• US is considering the possibility of a single regulator for banks.

  • April Existing-home sales climbed 2.9% as buyers took advantage of foreclosures.

  • Treasury Yield curve steepens to record as sales of govt debt surge.

  • AutoZone's Q3 net rises 9.5% to $173.7M, revs up 9.3% at $1.66B.

  • BofA says has raised $26B in capital plan to date.

  • GM bankruptcy is considered 'inevitable' as bondholders reject swap offer.

  • GM has asked for an addln $415M for its Opel unit, stalling talks with Fiat, Magna Intl.

  • Jo-Ann Stores beats by $0.19, posts Q1 EPS of $0.30 as revs rise 3.1% to $460M.

  • PNC Fincl Srvcs raised more than the $600M after stress-test results.

  • Polo Ralph Lauren Corp.'s Q4 net tumbled 57% amid $69M in write-downs.

  • RF Micro Device: Demand for products in Jun qtr is better than expected.

  • Samsung, SanDisk agreed to a patent licensing deal that heads off the threat of litigation between two players.

  • Staples profit falls 33% in Q1 to $143M despite a 19% rise in sales to $5.82B.

  • Terex announced that it is seeking ~$600 mln in new financing.

  • Time Warner plans to separate AOL.

  • Visteon files for bankruptcy protection.

  • Warburg Pincus said to mull $1.4B sale of cable operator, FiberNet.

  • Zale misses by $0.27, posts Q3 loss of $0.73/sh. Revs fell 20.5% to $379M.

  • Economic Calendar: Data on Durable Goods Orders, Initial Claims, New Home Sales & Crude Inventories to be released today.

Earnings Calendar: BIG, BNS, COST, DLIA, FRED, FRO, GCO, HNZ, JCG, JTX, NOVL, OVTI, PERY, SAFM, TD, WTSLA.


Companies to watch: Bank of Nova Scotia, Big Lots, Costco Wholesale Corp, dELiA*s, Fred's, Genesco, H.J. Heinz Co, J.Crew Group, Novell, Perry Ellis Intl, Sanderson Farms, The Wet Seal, Toronto Dominion Bank.


Recent Rating Actions by Egan-Jones


ALLEGHENY TECHNOLOGIES INC (ATI)

KEYCORP (KEY)

STAPLES INC (SPLS)

HORMEL FOODS CORP (HRL)

GOODYEAR TIRE & RUBBER CO/THE (GT)

GENERAL MOTORS CORP (GM)

RADIOSHACK CORP (RSH)

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)


Data provided by Egan Jones