Latest News In Stock Investment Research – Oct 30, 2009

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Fraport AG to develop airport in St. Petersburg

30 Oct 2009 at 5:23am

FRANKFURT (MarketWatch) — Germany’s Fraport AG signed on Friday a public-private partnership agreement for developing and operating St. Petersburg’s Pulkovo Airport, the fourth largest in Russia. A total investment of 1.4 billion euros ($2.07 billion) is planned under the 30-year agreement, which provides for the construction of a new passenger terminal, the development of real estate adjacent to the terminal, and modernization of existing infrastructure. Fraport and its partners in the Northern Capital Gateway consortium won the concession bid and will be taking over operation of Pulkovo Airport in April 2010. Fraport holds a 35.5% stake in the consortium; its partners are Russia’s state-controlled VTB Bank with 57.5%, and Greek investment conglomerate Copelouzos Group with 7%. Fraport is the owner and operator of the international airport in Frankfurt.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


M.D.C. aggressively marketed tax credit: analyst

30 Oct 2009 at 5:20am

BOSTON (MarketWatch) — J.P. Morgan home-builder analyst Michael Rehaut in a research note Friday said while he was “encouraged” by the improvement in M.D.C. Holdings Inc.’s third-quarter home orders, he noted the “easy” comparisons with the year-ago figures and the company “aggressively” marketing the new homebuyer tax credit. A Senate committee this week reached a compromise to extend the $8,000 credit for new homebuyers to the end of April, while the measure if passed would also offer a new credit for some existing homeowners. Rehaut said M.D.C.’s third-quarter orders rose 52% on a year-over-year basis, and were boosted by a more than doubling of the absorption rate per community.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Kellogg gets upgraded to buy at Citi

30 Oct 2009 at 5:11am

NEW YORK (MarketWatch) — Citigroup analyst David Driscoll raised his rating on Kellogg Co. to buy from hold on Friday, citing lower expenses and a big share buyback at the cereal and snacks maker. “We believe information issued in conjunction with Kellogg’s [third-quarter] earnings report will significantly increase investor confidence of sustained earnings growth at Kellogg,” he wrote in a note to clients. Shares of Kellogg ended Thursday at $51.38 and were up slightly more than 1% in premarket trade Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Report: Cisco may drop Tandberg bid

30 Oct 2009 at 5:06am

LONDON (MarketWatch) — Shares of video conferencing firm Tandberg dropped 2.7% in Oslo after Bloomberg News reported that Cisco Systems may drop its $3.1 billion bid. Investors holding 24% of Tandberg have already rejected the 153.50 kroner per share offer.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


DuPont names Ellen Kullman as chair

30 Oct 2009 at 5:05am

NEW YORK (MarketWatch) — DuPont Co. said Friday that its board has elected Chief Executive Officer Ellen Kullman, 53, to serve as chair effective Dec. 31. The Wilmington, Del.-based chemicals and technology giant said that Charles Holliday, Jr., 61, will retire from the board after 11 years as its chairman. Kullman had succeeded Holliday as CEO at the beginning of this year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Stryker names new chairman, sets dividend change

30 Oct 2009 at 4:58am

NEW YORK (MarketWatch) — Stryker Corp. said Friday that John Brown, the company’s chairman, plans to retire effective Dec. 31, but will become chairman emeritus as of Jan. 1. The medical-technology company named Stephen MacMillan, its chief executive officer and president, to the role of chairman, also effective Jan. 1. Separately, the company said it will begin paying a dividend quarterly instead of annually. In conjunction with that move, the board declared a cash transition dividend of 10 cents a share, payable Dec. 16, to shareholders of record as of Nov. 18. Stryker expects the first quarterly dividend of 15 cents a share to be paid in January 2010.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Weyerhaeuser’s third-quarter results break even

30 Oct 2009 at 4:50am

NEW YORK (MarketWatch) — Forest-products company Weyerhaeuser Co. said Friday its third-quarter results broke even, compared with a profit of $280 million, or $1.33 a share, a year earlier. Total revenue fell to $1.41 billion from $2.11 billion. Excluding items, the company said it would have lost 26 cents a share. Analysts, on average, estimated a loss of 46 cents a share on sales of $1.46 billion, according to FactSet.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Washington Post reports higher quarterly profit

