Seeking Alpha - Stock Market News & Financial Analysis

MARKET CURRENTS

8:06 AM It's a day to forget for Southeast Asian shares as Bernanke jitters and China's PMI data conspire to sink markets. "I think everyone is looking at everyone else ... and trying to figure out if there is going to be panic," a Bank of Singapore economist tells CNBC. Rundown: Thailand (THD) -2.47%, Indonesia (EIDO, IDX) -3.68%, Singapore (EWS, EWSS) -2.51%, Philippines (EPHE) -2.86%, and Vietnam (VNM) -0.71%. Comment! [Global & FX]
8:05 AM Rolls-Royce (RRCEF.PK) wins a $880M order from United Airline (UAL) for Trent XWB engines to power 10 Airbus A350 aircraft. Comment! [Consumer, Global & FX]
8:02 AM Cleantech Solutions (CLNT) +6.3% premarket after saying it received $2M in new orders for 21 airflow-dyeing machines from a new Chinese customer. CLNT expects to begin delivering the units in September. Comment! [Energy, On the Move]
8:00 AM Three breakfast reads:
1) After The Fed: The Battle Lines Have Been Drawn
2) China's central bank's inaction can have dire consequences - this is not a game
3) Sears Holdings' Valuation: Between Berkshire Hathaway And Bankruptcy Comment! [U.S. Economy, Global & FX, Consumer]
7:58 AM Manulife Financial (MFC) is upgraded to Buy with price target hiked to $19 from $16.50 at BMO Capital. No details are yet available but the life insurers won't be complaining about higher rates on the long end of the curve. Comment! [Financials]
7:57 AM Oppenheimer fires off new ratings on retailers as it resumes coverage on a good chunk of the sector. Slotted at Outperform: ANN, URBN, PLCE, ASNA, ANF. Perform: GPS, CHS, LULU, ARO, FOSL. Underperform: LTD. Comment! [Consumer]
7:54 AM The Carlyle Group (CG) inks a deal to buy industrial generator and electric motor manufacturer Marelli Motori from the U.K.'s Melrose Industries for about $320M. The funds for the purchase will come from Carlyle's €5.3B Europe Partners III fund. (PR) Comment! [M&A, Financials]
7:54 AM ChinaEdu (CEDU) receives an offer from Chairman Julia Huang and CEO Shawn Ding to take the company private for $7/ADS. (PR) Comment!
7:54 AM The most striking conclusion from the IEA's medium-term gas market report: Five years from now, it will be much more common for motorists to fill up their tanks with natural gas (FCG). Between now and 2018, natural gas will cover ~10% of incremental growth of energy demand from the transport sector, more than biofuels and electric cars combined. Comment! [Energy, Global & FX]
7:50 AM Wal-Mart (WMT) and Tesco (TSCDF.PK) push policymakers in India on whether or not the government will reverse a policy to allow foreign investments in retail businesses in the nation. Though the retail giants have ambitious plans for the region, the issue is a political hot potato and forward progress has been slow. Comment! [Global & FX, Consumer]