First Deputy Prime Minister Igor Shuvalov has announced that Russia has again raised its target for revenue from various state asset sales next year to 100 billion rubles ($3.5 billion), more than 10 times the original target. 'The state will keep a so-called golden share in companies it considers important.'  But the move will link in neatly with Dmitry Medvedev's state-of-the-nation call to reorganize state corporations.  It sounds as though Medvedev is looking to Singapore for ideas about technical innovation, remarking during his weekend visit that 'the system of economic and technical education in your country is of great interest for us.'  The media have been responding to Medvedev's suggestion that Russia reduce its time zones to improve business relations. 'If you were to conflate the time zones totally, then obviously you would have some people who ...

For Immediate Release

Chicago, IL – November 12, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Macy’s Inc. (M), Nissan (NSANY), Priceline.com (PCLN), General Electric Co. (GE) and United Technologies Corp. (UTX).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Wednesday’s Analyst Blog:

Macy’s Raises Earnings Guidance

Macy’s Inc. (M) recently reported third-quarter 2009 results. The company posted a loss of 3 cents a share that outshined the Zacks Consensus Estimate loss of 9 cents, and improved substantially from a loss of 8 cents delivered in the prior-year quarter.

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The ruble hit an 11-month high yesterday, just after warnings against bets that the currency would continue to mount. The government has apparently decided to abandon some of its more ambitious pre-crisis goals for the 2012 economy, admitting that growth will be more reserved than previously hoped. Billionaire Alisher Usmanov is apparently negotiating with the government to possibly exchange his 31.1% in mobile operator MegaFon for a stake in Rostelecom, once the latter has undergone a planned restructuring. TeliaSonera has reportedly agreed with Mikhail Fridman-led Alfa Group to combine holdings in mobile operators MegaFon in Russia and Turkcell in Turkey. Despite planning 67,000 job cuts, Sberbank is apparently optimistic that profits will recover next year. VEB is planning to sell foreign currency bonds, the term and size of which will be decided according to market ...

Nissan to Build World’s Cheapest Car Carlos Ghosn, the Chief Executive of the alliance Renault and Nissan (NSANY), has revealed that the company will roll out a small car with its Indian partner, Bajaj Auto, that will be cheaper than any other car in India -- and in the world. The car, which is scheduled for launch in India in 2012, would beat India’s largest automaker Tata Motors’ Nano both in terms of pricing and fuel-efficiency, and become the world's cheapest car. Presently, Tata Nano is the world's cheapest car. The car has a starting price of about Rs100,000 ($2,150). When Renault and Bajaj started discussing on their "ultra low-cost" car 2 years ago, it has been revealed that the car would have been priced between $2,500 and $3,000. However, at the World Economic Forum meeting in New Delhi, India, Mr.Ghosn announced that the ultra low-cost ...

'We will have to take into account this style of dealing with partners in the future, though this scornful approach toward partners mainly affects the Europeans, not us':  Putin reacts to the aborted GM deal.   Finance Minister Alexei Kudrin was in London yesterday to discuss the envisaged issue of $17.8 billion in sovereign eurobonds - the selling of which is a core part of the government's deficit-reducing strategy.  A bond issue would 'be likely to draw keen interest from investors because Russia,[...] is in far better shape financially than a decade ago' says the New York Times.   Kudrin is planning changes to the budget which would see funds originally designed to recapitalize banks redirected to flagging industrial giants (such as Avtovaz) and the jobless, as the economic situation has been less harsh than expected.  In ...

Jason Bush in Forbes suggests that Russia's recovery may be buoyant: 'while the Russian government is still cautiously forecasting 2 percent GDP growth in 2010, many independent economists are already predicting growth of as much as 5 percent next year'.  Oleg Deripaska's heavily-indebted RusAl has made a deal to sell 1.68 million tons of aluminum to Chinese state corporation Norinco over seven years.  Renault COO Patrick Pelata has told the press that whilst the French car giant will support bankruptcy-skirting Avtovaz, the company will not supply the cash booster shot that the Russians allegedly want.  Corporate loan portfolios and overdue corporate loans fell slightly in September, as the ruble gained in value.  The Russian Gold Industrialists Union has announced that gold production rose 14.6% in the first nine months of 2009, year-on-year, an increase they attributed to a number ...

President Medvedev has reportedly said that the damage caused by the financial crisis was far worse than expected and the economy may contract by 7.5% this year.  In an interview with state television, Medvedev designated priorities for economic modernization: 'energy efficiency [...] information products, both ground- and space-based; nuclear energy [...] and pharmaceuticals as we must produce our own medicinal drugs'.  The President also said that Russia will need as long as 15 years to reduce its reliance on raw materials.  Avtovaz plans to start the production of Renault and Nissan vehicles in 2012, suggesting that the French automaker is attempting to comply with the Kremlin's demands for financial commitment.  Prime Minister Vladimir Putin has called for domestically produced medicines to represent at least 50% of total sales in Russia within three years, from the current 20%.  Media ...

At the International Nanotechnology Forum, President Medvedev announced that the global nanotechnology market is worth $250 billion today, and may increase to $2 trillion to $3 trillion by 2015, placing it on a par with the natural resources market.  Russia will spend $10.7 billion by 2015 on its nanotechnology industry to diminish the country's reliance on raw materials.  Renault has apparently agreed to invest in ailing Avtovaz, under warnings from Vladimir Putin that the French company's stake may be diluted otherwise.  Russia's first IPO since the crisis could be undertaken by the Stem Cell Institute.  This month the central bank may reduce its key interest rate to a record low, says Bloomberg.  The rate of inflation has fallen to its lowest in two years as food prices dropped.  The government expects that the privatization of state property over ...

Russia's economy shrank at the slowest monthly pace this year in September.  Apparently the Lada has become the quickest growing car brand in Germany since the fall of the Berlin Wall, spurred on by Merkel's cash-for-scrap program.  Putin has offered more funding to Avtovaz, but it is unclear as to whether Renault will participate.  The Russian automaker's management claim the company has no intention of dismissing employees whose retirement age is long-off.  VTB has acquired a controlling interest in Cristall's 11 distilleries, which make Stolichnaya vodka.  Steel maker Severstal says that production at its mills is regaining momentum.  Russia plans to restructure fixed-line operator holding company Svyazinvest by spring 2011.  Sheremetyevo Airport could be privatized to shore up the budget deficit.  The Times reports on the story of Sergei Frank, former transport minister, ...

Corporate truce: Norway's Telenor and Russian partner Alfa have settled their long-standing legal wranglings and decided to pool their Russian and Ukrainian assets into a New-York listed mobile operator.  The Moscow Times reports that Prime Minister Putin has asked Renault to throw a financial bone to struggling partner AvtoVAZ, 'or we will have to discuss our relative stakes'.  Russia may borrow between $2 and $4 million in 2010 from the World Bank.  Retail giant X5 is looking to buy local supermarket chain Paterson.  Nokia will not be fined for violating Russian competition laws; it remain unsure if the same can be said for Ikea.  Rumors that Opel may move its van production from England to Russia have English workers in an uproar; Magna has denied the reports.  Digital Sky Technologies is buying more shares ...