- Asian markets fall as pessimism about global economy spreads.
- BOJ's Shirakawa says that corporate financing has improved but the bank must monitor market developments before to extend measures to ease credit strains.
- Geithner: Risks of deeper recession in US are 'dramatically' lower.
- New-car registrations in Europe dipped to 1.27 million vehicles in May.
- Nikkei 225 Stock Average tumbles 2.9% Tuesday, its biggest one-day loss since March 30.
- Obama's financial overhaul could reshape Fed; some worry about `supercop' role.
- Russia may put part of its currency reserves in bonds of China, Brazil, India.
- Singapore dollar recoups some early losses against the U.S. dollar.
- U.K. inflation slows less than economists forecast in May after higher taxes and the weakness of the pound sustained price pressures in the economy.
- AmEx's May card write-offs fall slightly in May to 10.3% from 10.4% in April.
- No orders for Boeing, Airbus ekes out order from Qatar at recession-clouded Paris Air Show.
- BT Group Plc advances 3.4% after Morgan Stanley recommends the U.K.'s largest phone co.
- CA won't resume growth till late 2010, weighed down by the ongoing spending slump.
- Capital One Fincl Corp's monthly card write-offs rise to 9.4%; late payments increase.
- EMC reiterates its $30/sh all-cash tender offer to acquire Data Domain is superior.
- Extended Stay hotel chain files for Chapter 11 bankruptcy protection.
- Exxon Mobil to pay about $500 million in interest on punitive damages for the Exxon Valdez.
- Sales of Honda's Insight hybrid in the U.S. in 12 months may be 50,000 to 60,000 vehicles.
- Smithfield's May net income dros from a $2.4M gain last year to a $78.8M loss this year.
- Lincoln Natl Corp. to raise $2.1B in capital, incl $600M common-stock offering.
- National Bank of Greece sinks the most in more than seven months after announcing plans for a 1.25 billion-euro ($1.7 billion) rights offer.
- Tesco says U.K. sales accelerated in the 1Q as discount food range kept shoppers from shifting to rivals Aldi Group and Lidl.
- Tyco Electronics sees Q3 EPS at $0.10-0.17 (cons $0.03); revs of $2.45-2.55B (cons $2.4B).
- UniCredit Exec says current qtr invest banking operations are better than expected.
Economic Calendar: Data on Building Permits, PPI, Housing Starts, Capacity Utilization, Industrial Prodn to be released today.
Earnings Calendar: ADBE, APWR, BBY, FDS, MTSI, SFD.
Recent Egan-Jones Ratings Actions:
NUCOR CORP (NUE)
LINCOLN NATIONAL CORP (LNC)
FREEPORT-MCMORAN COPPER (FCX)
SIX FLAGS INC (SIXF)
HARTFORD FINANCIAL SERVICES (HIG)
SUN MICROSYSTEMS INC (JAVA)
REDWOOD TRUST INC (RWT)
SOUTHWESTERN ENERGY CO (SWN)
REDWOOD TRUST INC (RWT)
SUNOCO INC (SUN)
DELL INC (DELL)
DEL MONTE FOODS CO (DLM)
RANGE RESOURCES CORP (RRC)
Data provided by: Egan-Jones Ratings And Analytics