Daily Highlights: 5.21.09

UAE ditched plans to join the proposed Gulf Cooperation Council monetary union.
Oil drops below $62 in Asia as big rally pauses.
Singapore economy shrinks 14.6 percent in 1Q.
World markets fall after Fed sees deeper slowdown.
Advance Auto beats by $0.10, posts Q1 EPS of $1.02 as revs rise 10.3% to $1.68B.
AnnTaylor Stores swung to a Q1 loss of $2.3M; revs down 28% to $426.7M.
Britain's debt outlook lowered to negative.
BJ's Wholesale Club's Q1 net rises 41% to $24.3M; revs up 0.2% at $2.26B.
Cable & Wireless full-year profit drops 13 percent on restructuring costs.
China shares down on renewed concerns over economic recovery.
Computer Sciences reports Q4 EPS of $1.53 (cons $1.47); revs down 8.3% to $4.11B. Sees FY10 EPS of $4.20-4.30 (cons $4.08).
Deere & Co.'s Q2 net fell 38% on weak equipment sales. Sees Y09 net at $1.1B (prev $1.5B).
Eaton Vance beats by $0.01, posts Q2 EPS of $0.22. Revs fell 5.3% to $198.4M.
Forest Oil prices a 12.5M share common stock offering at $18.25/sh.
Treasury poised to inject more than $7B into GMAC, the first instalment of a new aid package that could reach $14B.
GMAC to receive $7+B from the federal government.
Limited beats by $0.04, posts Q1 EPS of $0.01. Revs fell 10.4% to $1.73B.
NetApp to acquire fellow data-storage company Data Domain Inc. for $1.5B.
Regions Financial plans to offer $1B in common shares, $250M in new convertible preferred shares.
Southwest Airlines warned that May revenues are quite soft.
Target's Q1 earnings decline 13% to $522M but beat expectations. Revs up 0.2% at $14.83B.
Tween Brands beats by $0.13, Q1 loss of $0.06. Revs fell 18.5% to $205.2M.