• Recovery in the second half of this year will be 'moderate,' according to a report from the National Association for Business Economics

  • S&P Case-Shiller national index posted a 19% drop in Q1.

  • The world's shipping lines may double the number of idled container carriers to 20% of the global fleet.

  • U.K. house prices may fall as much as 14% in 2009.

  • AIG lines up investment banks for its Asian unit, AIA listing.

  • ANZ to raise $2.2B in share sale.

  • Bain Capital may beat KKR, Warburg for Gome stake with $500M offer.

  • Banco Santander has settled with the trustee trying to unwind Madoff feeder fund..

  • Borders Group reported a wider qtrly loss of $86M as revs decline 12% to $650.2M.

  • Cree Inc. raised its Q3 EPS view to $0.15-0.17 (prev $0.13-0.15) on stroner bookings.

  • Chrysler on pace for swift finish to restructuring.

  • General Motors prepared to face the fallout from a failed debt exchange that sends it closer to a bankruptcy filing.

  • Donaldson Co.'s Q3 profit dropped 42% to $26.6M on lower sales and margins. Revs down 30% at $413.4M.

  • Facebook gets $10B valuation as Russian group invests $200M.

  • GM, UAW agree to a new restructuring plan giving UAW significantly smaller stake.

  • Goodyear Tire to discontinue prodn at French plant; to explore divesting EMEA, Latin America farm tire businesses.

  • JPMorgan to reap a $29B windfall due to an accounting rule that transforms bad loans it purchased from WaMu into income.

  • MetLife sells $1.25B of 7-year notes as investor sentiment improves

  • Schroder Investment Management Ltd. cut the gilts in its global fund to near zero” as Britain's finances deteriorate.

  • Take-Two Interactive swung to a Q2 loss of $10.1M as revs fell 57% to $229.7M.

Economic Calendar: Data on Existing Home Sales, Crude Inventories to be released today.


Earnings Calendar: AEO, AFCE, AZO, BWS, CHS, CWTR, DLTR, DMND, JAS, RL, SPLS, TIVO, ZLC.


Companies to watch: AFC Entrps, American Eagle Outfitters, AutoZone, Brown Shoe Co,

Chico's FAS, Coldwater Creek, Diamond Foods, Dollar Tree Stores, Jo-Ann Stores, Staples.


Recent Egan-Jones Rating Actions:


CON-WAY INC (CNW)

YRC WORLDWIDE INC (YRCW)

SUNTRUST BANKS INC (STI)

GREAT ATLANTIC & PACIFIC TEA CO (GAP)

CAMPBELL SOUP CO (CPB)

GAP INC/THE (GPS)

JOHNSON & JOHNSON (JNJ)

SEARS HOLDINGS CORP (SHLD)

AMERICAN INTERNATIONAL GROUP INC (AIG)

TORO CO (TTC)

BROCADE COMMUNICATIONS (BRCD)

COMPUTER SCIENCES CORP (CSC)

LTD BRANDS INC (LTD)


Data compliments of Egan-Jones