Equities finished in negative territory following the release of wider than expected trade balance data and less than impressive weekly jobs data. Financials were the stark underperformers in the S&P 500 as speculation intensifying on the outcome that the foreclosure scandal will have on the balance sheets on major US banks. As a result: Bank of America , JP Morgan and Well Fargo posted heavy losses. The latter half of the session saw equities pare back some of the earlier losses and at the closing bell DJIA closed down 0.01% at 11094.57, S&P 500 closed down 0.36% at 1173.81 and NASDAQ 100 closed down 0.13% at 2054.51.
UK
GlaxoSmithKline – Co. not interested in buying Actelion, says person familiar with the situation. (RTRS)
HSBC – Co. could drop its USD 8bln bid for South Africa's Nedbank. (FT)
Lloyds – Co. has appointed Goldman Sachs to advise on a review of co.'s SeaDragon business, according to sources. (Telegraph)
Rio Tinto /BHP Billiton – EU Commission set to say cos.' USD 116bln iron ore joint venture is anticompetitive. (RTRS)
BHP Billiton – China's Sinochem will not be making a counter offer for Potash. (RTRS)
BG Group – CNOOC is rumoured to be preparing GBP 14 per share bid for oil and gas business of co. (Telegraph)
Reckitt Benckiser – Co. has been fined GBP 10.2mln following abuse of its dominant position in the market for the NHS supply of alginate and antacid heartburn medicines. (Sources)
US
Google – Q3 adjusted EPS USD 7.64 vs. Exp. USD 6.67, Q3 revenue USD 7.29bln vs. Exp. USD 5.26bln. Co. says Q3 revenue Ex-TAC USD 5.48bln vs. Exp. USD 5.26bln and Q3 cash and cash equivalents USD 33.4bln. Says Q3 sites revenue USD 4.83bln (+22%) and Q3 traffic acquisition costs increased to 1.81bln. In addition, says Q3 aggregate paid clicks increased approximately 16% compared to Q3 2009 and Q3 average cost-per-click increased approximately 3% compared to Q3 2009. (RTRS) Co. shares were up 6.5% in after market trade.
Advanced Micro Devices – Q3 adjusted EPS USD 0.15 vs. Exp. USD 0.06, Q3 revenue USD 1.62bln vs. Exp. USD 1.61bln and Q3 gross margin 46%. Co. says expects revenue to be approximately flat sequentially for Q4, says saw weaker than expected consumer demand in Q3 and recorded a charge of USD 0.03/share related to debt redemption in Q3. (RTRS) Co. shares up 2.2% in after market trade.
Europe
GERMANY
Deutsche Bank – Co. has said now controls 30% of Postbank. (RTRS)
Commerzbank – Co. is looking for new partners for its ship financing business, according to co.'s chief executive. (FT Deutschland)
FRANCE
Sanofi-Aventis – Co.'s CEO said that co.'s position on USD 69 per share for Genzyme remains unchanged. (Sources)
Carrefour – Q3 sales EUR 25.6bln vs. Exp. EUR 25.4bln, Q3 like-for-like sales up 1.1% and says Q3 French stores revenue EUR 10.5bln. (RTRS/Sources)
Saint Gobain – Co. is planning the IPO of its glass packing division at the earliest for Q2 2011, a person familiar with the situation said. (Sources)
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