By Paddy Power Trader

Global markets have rallied “too much, too soon, too fast” this year but a correction will not happen right away, as a cheap USD will still encourage investors to seek higher-yielding assets for a few more months, leading economist Nouriel Roubini said. (RTRS)

US Fed balance sheet liabilities rise to USD 2.218trl Dec 16 vs. USD 2.169trl Dec 9. (RTRS)

The energy, finance, technology and healthcare industries are expected to be the hottest areas in a deal-making market in 2010 is likely to expand gradually from the year’s depressed levels. (RTRS)
Global markets have rallied “too much, too soon, too fast” this year but a correction will not happen right away, as a cheap USD will still encourage investors to seek higher-yielding assets for a few more months, leading economist Nouriel Roubini said. (RTRS)
Morgan Stanley forecasts 4% global GDP growth in 2010. (Sources)
Today the Nikkei closed -0.21% and at 1333 GMT (0733 CST) European Indices were trading at: FTSE 100 +0.35%, DAX +0.67%, CAC 40 -0.02%. (BBG)

Wall Street

Boeing – Ryanair ends talks to buy 200 co.’s aircrafts. Ryanair says has terminated its talks with co. for an order of up to 200 new B737-800 series aircraft for delivery during 2013-2016. Adds that breakdown of these negotiations will not effects its plans to take delivery of 112 B737-800 aircraft during the next three years. (BBG)

Kraft Foods – Italian chocolate maker Ferrero is one fo two companies mulling whether to prepare a rival bid for Cadbury. Co. officially remains the only company with a USD 16bln offer on the table for Cadbury. Under British takeover law, the two companies have until Feb. 2 to make a decision. (NY Post)

S&P 500

Citigroup – Co. can start to repair its relationship with investors by becoming more transparent about the businesses that are supposed to allow the bank to rebound. Citigroup could increase its relatively low valuation by providing more information about some of its units, such as those in Citicorp, which are supposed to be some of the company’s best performers (WSJ/Heard on the Street)

Pfizer – Boehringer Ingelheim Pharmaceuticals and co. announced that the US Food and Drug Administration has approved Spiriva HandiHaler for the reduction of exacerbations in patients with chronic obstructive pulmonary disease. (BBG/RTRS)

Bristol-Myers Squibb – EU Medicines Agency says recommends Sanofi-Aventis and co.’s drugs Duocover and Duoplavin. (BBG/RTRS) Also in the news, co. and Mead Johnson Nutrition (MJN) announced that based on preliminary results the offer by Bristol-Myers Squibb to exchange up to 170,000,000 shares of common stock of Mead Johnson for outstanding shares of co. (BBG/RTRS)

Ford – Co. sales in the first half of December have been “significantly better” than November, according to Jim Farley, head of sales, marketing and service at the auto maker. He says he’s starting to “feel a lot better” about 2010. (Detroit News)

Visa – Co. to be added to S&P 500 and Ciena deleted as of 12/18 close.

Companies paying dividend: Prudential Financial (USD 0.70000), Corning (USD 0.05000)

NASDAQ

Earnings

Research in Motion – Q3 EPS USD 1.10 vs. Exp. USD 1.04, Q3 revenue USD 3.92bln vs. Exp. USD 3.78bln. Co. sees Q4 EPS USD 1.23-1.31 vs. Exp. USD 1.12 and sees Q4 revenue USD 4.2-4.4bln vs. Exp. USD 4.12bln. Co. shares were up 10% in after-market trade. (BBG)

Oracle – Q2 EPS USD 0.39 vs. Exp. USD 0.36, Q2 revenue USD 5.87bln vs. Exp. USD 5.70bln. New software licenses up 2% vs. Exp. 5% fall and co. sees European Commission unconditionally clearing deal with Sun Microsystems in January. Co. shares were up 4% in after-market trade. Co. president Safra Catz sees Sun Acquisition clearing in January. (BBG)

Other News

Google – Co. is reportedly in talks to acquire Yelp, a review site for local businesses. The companies have started a serious round of talks about two months ago, three sources say; they have discussed a price and are in the process of hammering out details. The price tag for the deal could be over USD 500mln. (NY Times)

Intel – Co. is preparing to launch two new families of microprocessors that incorporate circuitry from other chips used to manage three-dimensional graphics and video. (WSJ)

Amgen – Co. announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has announced a positive opinion for the marketing authorization of Prolia for the treatment of osteoporosis in postmenopausal women at increased risk of fractures, and for the treatment of bone loss associated with hormone ablation in men with prostate cancer at increased risk of fractures. (BBG/RTRS)