ASIA The Nikkei fell 1.6% as Mitsubishi Estate Co and other property stocks declined on weak condominium sales data, while financial and exporters dropped amid credit woes (RTRS) Oil was little changed at below $94 a barrel, in the wake of losses a day ago triggered by a surprise build in weekly US crude stocks (RTRS) At 0730 crude was trading $93.61 up 18c. U.S. Stocks finished lower on Thursday on continuing credit and economic concerns, despite headline CPI rising as expected in Oct. by 0.3%, while core CPI likewise increased in line with consensus at 0.2%. Weighing on the major averages was weakness in financials and energy, in particular, amid declines in the energy futures with WTI crude futures falling 0.55% to $93.57 on the back of the release of EIA petroleum data showing a 2.814M barrel build in crude inventories. Financials were dogged by a negative article in the WSJ saying that subprime hits are likely to keep coming as banks like UBS and Citigroup (-4.05% to $34.58) may face more charges than theyâve yet taken. The article said that Citigroup could face between $8B and $11B in write-downs in Q4. Retailers also were weak after showed after JC Penny reported dismal Q3 results of $1.07 vs. expectations of $1.17 before the open and guided Q4 EPS much lower than previous guidance at $1.65 - $1.80. The DJI fell 120.96 (-0.91%) to 13110.05. The S&P 500 Index dropped 19.43 pts. (-1.32%) to 1451.15 and the Nasdaq 100 Index fell 14.02 pts (-0.7%) to 2024.03. Alcoa - Moody's has downgraded Alcoa's senior unsecured debt rating to Baa1, A2 outlook stable. (BBG) Starbucks - The company reported Q4 EPS of USD 0.21 vs. USD 0.21 exp., Q4 sales were USD 2.4 bln vs. USD 2.42 bln exp., sees Q1 EPS at USD 0.28 vs. USD 0.31 exp. Shares were down 6.2% in after-market trading last night. (BBG)** Kohl's - The company reported Q3 EPS of USD 0.61 vs. USD 0.60 exp., Q3 sales were USD 3.8 bln vs. USD 3.95 bln exp., Q4 EPS seen USD 1.45-USD 1.51 vs. USD 1.47-USD 1.66 exp. Shares in the company were down 3.3% late in after-market trading last night. (RTRS)** Intuit - The company reported a Q1 non-GAAP loss/share of USD 0.10 vs. a loss of USD 0.12 exp., Q1 sales were USD 444.9 mln vs. USD 437.7 exp., sees Q2 sales USD 833 mln vs. USD 850 mln exp. (RTRS)** Amazon.com - The company is to introduce an electronic book device. (WSJ) FTSE Barclays - Fitch has cut the banks outlook to negative from stable. (S&P)** Rio Tinto/BHP Billiton - Rio Tinto may be launching a counter bid to fight BHP Billiton. (WSJ)** Northern Rock - The deadline for proposals is today with up to 6-8 offers expected. (FT) Companies paying dividend today: BSkyB (0.08900 GBP), Aviva Plc (0.11900 GBP), British Land Co. (0.08750 GBP), Kingfisher Group (0.03850 GBP) DAX Siemens - The company paid millions in Euros in bribes to cabinet ministers and dozens of other officials in Nigeria, Russia and Libya as it sought to win lucrative contracts for telecommunications equipment. (RTRS) CAC Sanofi-Aventis - According to UK medical journal The Lancet, Acomplia pill puts patients at risk of severe psychiatric side effects, similar to findings in June by the US FDA. (RTRS)** Alcatel-Lucent - Company expects a slowdown in North America to continue into 2008. (S&P) Dexia - Q3 net profit ex-items EUR 481mln vs Exp. EUR 542mln. (RTRS)** EADS - Lagardere said that it will not sell EADS stake for time being. (RTRS)** Companies paying dividend today: Total SA (1.00000 EUR) SMI Roche - Amgen has asked a U.S. court to block sales of Roche's Mircera drug. (BBG)** Richemont - H1 net profit EUR 824mln vs Exp. EUR 753mln, H1 sales EUR 2.548bln vs Exp. EUR 2.550bln. (DJ)** BROKER UPGRADES/DOWNGRADES NOVARTIS ABN UPGRADES TO BUY FROM HOLD CREDIT AGRICOLE CUT TO `NEUTRAL' VS `BUY' AT UBS BRITISH LAND LEHMAN DOWNGRADES TO EQUALWEIGHT FROM OVERWEIGHT LONMIN CUT TO `UNDERWEIGHT' VS `EQUAL WEIGHT' AT LEHMAN CHINA STOCKS CUT TO `UNDERWEIGHT 'PREVIOUSLY `EQUAL-WEIGHT' AT MORGAN STANLEY The above commentary was provided by Real-time Analysis & News (R.A.N) Ltd (known to traders as âRansquawkâ) operates from 0630GMT until 2200GMT to incorporate full coverage of the US bond and equity futures markets. Currently R.A.N covers Bond, STIR and Index futures in the US, UK and Eurozone as well as NYMEX crude and Gold. Furthermore, R.A.N has a stand alone Forex service (Ransquawk FX) which covers all the major currency pairs. Coverage is based around the economic calendar for that day but the product finds its value looking at flows, rumours and breaking news and then deliver that information to the customer via an internet âsquawk-boxâ. For more information and a 1-week free trial please email us at info@ransquawk.com