a dual-CEO structure.
• Spain's Santander eyes 300 RBS branches, may float 25% of UK business.
• Toyota said to recall Japan Prius hybrid cars this week on brake problem.
• Tyson Foods, beats exp., posts Q1 profit of $160M; sales up 1.8% at $6.64B.
• Xstrata full-year profit declines 41% to $2.77B on lower coal price.
• YRC Worldwide posts Q4 pretax profit of $49.8M amide $194M in debt exchange gain. Revs fall 41% to $1.15B.

Earnings Calendar: ADCT, ANDE, ATML, CNA, CVS, ERTS, HAS, L, LNCR, OMI, WCN, WRB.

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Data provided by Egan-Jones Ratings and Analytics

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