30 Oct 2009 at 4:48am

NEW YORK (MarketWatch) — Washington Post Co. said Friday that its third-quarter profit rose to $17 million, or $1.81 a share, from $10 million, or $1.08 a share, in the year-earlier period. The company had numerous items in the latest quarter, including asset-impairment charges related to Kaplan Ventures. Operating revenue rose 2% to $1.15 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Gold futures fall as U.S. spending, costs fall

30 Oct 2009 at 4:46am

NEW YORK (MarketWatch) — Gold futures fell early on Friday, after the government reported consumer spending fell sharply in September, while employment costs rose at the smallest annual rate on record in the third quarter. Gold for December delivery was down $4.20, or 0.4%, to $1,042.90 an ounce in electronic trade.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Crude oil futures stay down after U.S. data

30 Oct 2009 at 4:41am

NEW YORK (MarketWatch) — Crude oil futures for December delivery remained lower early on Friday, after the government reported consumer spending fell sharply in September, while employment costs rose at the smallest annual rate on record in the third quarter. Crude oil for December delivery was down 51 cents, or 0.6%, to $79.36 a barrel in electronic trade.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


U.S. stock futures stay lower after income data

30 Oct 2009 at 4:41am

NEW YORK (MarketWatch) — U.S. stock futures remained lower on Friday after the government said personal spending fell 0.5% in September while income held flat. Futures for the Dow Jones Industrial Average were down 31 points at 9,872. Those for the S&P 500 declined 3.8 points to 1,057.8. Nasdaq 100 futures fell 2 point to 1,705.5.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Chevron third-quarter profit fell 52%

30 Oct 2009 at 4:41am

NEW YORK (MarketWatch) — Chevron Corp. said Friday its third-quarter earnings fell to $3.8 billion, or $1.92 a share, from $7.9 billion, or $3.85 a share, in the year-ago period. Total revenues fell to $46.6 billion from $78.9 billion. Recent earnings include a one-time benefit of 20 cents a share from the sale of assets. Analysts polled by FactSet Research were looking for earnings of $1.44 a share, on average. Shares of Chevron rose less than 1% premarket to $78.50.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Dollar up slightly after spending, price data

30 Oct 2009 at 4:39am

NEW YORK (MarketWatch) — The U.S. dollar remained slightly higher Friday after a report showed U.S. personal spending in September fell 0.5% and incomes were flat, in line with forecasts. Two measures of inflation, the employment cost index and personal consumption expenditure, both came in as analysts’ expected. The dollar index [$dxy], which tracks the U.S. unit against a basket of other major currencies, traded at 76.046, down slightly from 75.979 in North American trade late Thursday. Still to come are reports on manufacturing in the Chicago area and consumer sentiment in October.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Infratil sells stake in Germany’s Luebeck Airport

30 Oct 2009 at 4:38am

FRANKFURT (MarketWatch) — Infratil Limited , a New Zealand-based operator of infrastructure and utility businesses, said Friday it has sold its 90% shareholding in Germany’s Luebeck Airport to the city of Luebeck for about 25.5 million euros ($38 million). When Infratil acquired this shareholding from the city in 2005, it also acquired a put option that allowed it to require Luebeck to reacquire this shareholding if passenger numbers failed to reach an agreed threshold, Infratil said in a statement. “It is very disappointing that the passenger numbers have failed to meet expectations,” said Steven Fitzgerald, chief executive of Infratil Airports. “It has proven to be a particularly challenging period for the aviation industry and passenger numbers were significantly behind those targeted.” Infratil owns Glasgow Prestwick Airport and Kent International Airport in the U.K. and Wellington Airport in New Zealand.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Treasurys extend gains after spending, price data

30 Oct 2009 at 4:38am

NEW YORK (MarketWatch) — Treasury prices extended gains on Friday, pushing yields down, after a report showed U.S. personal spending in September fell 0.5% and incomes were flat, in line with forecasts. Two measures of inflation, the employment cost index and personal consumption expenditure, both came in as analysts’ expected. Yields on 10-year notes fell 6 basis points to 3.45%. Still to come are reports on manufacturing in the Chicago area and consumer sentiment in October.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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October 30 2009 05:55 am | Stock Market News

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