Top Stories* (market impact ranking)

• FER.SP   Today 02:01am
  Grupo Ferrovial, S.A. Competition Commission may force BAA to sell 3 airports- Competition Commission (CC) has provisionally found that there are competition problems at each of BAA*s seven UK airports (Heathrow, Gatwick, more...
  
•   Yesterday 12:39pm
  SEC's Cox: Proposing a new short-selling rule in "the next few weeks," proposal will focus on market-wide solutions- Reminder: Back on 8/12, the NY Post reported that the SEC is continuing work on a more...
  
•   Yesterday 02:33pm
  Fed's Lacker: Fed should not wait too long to change rates; if oil prices fall, overall inflation may moderate - interview comments- Must be careful about elevated level of core inflation, can not more...
  
• USD/VND   Yesterday 11:45pm
  US Dollar v Vietnam Dong *(VN) VIETNAM CENTRAL BANK RAISES OVERNIGHT INTERBANK LENDING RATE TO 15.00% FROM 10.8% (UNEXPECTED)
  
• HPQ   Yesterday 04:07pm
  Hewlett-Packard Co Reports Q3 $0.86 v $0.83e, R $28.0B v $27.4Be- Guides Q4 $1.01-1.03 v $1.00e, R $30.2-30.3B v $30.2Be - Q3 operating margin 9% v 9% q/q; Non GAAP 10% v 10% q/q sequential
  
• LEH   Yesterday 04:31pm
  Lehman Brothers Holdings Inc Reportedly Goldman cuts earnings estimates for brokerage firms (timing uncertain)- Goldman cuts JPM Q3 EPS estimate to $0.40 from $0.64 (consensus estimate is $0.51e) - Goldman cuts LEH 2008 EPS more...
  
•   Yesterday 08:30am
  *JULY PRODUCER PRICE INDEX M/M: 1.2% V 0.6%E; PPI EX FOOD&ENERGY M/M: 0.7% 0.2%E- PPI YoY: 9.8% v 9.3%e - PPI Ex Food&Energy YoY: 3.5% v 3.2%e - No Revisions
  
•   Yesterday 10:00am
  Fed's Fisher: Economy will slow to a 'snail's pace', housing correction has yet to reach a bottom- food and oil prices 'overshot' on the upside, Fed cannot afford to 'gamble away' its credibility by more...
  
•   Yesterday 11:25am
  Fed's Fisher: The Fed may need to act on rates before the economy turns around, may have to raise rates sooner than some are expecting- It is not incongruous to raise rates in order to ease credit more...
  
•   Yesterday 08:30am
  *JULY HOUSING STARTS: 965K V 960KE; BUILDING PERMITS: 937K V 970KE- Prior housing starts revised from 1.066M to 1.084M - Prior Building Permits no new revision from 1.138M
  
• FNM   Yesterday 02:50pm
  Fannie Mae Fed's Lacker: Would prefer if FNM and FRE were "demonstratively" privatized- Must keep an "end goal in mind" when considering FRE and FNM.
  
•   Yesterday 06:00pm
  Technology: North American Semiconductor Equipment Industry Posts July 2008 Book-to-Bill Ratio of 0.83 v 0.81 in June- The three-month average of worldwide bookings in July 2008 was $905 million. The more...
  
• SGM.AU   Yesterday 06:32pm
  Sims Group Lmt Says FY net profit results will beat analyst estimates of A$364M by more than 10%-15%
  
•   Yesterday 11:27am
  Treasury's Paulson: The Chinese currency remains an important issue, China needs to continue progress on reforms- Asserts that US-China talks have succeeded in producing results. - FX is an more...
  
• ADI   Yesterday 04:00pm
  Analog Devices Inc Reports Q3 $0.44 v $0.45e, R $659M v $660.5Me- Guides Q4 $0.44-0.46 v $0.46e, Rev to grow in range of 0-3% - Q3 gross margin %
  
•   Yesterday 08:30am
  *(CA) JUN WHOLESALE SALES M/M: 2.0% V 0.7%E- Prior MoM revised from 1.6% to 1.5%
  
• TGT   Yesterday 08:25am
  Target Corp Reports Q2 $0.82 v $0.76e, R $15.47B v $15.46Be, SSS -0.4%- Q2 Gross Margin 31.2% v 31.6% y/y
  
• TGT   Yesterday 10:37am
  Target Corp Says current environment is harshest they have seen in years, sees Q4 targets as more attainable than Q3 estimates - conf call- Opened 43 new stores in Q2 and plans to open 45 additional stores, but more...
  
•   Yesterday 05:00am
  *(GE) AUG ZEW ECONOMIC SENTIMENT: -55.5 V -62.0E; CURRENT SITUATION: -9.2 V 10.0E- No revisions
  
• FRE   Yesterday 09:04am
  Freddie Mac Reportedly launches $3B 5Y reference notes at 113bps/Treasuries - unconfirmed report