IDEA: "Assign statement to new local variable"?

As a long time Eclipse user, I'm playing around a little bit with IntelliJ IDEA 10. I can't seem to find out how to perform an "Assign statement to new local variable" code completion.

Feature explanation:

I type something like

new BufferedOutputStream(out)

and then hit Cmd (or Ctrl)+1 and enter, and Eclipse changes the line into:

BufferedOutputStream bufferedOutputStream = new BufferedOutputStream(out);

At the same time, I can type over "bufferedOutputStream" immediately to rename it (or select from the options "bufferedOutputStream", "outputStream" and "stream" from a dropdown).

I use this feature for absolutely every assignment, and it's an enormous time saver - this must be available in IDEA, too - but where is it hidden?